Nov 18th
19:51 Elroch: Any interesting stuff to point out today, jimmer?
19:52 jimmer49: not really, I stopped after around 8:45 my time and never got back to trading - missed the big run up, but notice it was kind of a creeper most of the way, with few really obvious entry points based on what I use
19:54 jimmer49: I am in Oregon btw, if you did not know - so, pacific time
19:55 jimmer49: the chart I posted is what I use on each time frame other than the 18 tick, which I will not likely post here
19:55 jimmer49: normally watching 300/100, with occasional eye on 900 tick
19:56 jimmer49: all my charts have stuff on them to show htf indicators
19:56 @Buffy2: what is the dotted yellow and gray first study window with 2X - longer tf?
19:57 jimmer49: that is the 21, 10,4 sto on 3x time frame
19:57 @Buffy2: ok thant is what I thought tks
19:58 jimmer49: 63,30,12
19:58 jimmer49: I really like those what I call tiered slings
19:59 jimmer49: fast sto on 100 vs. slow sto on 300, as viewed from 100t chart
20:00 jimmer49: two keltners on each chart, the yellow dotted representing htf
20:01 @Buffy2: tks jimmer
20:01 olm: eveing jimmer - your work is very fine indeed
20:01 jimmer49: thanks
20:05 Elroch: How do you deal with 300T slings, Jimmer? I don't see many early 100T band touches in them
20:05 jimmer49: harder to time them right somehow I know
20:06 jimmer49: no set rule for it
20:06 jimmer49: get help from 100t usually
20:06 jimmer49: just depends on how it looks
20:06 jimmer49: long bars often a problem
20:10 Elroch: lol
20:12 Elroch: This is why I find 300T tricky - Early slings here had a tough time
20:12 jimmer49: my main setup is actually the 9/30, rather than band touch
20:12 jimmer49: often 9/30 is a sling - more often than not really
20:13 jimmer49: 9sma, 30 wma
20:13 olm: thanks
20:13 Elroch: That's interesting jimmer. I thought stochs ruled for you
20:13 Elroch: 9/30 on different time frames?
20:14 jimmer49: stochs are part of how I do anything
20:14 jimmer49: they provide the important context of the situations for me
20:17 jimmer49: 30 wma rising, price bar closes below the 9sma = long setup
20:18 jimmer49: oversimplified of course
20:18 Elroch: Interesting, jimmer. That's a rather different use than the well-known 9/30 setup
20:19 jimmer49: as far as I know that IS the 9/30 setup - which I got from Mike Bruns
20:20 jimmer49: and it has spread around and perhaps gone thru various iterations since
www.efuturevision.com/ehomej.php3
www.efuturevision.com/em930.php3
uses 9ema but jimmer uses 9sma
20:20 jimmer49: people who have been in a room with someone like Mike try to export what they learned after they leave and often mix it up and confuse themselves and others
20:20 jimmer49: which is fine with Mike LOL - and me too
20:21 jimmer49: honestly, the last thing I want is everyone trying to do what I am doing
20:22 jimmer49: fine line between sharing and giving away the store
20:22 halpern: jimmer49, so, people don't usually have much success trying to copy someone elses setup?
20:24 jimmer49: they try to copy without really learning
20:24 halpern: yeah, I can see how that would be a problem
20:24 jimmer49: nuances in everything and they can make a big diff
20:25 jimmer49: mostly, when they leave the mentor from whom they learned, they tend to fail
20:25 jimmer49: all come from not doing the proper work and hoping to just piggy back on what someone else knows or seems to know
20:33 @Buffy2: jimmer cited the reason why people say 2xbline doesn't work - they learn the basics but don't stick around to learn the nuances - granted if consistant with basics and wait for setups will still be profitable if keep losses small
20:36 Elroch: I get the impression that everyone who achieves sustained success ends up with an approach which they have developef themselves, using ideas they have learnt from others. Learning a packaged setup doesn't seem to bring rewards, for the reasons given, and others. But the ideas come from seeing what other people do. Even if you use someone else's indicators exactly, it's when you enter and exit that matters, and it won't be just the same as anyone else
1:31 JohnK: jimmer49, do you use a hard stop or trailing stop and a 6 to 8 tick target or just enter and exit by watchin indicators?
