So we are in advance, which statistically happens once in a decade and there are some lines in the current area, but who said, we can't go for something even bigger than that this time around?



Somewhere in the coming week I'll disappear for more than 2 weeks for my first holidays this year, so you'll have a chance to rest from me for some time

Interesting. I don't know or not if this falls into the category roofer mentioned that, in time, the reason for joed's blog will become known, but perhaps we now have the reason? Or, maybe not, so please nobody jump down my throat, all I am doing is pointing it out.

http://traderjoed.blogspot.com/p/trading-coursementoring.html

Anyway, it looks like if there is interest (I suspect the interest will be huge, as I know at least one person who said he would pay big bucks and travel from overseas to work with him if he ever made it available), joed may be doing some one-on-one mentoring and/or group mentoring. That's something I never thought I'd live to see. Very amazing.

Transports set a new all-time high today, as expected. That's an all-time new high.

Futures up, in a nice succession of higher highs and higher lows. Let's see if it lasts. What's that, seven up days in a row now?

jim-i do not know what joed is thinking....i have always said i do not begrudge anyone making money showing what they do...at different stages of our lives we want different things....

Jim since I'm pretty new to the forum and need to catch up with the rest I have been reading through much of the trading discussions and I found something you wrote years back and I wanted to know if the few paragraphs below still basically describes your trade management style.

"If I call my potential trade areas correctly and wait for confirmation, I almost always get a 'pop' out of the gate. If I scale out of part of my trade on that first thrust, I can move my stop up at that time, or shortly after that. I'm now in a no lose situation, with 'no lose' defined as breakeven, very small loss, or very small winner, barring a market shock event at that instant".

This is where I want to be. I'm in, and my 'theoretical' risk is essentially gone. Check, fold, check… Then some percentage of these trades will take off and I'm in. That's where all the money comes from, in my 'Trading Plan'. In 'the old days' I had big targets, the targets that I laid out based on if the trade 'worked'. I then held firm to my stop, and got stopped out at a reasonable sized loss.
The problem was, I got stopped out a lot. I hit the big ones because I was in, but the 'small' losses just added up to more than the winners. I had a favorable reward/risk, but the winning percentage just wasn't enough to be net positive. I never was able to get the winning percentage high enough to overcome all the stop outs. I used to focus all my time on improving that winning percentage

Then I started to develop what is now the Kane Trading methodology. Now I have few losses to make up. I have a lot of breakevens, a lot of tiny losses (by comparison to a full stop out loss), and a lot of small winners. Then I have a few trades (on a percentage basis) that I really catch. It's not glamorous, but it's the only style that I've really found that I can work with.

fib21, I'll be happy to answer that, but first can you tell me where that is quoted from? I don't have quite the same viewpoint now, although it is very similar, and I want to get a handle on where I was at, at that time, for perspective, before I answer.

Jim it was posted on the forum a few years back taken from www.kanetrading.com free commentary from Feb 5th 2004.

spy opened with a gap....first pull back to the .486 measured from center of the gap.....then into a 1.46 of pullback and .886 of the whole move down.....

I do have to say, as much as I like other work by this author, many commenters called into question if his research was accurate. Perhaps it is not. Nonetheless, that was one heck of a government manipulated ramp, I'll say that.