To be frankly, I get headache whenever looking k charts with all kind indictors, therefore I can't real understand your chart at all.
I have been trading futures maket since 1975, at that time there were not FX trading at all, only grain and precious metals.
"paitent is virtue" never works for me, I almost never stay in the market over night after took a big beating in gold market. And since then I have been working on price fractal to find most efficient way to scalp.
I myself is not using J-Chart's long term forecast method to trade, to me it is real for academic study and verification purpose through time. Small price fractal in big volume market provides good enough profit in day trade.
Attached is what has been GOING ON if it reaches the target it will provide 4G/lot profit
By the way since you understand the concept indeed you sure can looking at the K chart and draw the fractal triangle without any indictors as good as one of my student does in China who day trade soy beans and gets profit almost every day, although his commission usually is 1/3 of his gain
As the result, he quited his univerity math professor job and become full time day trader
Last edited by John Chen; May 15th, 2015 at 12:16 AM.
The following user says Thank You to John Chen for this post:
chen i understand you are proud of your method however your book is not that straight forward and i dont have "next to me" in order to get "assistance" as your students from what i understand (dont take it offensive)
i am sure you know and understand most of us the "simple people" have access to mt4s ... is it possible to provide us assistance in order to be able to implement your method?
also i though jcharts is not an intraday... you changed your "logic"?
spartan i guess you are using mt4 with DMAs ( which are they? one is 100 for sure)
how can you "forecast" whether the PA is going high or low?
from what i understand you know how jcharts "work" and have modified it to work using a mt4 terminal...correct?
The following user says Thank You to Kerdizo for this post:
Hello K...good to see you posting in the forum. I dont want to be accused of "Highjacking " this thread....only trying to share an alternative way to achieve similar results to JCharts since no one other than John can have access to them.
As you know I am not an academic or a guru like John... lol. There is no "Silver Bullet" to kill the beast, but if there were it would be JCharts. As good as they are...it is still subject to interpretation (the shooter/marksman) and so is my system of drawing the chart.
The indicators and tools I use are basic to the MT4 terminal..
Candles...I prefer candles over bars.
10 DSMA is used to establish balance points.
100 DSMA I use it for measured moves and determining the direction of the PA on the 5 min chart (retracement for market entry point)
Fibo Retracement tool for establishing the Equilibriums full range. Settings are 0, 50, 100, 1,61, 200.
I use the period separators on all time frames W1(Looooong Term forecasts) 1 to 6 years, D1 for 1 to 3 months, 4h for 1 to 3 weeks, 1h for 2 to 5 days and the 5 min for 4 to 8 hours. I use cycle lines on the 5 min charts in 1 hour increments and forecast EQs over 4 hour periods.....and I hate typing.
This is all done manually and takes very little time...unlike the JCharts which does all the work for John. I do NOT have the advantage of the variable time frames or the Jeng price fractals but have learned to compensate through studying the details of the markets idiocraZy.... such as this chart shows...
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The following 2 users say Thank You to SpartanLTD for this post: