To sit or not to sit...

Discussion in 'Technical Analysis' started by ocean5, Apr 18, 2012.

  1. ocean5


    or exist?

    Jack Hershey sometimes suggests to trade FTT to FTT,but sometimes the non dom retrace is 50-60% of the P1-P2 up leg,but harder to spot.So the dilemma is, to sit from FTT to FTT and exit if the retrace is more then 70-80%,or to try to spot every sub-sub,middle points down the road,what your thoughts?
  2. =======
    Ocean waves trend;
    Well if i read that chart right;
    its holding on thru a 50% retrace.

    Yes accidently;
    no i wouldnt plan on holding though a 50%. But i like longs =strongest of the strong;
    shorts= the weakest of the weak

    It may never get easy;
    but for sure it gets easlier with 7 years + trading -investing[bull & bear trend]. Wisdom is profitable to direct.:cool:
  3. ocean5


    Thanks T,yes,hold and reverse seems easy but it's not,but it will,someday.
  4. baro-san


    If the market has a fractal nature, your question is moot.
  5. oraclewizard77

    oraclewizard77 Moderator

    But when the market trends, your answer is moot.

  6. baro-san


    You can't have it both ways: either the market has a fractal structure or it doesn't, trend and no trend. If the OP decides "not to sit" and trade each leg, his problem doesn't go away because each leg has the same three move structure, and he faces the same question but one fractal faster.
  7. Yes, Jack mentions this all the time...

    Fractal talk
    from Jack:


  8. oraclewizard77

    oraclewizard77 Moderator

    Exactly, do not try and bend the trend. That's impossible. Instead... only try to realize the truth.

    What truth?

    There is no fractal.

    Then you'll see, that it is not the trend that bends, it is only yourself.

  9. ocean5


    Can you explain in a few words what`s been written here?
  10. Yes, I was setting up a reference to what Jack posted some time ago.
    #10     Apr 19, 2012