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The Stochastic Indicator
- Thread starter jack hershey
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Quote from baggerlord:
I still don't understand how you get out of bad trades without losing money. You don't know it is a bad trade until it goes against you. Hershites must have ESP or something like that. Heck, they have transcended the English language, so why not?
You also have to bear in mind that(according to Jack) it is normal for 4 out of 5 or 80% of people to think you are a loon, so the results of that poll, 3/4 or 75% are actually quite positive.
Cognitive partitioning would explain those results.
Something that helped me tremendously was to isolate Jack's posts, and print them out.
The P, V relationship will be there.
That was a sticking point for me too.
Quote from electron:
Some apparently have learned something from it or at least so they claim. I am finding rather hard to follow Jack's teachings so perhaps Jack's disciples would be kind enough to expound on Jack's teachings for the rest of the ET community and myself in particular. That might even be a good proof that what Jack teaches makes sense and can be understood. As you may find out from the latest poll in the chit-chat there are some doubts about it. I have no particular opinion one way or another, however a friend of mine who is very good trader (and a frequent poster to this board with over 1000 posts to his account currently taking a break from trading in another part of the world) says that if you cannot say something in a way everyone understands then you most likely do not understand it yourself.
You know electron, it's like you've just walked up to a group of people who are having a really involved conversation and you have just said something truly, truly lame, not to mention insulting to them. And now they're just looking at you like you're a class idiot. Trust me - they don't see in you the bright spark you apparently think you are. Back to chit chat with you.
Quote from chaos:
You know electron, it's like you've just walked up to a group of people who are having a really involved conversation and you have just said something truly, truly lame, not to mention insulting to them. And now they're just looking at you like you're a class idiot. Trust me - they don't see in you the bright spark you apparently think you are. Back to chit chat with you.
Wow, what a class act on your part, my friend. I was just hoping that someone would explain what the deluded rantings of your guru were about and now I see that no-one can, which simply means that this is all crap just as a friend of mine was implying (well, I wanted to be more polite and gave you people some credit). Being an idiot in this company makes a perfect sense and I would feel really bad if I were not labelled one.
BTW, when was it last time that someone told you that you are an arrogant prick? I guess, it does not take a Ph.D., which I happen to hold (in applied math, BTW, although I don't expect you to know what math is about), to notice that. Now, go back to your grouppie hole, asshole. Keep sucking the big swinging dick of your fake guru because you are obviously way too stupid to pick someone more intelligent to guide you in this 'chaos'.
Thursday Preflight (as if done before open.)
thursday Pre flight.
Pre open flight check
Before open look at the picture. NC means no change
a. do 5 min chart viewing. Our range is 1005 to 985. We carry channel ahead (short). Labor and manufacturing coming up today.
b. Volume is scalloped and working for thurs.
c. last four opens are all different. BUT ONLY two GAPs. A retrace ended day calmly.
d. The rockets, if any are short ones
As long as entwine holds you stay in rocket on this lower volume situation. Entwine prevails over other stuff; let it dipinto 20/80 band. Watch to see that rockets can follow opposite rockets in this medium H/L market.
e. Icebergs stink. There is no hustle anywhere to allow me to stay in icebrgs.
for this market we start summer ice bergs. when you exit an iceberg do it as a REVERSAL. that way you can continually iceberg from now on.
rocket comments will set up an iceberg as well.
f. 11:00 for last few days means midday shut down. NC
This is always going to be the same.
g. 13:00. I can make a buck everyday on a BO around 13:00 plus. Bracket time for sure every day. NC
H Slaloms. Experts only:[/colo] Count on slaloming. Slalom out of sync on brackets. Be prepared to slalom on the pm BO's (See g.)
NC
i EOD let broker take me out as usual. NC
NC means no change.
Keep stop logs rolling. you will be seeing more periods of NC on the values. deep summer is in effect.
thursday Pre flight.
Pre open flight check
Before open look at the picture. NC means no change
a. do 5 min chart viewing. Our range is 1005 to 985. We carry channel ahead (short). Labor and manufacturing coming up today.
b. Volume is scalloped and working for thurs.
c. last four opens are all different. BUT ONLY two GAPs. A retrace ended day calmly.
d. The rockets, if any are short ones
As long as entwine holds you stay in rocket on this lower volume situation. Entwine prevails over other stuff; let it dipinto 20/80 band. Watch to see that rockets can follow opposite rockets in this medium H/L market.
e. Icebergs stink. There is no hustle anywhere to allow me to stay in icebrgs.
for this market we start summer ice bergs. when you exit an iceberg do it as a REVERSAL. that way you can continually iceberg from now on.
rocket comments will set up an iceberg as well.
f. 11:00 for last few days means midday shut down. NC
This is always going to be the same.
g. 13:00. I can make a buck everyday on a BO around 13:00 plus. Bracket time for sure every day. NC
H Slaloms. Experts only:[/colo] Count on slaloming. Slalom out of sync on brackets. Be prepared to slalom on the pm BO's (See g.)
