ES Journal Archive (2009 - 2010)
- Thread starter Jahajee
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truth is, a lot of people won't even bother to watch that video because it is nearly one hour long. who's got that much time to waste on something that probably doesn't even work anyway? sifts out the majority of people who click that link and leave inside of the first five minutes, max.
of the minority who stay for the whole show, relatively few will actually use that information going forward in their charts. why? many reasons actually, most based on trader ego.
but one overwhelming reason is that trading as a business operation, trading as a home-based retail professional is usually boring. and that's what prevents most aspiring traders from success. they come in thinking that trading is high-octane, high adrenaline, high action excitement.
they want to click in 1,000 orders a day. they want to mimic the guys shown on CNBC that furiously clack away at hotkeys sending 1,000s of orders all day long. they want to pretend they are big-swinging markets movers with power, control, respect of the market and their peers.
bang. bang-bang. bang-bang-bang-bang... go the frenetic emini nintendo players. all day, every day
in time, those day-bangers find themselves with richer brokers and broker trading accounts. at that point they either wise up and figure out how to be precision snipers or they remain machine-gun fodder until the account is closed for trading.
nodoji is one example of a trader who has adopted the military sniper approach. by her admission and descriptions, she patiently waits thru periods of boredom until the market offers something she identifes as a target for her edge.
CM ControlBar sequence patterns are a patient game. They are about sitting on your hands until something defined, consistent and repeated shows up. There you have an edge. Then you take action. Then you let the market do what it does: explore price in auction theory. Up and down. In your favor... because you let price and its own measurement tell you so
Quote from austinp:
CM Control-Bar Study
I'm pretty sure it works off that page, but here's the direct link. I'm even more sure there will be price-turn or continuation patterns in the market today, and every day
Nice video. Much appreciated.
I believe the vol spike was the main tell yesterday. You don't get that kind of clarity everyday.
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