Hey all, decided to log this before hand because this is quality stuff that you cant miss. Thanks a bunch to everyone, learning a TON! See you next week.

***Dont forget to print out corresponding chart for this log...link is here:

http://www.commoditytradingresource.com/cgi-bin/webbbs_config.pl/read/7174

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You have joined room: Lobby
Welcome!
JohnF: hi guys.
aw has joined.
Kelley has joined.
swetz has joined.
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Joe_K has joined.
swetz: Howdy folks
Joe_K: dang ! How am I late at 2:00 ?
Joe_K: lol
Kelley: hi Joe & Swetzeroni
Joe_K: Cole !!
JohnF: Hey guys.
Kelley: thanks for the revised start time guys
swetz: howdy Kelly
swetz: kelley
swetz: its all kelley's fault Joe
Joe_K: Swetz said 1 word
swetz: lol
Joe_K: Football
Joe_K: lol
swetz: lol
Kelley: lol
swetz: howdy John
JohnF: hey swetz
Kelley: well.....I knew it was one of three possibles 1) lunch 2) football 3) playoffs
Joe_K: I put equation together Kelley+Swetz+Football= Adjusted Start Time
JohnF: lol he said pretty much all three on the forums.
Kelley: lol
rr has joined.
JohnF: hi rr
Whit: hi folks
JohnF: hi whit
Joe_K: Hi guys
swetz: howdy whit and rr
rr: hello all
Kelley: hi Whit
JohnF: afk a quick sec. going to get some FOOD
Joe_K: So whos winning ?
Whit: What time do y'all usually start on stas?
Joe_K: today
Joe_K: before WE kick off
Whit: sats
Joe_K: 4:00
Kelley: I dont know
Joe_K: Usually
Ben has joined.
Joe_K: Baltimore over or under 42 ?
Joe_K: lol
Whit: thanks
Ben: Hi everyone
swetz: hi ben
Joe_K: Hi
Kelley: not sure Joe
Joe_K: If you guys have questions on anything that transpired during the Week
Joe_K: Shoot
Larry has joined.
Joe_K: Questions about Stocks or Commods or anything in gen
Larry: hey guys
swetz: howdy Larry
Joe_K: just toss em out there
Joe_K: We'll kick off in few minutes
Larry: general question about measuring cause
Joe_K: shoot
Ben: Still studying the stuff you put on your forum during the week Joe
Joe_K: ok
Joe_K: Classical measure requires PnF
Larry: if you have a support line connecting about 30 days apart, then another opoint on same line about 15 days before that, but no connecting points in between the 30 days ago, and the 15 days beyond that, where is the count to begin from?
Larry: do yo include the gap?
Joe_K: 30 days apart the trades ?
Joe_K: 1 way to tighten shot groups
Larry: yes, say 2 springs, then another point on same horizontal line 15 days prior
Joe_K: Is expand your time frame
Joe_K: Go out
Joe_K: Weekly
swetz: Larry do you have the SMI CD that Gary sells?
Joe_K: Monthly
Larry: have the course from smi, jsut havent looke it up yet, but will
Joe_K: The other way is PnF or tighten shot groups
Joe_K: Where you measure sep Cause
swetz: just was going to say that on basic lecture #8 answers your question
Joe_K: Like Island areas
Larry: ok, jsut being lazy here, but i'll look it up,lol
swetz: sometimes have to look at each section as a phase but sometimes you can combine the sections into one phase
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swetz: lecture #8 gives you the guidelines
swetz: to make this determination
Larry: ok
Joe_K: Rem too your level springs
swetz: is a good question Larry
Joe_K: 2 will be next to Ice
Joe_K: in your TR
Joe_K: 3
Joe_K: Will actually be diff
vijay: wohoooooo I made it in time this week....
swetz: its okay Larry, I am too lazy to regurgitate lecture #8
vijay: have missed it last 2 weeks
Larry: lol
swetz: lol vijay
vijay: Hello all
Joe_K: Swetz is it a no 3 Spring thats actually a Sale ?
