Anti-Jack Trading

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So many egomaniacs here! MY books are older than anybody's, except for maybe that hebe Moses. I say unto you of Jack:

"A man who does not learn from life grows old like an ox; his body grows, but not his wisdom." (Dhammapada 11-152)

The same is true of trading. Hold no ideas dear, all is transience. Perhaps some day I will tell you how I use my Four Noble Truths and my Eightfold Path to trade NQ. When you prove to me that you deserve it.
 
Quote from hypostomus:
How cheesy of you to say that! You're just jealous because I have lots of friends here and you don't. Now get on topic and tell me something clever about trading NQ, or say something ugly about Jack. Or don't you trade NQ? I certainly hope so. In these dog days we need all the dumb liquidity we can get.
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The 'friends' your refer to are your numerous aliases under which you manufacture sh*tloads of tedious & banal tripe .. no offence intended, of course.
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OK, I know you read me because it makes you feel smart. So tell me, if you traded NQ last Friday, how did you handle the first nine minutes (shown in the attachment)? Did you think it was a sucker play, or a real rocket? I looked at it and said "Fuck me! Price hasn't retested the open or bounced off the round number (I conveniently forgot my VWAP rule and "think REAL hard before you go long below the open"). And no block orders are trying to make it break out." So I went long, hahahaha! But I made money on the subsequent exhaustion.

P.S.: "Tedious and banal tripe"? For a moment there I thought you were talking about Jack!
 

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I didn't trade the NQ on Friday, but did trade the ES. After pulling up an NQ chart (see attached) - 5 minute, I noticed a striking similarity to the ES during the same time frame. The NQ annotations where obviously made in hindsight, but I actually traded those same points in ES. Certainly, you observed the price bounce of the NQ off the daily support level (drawn in automatically by Qcharts) in real time in your own charting software? While in real time, I had no way of knowing in advance price would form a nice looking pennant formation, I did, in real time, take the breakout trade (on higher volume) which occurred on the sixth bar (Again, in ES - not NQ). My three trades prior to the breakout resulted in washes. I cannot speak to how the NQ market operates, but with ES, I often observe the market returning to the entry point, as if to ask, "Are you sure?" I have used this opportunity to 'double check' the data set used to make my entry decisions, and if I notice a change (contrary to what I had previously anticipated) I exit. I believe Jack has termed this phenomenon, "What wasn't that?" or a "Flaw" when "sweeping" the input parameters, but I cannot say for sure if I have the vocabulary correct. Following the "Are you sure?" metric for bars 2 - 4 of the ES on Friday provided the three 'wash trades' previously mentioned. Whereas, when no 'flaw' appeared on bar six, the trade netted +2.0 points (again ES - not NQ).

I hope that helps.

- Spydertrader

Edit: I intentionally left out the obvious short immediately at the open (confirmed by the MACD and Stochastics divergence on high volume) as shown by the attached NQ chart. On the ES, price remained within the previous day channel, and did not show a 'break out' to the downside.
 

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Quote from hypostomus:


Jorge, you have a warped sense of humor. To understand better why this thread is NOT hilarious, please come trade NQ with me Monday. What happens THERE is hilarious.
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hypostomus, where can I come trade with you or watch you trade the emini or NQ? Do you have a chat room? I'm interested. Thanks.
 
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Quote from hypostomus:

Jorge, you have a warped sense of humor. To understand better why this thread is NOT hilarious, please come trade NQ with me Monday. What happens THERE is hilarious.
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Quote from firstchoice:
hypostomus, where can I come trade with you or watch you trade the emini or NQ? Do you have a chat room? I'm interested. Thanks.
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Hypostomus, whenever I Jack-in to the net I'd love to follow your NQ-signals as I always seek infinite alpha on my account. I'm not much of a beta-man.
 
Spyder, thanks for the commentary. Interesting how different people see different things. I was happy justg to scalp a bit inside that morning mess, a few ticks here and there. Otherwise a good morning to tinker with codes real time. After years of reading Jack I still can't fathom how you all can work in five minute. Like watching a snail cross the sidewalk to me. I like to see what volume is doing in one minute. Better, I think, for finding tops and bottoms. Yes, I confess to being a picker (piker?).
 
Please Jorge, do not try to be funnier than I am. I am the anti-guru. My fellow B-Teamers know that I make far too much money working for a living to trade full time, and only do it when I am between lucrative insultant gigs. And besides, the way I trade would bring tears to your eyes if you could see it in real time. On a typical day I find the top or bottom three or four times, based on fantastic ratiocinations about market action that would make Spyder choke with laughter.
 
Quote from hypostomus:

Spyder, thanks for the commentary.
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Glad to help. While I still consider myself a rookie at this stuff, I have no problem passing on (as best I can) a description of what I 'see' in real-time. While the use of EOD Charts can help facilitate the transference process, in real-time, things often appear far different (when compared to viewing a chart in hindsight). For me, I didn't learn the 'Futures System' as described in detail on many threads. I used Jack's Equities Method as a guide for applying a template onto the Futures (ES) market. I do not mean to imply an ease of 'getting it.' Certainly, the many hours of screen time and experience played a substantial role. However, the very same patterns and influences we trade over in the Equities Journal appear in ES as well. The patterns simply appear with greater frequency and 'cycle' at a far faster rate of change.

Good Trading to you.

- Spydertrader
 
For sheer abusement, from time to time I am going to dissect Jackisms from his latest opus magnum. To start:

"Neither S nor R, when achieved, will be penetrated on lower volume when tested."

Gotta hand it to him, that one made me think hard. Like most tautologies do, hahahaha! You DO know what a tautology is, don't you, Jack?
 
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