Thanks for once again confirming that SCT is overly complicated garbage ... I really do appreciate your posts, m'man, I really do. (I swear he is not getting anything "under the table" folks, I swear it ...
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Jack Hershey methods
- Thread starter OddTrader
- Start date
)There was a conversation a while back about a day in trading.
A person imposed on a broker to get him to review the day. The broker was not even asked ahead of time.
But he did the review as a courtesy to the person who imposed upon him.
What do you think happened as a result of the review?
a. to the broker who acted as a third party?
b. to the person who imposed upon the broker?
c. to the broker who provided the info?
d. to me?
One thing that happened was that all four people maintained their integrity.
Another time, I posted a day's results here. The response by one person was that he knew a software where it could have been "made up". He had the software, he said. I believe he did. He has left day trading and now he is an employee of others where he does software.
David Boucher wote an article on making money and it used a ratio where the day's trades were divided by the daily range. He did not fill in numbers such as I speak of. He used software of his origin to get the results he put in the tables in the article. you can see here that the Q's I asked about the article are being answered by various people with various answers that typify their orientation to trading, doing searches of available information and their general trading understanding scope and bounds.
Gary Smith characterized his long struggle to become expert and he, before the book ws published, commented on his best day in a forum or two. The forum had contributors like you and your kind in it. Gary has written several books by now and is a successful author as well as a succesful trader. I'm sure those who read him do learn from him or, some, as you do, would not learn from him nor believe what he wrote. Gary doesn't care nor does his publisher.
In this thread some of us are introducing you to others who are successful. A lot of successful people have similar thoughts about how the market works and how to trade it using common tools.
This thread is about protecting newbies from the pitfalls of trading and in particular the pitfalls a person can run into using the principles of pool extraction and some very common tools of trading.
here is what it is like to only make onepoint a day forever and add contracts from profits for 135 days. The result at the end of 135 days is a profit of 100,000 dollars. As was pointed out 100,000 dollars is not much. the table is: contracts, days, profits
1, 40, 2,000
2, 20, 2,000
4, 10, 2,000
8, 5, 2,000
16, 3, 2,400
32, 2, 3,200
Repeat @ 32 for 27 1/2 days to make the remaining 88,000 dollars.
Total days 135, total profits 100,000 dollars profit per day per comtract 1 point throughout.
As has been by some, 100,000 days do occur in each quarter where a nominal 20 to 30 contracts are traded. It is common for those who do this to remember and joke about those days. Perhaps you have not had this experience for some reasons. were I you I would check out those reasons and why you are so steadfast in keeping your orientation.
Mandelbro is sixteen so you can't blame him really
"I think its good to have a loss on the record"
***
Is it true Jack, did you really say that? :eek:
Do you realize how ... nOObish that makes you look?
Do you?
***
Is it true Jack, did you really say that? :eek:
Do you realize how ... nOObish that makes you look?
Do you?
The settings I use were prompted by the advent of the PC. the PC made it possible for a lot of people to begin to use charts since the computer did the work for them and there was no longer a requirement to do charts manually of have subscriptions which generally came as weekly EOD updates.
the why of it was eemonstrated in the SPM thread recently where the original defaults of MACD were used. They bridge in chop, etc. To soup up SPM it was necessary to not use the original defaults.
Any indicator can be used to lead price. An application that simulates calculus as applied to continuous functions is commonly deployed. The application is simply a stat ap.
At any price turn, it is commonly known that the first derivative with respect to time on a non stationary data set goes to 0. The second deriviative with respect to time is also an good indicator for the timing of the first derivative. Since price is not a continuous function (for sveral reasons) stats have to be used.
For those who like simple visuals of this, you can use three MLR's tuned to the ratio of 4:2:1. the jargon I assigned to this is the "pinwheel". a sensitive measure of their performance is the do a time rate of change of the angular velocities; the resulting three curves are cool indicators as are the second derivatives of the angular velocity.
A lot of people were slow to adopt the new defaults for MACD. the fact that most settled on the same ones after their introduction can be considered as the suggestion that coccaine made to help others understand that a lot of expert traders (high money velocity) do use a lot of common tools that are very productive.
I referenced David boucher's zig - zag David 1 ATS. You ought to do a backtest on his data using your stuff so you can understand better where you are missing the boat in your back testing. If you screw his stuff up as badly as you screwed up the stuff you posted here, you will be making some progress, perhaps. right now, you probably will come up with an Opportunity Leverage that is negative as you usually do. see if you can relate the Opportunity Leverage to an equity curve whther compounded or not. LOL...
Thank you for being a foil as usual.
LOL ... jack will you please stop embarrassing yourself?
I know you think people read all that junk, but to be honest with you, they don't.
What language does Jack use? It looks like English, but it is as cryptic as the Mayan language...
How about if I can relate you to an internet pied piper instead, who claims he reaches his "goal of 3x H-L in ES as a practice," yet returned -24% in a trading contest? LOL...
My methodology & equity curves for testing "rockets" and buying the 0 to 7 turn of the "P,V Boolean relation":
http://www.elitetrader.com/vb/showthread.php?s=&postid=1936900#post1936900
Here I compared and contrasted you and your new "paradigm" with Bill Eckhardt and the "conventional orthodoxy":
http://www.elitetrader.com/vb/showthread.php?s=&postid=1825012&highlight=real+deal#post1825012
My methodology & equity curves for testing "rockets" and buying the 0 to 7 turn of the "P,V Boolean relation":
http://www.elitetrader.com/vb/showthread.php?s=&postid=1936900#post1936900
Here I compared and contrasted you and your new "paradigm" with Bill Eckhardt and the "conventional orthodoxy":
http://www.elitetrader.com/vb/showthread.php?s=&postid=1825012&highlight=real+deal#post1825012