NC
i EOD let broker take me out as usual. NC
NC means no change.
Keep stop logs rolling. you will be seeing more periods of NC on the values. deep summer is in effect.
Quote from baggerlord:
I still don't understand how you get out of bad trades without losing money. You don't know it is a bad trade until it goes against you. Hershites must have ESP or something like that. Heck, they have transcended the English language, so why not?
You also have to bear in mind that(according to Jack) it is normal for 4 out of 5 or 80% of people to think you are a loon, so the results of that poll, 3/4 or 75% are actually quite positive.
i take losses all the time and posted them in my journal...in general when i have a loss it means i should also be reversing...so while you have a loss, the reverse puts you on the right side of the mkt...that's what was being decsribed by jack yesterday during that high volatility period after the eco number...you had your stop/reversals spots that got you back on the right side of the mkt.
as always just my opinion.
Quote from StockSniper:
I've been trying some wash trades during some of the slower moments in these deep summer days.
It's somewhat akin to swinging out on a long vine over a swimming hole; if you let go (exit the trade) too soon, you're going to get all wet. But if you just hang on, eventually the vine/trade will take you back to where you started.
I want to get really good at swinging on vines...
This is absolutely on the mark. Print and frame.
Quote from colina:
Jack,
I was following your stop log today, am having a hard time. It is easy for me to make mistakes interpreting. You cover alot of ground in only a few sentences.
- Sync occurred approximately 9:45 where price centered at 992.1 and using +/- 3.2 offset for brackets. Fractional notation used is in units of ticks, or in the case of ES, .25 multiples. Hence, .1 = .25, .2 = .50, .3 = .75 etc. So, center 992.1(992.25) +/- 3.2(3.50) pts creating a bracket pair 995.3(995.75) and 988.3(988.75) respectively. Is this correct ?
yes.
- The +/- offset 3.2(3.50) times 2, or 7 point bracket spread came from yesterdays' trading range. Specifically, 7/30 11:05 high 991.00 minus 7/30 11:30 low 884.00 as shown on your pic. This is to get an estimate of what is needed to avoid entering a position before a valid break out occurs. Is this correct ?
yes
- As soon as one of the stops is hit, the remaining trailing stop is updated, C&R. In this example, a 2.3 offset is used. The offset is added/subtracted to the stop hit to cancel and replace the remaining trailing stop. It is not added/subtracted to the remaining trailing stop to calculate the new value. Is this correct ?
This is the exact process. You have to get rid of other half of bracket. If and when we get to tighter brackets, you will see the braket width is the offset plus the 1/2 bar. To get there you are an expert and slaloming. We will always use skill to replace risk when it is proven possible by profit record.
In this example, if we go in long at 995.3(995.75) the new trailing stop is updated to 995.3(995.75) minus 2.3(2.75) resulting in 993, minus an additional tick to get off an even number, an antisclaper device. Okay 992.3(992.75) then. If we go in short at 988.3(988.75) the new trailing stop is updated to 988.3(988.75) plus 2.3(2.75) resulting in 991.2(991.50). Is this correct ?
yes
I can not figure out where the 2.3 offset comes from. From your pic, annotation "Four back dist. then add 1/2 bar". Referencing your pics' green lines, 4 back 11:35 1) low 984.75 2) 11:45 low 985.75 3) 12:00 low 986.50 4) 12:10 low 986.75 gives me a 2.0 spread plus "add 1/2 bar" or .2 (.50) equals 2.2(2.50) not 2.3(2.75). My math does not add up nor am I sure I am looking at the right place. Any help here would be appreciated.
You are as close as you can be without having no differences between us. I may6 have been inaccurate too. This is accurate really.
When break out occurs at 9:59 (economic numbers leaked early -haha) pace picked up fast. Hence, you state get ready to go 2 back instead of 4 if entered. So, cut 2.3 in half to 1.2. If enter long the new trailing stop would be updated to 995.3(995.75)minus 1.2(1.50) resulting in 994.1(994.25). If enter short the new trailing stop would be updated to 988.3(988.75) plus 1.2(1.50) resulting in 990.1(990.25). Is this correct ? I seem to be off by a tick from your value of 990.2 ?
Your split is different than mine too. I rounded conservatively to get mine. There was no middle value for me.
This is such a great thread, am learning alot, thanks for everyones' contributions.......
(kewl)
Short answer: You have typed and noted every step of the way correctly. For two people to be within a tick is super. Electron's buddy can post who is exactly correct.
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