Joe_K: I havent looked for a while
Joe_K: But rem 1 spring
Joe_K: is not really a spring
swetz: no 1 spring is actually Break Under Ice
Joe_K: ok
Joe_K: That animal
Joe_K: no 1
sheetmetal_man has left.
JohnF: hi vijay
Ben: Hi Vijay
vijay: Hi John, Ben
Joe_K: I guess well kick off
Joe_K: Im easy guys
vijay: Hi Swetzoroni...
swetz: hi vijay
Joe_K: If ya want to talk stocks
Joe_K: Swetz
Joe_K: whatever
Joe_K: Im cool by it
Joe_K: totally
Joe_K: Whatever you guys want
swetz: okie dokie
JohnF: omg joe is switching over...
swetz: I have just posted a daily chart to Joes forum
swetz: for my part of this class
Joe_K: Naw, just soaking more stuff in
swetz: I will let you guys get it
swetz: and let me know when you have it printed out
Joe_K: ok
Joe_K: ( need 2 extra minutes to install new ink carterage )
vijay: got it
Joe_K: thanks to Amos
vijay: and printed it too
Joe_K: lol
swetz: lol Joe
JohnF: Thats the first step joe.
Whit: Can you give me the link to Joe's, please?
JohnF: http://www.commoditytradingresource.com/cgi-bin/webbbs_config.pl/#7172
JohnF: right click open new window
JohnF: and should see on very first thread.
Whit: Thanks
Larry: got it
Kelley: I have the chart now
Whit: LOL I've been looking at this stock, too
swetz: today, I was going to put together what we talked
swetz: about last Thursday
swetz: regarding stock selection
swetz: to actual practice
swetz: going through the process of finding the stocks and then using Wyckoff to actually trade it
Kelley: sounds good Swetz
JohnF: thursday was a GREAT class.
rr: Proceed Dr.
swetz: okay
swetz: sorry my computer playing tricks on me
swetz: okay guys, we talked that Thursday about the 4 criteria
Ben: Thanks John, I'll get from archives. Printed
Kelley: is your computer a HAL-9000?
swetz: I look for
swetz: lol kelley
swetz: commodore 64
swetz: lol
swetz: I look for to select stock to follow
swetz: I run a screen on Daily Graphs Online
swetz: which is where this chart is coming from
swetz: the screen is this
swetz: I run this either every weekend or every other weekend
swetz: the screen is the following
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Joe_Kl: got bumped
swetz: EPS rating > 70, RS rating > 70, Comp rating > 80, A/D rating ABC, Avg Volume > 75,000
swetz: I get about 250 stocks or so using this screen
vijay: 75000!!! thats pretty low
swetz: I know a hedge fund manager that uses 50,000 avg volume
vijay: So I was right when I said you are a part of the CM group
JohnF: lol
swetz: lol
JohnF: Sw is the smart money.
swetz: now you guys you are not familiar
swetz: with the IBD ratings
swetz: that is what these are
swetz: the stock traders here are probably very familiar with them
swetz: for you futures traders
swetz: these ratings are just my way
swetz: of reducing the 8000 stock universe to a more manageable
swetz: size
swetz: so from this screen we have already gotten the universe down from 8000 to 250
swetz: so the next thing I do
swetz: is export this list into TC2007
swetz: to run technical scans based on Wyckoff setups
swetz: that way, I dont have to look at 250 stocks EVERYDAY
swetz: on weekends, I do look at all 250 stocks
swetz: you dont have to but I am psychotic
Larry: what are your parameters for the tc2007 screen?
JohnF: = swetz
swetz: lol
swetz: good question Larry
swetz: that is next
swetz: once I download this list to TC2007, this is my stock universe
Larry: ok, jumpy here,lol
swetz: at least until next weekend
swetz: lol
JohnF: lol larry.
swetz: I dont worry about whats going on with the other 7750 stocks
swetz: so now the TC2007 scans
swetz: I run these everyday
swetz: before I go on - I want to remind you guys these is the procedure for LONGS
swetz: not shorts
swetz: the TC2007 scans are based on Wyckoff
Joe_Kl: ( Ones that coinside with natural entrees get selected first )
swetz: yes sir Joe - great comment
swetz: these TC2007 scans are looking for SOS, JOC, and springs
swetz: and LPS
swetz: for springs and LPS I run a scan that looks for 5 day lows made either today or yesterday
vijay: what are natural entrees?
