the trick seems to be to get away from charts/TA, get away from directional plays, and get into spread trading and complicated options stuff. Never seen anyone able to prove their ability in the former
To create a zig-zag chart, just connect extreme bar values (low to high, then high to low) on a 5 min TF. The simple visual assessment of sentiment is done by using leg 2 of a given fractal.
Attached is the set of trades from last Friday (21AUG14) I use volume signals to substitute for the zig-zag. The EE column names the volume signal. Actions show in right column. , HT for hold through. S for sideline, and EAR for early. Also note the three tick rule as e-x-bar #. I also use re entry as a signal for when coming off sidelines is appropriate. You can tab the ticks and points of profits. Every 20 points, roughly, is doubling of capital. The IN to HT to IN shows how picking off slower trends is automated and cuts costs.
One way to cure your plight would be to spend a few days in vegas. There are many small trading rooms there where guys do let observers visit. Same is true of most other cities. vegas guys are more colorful. You may want to ask yourself how you got so estranged from meeting traders.
Perhaps Jack will invite you out to his $140K home in AZ.. He managed $100K of OPM here on ET and blew-up. Yes, show us more mock-ups of Jack tick-phucking the ES 24 hours after the fact.
ZIgZag is drawn post and amends after the fact, you’d know that if you spent two seconds looking at it.It can’t be used to predict.
Use the current RTH or ETH Open to trade off of.It`s usually clear after 30M - 1H after the Open where the price is going to go.Play with the Open for some time,and then add Volume for certainty. Now you have a system.It`s the most simple and logical system on Earth.