Two traders whose totally different systems produced identical entries and exits would argue nonetheless about whose system is better.
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Questions to Jack Hershey
- Thread starter BenzMercedesSL
- Start date
Quote from ammo:
seems his threads are a back door into et for all the nutjobs,some guys that dont know bid/ask pile on for the chance to post,there is even one guy in here with an attic full of jack memorabilia,posts his doll,news clippings,national enquirer articles,jack were you in a rock band at one time,maybe they are your old groupies
And there are a few of us who watch the markets closely (in my case, second by second), and wonder where all the Hershey trades are at the times hindsight indicates they should have been made. If they ARE trading, they aren't trading large.
What do you guys think about days where there's an uptrend in the morning VS days that starts with a downtrend?
It seems to me that when the market drops in the morning it follows a pattern that is easier to trade. It drops until it reverses somewhere between 11 and 12 and then there are often a substantial move in the opposite direction.
Days that starts with an uptrend on the other hand doesn't seem to reverse and move substantially in the opposite direction in the afternoon nearly as often. There's more often drifts, random moves and stuff like that for the rest of the day.
Thinking about this for a month everything I see seems to confirm it, and I've studied old charts too. But maybe it doesn't hold true over time?
Basically my question is - if you wanna trade the channels in a simple way as a beginner, over time, isn't going long after a morning downtrend much more profitable than going short after a morning uptrend?
It seems to me that when the market drops in the morning it follows a pattern that is easier to trade. It drops until it reverses somewhere between 11 and 12 and then there are often a substantial move in the opposite direction.
Days that starts with an uptrend on the other hand doesn't seem to reverse and move substantially in the opposite direction in the afternoon nearly as often. There's more often drifts, random moves and stuff like that for the rest of the day.
Thinking about this for a month everything I see seems to confirm it, and I've studied old charts too. But maybe it doesn't hold true over time?
Basically my question is - if you wanna trade the channels in a simple way as a beginner, over time, isn't going long after a morning downtrend much more profitable than going short after a morning uptrend?
Quote from baro-san:
I'm surprised how many "traders" have enough time to post and argue during RTH.
My excuse is that I am so well automated that I can turn off my screen and tell what is happening from audible status alerts. If I miss an entry or exit by the few seconds it takes me to get re-oriented from ET to realET it might even improve my expectation. Price is either doing nothing or doing something, and all you really need to know is when price shifts from one state to the other. And that doesn't happen all that many times a day. Otherise I wouldn't have time to surf porn, rag on Jack, nap, take a snort, email friends, etc. Trading is an excellent occupation for a dissolute person.
Quote from pepdegree:
I want to automate my trades,too!Please,Albert disclose your strategy immediately!
I only automate the trade entries and exits. Automating the actual trades would take all the fun out of it. KInd of like screwing. It's OK if fate decides the opportunity, but you want to do the actual work yourself.