11:37 jimmer49: John - I have an initial stop of 6 ticks using ninja trader and adjust as scenario unfolds. All entries and exits discretionary unless stop hit - usually out before that happens
Nov 23rd through Dec 1, 2005
10:28 jimmer49: trigger bar above last yellow dot
10:29 jimmer49: entry on takeout of trigger
10:30 jimmer49: stop 2 ticks below trigger bar
10:31 jimmer49: the trap would have been the bar above the X
10:33 jimmer49: one fast sto makes that loop up to 80ish, need to allow some
time for next valid trigger
10:33 jimmer49: the trap would have been premature entry - learned the hard
way
10:38 Stok2: jimmer, what conditions are your yellow dots for trigger bars
?
10:40 jimmer49: for long would be - up slope on 30wma, 9sma above 30wma, price
falls below 9sma - at that point any bar is a potential trigger bar
10:41 Stok2: thanks
10:41 jimmer49: unless a trade the opposite way in htf has triggered and is
under way - little diff
10:41 jimmer49: I am using 9sma - simple
10:41 jimmer49: Mike, who taught me uses ema
10:59 Elroch: Jimmer, are you using smoothed stochs with close data point
these days?
11:02 jimmer49: yes Elroch
2:14 dpg: Jimmer, any thoughts on how you can anticipate if price will bounce off an MA like the 3 min 30wma or plow through it before continuing?
12:18 jimmer49: the answer is in the stoch imo
12:18 jimmer49: but no way to simply state it
12:19 jimmer49: but that is where ai would look for answers
12:19 dpg: I understand. tnx. buffy would say something similar to me
12:19 jimmer49: no other way, really
12:20 jimmer49: you will find that Buffy and I think much the same
12:20 jimmer49: we were raised in the same commune
12:20 Elroch: I think your viewpoints have become more similar
12:22 jimmer49: we got all our inital clues mostly from Mike Bruns
12:23 jimmer49: and a little here and a little there from others that we both
were with at one time or another and from each other
12:24 jimmer49: my main contribution was using two stoch and overlaying them
12:24 jimmer49: much else came from that
12:26 jimmer49: then thinking differently about bands and how they help to
anticipate
12:30 jimmer49: algorithm is another person significant to me in my journey
12:30 jimmer49: one of the best technical traders I have known and one of the
nicest
12:32 JB: thanks for sharing jimmer, will close for today, bye
7 jimmer49: eleven trades all small
13:57 Elroch: jimmer, were you encouraged by the test of low there?
14:44 jimmer49: this is best situation for mof
14:45 jimmer49: htf slow sto at extreme and ready to turn
14:55 jimmer49: one of the day's best as it turns out
15:12 jimmer49: stoch separation for reentry
15:14 dpg: not sure what you mean jimmer
15:15 jimmer49: the circled area - fast stoch separated like a sling
5:24 dpg: looking for rules, cuz my instincts usually fail me w/ financials. what can I say
1:53 ichimoku: jimmer, how do you exit your trades?
11:21 jimmer49: 9sma and 30 wma are mostly what is relevant to what I have
talked about here
11:22 jimmer49: my stoch params are 21,10,4 and 7,3,3 smoothed, on close
11:22 jimmer49: those are my primary study tools
11:23 cstrader: jimmmer... is your system mechanical or does it involve making
discretionary decisions?
11:23 jimmer49: discretionary with rules
11:29 jimmer49: important to me to have both stoch superimposed in same sub
window
11:30 cstrader: Anyone remember the link for the mechanical 9-30 trading system?
11:45 dpg: cstrader, was this what you were looking for? http://www.efuturevision.com/em930.php3
11:30 pat255: jimmer what is that light blue & yellow dots in the stch pane..?
