Quote from Eldredge:
Thanks for the replies. I looked at the other thread, and realized that Johnny Rotten wasn't too pleased with the continued discussion of his method. I tried to e-mail JR or Simtrader, but couldn't.
What can I say, when a person is banned, you are not permitted to talk with them privately even if you want to!!! Bad for your health you see.
Actually, it's funny because in a weird way this board has grown on me. There's still the dweebs (read 'Elite' members) waffling on with their inane one-liners, but I've come to appreciate that there's a pretty loose rein given on censorship. The JR ban was totally ridiculous given the contribution and lack of any warning, but overall this board is better than most. I've actually managed to get banned from a couple of places within 48 hours without using a single swear word!
The only reason I took exception to db's re-posting the method was because I felt it wasn't an accurate reflection of its potential and was more of a disservice to those interested in it, since it slashed the whole thing in half by cutting out the Eurex symbols. "JR Lite" I called it ...and because it stripped out all inter-market analysis (the guts) that is what it was. Otherwise, re-post and analyse away ...it's out there for public consumption after all ...& db's OK with me, as much as any elite member can be (his sarcasm makes me laugh).
In terms of it's ability to make money lately: the method posted as is, would be very hard to do with great profit when trading the ES and NQ this last month or two. In that analysis, db is correct. The good news is that, it should also have been hard to lose money this past month or two. The rules should have kept you out and doing nothing on most days. That's encouraging. Because markets change and when we start seeing trendier action, the profitability should return.
So, how to make money in the meantime? ADAPT. I guess you could try trading ranges, buying lows, selling highs but I'm really hprrible at such trading so I don't do it. My attitude is to stick to what I am comfortable with, but adapt my rules and more importantly the markets traded. This method still works a treat in the DAX using a 10 point (250 Euro) target nearly everyday. So while you US-centric folk are staring at your crappy ES charts all day ...you probably missed those one or two winners in the DAX. The truth is that I can't even remember the last time I took a trade in the ES or NQ, such has been my 'shift'. I'm not saying the DAX is the "be all and end all" but I do like the way it moves compared to the ES right now.
I've even been using this method on a 1 minute DAX chart using a 5 point target with 3 point stop and BE trigger after 2.5 points. Practically scalping which I said to never do in the original thread! Do that 4-5 times a day (maybe with only one winner and 4 BE's) ...add-on your single or double 10 point gainer and sit back and laugh at the ES/NQ. As I crudely put it in the original thread: don't trade in the "shit". How many of you guys even know that the DAX is still open between 09:30 and 14:00 EST? That said, I have seen one or two instances in the ES of late where the classic pattern has worked well.
Find a symbol that moves and change your timeframe and targets if need be. But understand if any market moves, then guaranteed then many of those moves will be setup on the top or bottom of the Bollinger line. The rest is adaptation, interpretation and application. Remember, it's not a mechanical method. The world has moved on since JR was killed, so has the method, although the core concept remains. To move with the times requires another discussion. But doing that risks the tweebs coming out the woodwork to hound me, and someone wanting to ban me. Do I need that in my life? I don't think so.
