Wow! Didn't expect I can get so much info & advices. I was called out today to help my uncle moving his stuff all day long & was just back after 9:00PM. Thanks for all the replies and I think I need some time to digest them, but I bet some of them will be very helpful for me. (Especailly Grob's)
etherboy, If, they (prices) are going up - buy - place a protective stop and wait a little while. If, they are going down - sell - place a protective stop and wait a little while. If you find yourself in a profitable position (and didn't get stopped out), trail your stop into a profitable risk free trade and wait and see what the market will give you or take profits at or near prior Support/Resistance. (S or R - depending on whether you are long or short) Keep it simple and trade small - keep in mind the prevailing daily trend (if there is one) - always honor your stops (never ride an unprofitable position) - through time and experience you will better understand where to place stops - for now just keep them reasonably close to your entries. Sometimes you will get stopped out at the high of move or low of move - that's just part of trading - move on and seek the next opportunity. (riding an unprofitable position will rob you from being able to exploit opportunities) Be aware of your emotions whether in an unprofitable position or profitable. Over time, working a plan, emotions should subside. (somewhat ) It's just a job. Interesting topic and if you wish to attempt to pursue exploiting differences between cash and futures, then have at it. Just do it with some solid trading rules. Best regards, plumlazy
I set this up today and monitored it all day. I really couldnt detect any lead to it. Its easy to see the turns after the fact but not as they happen. Can you give me another hint.
Easyrider, This is normal with Jack's stuff (grob as of late). Happens to many people. I'm sure he'll come back with some more. Try do do your own thinking though. This also takes some time, but at least you may get somewhere. Good luck to you, nononsense
no Ive always done my own thinking but I love learning something new and will run down many blind alleys in pursuit of anything that will take my trading up another notch. I aint givin up on Jack just yet.
I am not a huckster for eSignal, but this can be easily plotted using eSignal advanced charts. I have been using this invaluable lesson from Jack for awhile and he has been telling people on ET about this for quite some time. I am glad that everyone is finally catching on. In eSignal, I just enter into an advanced chart: $indu[space]-YM h4 (or $compq[space] -nq h4) and set it as a 1 minute fractal. The resulting line shows, in real time, the stretch or squeeze occuring as a spike up or a spike down. Visually, this method is not as easy as Jack's setup in Qcharts, as you have to take note of the values of the stretch and the squeez to determine what side of the market to be on. I also run a 10 period sma to help show me the direction the offset value may be heading over time. Sometimes this helps anticipate a larger trend beginning. One question though....Jack, in using your log (which I have not implemented yet in my daily trading), I am confused as to what the value "Net INDU" is supposed to be. Is this just the value of the offset? Also, for each trade or entry in the log, wouldn't the "Squ", "Neut", and "STR" values be relatively equal in each entry (over a given day of course as these values would potentially vary each day)?