Not a few readers here (and you know who you are) currently trade in a mild state of pre-Alzheimer's confusion. No doubt they fear the ultimate inability to trade at all. Take heart. In association with my system designer Joe Doaks, I recently created a simple index futures trading system for a client who must remain nameless for confidentiality reasons, but whose identity you can readily guess. The system is tuned to the memory retention of the impoverished client, fifteen minutes. It is well known that beginners have phenomenal trading luck. My client is a beginner every fifteen minutes. Attached is the system. You can see from the grey number 4 (the chart actually shows 6.76, but trust me, that's an artifact of snagging the chart) in the lower right hand corner that it profited well yesterday trading NQ. It made 25% of the daily range of 16 points. Not exactly Hershean performance, but Jack is advised not to sneer because all indications are that he will need this system soon. You will notice that the chart for the system is quite simple, even a Hershey drop-out could follow it. No volume. No fancy indicators. Just candlestick presentation, floor pivots and red-light-short-green-light-long-yellow-light-change-your-Depends. (My client has long since forgotten than pivots "don't work".)
This is a much needed system. When will it be ready for the public? Would it work for traders with attention deficit, too?
There's one thing I've learned, esp in the futures biz - when someone says 'trust me' - DO NOT TRUST THEM OR BELIEVE ONE WORD.
225, it was publicly disclosed nearly 130 years ago. The system is called "Trend Following". Infolode, are you my son? Why shouldn't an Alzheimer's sufferer be able to trade? I plan to. I am in early stages now (can't remember names, forget I'm married), and my trading is no worse than it ever was. Brownsfan, you can trust me. All others, this system is merely the latest iteration in the eternal quest for a simple system that does not require my clients to watch 18 different things simultaneously. Jack Hershey may be able to, but my clients aren't that smart.
225, re ADD, it is now called ADHD, but no, this system will not work for that. ADHD sufferers need to trade 20-40 times a day, for which SCT is the recommended solution.
Ok, you ment no harm. Jokes are funny until it effects someone we know or love. Moving forward; Jack certainly gets alot of bad press here and I don't understand why. Granted, his material can appear complex but then again I can't comment objectivly because I haven't read through the threads to apply the principles. I have my own methods to perfect and until they fail, I'll continue to hone and simplify. If nothing else than to capture profits I leave on the table almost everyday. This involves overlap bars and upwards of 68% of the previous day's range. It also involves trading counter to the trend as the new days bar approaches the overlap average. Channels are used in part to determine the slope of the advance. The channels walls are measured @ the high bar and turned sideways (horizontally). The height of the channel is also the time cycle. When the channel is broken it will travel the distance equal to the height of the channel. Market turns @3.25 hours (195 minutes.)from any daily high or low. Rough estimate of the duration of a correction or advance by flip the high or low bar sideways (90 degrees). Increase the time size from 5min to 15min, hourly,day etc to refine accuracy. Nothing new here.