swetz: obvious Wyckoff entries
JohnF: oh...i was thinking about food...
vijay: ic
swetz: lol John
Whit: Does that mean today or yesterday made the lowest low in last 5 days?
swetz: this scan is great because it finds stocks that are reacting
swetz: yes Whit
Whit: thanks
swetz: so immediately my list of 250 stocks gets reduced to 50 stocks or so
JohnF: Do you still scan for trading ranges?? or is that unnessesary here??
swetz: I dont do that John
JohnF: ok, I remember seeing htat on ibd forums.
vijay: Are you gonna explain the TC scans, or did you already explain it earlier?
swetz: 5 day low today or yesterday Vijay
swetz: is the main scan I use
vijay: ok
swetz: in TC2007
vijay: you will miss 1st degree countertrends wont you?
swetz: the other scan I use is stocks closing near at the top 1/3 of bar range on a wide range bar that is the greatest in the last 4 days
swetz: very, very few vijay
vijay: true
swetz: I can explain this too you later
swetz: why it is less than you think
swetz: and avg volume that is 40% greater than average
swetz: and making 20 day high
swetz: this 2nd scan is designed to find SOS and JOC
Kelley: TC2007 is your charting software correct?
swetz: its one of 3 kelley
JohnF: daily graphs is as well
Kelley: ty
swetz: I actually think there charts suck - lol
JohnF: tradestation offers graphing tools.
swetz: but there technical scans are AWESOME
JohnF: yes tc charts are kinda lame.
Kelley: ok, I see
swetz: so scan #1 finds LPS and springs
swetz: scan #2 finds SOS and JOC
swetz: so from my universe of 250 stocks
swetz: I apply both of these scans daily
Whit: Is TC2007 a free service?
swetz: $260/year
JohnF: no whit. First month free.
Whit: OK, thanks
JohnF: need credit card though...they recurr charges if you dont forget to cancel.
swetz: so after applying these 2 scans
swetz: and I want to remind you guys that these scans DO NOT replace WYCKOFF
swetz: all they do is narrow down my nightly work
swetz: to the primo opportunities
swetz: from scan #1 in TC2007 I have a ID/NR4 column
from scan #1 in TC2007 I have a ID/NR4 column
swetz: which offers great buying opportunities
vijay: ?
vijay: ID/NR4?
swetz: inside day and most narrow range bar in the last 4 days
JohnF: watchlist this is??
swetz: its a Linda Raschke and Toby Crabel pattern
vijay: ah.. used for sorting?
rr: ten four
swetz: yes used for sorting vijay
swetz: TC2007 John
swetz: so when I am going through the charts that come from these scans
JohnF: take out ones to stalk.
swetz: I am focused ONLY on Wyckoff setups
swetz: so on December 1, 2006
swetz: I was running my weekly scan, which found HXM
swetz: this is the chart on Joes site
Larry: came up after tc scan too?
vijay: scan2
swetz: right Larry
Larry: impressive
swetz: sorry guys meant Nov 22 weekly scan
swetz: then on 11/28
swetz: on the daily TC2007 scan #!
Larry: look at those springs!
swetz: scan #1
Whit: that was the spring?
swetz: it came across my 5 day low scan
swetz: yes Whit which found a spring
Whit: nice
swetz: so when I saw this chart I looked at the 4 criteria I like to look at
swetz: on the chart I provided
swetz: if you look at the bottom
swetz: you will see the quarterly earnings/sales growth
swetz: notice the acceleration of earnings growth
swetz: and very strong earnings/sales growth
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JohnF: Do you ever pay attention to eps dates??
swetz: the projected earnings were strong too
swetz: yes John ALWAYS
swetz: once I see an opportunity like this
swetz: I go to Tradestation charts
swetz: to start drawing lines and analzying this chart in detail
swetz: those charts are real-time and is what I will be looking at during the trading day
swetz: to trigger the trade
swetz: we see that this stock is in an obvious uptrend
swetz: we have a spring
vijay: That is a very minor spring
vijay: unless I am looking at the wrong place
swetz: we do not see any ending action
swetz: yes it is vijay
vijay: can we call it a spring?