11:34 jimmer49: no sound here and room minimized much of the time
11:35 jimmer49: please no pm's during market - too distracting
11:37 dblue2: Thanks for sharing Jimmer... hope we don't drive you away too
soon... ;^)))
11:39 jimmer49: no prob - I am in control of how much distraction I allow
11:39 jimmer49: enjoy the company
11:40 dblue2: good!
11:39 jrtrader: jimmer, what do you use for managing exits and targets? thnks
11:41 jimmer49: much of what I do involves quick decisions and timing, so need
clear focus
11:44 jimmer49: jrt - just my reading of price action, no set rules
11:45 JB: jimmer, about timing: do you close a trade when price doesnt move
quickly in your favour? or do you stay "in the water" even when price
starts ranging?
11:45 jimmer49: price action an overall context
11:46 jimmer49: stay in, within reason
11:49 jimmer49: hundreds of hours of chart time
11:49 jimmer49: clues from people who know what they are doing
11:50 jimmer49: that is how one becomes successful
12:36 @Buffy2: 100-200-300 the usual tfs right? (AB Esignal data feed)
12:37 jimmer49: yes, B
12:37 @Buffy2: tks
12:38 jimmer49: 900 also
14:02 Elroch: Jimmer - when you chose MOFs like the two early shorts, do you consider long term divergences at all?
14:03 Elroch: I see 300T rd there
14:04 jimmer49: yes, E
14:04 jimmer49: try never to ignore serious div - rd only
16:03 Slim: Jimmer.....what is your trigger on the 100 tick once it turns in your direction
16:05 jimmer49: Slim - those mof entries I try to take right at the band
16:06 Slim: at the lower band or upper band
16:06 jimmer49: lower band for long
16:06 Slim: ok thnx
16:08 Slim: Jimmer........the bars could ride down on the lower band for several bars before turning.........don't you need something other than hitting the lower band before going in? I realize that so something else must turn along with the lower band and I was just wondering what it was
16:10 jimmer49: trusting the slow stoch, Slim
16:10 Slim: oh ok
20:00 Elroch: BTW, I have one question. Would you take any MOF that looks good on the 100T or is some longer term encouragement required?
20:01 Elroch: I feel happier if I can see it as a refinement of a long term setup
20:01 jimmer49: very good question, E
20:02 jimmer49: what I want on 100t mof is a 300t slow sto that is very oversold (for long mof) and looking like it could possibly turn - doesn't have to turn, just look like it could
20:02 Elroch: Right - So avoids trading against a trend that is flying
20:02 jimmer49: will not fight a htf slow sto that looks like it has more to go - not worth it
20:03 Elroch: Thanks
20:03 jimmer49: appreciate the encouraging words from you guys
20:04 jimmer49: I like the company here, but will remain without sound and keep low profile during trading - easy to post, not as easy to find time to explain - so sticking with what I think is fairly self explanatory
20:05 Elroch: Did you travel or anything in your long break?
20:05 jimmer49: traveled around this area - plenty of new things to do here
20:05 Elroch: You moved a while back, didn't you?
20:05 jimmer49: June
20:06 Elroch: Very recently then. So a new part of the country for you.
20:06 jimmer49: yes
10:15 jimmer49: classic buy div there on 100t er
10:18 jimmer49: that plus the pattern on 900t was signal to find a way in to a long
10:25 jimmer49: anticipation so important
10:28 jimmer49: not to be confused with expectation btw
11:24 jimmer49: was notable sell div on 300t er
11:37 jimmer49: second classic sell D on 300t er
11:38 jimmer49: much more likelyhood of follow thru than the first one
12:07 ichimoku: Jimmer what are your yellow KT bands settings?
12:07 jimmer49: 1.3 30 simple
12:08 ichimoku: ok thanks
12:08 jimmer49: so, 100t is mof long, but time of day not the best
12:22 jimmer49: mof long on 100t led into ordinary 9/30 short on 300t
13:32 jimmer49: was mof short