step away from the "chop!"...

[mike s]

Quote from jack hershey:




I am slaloming from this point on with the BO above the 10:00 5min bar. Slaloming is playing the whiplash that is hitting those opposite me on trades.

I'm curious Jack, if you don't mind. On a day such as this, trading off the 5 minute chart, how many round-turns will you do on average?

Thanks,
Mike

 

[FRuiTY PeBBLe]

Quote from PushHands:

what is BO?

Breakout, I believe.

F. P.

 

[wally_]

Is it really the only thing you guys did not get? So I gather that you obviously know what the third harmonic is and how Jack measures it. So please explain it to me.

TIA,
Wally

 

[jack hershey]

Quote from PushHands:

what is BO?

And thanks for the great posts jack hershey. Always appreciate a good read. Is there a possibility that someone post up a chart to compliment this thread?

Sorry BO means Breakout.

I'll try to use ( ) more often for first mention.

 

[Brandonf]

Quote from ZBEAR:

Today I just sat it out.....
Just a "Feeling" ....... can't quantify it.....

Which brings up a question for ET'ers.....

When & How, do "YOU" determine the day will be a chop ?

One way is to look at overall range and volatility. It is mean reverting. So, when you go through a period when everything is moving like crazy (last few days) you are likely to go into a slower and choppier period. After a choppy period, when everyone has gone nuts and is ready to give up, then you are likely to see big trend moves. As for indicators, you can look at things like ATR and ADX.

Brandon

 

[wally_]

Quote from Brandonf:



One way is to look at overall range and volatility. It is mean reverting. So, when you go through a period when everything is moving like crazy (last few days) you are likely to go into a slower and choppier period. After a choppy period, when everyone has gone nuts and is ready to give up, then you are likely to see big trend moves. As for indicators, you can look at things like ATR and ADX.

Brandon

Excuse me, but who are you to claim that what Jack needed 2 pages for can in fact be explained in a few sentences like these!!!??? You should be ashamed of yourself for even suggesting that it can be done!! Just as I feel ashamed that I 'explained' the same thing in one sentence a few pages back. Incidentally, I said the same thing as you...

And where are your harmonics? Are you serious? This stuff cannot be explained without invoking at least three harmonics...

Sorry, but I am putting you on ignore. I am putting myself on ignore too.

 

[chasinfla]

Quote from ZBEAR:

Today I just sat it out.....
Just a "Feeling" ....... can't quantify it.....

Which brings up a question for ET'ers.....

When & How, do "YOU" determine the day will be a chop ?

i get real skeptical after a losing trade.

 

[spreadem]

I sit out after the first 3 trades are all losers. Put a fork in me ... I'm done.

 

[peg_leg_joe]

Quote from wally_:



Excuse me, but who are you to claim that what Jack needed 2 pages for can in fact be explained in a few sentences like these!!!??? You should be ashamed of yourself for even suggesting that it can be done!! Just as I feel ashamed that I 'explained' the same thing in one sentence a few pages back. Incidentally, I said the same thing as you...

And where are your harmonics? Are you serious? This stuff cannot be explained without invoking at least three harmonics...

Sorry, but I am putting you on ignore. I am putting myself on ignore too.

Man, you guys are cracking me up. BTW, I'm putting myself on ignore, too.

PEG LEG JOE

 

[Lobster]

Quote from KavMan:

Damn!
Today was an easy day to scalp like crazy
up, down, up, down, up, down
Was just too chicken shit to do it!!

That's the thing. I was in the same situation.