I am getting my butt handed to me on a daily basis!

Quote from tea_leaf:

Continuing onto the next EE for this trend segment (short from bar 4), we have BM REV on bar 11 as EE. Please see the attached shot. Is that correct? Thanks
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thanks for posting.

If you put boxes on your price for the cases, then you can see when you have permission to measure volume. In lats 4 and over you d a retr for every bar.

attached is the day's trading.

I marked the types of turns as well as the types of trends.

To get the whole annotation on one page I made the scale a lttle tight. You may still be able to read the annotations.
 

Attachments

EMG has posted what he believes to be the path learners follow and Mav posted an article on a Hedge Fund that does turn over of their unleveraged traders. Gradually they are using owner capital (No OPM) to build a small trading team. Salaries are determined by performance.

Here beginners start with 1 contract in ES front month.

Using the lousiest day rescently, it takes about three days to double the 1 contract margin.

when this is conpleted you remove the capital that provided the trading margin. That is, you put the money back into your family lifestyle plan.

You trade three more days and double again. This time you use the profits to begin to compound.

Days 7 and 8 allow you to add a third contract.

Day 9 allows you to add a contract to have 4 contracts running on day 10.

When you add one more contract you SIT at 5 contracts FOR A WEEK.

Then you build to 10 contracts and SIT FOR A WEEK.

same for 20 and same for 40.

Six weeks into compounding you are at about 300K net per month. It is a good idea to use PVT for parking this monthly income (less your living costs, etc.). This money doubles in two months.

When you go over 50 contracts you get noticed.

I posted prints for 100K that traded 100 contracts. My daily costs were about 4,000 a day at that time (negligible). Outsource is paying about 5 dollars a trade and does 10 trades so his costs are 50 dollars a day. This is the queasyland most frightened traders live in. Notice his corny bravado most of the time.

Above, I am suggesting how to not get queasy. You withdarw initial capital as soon as you do first doubling (3 days or so). Then you start over with 1 contract of profits.

This approach requires you to:

1. display the price cases so you see them at a glance. (10 to 100milliseconds)

2. measure volume when price gives permission. (you have 300 seconds to do this)

3. Annotate and log volume (use colored rays for the chart.)

4. Annotate the EE when it occurrs by typing its name.

5. Check the Modrian panels to find the trend type and the trend turn type.

6. Hold thru a and b turns.

7. Reverse on pairs ((n - 1) and n) for c turns for given trend types.

As you gain skills, you will take more of the full offer of the market by trading in more contracts and more markets. So far this works in about 85 markets.

Refer to the opening trade prints I did a while back. There you saw how I began a couple of days.
 
Jack,i trade 1 contract only,and sometimes add another.So if i traded 100,i`d make ~$200K per day.Is it possible without getting noticed?Is there someone after me if and when i make $200K per day?

11 elements awaits us,Jack.Counter trend is diseas for nodoji.
 
Quote from jack hershey:

thanks for posting.

If you put boxes on your price for the cases, then you can see when you have permission to measure volume. In lats 4 and over you d a retr for every bar.

attached is the day's trading.

I marked the types of turns as well as the types of trends.

To get the whole annotation on one page I made the scale a lttle tight. You may still be able to read the annotations.
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Jack,would it be ever possible for you to make your chart less cluttered?Your trying to scalp in the 0.75 point range for Christ`s sake!Lets pretend for a moment,we are after a half of the market offer.:D
 
Quote from outsource100:

Jack,would it be ever possible for you to make your chart less cluttered?Your trying to scalp in the 0.75 point range for Christ`s sake!Lets pretend for a moment,we are after a half of the market offer.:D
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Trading isn't for everyone.

I entered on bar 1 and did six reversals (bars: 3, 38, 41, 60, 66, 69 and an exit (use bar 81).

The take was 14 points per contract.

the daily range was 7.25 points.

So I made less than twice the daily range.

As you say all I did was scalp as you see it and, at that, I also made a mess of the chart.

At this rate of trading I only double my capital every other day.

I made a statement baout what learning beginners could expect. as you see by my facts in this post. I stated that 7 points (half the take) was the basis of my recommendation.

The mess on the chart I call "knowing that you know at all times".

After the first six days of trading, a beginner is trading more than 1 contract for the rest of his life.

If a trader does as I suggest, then a chart like today and getting half of the offer puts the trader in 6 weeks at and income of 300k a month.

I divided the bars of today into 8 segments. the 8 segments did two things: kept me on the correct side of the market and took the offer of the market.

In the Summer, sometimes the market is dull and slow.

On a yearly basis, I make half my money before and after Labor Day.
 
Quote from outsource100:

Jack,i trade 1 contract only,and sometimes add another.So if i traded 100,i`d make ~$200K per day.Is it possible without getting noticed?Is there someone after me if and when i make $200K per day?

11 elements awaits us,Jack.Counter trend is diseas for nodoji.
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You are contradicting yourself. Think about it.
 
Quote from jack hershey:

thanks for posting.

If you put boxes on your price for the cases, then you can see when you have permission to measure volume. In lats 4 and over you d a retr for every bar.

attached is the day's trading.

I marked the types of turns as well as the types of trends.

To get the whole annotation on one page I made the scale a lttle tight. You may still be able to read the annotations.
More...

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 permission to measure volume. So how can volume be measured if price is in a lateral or an internal?
 
Quote from bh_prop:

No such thing as a dumb question? So how can volume be measured if price is in a lateral or an internal?
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The first bar of lats or internals is measured,and then the bar(volume bar) that have a higher value in the combination.You can see the "U" mark on the Jack`s charts.It means 'use larger'.So you take a larger bar and add it to the first bar of lats/internals.
 
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