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For July 8 it was 26105. However, the open price for actual trading at 9:15 is 26110.
Keep in mind the night session has an open as well at 17:15.
A "trading day" in the HSI (and Nikkei) is a night session + the following day session. So, "Monday" actually includes trading from the Friday evening session, which goes into Saturday morning, plus the day session for Monday.
My brain struggled to read the chart as in hindsight some really obvious set-ups marked by the blue-dots....lots of trends within trends that made it more difficult....I really need to get a 30inch monitor to capture the days price action for perspective.
Could have been done in under 30 minutes if i had bigger balls. My losing trade was because the entry was not at a key-entry-point - I keep learning the same things over and over..doh! Will try harder next time.
If you go with SC you have access to plenty of free historical data (tick level) for an extensive list of exchanges (although not OSE), but you may need to sign up directly with SC rather than through AMP I think. Do this for the period you're testing / learning until you're ready to go live and transition to AMP if need be. Link to exchanges offerred by SC: https://www.sierrachart.com/index.php?page=doc/SierraChartRealTimeFuturesStockDataFeed.php
I was trading yesterday when I felt something "strange" in my mouth.....a chunk of my tooth fell off - WTF!!
So a quick trip to the dentist this morning means I will need a root canal + crown (4 visits) ....man I must be getting old or something...this sux.....so raced back to the PC and placed a few trades to pay for it...whew.
I've been getting a lot of direct emails lately asking about PATS and what I think of Mack and his methods....although posters believe they are doing me a favour not asking through the thread to save me time, I'm repeating the same things over and over so I thought it might make sense to just post one of the more recent answers I've given....fyi I'm not sponsored by PATS-Mack directly or indirectly, I've never spoken to Mack. BUT - I just watch his daily YT vid and "LISTEN" to what he says.
Background info:
The original poster had copied out a quote from another poster on the forum criticising Mack's methods that only 1 in a hundred students are profitable with his method and that he thought PATS was a scam....but on the better side versus true scum vendors charging $thousands for nothing. Macks daily vids are FREE..
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Hi XXX,
What can I say....you need to try it yourself and spend some time understanding how it works...I honestly think Mack is the real deal and is not a scam or charlaton or quack etc at all....you only need to follow his YT daily vids to understand him as a person and his system.....it was built for the ES yet I trade the HSI on it...it works better on the ES....but as price action is universal it should work on all markets.....I've taken over 2000 trades using the system over 2 years...75%??+ win rate that is still improving as I get better at reading the chart set-ups.
It works for me....and I try to trade exactly the same patterns as Mack does (but for the Hang Seng)....Mack does not run a school but a forum for members (I am NOT a member yet purchased the trade manual only) and he always tells everyone it will take YEARS to get really good at this as he compares it to being a Dentist or Doctor with years of study....it took him over 10 years + to get to his level,
Out of a 100 people off the street how many become Dentists or Doctors - same 1-2%....Mack does not hide this fact...he mentions this ALL the time.
The poster above has a loser "mindset"....needs to man-up and admit he does not have the mental discipline or patience to trade the system....90%+ of the population think like this and criticise others for there own faults....hence 90%+ are on a part or full pension (if using money as an indicator of success) when they retire with not enough money...open your mind and set some goals and go for it. Be a "winner". If it was easy "everyone" would be successful day-trading right?
The choice is yours?
How hungry/eager/motivated are you to be successful at Day-trading?
Have you ever been successful at sport (lots of practice) or at music (lots of practice) or something that requires daily practice and dedication to learn a skill?
This is the same....but with $$$ as the reward not a cheap trophy and a special-skill you can apply for life.
Hey I'm pretty sure that direct message you got was referring to a quote from me. And you are the 1 in 100. I was part of the 99. I still stand by everything I said, and would even wager on it, if only there was a way. Maybe we can take a poll of all the market wizards on this forum, that are consistently profitable through the years, how many are using Mack's PAT?
It's not 1 out of 100 people on the street become dentists, it's more like of the people that have been learning from this specific dental school, only 1 out of 100 become dentists. But the dental school has free videos! Now you're investing your own money on opening up your own dental practice, but you're completely unprepared for what it actually entails and lose your startup capital.
I have manned up and admitted I was a loser. I did not have the patience or discipline. But what newbie does? That was the whole point of my reasoning for why it's a bad idea for newbies and is actually one of the most difficult methods to master.
I also wrote all that before stumbling onto your journal. There are many differences between you and the typical newbie. You said it yourself in an earlier post. Is it possible to skip all of your experience pre-mack and go straight to where you are now? Idk, maybe. I guess anything is possible, and as long as hope is alive, we will pursue.
Lastly, I use the word scam liberally. Even free content can be a scam in the sense that it's not a good use of time. I was referring to the manual on 2nd entries with the trend. Either in the PDF or in some videos he says that this method has a high win rate and implies it is easy to do. I think that is the scam part. In practice, a high win rate strat is one of the hardest things a newbie can do.
Just wanted to also add that I'm very impressed with your journal. I don't mean to come off so confrontational. I saw myself in other people's struggling posts, and felt compelled to share my thoughts. With my own journal, I always hoped someone would look at my trades and tell me from their experience why it worked or didn't work for them, but I know now that's not going to happen. Likewise it is not my role to play in other's journals. I see now why the OGs typically don't get involved in these sorts of discussions.
Perhaps it was just being starved from lack of social interaction since pre covid. To all prospective and current students of Mack, I'm sorry. I did not have what it took, but it doesn't mean you won't.
I'm pretty sure if I'm the 1/100 you can be the 2/100 if you want it badly enough.....Mack has posted/read many other students trade stats (some with broker details) that are way better than mine and even appear to be better than Macks numbers (85% wins). Hence it could be 5-10/100 can do it....granted its not easy for everyone from reading the responses.
Second entries are just one of the set-ups but noted they "might" have better odds than the other set-ups -
The real benefit of PATS is learning the ability to read price action around support/resistance area's.
If an old dog like me can learn PATS (with all the mental baggage from a documented history of trading failures)...I'm fairly sure you can do it too!
Well my tooth ache has gone completely (after months of a slight ache) after root canal stage 1 though i'm a little hesitant as to what the dental appointments 2-4 are going to be like?
This stock market rally is starting to worry me a bit as my (SMSF) Retirement account is up 7.3% this MONTH alone...maybe I should just enjoy the ride but we all know this level of market strength is unsustainable and always leads to big corrections just around the corner....I suppose I shouldn't care as I'm just being a "turtle" and trading an algo stock model.
Anyway had a good day trading though 1 losing trade. Need to study more and learn "why" it failed.
You want to see a really DUMB trade....example trade #1 - stupid as they get. What an idiot!
Don't buy the High of the Day but many times in the HSI it "pops" near these levels most times....but not today.
(6/9) + 30tics - I'll take what I can get....mentally tired today....Friday?
Anyway - its Curry day!
