Jack, has it occurred to you that some think YOU are a putrid affliction? Who's worse... you trolling for newbies with claims and promises you fail to back-up and keep? Or "detractors" who point out your game? For example, this bizarre claim of grandeur: "I do reach my goal of 3x H-L in ES as a practice" http://www.elitetrader.com/vb/showthread.php?s=&postid=912447&highlight=#post912447 When in reality you LOST 24% in a trading contest. http://groups.google.com/group/misc...a927db8ba840?hl=en&lnk=st&q=hershey+loses+24# Or how about about your failure to turn $10K into $1M in 100 days as you promised your former IBD group you would? "and I'll be posting prints on a couple of accounts over time at elite trader just as a measure of this is how it really works... you know, just throw some money in some accounts, make 'em work for a while and we'll see how it goes. we want a change in order of magnitude... does everyone know what that means in wealth? see, right, yeah it's ten times. we'll take a $10,000 account and we'll see how long it takes to make it to 100,000... and then we'll take the $100,000 account and make it to a million... with this group. and we're doing it now and i'm starting tonight... at approximately four times the rate i need to do it, to get it done in 100 days" http://www.mediafire.com/?1gi2qygm3yh
Dear Mr Hershey, You seem well versed in the Elite Trader message board rules... Are you sure the latter is what you meant?
Sorry about that. The people doing the work are using MADA and the pattern. So the timing of taking profit segments is set within the appropriate bar. For example, I just posted and ALMOST said "GO LONG" since it was that moment in time. To trade well, timing is a very important thing. The charts are annotated so that element is included in the trading routine. From your comment, I can now see that the purpose of doing the "bizarre" charts is not understood by anyone. The exact times for the trades (we do not do entries or exits) is where the lines touch the bars. The lines are an after thought kind of thing that allow us to draw well into the future so we can see price fill up the containers as the future comes into the present. When I was enumerating each of the 25 trades, yesterday, I went from after to during to before the trades as a transition to make a point. For the bighog trading approach, I put an arrow to each of the six trades he missed. I also put the number of the bar in the text to be most explicit. So if you were bighog waiting in the bushes like a lawyer to "catch" a BO, what you do is annotate the BO ahead of time. This is done using the rule: two points form a line segment, ray or line. Thus you have a line on the right side of price. You are in the market since the last line was crossed since that automatically puts you in the market on the right side. You sit and make money and a maximum amount is there then you see price begin to move to the line you have drawn as less and less net is showing in your account. Since you are disciplined, as is bighog ,you watch and wait until price comes to the line and you follow the big hog rule of "trading BO's" by taking he net profit and entering as price moves away on increasing volume to the next RTL that will be broken to take profits. In SCT trading we do not do that . We annotate the RTLs AND the moves within the RTL and LTL. You saw the thin blue lines that contain the three moves within the RTL and LTL's colored according to the BBT "trends". All lines drawn thin to thick have four points associated with them. Three moves need four points. This at MBA school is called planting bean seeds in rows. There is one less space beteen bean plants that there are bean plants. N+1 describs the plants and N-1 describes the spaces. It is bizarre, of course. Trends do two things in trading: Continue and fail. Drawing the lines tells a person which is going on. Bighog does neither. He is a lier in the bushes as he explains. My charts were explaining continue and fail. I failed to explain that well enough. To make money you hold during continue and you take profit segments during fail. Fail is labelled accordingly as FTT. FTT means failure to traverse. Trading from FTT to FTT is the most fun in the world. In five minutes you will know this approach and choose to use it since it makes so much money all day long. For example, the long I didn't give the person who was bitching about my long informational posts done by dictating, just ended. He would have made 6 points on each of his 50 contracts for a net of 3 times ten to some power dollars. To do that myself I had to move my left mouse to a box and press it twice with enough seconds in between for my account to reverse. I used my inference with what I sensed to say "now is the time, the third move is done". For you to "get it", you need to anotate all observable trends with RTL and LTL's. USE points 1, 2, and 3. You look at the price which is inside these narrow thin lines. Every few bars the price fails to get from the right side to the left side. This means the trend is done. At the place where the failure occurs, you reverse your position. This is then labelled FTT. It is also where the opposite trend begins which you are now holding your position in on the new right side of the market. There were 25 of these places yesterday. It was what is known as a 100,000 dollar day. Go to the P&L and see a few 100K blotters. On my chart that showed all of yesterday, you can see the thin blue lines at each end of the chart. During the day the market was very rhythmic so I was just slaloming along seeing the three moves ending with FTT's. I put in medium lines at each of the thin line FTT's to keep organized since it was so "consistent" in performance. Bighog trades the BO's so I labelled them so he could see them from his bushy location. Each BO followed the medium line FTT's by a couple of bars. Look just before the BO's to see the RTL beginning with point 1 at the prior FTT. I do three times the trades as does Bighog and I front run him when he is entering. If you look at the prior day on the overall chart, you see three thin blue containers that show long, short and long. Those are three trades. Call them 4, 2, and 2 points for your 50 contracts. That is 4 times 10 to some power dollars in profits during about 10 bars of trading. You see the lines and you see the trends they represent. You see the three points to draw the lines and you see the FTT for each container. What people do to begin to time the market is draw the thin blue lines. Two consecutve bars are used to draw a rtl in thin weight. Each gets to have an FTT. You use these FTT's to draw the medium weight lines. The FTT's of the medium weight containers are used to draw the thick lines that last a half a day or so. The exact points of the trades are at the FTT places. There were 25 of these yesterday. What it looks like on a blotter is several partial fills for each part of the reversals. A few printed pages worth of partial fills. Do you feel we should be putting up these pages? No one does it simply because we are doing the common work of MADA and using the same pattern over and over. Seeing the pattern is like driving a car. We all know driving a car is bizarre. When we drive by, we all see bighog in the bushes. Drills consist of doing the work to annotate thoroughly. By doing 50 charts in detail your mind gets differentiated. At this point, you automatically know what is coming next. By always knowing that you know, you get to do the trades at the exact times FTT's are made. It is not boring since there are a lot of contracts involved and each little contract is doing its job. Your blotter is showing digits and they are multiplied by some power of ten each day. Note: since volume leads price, you get to see the points and the FTT being reached well in advance (12 seconds into the pertinent bar).
