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cnms2
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Everything posted by cnms2
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......................................... :helloooo:
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I thought you're not following Jack's mumbo jumbo ...
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SCTlearning from scratch Mar 4th, 2014, 02:56 PM #63 jack hershey
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I posted mostly for others' benefit;
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In this case you are mistaken. Just 4 points per contract per day, on a 30 point margin account, means 13% daily. In a bear market you may have long periods when no stock passes the quality screen. Not all stock trades are profitable, while a 4 point a day can be easily accomplished by an advanced beginner who scalps the dominants. Regarding your daily degapping question, you didn't think it thoroughly before asking: if you hold overnight obviously the gap matters, because it affects you P&L. My replies are meant to give my point of view not necessarily only for your benefit (it seems you don't agree with my opinions), but to keep others from getting confused or side tracked. And one more: spydertrader documented how he traded successfully, while learning, the PVT. It doesn't matter if there is another who trades it successfully or not today. PVT is a good introduction to Hershey's methods, and many who struggle today with SCT are in that position because they skipped learning PVT. PVT teaches you the importance of the volume, and many fail because they focus too much, or only, on price. The questions one asks tell a lot about his knowledge, and there is no shame to not know something and ask. There's a problem only when somebody doesn't know he doesn't know, and he misleads others. But we're all adults here, and we know that the anonymity of the internet may hide traps.
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PVT makes sense only for beginners, to learn the basics of price volume on a long biased trade vehicle. Mostly everybody moved to SCT. SCT on a future vehicle makes much more money, and offers more opportunities and control in all types of markets. Check spydertrader's Equity Journals, where he documented his PVT learning process.
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You're on to something: each day reverse short at market opening, and reverse long at market closing! Amateurs control the opening hour, professionals control the closing hour.
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ping .
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Jun 2013 – Rollover is Thursday, June 13th , 2013 and Settlement date is Friday, June 21st, 2013 Sep 2013 – Rollover is Thursday, September 12th, 2013 and Settlement date is Friday, September 20th, 2013 Dec 2013 – Rollover is Thursday, December 12th, 2013 and Settlement date is Friday, December 20th, 2013
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I intended to draw a picture to bring light on your question #8. Note the ve, gaussians that define the events, the fractal integrity.
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You too! .
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Not for clowns. .
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The bar 2 ve seems more important to me.
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It seems you're operating under false assumptions on several levels: this method, what you deserve, how to ask for something you need. Being polite never hurts.
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I would annotate it a little differently.
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I find laudable that FilterTip shared some of his understandings of this method, and nobody should be discouraged in doing the same, as much as he feels comfortable doing. We all know that this is the Internet, and we can find treasures, garbage, altruists, jerks, and everything in between with no easy means of distinguishing among them.
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Never seen so much interest in this thread. I guess it's a mistake:
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I guess your question is if jb trades that fractal (traverse), one fractal above (tape) or one bellow (channel). If you daytrade, you should try to identify all three moves inside each single day. For example, you could have about 9 trades (traverses) of 9 bar average, built of 27 tapes, forming 3 channels. Don't forget that the volume information is of paramount importance for this method, so you want to rely on it when you determine your working fractals. When you span over multiple days it is more difficult to make sense of the intraday volume data. Don't use the volume pane just to annotate what you're seeing in the price pane!
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I'm not commenting on your annotations; I just used your chart to highlight where the trough of the B2B forms.
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Your posts prove that you need to work on improving your MADA.
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Very good point! It seems these days not even Jack and Spydertrader trade this method at its full potential. Why? Good enough is okay.
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Last night spatial posted a link to this:
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Again you misunderstood my post. Relax, take a step back, and think again, ... or not.
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Guys, I understand disappointment and frustration when things don't go as you expect, but shake it off and concentrate ... Many of you have a pretty serious amount of experience with this method to put things head to head even when they're not spelled out for you. All those names basically have correspondence in volume gaussians' points, and all those gaussians have correspondence in the price containers' points. For example: what does T1 mean? It means the crossing of the RTL, the "2" in the x2xyx. Currently many of you do it the other way: you draw price containers, and your volume gaussians just mimic what you think you have in the price pane (which is not exactly correct, and that's why you have difficulties) Jack showed everybody where to look for trading points, he made real-time and anticipatory calls, and he showed that even mechanically applying coarse tools overall you'll be profitable. He showed that you don't have to be always right, that you won't have only winning trades, but that if you consistently stay on the right side of the market you win. He showed that the volume is the independent variable, and that it leads the price. Man up: fight it, or leave it! Don't bitch about it!
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I'm not using TN. The example I posted was a cut and paste from Jack's chart posted on ET.