Are there indicators that help spot breakouts?

Quote from jack hershey:

I never post there as you may know.

Occassionally my name comes up in a derrogatory sense; that is par for price action traders. They feel I am kinda screwed up and can't make the money I mention occassionally.

I think susanaDT was verey straight forward in why she said she dropped all kinds of trading approaches (all are profitable, I believe)
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I know you don't post there, but clearly you read it.

It's so amusing how the PA traders arrogantly look down their noses at their indicator counterparts. I think in many ways, your remarks on the evolution of losing traders such as SusanaDT are right on.

That's not to say I agree with 99% of the other stuff you write about, but on this issue, you hit the nail on the head.
 
Quote from jack hershey:

Redo the Connors-Hayward volatility compression by normalizing it so you have a neutral bias.

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You can see in the lower right the stretch squeeze window shows the compression into the "noise band" and that signal tells you to knock off the turn as the VE (Volatiity expansion)begins with the four black bars. You can see the "long" trade showing up on all the rest of the seven leading indicators on that part of the display. The normizing of the C-H is what makes the bar color give you the direction vector as the bar forms in the "noise band" and before it shifts up to signal long by the shifting (use it as a confirmation).
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Any way to get a larger view of that pic?
 
Quote from lilduckling:

Jack you used to be a salesman right?

Have you ever seen the movie Glengarry GlenRoss??

You remind me of "the machine"
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i did alittle.

for high tickets my best five months were 225 million.

For production we just did multiples of records and got our names off the perfomance (top 50 lists, global 500 type company) We shot for 4 to 7 times the second best. Our starting commission schedules for newbies were 350K min during training period. 4 to seven times is in the 2mil plus category on 150 dollar commission per unit. Or I would run up the unit commissions by changing the product sale point. like changing and average comissish of 480 to over 5,000 per unit. Made the hourly equivalent shift greatly.

we just shifted our operation out of the local office for one product. we now can compete with the whole office by having a connection into the system from a national point of view. So we can hire, have free custom ads and a whole additional level of overrides. no sales persons penalties. we are back logged 34,000 leads right now at 440 a pop. Our calls per week per group meeting are 25, 18 meetings, and 30 closes. we will use a wide conveyor belt and we have historically a 3:1 referal rate. so it is a cash cow. We use mail turn arounds to make it easy if people can't come to meetings (all advertised and reservation exclusive call extensions handled by parent company).

I am kinda happy go lucky and I always check out the way to groove from scratch starts. The sales world is not too swift. cookie cutting and compression is best.

We always sell all products available in the territory so we cut through competition like wildfire. Everyone up stream wants numbers and so they get numbers. Nowadays products change every year and most clients expect us to sell them every year to their best advantage.
 
Quote from jack hershey:



sometimes in the winter after plowing, the darn ducks would get caught by cars whyen they couldn't paddle over the snow banks.
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dont you mean horse and buggy???

Just kidding, Mennonites dress like the Amish, but drive cars

:D
 
Quote from Spydertrader:

YM and ES OTR Charts. DOM Walls and STR-SQU.

- Spydertrader
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the DOM has script for stalagmites or tires your pref and there is also a 50+ T&S. I use all T&S as well.

If you enlarge it it just gets a little fuzzy I guess. My problem in being helpful is that I save snag in a format not used by ET so I have to go to paint to re save and I miss on size as well as clarity.

I have posted this screen image before under other circumstances and usually with related annotation. I'll look up a few. Now, I am building books of annotations and firing up old full computers briefly to archive various periods of trading. We are scanning box fulls of records as well.

My main point with the post was to simply illustrate a screen full of leading indicators. I will try to locate a scan that is annotated with arrows that show my eye movements when I am at the bottom of the 9 table sweeps chart.

Trading is simply done with the least effort per MADA to get certainty through sufficiency. Actually each thing you view on the sweeps chart is certain since it is all GO/NO GO (binary). You use level3 then level 2 then level 1 which is this screen.

As soon as Continue shows on the sweep you stop the M of MADA and use a C in the log for MODE and that takes you to an H in the last A of MADA. Thus unless you are at level 1, you do NOT use this screen.

At the bottom of the sweep , if you get there, then you go through "carving the turn".

At intermediate you do 15 trades a day on level 2. as you approach more precision of level 1, you are improving the ticks you make on each of the 15 reversals. 2 ticks on each side of the reverse is common. So 2 +2 = 4 and the 4 is a point. 15 reversals with this added precison is 15 points a day additional profits. So this screen is a handy addition.

At expert, you are trading level3, level 2 and level 1; this doubles the reversals to 20 to 40 a day, give or take. At this point you are trading the tapes that form the traverses of the channels.

Moving from beginner to intermediate to expert does not mean you drop the beginner signals or later the intermediate signals. Instead they all work together like adding more soldiers to widen a column of marchers. I refer to it a widening the conveyor belt to add more profits while the belt runs.

As we saw today on CNBC a beginer won the contest. He learned to not trade on fibs. LOL edwin burke.

Attached below is the sweep sheet.

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looks like pdf's do not insert either. So far I can't insert .doc's and .pdf's.
 

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The zone surrounding the breakout is the selling zone, those who bought at that level are happy with break even or having small profit after a prolonged paper losing with worry and hurt. So you wait until it has passed this selling zone with a comfortable distance.

Quote from Andris_2:

I think the real question is how to avoid false breakouts.
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I wasn't going to do this, but I may as well. Here is the Ultimate Breakout Indicator of all time. It never misses.

Jack doesn't have it.
Spyder doesn't have it.
In fact nobody but me has it.
<a href="http://tinypic.com" target="_blank"><img src="http://i33.tinypic.com/2ewgosn.png" border="0" alt="Image and video hosting by TinyPic"></a>
 
I would like to thank the OP of this thread for starting a thread that turned out to become one of the FUNNIEST threads in recent times here on ET!

I would also like to thank Jack Hersey, with out his contributions none of this would've been possible.

Thank you
 
Jack Hershey calls me out.

Jack you are a decade late. - the office I owned was using ravenquote over qcharts before there was an elite trader. if you were to understand my comments in the past to you - you would know I was a decade ahead of you. This is part of the reason why I know you are mostly full of shit sprinkled with s few decent observations.

Qcharts is too slow and it time splices out its data on important indicators such as premium and tiki If indicator only updates every six seconds it is not useful for scalping or making decisions about premium and whatever you used to call it.

Years ago I made ET comments the 3 data providers I used concurrently back then. At one point I had four.

I needed one of my providers because they provided the "fast cash" and premium in real time. I calculated my tick and tiki in a proprietary manner and I could front run programs on the qqq. The key was real time premium and fast cash not the delayed shit you look at.

My daytrading office made hundreds of thousands probably millions for about a year doing this back before the qqqs could be arbed with ecns or electronic futures.

I also used raven quote layered over qcharts to take the the 2O day and 65 day average vol and divide it into how many minutes there were in the trading day. If you had access to the 20 day you would see it is far more revealing than the 65 day.

jack not only was I doing then what you are doing now, but, Tony Oz wrote indicators for Real Tick that scan and find many of the stocks you find. he had two. one had to do with new highs and new lows on lower volume stocks and one was the "new kids on the block" scan.

If you paid attention to those you would frequently see the IBD stocks which are now called the IBD 100.

Back then you had to sort the stocks out for yourself as I do not think the IBD 100 was promoted in the mid to late 90s.

You had to take the friday paper and do the work over the weekend.

By the way back then there was live wire and another program out of Utah that you could customize to do it.

now you can even get tradestation to do what you do.


Let us know when you get off the simulator jack.
 
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