real cute Jack. Bighog trades breakouts, not noise. These last two days have been slow. This mornings +6 line got me 2 1/2 handles on 2 trades. Thank you, Also got a breakout late today at 1102.25 and nailed it at 1105.50 and called it good. Defend your own non trading and do not see fit to use me as an example. You are not and never have been in or even close to being in the same ballpark as the "HOGGIE" Just answer the guys question, you can not do that because you do not do live entry or exits. SO FUCK OFF using me in your bogus answers. PS asshole, no more posts about your phantom crap. HOG OUT!!! PS: Flattery from you is NOT needed...........find another example to drool over.
Jack lives off his partner and out of her house, he is as poor as a church mouse It's only because he has a lifetime of failure and a fragile ego he comes on here and tries to make out he trades
Hi sonyericson, It seems the only ones discussing trend following here are you me and the OP. Anyway I define a trend as the following. There can be uptrends and downtrends. Uptrends are a series of bars in which there are higher highs and higher lows. Downtrends are a series of bars in which there are lower highs and lower lows. I'm not aware of any alternative definitions of what a trend is. But I'm always keen to learn. Nizar.
My last response evaporated due to length and damn it was good. I will do my best to remember and recreate it. Your definition of "Trend" - Price direction based on determined market sentiment. My definition of "Trend" - A series of 3 or more sequential Constant Volume Bar based defined extreme (Prime) oscillations where those oscillations determine either a Bull Trend (3 sequential extreme oscillation HH's & HL's) or Bear Trend (3 sequential extreme oscillation LL's & LH's). My definition determines my sentiment or strength that price exhibits inside of my defined "Trend". The rough industry (Covel) definition of "Trend" - To extend, incline, or veer in a specified direction. (Understand I have no respect for Mr. Covel) You use your definition of "Trend" in gaging your sentiment in your decision making process to hold and reverse you positions. I use my definition of "Trend" in gaging my sentiment in my decision making process to execute entries and exits using faster factional oscillations inside my trend. The industry can't successfully use it's definition of "Trend" because it is undefined and vague. I know you don't follow trends, you use them, a bit differently than I do but you use them. A difference between us is that you are confined to trading in RTH, I am not. I can trade consistently anytime the markets are open. And I agree with you that volume leads price. I started my discovery process because I chose not to be ignorant. I knew the industry "experts" were no better or smarter than watching the talking heads arguing at 11 am EST with Kudlow steering them like a CNBC version of "Dumb and Dumber". People have an utter disdain for tying in science to trading. IMHO opinion science is harder than guessing so the preference is to take the easier road. Just an opinion mind you. Explains why a LOT of traders expect instant gratification from reading books or taking seminars. It goes a long way to explaining why a lot of people mock, harass and deride those individuals they feel MIGHT have a tad bit of information they do not possess. I agree that viewing and reading price, left to right is the only way to succeed in trading. Price direction and strength, what you call sentiment, MUST be read. Price can proceed, retrace or reverse but one must understand and trust that in order to use it. What is it like to use logic for trading? Wonderful if you excel in an object environment and your charts are non-variable in creation. Jack, the difference between us is that you have taken variable time based charts and learned who to close the loop inside that environment. I on the other hand, chose to learn how to close the loop in a non-variable environment. I also know that, on a bar by bar basis, what you do is more efficient than what I do but that doesn't mean that there aren't more than one solution to the problem of profitable trade consistency. I was the king of finding alternative solutions to logic problems in college. I found 12 new solutions in my first freshman class. Keeping an open mind is key to opening unknown doors. Ignorance will always rule Jack because it is easy to manipulate those unwilling or unable to think or test systems or methods for themselves. It's a lot easier for individuals to throw enough dirt on even the largest discoveries so it simply disappears.