Quote from oddiduro:
Question :What identifies a point JH has marked as the FTT in that channel before the bar has ended?
Question: Isn't it logically required that a FAILURE is given the entire bar to develop before it is pronounced a FAILURE ? Until the bar is over anything can happen.
Answer: Prorata Volume.
from grob109: "If a person trades price only and wants to limit himself he can use this chart as a sufficient data set to produce a mechanical system that spits out a multiple of the daily high low."
Quote from oddiduro:
CL, you asked a simple question, and I gave you a simple answer.
Now, I am not really concerned with going up the road that you are trying to go. If you believe the trades were selected with the benefit of hindsight, that's fine with me. I really don't care to that degree. Jack teaches a lot of things that have to be used as an integrated system. For those that can do that, money is made. For those that cannot do that, they should try something else. There are many ways to extract money from the market, and it is becoming clear to me that Jack's way of explaining market behavior may not be for you. That does not make you dumb, nor does understanding what Jack is saying make any of us smart. Sometimes things just do not resonate with people.
There is another nice system that uses keltner channels and a chaikin oscillator. Bill Williams uses a MACD and an Elliot Wave combination. WDGann uses confluence points between price and time. Connie Brown uses RSI and a stochastic of the RSI as far as I can tell. There is also a good thread about trading hammers.
Maybe Jack is not for you CL, I detect that you are more interested in being advarsarial, and I am finally growing weary of playing the good samaritan. If you wish to continue to learn Jack's methods, I must insist that you gather a baseline of information regarding the methods, put on some real time trades and then we can do after action reports on your trading day.
Best Regards
Oddi
Quote from steve46:
So if I hear you right, you are asking Chicken Parts to do some of his own homework.
Why should he do that. After all, that would take effort and persistence and what would he do if he started to make money.
Then his whole agenda is screwed.
Be careful Oddi, no good deed.....
Steve
Quote from Chicken Little:
Asking questions is not "homework" ?
What are you adding to this thread ?
Quote from Chicken Little:
This chart doesn't show volume. And if it did, it would be 5 minute volume, not pro rata. And JH mentions in the above post that price only is considered.
But thanks for your response. It doesnt seem likely, but only input from JH will move this forward to reproduce the trading as he has shown. Otherwise I will have to believe its a fine example of people fooling themselves with charts at the end of the day marking spots where they "would have" traded.
Quote from HoustonMark:
He is adding plenty as did Oddi.
Some things never change...give me a method I can understand in a half a day that will make me rich...if you can't, you must be a charlatan...
What a load of elite losers...certainly not traders.....
My favorite....trade real time and prove you can trade....for nothing......why should anyone who has offered a method (for free) feel the need to prove anything? Because you insist???...haha...get a life....
Why anyone that really can trade frequents this board is beyond me...cyber soap opera is overstatement....
Spend the time you spend on this board picking a method and studying same....you may find it useful or you may find it doesn't suit you.....you will have learned something regardless of the outcome....
More time studying markets/methods and less time dreaming up witty replies on boards such as this MAY be the answer.....
Quote from oddiduro:
I have had enough CL, if this were a collegiate environment the professor would have little else to do with you. You are not serious.
You do not seem willing to do your homework, as steve46 and a few others in PM have pointed out to me. If you do not understand the concept of prorata volume, then I cannot take you any further. You need to remediate this deficit by going back and doing some reading.
If you put on some trades as instructed, we can do some AARs on them. Otherwise, you have not demonstrated in any way that you have an understanding of fundamentals.
When you can show an understanding of fundamentals, then we can go forward.
There seems to be an overwhelming opinion that you are not here to learn, why is that?
Best Regards
Oddi
Quote from HoustonMark:
He is adding plenty as did Oddi.
Some things never change...give me a method I can understand in a half a day that will make me rich...if you can't, you must be a charlatan...
What a load of elite losers...certainly not traders.....
My favorite....trade real time and prove you can trade....for nothing......why should anyone who has offered a method (for free) feel the need to prove anything? Because you insist???...haha...get a life....
Why anyone that really can trade frequents this board is beyond me...cyber soap opera is overstatement....
Spend the time you spend on this board picking a method and studying same....you may find it useful or you may find it doesn't suit you.....you will have learned something regardless of the outcome....
More time studying markets/methods and less time dreaming up witty replies on boards such as this MAY be the answer.....
Quote from Chicken Little:
What method is offered ? Sell the exact highs and buy the exact lows ?
Yeah, you trade.
What are you adding to the discussion of channel trading ?
I offer a half cent for your two cents.