Question for Grob/Hershey...

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We do hang on your every word it seems. :)

My goal at this time is to learn how to trade the 5M fractional w/o a sweat. A lot of people have the most problems on strong trending days. I'm no exception. Right after I started trading the YM the market had a 200 point down day. The biggest in over two years. I almost blew out my small account that day. Juking wihen I should have been jiving!!! The PRV tool has slowed the market down for me. Maybe it's just psychological but it has....The trend is your friend until it isn't.

Storytime:

I had just read "The Market Maker's Edge" a couple of years ago and tried to apply the authors strategy to my trade which was a penny stock going ballistic. Everything was text book. The stock was in a uptrend, had a small pull-back, moving averages crossed positive, and the price ticked above the previous intraday high on strong volume. I was already up $24K (long hold) and added. Well, it turned and before I could get out my trade was worth $15K....To this day I have a problem getting in during a strong intraday trend. Gotta fix that. I will occasionally dive in the middle of an "air bubble" as Art Cashin calls them. :D
 
Quote from Ragincajun:

. A lot of people have the most problems on strong trending days. ]

What kind of day it is really doesnt matter. You trade off your signals and they are either there or they are not. This is the beauty of Jacks approach to the market. You dont have to think. You train yourself to follow the signals. Like a bloodhound on the scent you are not interested in anything else. Its really quite liberating.
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Following are some things some of you may find interesting regarding S/R. I ran across it by accident a while back. Go to this
page and plot the pivot points along with the Market Profile numbers to the Cash chart. You will be using numbers from the previous trading day. For example on Friday I was using the numbers created from Thursdays trading session. There is a drop down menu there to choose from for back-testing. You will be amazed to see how often these numbers come into play. You can also plot them on the futures (YM, ES, etc) chart and check it out. If you want to get really deep you can add the fair value number to these for extra special effects and place them on the futures chart. When you see the price hanging out seemly in no mans land it's a good chance it's sitting on one of these numbers.

Many days the lines will be the exact line in the sand. Therein lies the problem however. You may find yourself counting on that fact and sometimes it don't quite reach the line, or, it overshoots it a bit....Something nice to keep in your tackle box ;-)
 
Want to throw this out again in case anybody has learned anything new. When I start my PRV (am using the original one) I get an error because the G1 cell on the data page is blank. For some reason it does not save when I close the application. Not too big a deal but its irritating to have to go in and redo this every morning.
 
Quote from easyrider:

Want to throw this out again in case anybody has learned anything new. When I start my PRV (am using the original one) I get an error because the G1 cell on the data page is blank. For some reason it does not save when I close the application. Not too big a deal but its irritating to have to go in and redo this every morning.
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Are you saving the application before you close it?
 
Quote from makosgu:

Are you saving the application before you close it?
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No. When I close it it asks me to save changes and I click yes. I will try saving before I close and see what happens.
 
Quote from easyrider:

Thought my PRV stopped working there for awhile. Five consecutive VDU bars. Crimeny. Hope this is not a harbinger of things to come.
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...a harbringer of even more VDU bars :)
 
This thread is a lot like the market. It will run hard for awhile then it has to rest. Mike gets restless when he has no one to harass for more than a day or two. I made a whopping .50 point yesterday after waiting all day for the move.:(
 
Pretty nice couple of days. I dont know about others but it seems to me that it is twice as easy to make money on down days. Gravity is your friend. You should not take the trolls seriously, seriously. You should treat them like your losers.
 
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