The Stochastic Indicator
- Thread starter jack hershey
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Walter,
While i appreciate you trying to help, i think you are off base with your suggestions. Jack stresses plateau after plateau of sucesses. IF you have just started out, begninner rockets should be the only trade you learn FIRST. I assume this is the level you are at since you dont quite understand the intermediate level yet.
If you want to learn Jack's intermediate/expert level(still jacks method, just not begninner), then slaloming requires that you know what pace the market is at. This can be deduced from C&R. Jack has been stressing this lately and i think that this is next required conciouss realization for begininners to reach the intermediate/expert level.
I am sure you will 'get it" as soon as you find yourself reading jacks posts over and over and over again from the first post too post 160 until you cant undertand anything new.
IT has taken me a minimum of 20 times to read Jack's posts until i had a very good understanding of what he was trying to convey.
Just to give you an idea. I am neither a genius or idiot. I graduated from the University of Pennsylvania(by the way, i hate that mr mrket went to the same school) with a dual degree. Their is just a lot of info in each post.
Good luck.
jc
Just to make it clear, I was not responding to your post.
About 4-5 years ago Jack was kind enough to explain this method on old mif forum . So i am familiar with this method for a few years now.
I believe that trying to time market instead of observing it will not serve well to students of this method, so it is better to stay away from any timing attempts. That's what I meant.
Walter
On JC's chart on the previous page there appears to be a stall formation at 10:39 to 10:49. Does anyone know if this is the correct orientation for a stall in a trend? Is this the correct time frame to see a stall or hitch? A new point 2 formed at 10:59 but the stall apppears before point 1, Is this correct? any comments please.
By the way thanks to everyone who posts here, your posts and charts help immensely
By the way thanks to everyone who posts here, your posts and charts help immensely
What you are observing is the end of the trend. Typically what happens after a rocket is CCC. which is what you are observing here. the things that you would look at to see this are 1 the trend channels breaking, and 2 the stocs leaving the range. I closed out my position about 10:42.
a fast pace rocket will sometimes rezoom into the same trend but usualy go into CCC and rarely reverse.
Atleast this is how i saw it.
(it is worth noting i had a little trouble with my data feed and in the mornign my charts looked a little different then the ones posted, i knew this and i was looking a little harder to close out)
I only post the 1 minute because thats where i look to watch when i make executions. I base my trades off the 5 min. Find yourslef becoming more content using the 5 instead of the 1 min. I think the 5 gives a more optimal view of the market than the 1 min(not to mention jack sais to use the 5).
Their are 3 trends that are possible; up trend, down trend, and lateral trend. Yestarday, following the up trend rocket, we were shifting into a lateral trend for the rest of the day with a few centerings in between. The begninning of the lateral trend(CCC) out of an uptrend (rocket) usually begins with the failure to traverse in the rocket.
CCC or lateral trend is when intermediates start slaloming. This is where i am at; learining to slalom. Hope everyone has a good day trading today.
jc
look at nwbprop at top of past page.
Today was a very very tough day for taking rockets. We seem to be in a rangy day(slaloming) today.
From open until about 9:50 we were in a 5 min top too trough interval. At 9:50, it looked like some funk shit(change) was happening. I felt that this change would be a great time to short. I therefore shorted at 9:53. At this point i was kind of lost. the short had gone my way but i was not sure where to cover. We had reached the low of the day at 10:00, so i decided that maybe i should cover and get long(i was wrong). Since i was wrong i wanted to see what the optimal points to cover and get long would be. After reviewing, I found that the VOLUME SPIKES would have been the optimal point at which i should have covered and reversed. It seems like the volume has to be at least twice the normal volume and at least 2 bars with that amount of volume. You can also see that it would have been a great sell on the up side at 10:36-38. I circled them in the post so that you can see. Anwyay, tough day for me as i am flat for the day in the spys. I have not checked this with past graphs, so i may be wrong.
jsut some thoughts on hte morning....
jc
From open until about 9:50 we were in a 5 min top too trough interval. At 9:50, it looked like some funk shit(change) was happening. I felt that this change would be a great time to short. I therefore shorted at 9:53. At this point i was kind of lost. the short had gone my way but i was not sure where to cover. We had reached the low of the day at 10:00, so i decided that maybe i should cover and get long(i was wrong). Since i was wrong i wanted to see what the optimal points to cover and get long would be. After reviewing, I found that the VOLUME SPIKES would have been the optimal point at which i should have covered and reversed. It seems like the volume has to be at least twice the normal volume and at least 2 bars with that amount of volume. You can also see that it would have been a great sell on the up side at 10:36-38. I circled them in the post so that you can see. Anwyay, tough day for me as i am flat for the day in the spys. I have not checked this with past graphs, so i may be wrong.
jsut some thoughts on hte morning....
jc
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