Quote from John Merchant:
Uh, Jack, just a couple of caveats. Bracket breakouts from low volume are easy to test, and they, like, uh, don't WORK? And, uh, how do you explain that LOW volume consolidations after big runs often presage another big run? Uh, wasn't it YOU who talked about rockets?
This caveat group above is missing two words that you should remind yourself to type on your behalf.
To wit:
Uh, Jack, just a couple of caveats. Bracket breakouts from low volume are easy to test, and they, like, uh, don't WORKfor me
If anyone is reading your stuff for any reason, they should put these two words, FOR ME, in your mouth for almost every statement you make. Back testing doesn't work for you as you have statede in many many different ways and for many many different resons.
Turning to an early afternoon BO in volume and then in price that is bracketed, there is an entry on price movement and the accompanying increasing volume. Following the market taking the trader into a trade, the market continues to operate. The trader is now focused on gaining experience, primarily in a manner that is sensual. Sensing is paired with EMOTION. I asked, only, that the person sense increasing volume and, then, its comng to an end. That acheived, the task at hand is to simply decide to act promptly to exit and continue to sense the market from the sidelines.
This does not involve knowledge(your knowledge is that BO's do not work; the person doing the drill is not using knowledge; he is just behaving himself in a drill). This does not involve skills. There is no skill involved in setting up brackets outside the trading range of the market in a low volume situation where there is no price movement. It is like golfing with rented clubs on a new course using old balls bought from a kid who collects them for pocket money. The person is not playing golf as yet. He is just spending time that is not recoverable. What is powerful and worthwhile is that he is finding out how lousy clubs work, roughly speaking.
Experience is being gained , however. Almost all of the time price peaks (troughs) on a volume peak which is last in a three part sequence of BO, brackets being hit, and volume peaking which causes an exit. The other alternative sequential non-trivial possibilities preclude the person from trading.
The remaining two comments in the your caveat group are unrelated to the initial drill comment. How trends link to one another is not a usual ET topic and in the case of your topic, you are dealing with what is called a myth. Rockets, the last comment are not drills. At some point, it is a good idea for anyone to try to develop a vocabulary related to making money. For now, try to understand that drills are not trading and trading is not doing drills. There are things mentiioned in this thread like "plans" when there is not plan nor was a plan possible. This is an example of vocabulary difficulties. everyone has a vocabulary derived from knowledge and skills and experience. For example, your vocabulary, as it relates to trading is couched in theskill level that you have attained. Once in a while, I use a vocabulary and style that is goobly ggok and garbled to you and most others here. I am talking about foreign things to you and most others. This apparent shortcoming in my run on textual treaments, has another cause that has not occurred to you as yet. I am actually talking down to you. I am obliging you to "understand" me; your choice, and one not taken so far. My dicussion here is not a trading discussion; it is merely a profound statement designed to let the thread originator find out where he is. In your case, you are not getting anything I say for reasons that trap you continually. Too bad for you and good for the ET audience; it serves as a caution to not get to where you reside and are permenantly stuck and dissabled. Your choice.
snip...
And, uh, Jack, please stop telling people they can "wash" without a loss. It ain't, uh, evident you should "wash" until you are in a loss position.
Lets do the FOR ME thing once more. This time what you meant to say was that "FOR YOU" it is not evident to wash until it is too late to wash.
I am requesting people to think about the drills I recommended. as someone suggests rereading the drill post is a good idea. Actually it has to be reread until a person gets it straight that drills ar a requirement for learning to trade. What this means is that a person has to do drills over and over and over in the lreal market with real money to learn to learn to trade. Learning to learn to trade always comes before learning to trade.
Fortuitously, this is the segway to my addressing you. You have not learned how to "wash", apparently. When I propose a drill, I build into it what is required to succeed with the drill. the four times I mention for doing washes are times when a person is able to enter and leave the market at least risk. The market takes him in on brackets except when he does washes during the times I recommended. Bracket entries lead to profits and washes, to the degree that the person has any alertness and is watching volume. Lets say he is not alert and ignores volume and only watches price. If he come to the conclusion that have a market exit in place at all times on his trading platform, he is just saddled with the opportunity of "hitting T"in this drill. It is a drill.
I upped the ante for washes as well. I suggested two slow times during the day. At first, I understand that the drill will be done under "favorable" circumstances, primarily. This is a sort of soft way to begin and not fail. you are a "too smart" person so that is not possible for you and you will fuck up washes all your life. Others will not, however. there will come a point in practising drills on washing where a person moves from favorable entries to neutral entries. Here he learns the technique of "sweating". He learns to "hit T" promptly when he gets to the rational place of understanding that you only go into the market to "make money". He will return to only doing favorable entries that provide good washes. His experience teaches him to not make trades that cannot be washed. WHAT A LESSON. You, on the other hand, are still learning to be an asshole here in ET.
No one doing drills on washes would ever enter an unfavorable market. There is no rational reason to ever do such a thing. Learning to do only highly rational things is a very important aspect of the drill. Like why do you post all this irrational shit that you do???
It's like, uh, floor rotations try to shake you out? You talk about 1-2-3. Think about 1-2-3 ticks. Maybe even 4. Otherwise, a very good post. Except that you never mention oil. It's like, uh, we've transitioned from sperm oil to petroleum since you were a kid.
So you wrap up your comments with a statement of the fear you have of trading. You made a conscious choice between learning to trade and be very wealthy and learning to try to beat the market out of a few ticks occasionally. Oh, going for four ticks is a super limitation to place upon yourself mentally and emotionally. The contrast between your ilk and my ilk is sharp and defining.
What I have posted here these two days is simply a statement that extrapolates a couple of caring statements made by people who help others. Drills will get this guy to a place the learn how to learn about trading. I formulated a good beginning for almost anyone. what you took the trouble to do was nothing except to show everyone that you do not know where the guy is, you do not know how to trade, nor do you know anything about helping anyone out. you certainlt, most effectiviely, also proved you cannot offer a rational criticism, either. What a jerk!!
