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Good point - we recently sold off 7% and there was zero reduction in QE. But the perception was that the easy $$ might slow down in the near future. The market then beat bubble Ben into submission and he made certain to word things much more carefully this time around

Assume you are aware that YM did an AH violent spike after IBM earnings release and took out the yearly high by a couple ticks before falling back into this narrow 5 day consolidation range. But I know, I know, until it happens with the $DJI it didn't really happen.

MS: weren't you calling for a major low back in November and received a ton of ridicule for that as well?

Ok, if my original interpretation was correct, my original question is still unanswered. Bar 41 did not have higher volume than the origin of the lateral (bar 38) and sym bar 69 did not have higher volume than bar 68. So how can either of those 2 bars have an end of trend volume event if the...

Ok, thanks for clarifying because my interpretation has been wrong then. I thought the "use larger" simply meant use the larger volume of the 1st bar vs subsequent internal/lateral bars, which almost always resulted in 1st bar (of the formation) measurement only.

No such thing as a dumb question? I obviously have a ton to learn regarding this method so here is my question: Several times in your attached annotation a C turn point was identified that was either in a lateral (ex bar 41) or an internal (bar 69 [sym in this case]) I thought price gave...

Thanks Outsource, appreciate it!

Has Mr. Hershey posted a complete annotated log of any day in the last month or so? My mind is tired from searching this [very long] thread and I'm not finding one. Seeing a 100% correct log would be helpful in my learning curve.

Thank you for explaining that a new P1 forms after an EE. So with that in mind, I get how bars 80,81,and 1 are P1. But I would have labeled bar 2 as T1 whereas you labeled it as another P1 even though the volume was less than prior P1. Can you please explain because I am struggling my way...

And he obviously is clueless about an exit strategy so will retire and leave that minor issue to his successor.

This thread sure went into the gutter. Let's keep it on topic guys. OP: How is your Jack Hershey learning progressing?

Good thread - subscribed. Best of luck to OP on his path to consistent profitability.

Agree about TF, far and away, not even close. ES has to be the worst, tick size needs to be smaller

Already happened. Remember that white house (hoax) mini flash crash a month or so ago?

Aren't you the guy who called for a major up move against the debt ceiling selloff? You received lots of ridicule for early entry then also.

Actually, I did not know that but thanks for enlightening us. But where exactly did I say anything about OP placing a market order?!? So what happens to a stop order after hours? Do they *require* a limit price with said stop? because if not what I wrote is precisely what would happen.

Not true. A 76 stop LIMIT bid would still be sitting out there smoking the hopeium pipe. Imo OP mistakenly placed a 76 stop order which then converted to a market order since price was above 76.

I suspect the issue is using a small intraday timeframe for the system's decisions. Using ES as an example Tradestation will assume a fill if it touches the order limit prices. The issue in realtime trading is that 90% of the time ES has to trade through your order price to get filled, i.e...

seriously? on a 400 share position? lol

Best advice: exit the trade if you don't like it, it will clear your mind. There are always other trades. The other thing to consider is the commissions/slippage on option trades - why prolong an exit on a position you don't even like :confused: Do not entertain the idea of option...