swetz: but still a spring
Ben: Great prep work Steve
swetz: so we dont see any reason that the markup phase should end
Whit: the trading range is very tight -- it's what Wyckoff called a resting spell, rather than a reaction. Springs are smaller in this kind of bullish scenario
swetz: you good Whit - you beat me to what I was about to say about how trends correct
Kelley: lack of volatility
swetz: a trend can correct in one of 3 ways
Whit: sorry, I'll be quite
swetz: no was great comment Whit
JohnF: lol! gj whit
swetz: it can either have a normal reaction like to the 1/2 point or to the support TL
swetz: or it can have a shakeout
swetz: which generally needs a test to prove the shakeout and to dry up the supply on the shakeout
swetz: and lastly just like what Whit said
vijay: ? swetz
swetz: a resting spell where it just moves sideways in a tight consolidation pattern
swetz: which is the most bullish of the 3 types of corrections
swetz: sure vijay
vijay: Is “5 day low today or yesterday” the only criteria for scan1?
swetz: yep, thats it, I sort it with ID/NR4 and I sort it based on a relative strength measure I use
swetz: you guys will find out that what I do is simple
swetz: but simple is VERY EFFECTIVE
vijay: surprisingly simple
swetz: we rednecks are simple people
vijay: too
swetz: so I see this spring
Kelley: lol
swetz: but I got to be honest with you guys
swetz: I DID NOT buy this spring
swetz: the wide range bar the day before made me cautious
swetz: so in REAL-TIME, I didnt know if this correction was over or not
swetz: so in TC2007 what I do is place a checkmark besides this stock
swetz: when I found stocks that I am probably not going to buy tomorrow but am very interested in stalking
swetz: this stock is a prime example
swetz: I have a stalk watchlist which I watch EVERYDAY
swetz: this stock was on that watchlist
swetz: in TC2007, I LOVE the flexibility of creating watchlists
swetz: you can checkmark the stocks you want to stalk and it will create a watchlist for you of these stocks
swetz: very easy to do in TC2007
Kelley: amazing
swetz: so what I did in HXM was watch it everyday
JohnF: (is swetz working for them???)
JohnF: jk.
swetz: I was doing a bar-by-bar Wyckoff analysis
swetz: lol John
Larry: does tc2007 have alerts for these stocks?
JohnF: i think sw does it in Trade station
JohnF: i think hte platinum TC version has it.
swetz: I use Tradestation for that Larry
swetz: I think you are right John
JohnF: but thats much...MUCH more than end of day version.
swetz: right John
Larry: ok
swetz: so what I do in TS2007
swetz: when stalking a stock is put an alert above the prior day high and low
swetz: sorry not TS2007 but Tradestation
swetz: on that HXM chart after the little rally from the sping
swetz: spring
swetz: do you guys see the 1 bar pullback
swetz: that tested the spring
Larry: the last one?
swetz: it was on 12/4
Larry: yes
swetz: my Tradestation alert went off
Ben: Yep
JohnF: high volume day??
Kelley: y
swetz: yep
JohnF: ok. on it.
swetz: John made a great observation
JohnF: mid range close.
Larry: on big up day for the mkt, must sound like jingle bells,lol
swetz: because with so much volume
JohnF: lol larry!
swetz: wouldnt you think that HXM would trade below the spring low?
swetz: here is supply coming in
JohnF: demand held firm.
swetz: but where is the result
swetz: effort DOES NOT EQUAL result - Wyckoff principle
swetz: dont ever forget it
Larry: bet that weekly support there, jsut a guess
JohnF: were you watching intraday real time after alert??
swetz: yes John I was
swetz: the mid range close and HIGHER swing bottom
swetz: said demand was present
swetz: to overcome the supply
swetz: and if HXM can rally the next day
swetz: we have FOLLOW-THRU
swetz: to this potential bullish day and spring test
JohnF: yes. Excellent trade!
swetz: are you guys following what I am saying
swetz: ?
vijay: ? Steve
Kelley: y
Larry: intraday could also tell more about the demand that day
Larry: y
swetz: sure Vijay
swetz: right Larry
Ben: y
swetz: man, this question must be a doozy, vijay still typing
vijay: For people who cannot watch during the day, do you think putting a stop market order above the TR high, like WON suggests, a good way to go?
