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The Electronic Local method


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The Electronic Local method

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  #81 (permalink)
SE-Asia
 
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Tradetronics View Post
I have been following EL for some time... If you follow his posts and the charts where he shows his entries, you will immediately notice that there are hardly losses... His entries seem to me a little bit too perfect...

Just my two cents...

Regards,
TT


Hehe, no he is one of the few people than can buy at HH and sell at LL every single time. :-)

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  #82 (permalink)
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Bankrobber View Post
A little like EL Blog then - very elusive answers once again

Thanks for nothing

nothing elusive about this Forums - balance

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  #83 (permalink)
virginia
 
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Bankrobber View Post
A little like EL Blog then - very elusive answers once again

Thanks for nothing

let see if this is also elusive, brokerage statements and performance, trade executions in excel
Forums - balance

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  #84 (permalink)
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cory View Post
let see if this is also elusive, brokerage statements and performance, trade executions in excel
Forums - balance

Now I'm jealous! Teach us all and post the setups also!

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  #85 (permalink)
virginia
 
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Braulio View Post
Now I'm jealous! Teach us all and post the setups also!

like I said million times before all questions had been answers and available for viewing 24/7 do you think thousand of pages with more than a million viewers didn't go into enough detail for you?

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  #86 (permalink)
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cory View Post
like I said million times before all questions had been answers and available for viewing 24/7 do you think thousand of pages with more than a million viewers didn't go into enough detail for you?

Braulio, I believe Cory is referring to the Jack Hershey method which can be found on several long threads on EliteTrader. Its a rather complex method which is hard to explain and many of the posters trying to explain it do so in a rather cryptic and difficult-to-understand manner, especially the originator Jack Hershey. Some people seem to find great value in the method, but most traders that study the ET threads come away more confused than before.

From what I was able to gather the method includes a way to predict when moves were ending based on fractal volume patterns.

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  #87 (permalink)
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But nowhere in EL's blog will you find any reference to the Jack Hershey method.

So I assume that:
1. It's something Cory knows/teaches along with El's method
2. I don't think that's what Cory's referring to but maybe he can answer that for both of us.
3. This is not Elite Trader. So if that's what Cory's referring to he should have said so, it would have helped a lot more.

Have you traded EL or the Jack Hershey method?


GoldStandard View Post
Braulio, I believe Cory is referring to the Jack Hershey method which can be found on several long threads on EliteTrader. Its a rather complex method which is hard to explain and many of the posters trying to explain it do so in a rather cryptic and difficult-to-understand manner, especially the originator Jack Hershey. Some people seem to find great value in the method, but most traders that study the ET threads come away more confused than before.

From what I was able to gather the method includes a way to predict when moves were ending based on fractal volume patterns.


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  #88 (permalink)
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I have been reading electric local blog for a while but have not seen any reviews on his trading course. Is there a review somewhere.



Thanks

Steve

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  #89 (permalink)
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I read some of those posts on Elite Trader and felt that getting at the meat of the method, enough to know if you wanted to commit the time, was more than I wanted to spend. It looked like an honest effort to impart some information... There were also diligent posters who were assisting I believe, as well as those whose "noise" became distracting. That's Elite Trader, it often has too many "interested party" postings and "tantrums," and, of course, good threads. A lot of the ratings and advice I would take with a grain of salt as man, whether they have 5 months experience or 5 years has an opinion.

I had a friend in NYC who was a broker for EF Hutton in the 70's and bought some options based on his knowledge and became somewhat interested. I received a brochure from Ken Roberts in the late 80's and he is articulate and convincing. It wasn't necessarily that expensive and I learned quite a lot (updating charts by hand). His material was ust standard technical analysis regurgitated in a simplistic format. I overpaid for commissions and blew my account out eventually.There were a few good trades and I was lucky not to get stuck on the wrong side of "limit" market.

I have been investing and trading more or less ever since then. I would suggest to Cory that he has everything he needs to trade technically. I see him all over Mike's Forum and he contributes like crazy. Entries and exits don't need to be precise in that they must be exactly on the mark, the 'X' so to speak. Make it easier on yourself by finding the best 'areas' to enter, set a SL and target(s).

Rather than trying to pry out something that isn't here I would that anyone who is having a hard time "figuring out a trading system/method" take Mike up on his offer for help with your trading. EL's method is not fully revealed. You can subscribe to MarketDelta or Linn, visit Charthub.com and import the "descriptions" (scripts) for many of his charts, which I think might reveal something more. When searching you will find that some are his, some are done by others, many don't include "descriptions," and some are from his first lessons but require a little searching. It seems to me that his entries are always late, that is at the end of bar. Why not use the MP levels, wait for PB and then second test on very short term time frame? You will see that EL uses longer term MP charts. Rejections of certain price levels are generally higher percentage trades, but trades that break out of rotation and become initiative can often yield more profit. Also look for 3-5 day balances as described by Don Jones (see Cisco-Futures.com among others). He is dismissed out of hand by traders interested in MP, but he can give you a thorough understanding of the market, and you can call and speak with him at length on occasion. The co-author, Jones, on Dalton's book is Don's son, btw. Everyone who trades with MP, and there are some big traders, including at least one "Wizard" who use it, owe Don Jones something as he was also among the first. I don't follow his 'method' you either discover one with his help or find someone else who does. (obviously I took a course with Don, the "short course", but other than that I doubt he remembers my name).

I read a post by someone who said she lost $40k in Woodies CCI room, not $4k, sheit, most people lose some money but it's hard to have sympathy some times. I'd already been booted from his room for asking a question--Woodies (free) room wouldn't let me into the "Vegas" trade room. That's all. I'd also seen the "moderator's" hiding their entry windows under their charts (they were losing money, btw), but carrying on like they were pros. Woody is a frigging industry now. Look at all the famous people who he's had his picture taken with!

Sorry to go on, but I like to add my 2 cents on occasion.

I know nothing, nothing-Sgt. Schultz

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  #90 (permalink)
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If you're looking for a simple NT7 MOMDOT indicator, without programing you can create the desired output using NT7's SMA given the eqaution for MOMDOT is in fact based on the "TYPICAL" calculation.

I obtained the following from a previous post in this thread

MomDots - (HI.2+LO.2+CL.2)/3 + (HI.4+LO.4+CL.4)/3 + (HI.3+LO.3+CL.3)/3)/3;

This is the SMA(3) of the TYPICAL values of the bars...
(Note NT's nomenclature for bars would be 0-current, 1-1st back, and 2-2nd back)

By default the NT7's SMA math is based on bar "CLOSE"

You change this to any of the following:

OPEN
MEDIAN
TYPICAL
WEIGHTED
HIGH
LOW

You do this from the indicator dialog and then select on the Input Series input field. Use the help feature to obtain the math for MEDIAN, TYPICAL and WEIGHTED.

You can apply the offset using the displacement field in the indicator dialog by changing it from 0 to 1, notice what happens to the placement of the current bars SMA value when you do this.


Getting a single dot on the bar and altering the color of the dot would require programming... but you can get the desired information using this approach.

It is also interesting to apply this approach to your other favorite indicators...

Hope this helps someone in future

enjoy

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