Larry: lol
swetz: because of the resting spell and the absorption here, I would say yes vijay
swetz: or wait for a close above the last swing high and buy the open the next day
swetz: I do this myself sometimes if I cannot be in fromt of my computer or just plain miss the intraday entry
JohnF: This setup perhaps, but its nice to see reactions of major (larger time frame) suppor/resistance on intraday level.
Larry: i've done that vijay, works well, but use a stop-limit order in case it gaps up at the open
swetz: great point Larry
swetz: I use stop-limit orders too
vijay: right
Larry: learned that from you swetz,
swetz: okay guys
vijay: more questions steve
vijay: if you have time
vijay: else later
swetz: just one second vijay, almost done
vijay: ok
swetz: so the next day
swetz: look at that bar
swetz: what do you see?
Larry: high close ,wide range, less vol, EOM up, close at resistance
JohnF: after follow through day??
swetz: after the high volume day
JohnF: close at creek.
JohnF: same as what larry said.
swetz: right Larry
swetz: lol John - right
swetz: so we have upside follow-through
swetz: lol
Larry: y
swetz: this is a buy
swetz: on this day
JohnF: next three days also show demand in control.
swetz: or if you want you can place a buy the open the next day
swetz: yep, closes continued to be at the high of the range
swetz: on this trade, I put a stop below the high volume bar
JohnF: Where would stop be swetz?
Larry: 3 days later there was a small retest of the creek for another buy, vol real low
swetz: yep sure was Larry
JohnF: did you enter full position there swetz??
swetz: on the PnF chart
vijay: yep
swetz: I had cause from the PnF chart
swetz: that developed in the huge accumulation TR
swetz: that developed from May 2006 to the important JOC in early October 2006
swetz: so I had a good R:R ratio
swetz: the price/volume action during this resting spell
swetz: said that HXM was going higher
swetz: the relative strength was strong too
swetz: which can not only been seen by the upsloping RS line
swetz: on this chart
swetz: but also by comparing the % rally in HXM and resting spell reaction to the general market during the same time period
swetz: so all of the important Wyckoff principles were in place
swetz: to make this trade
swetz: the weekly scan and daily scans helped us to find this stock to stalk
swetz: using Wyckoff to see the uptrend, the bar-by-bar analysis, the relative strength, and the PnF cause
JohnF: Good stuff swetz. Method is awesome
swetz: also for you guys that follow spacing like I do
JohnF: Very simple and Very disciplined.
swetz: this correction HAD SPACING
swetz: one thing I LOVE about Daily Graphs charts is that it puts the price of swing highs/lows on the chart
swetz: you guys see the 47.60 swing low
swetz: and 46.36 swing hihg
swetz: high
JohnF: do you only do swing highs on uptrend?? or should spacing exist between SH and SL
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swetz: THIS IS SPACING and is powerful
swetz: in helping us to determine the strength of a trend
JohnF: nm you answered
vijay: never thought about this feature in DGO!
swetz: SOT is comparing swing highs to swing highs
swetz: that is not spacing
swetz: its funny how we dont see stuff, I am bad about that myself,
swetz: until somebody else points it out to us
JohnF: amos...
swetz: we can use these numbers for SOT too
vijay: right
Larry: y
vijay: true
swetz: I wanted to use todays class to show you guys the steps I go through from start to finish
swetz: in applying Wyckoff
swetz: its one thing to read this info in books or seminars which is GREAT
swetz: it is how I learned
swetz: but going from theory to practical application in LIVE TRADING
swetz: is something else
swetz: this was my attempt to show the practical application
JohnF: you guys help our curve tenfold.
vijay: there eg answer a lot of practical questions
Larry: ?: swetz, of the 250 charts you look at on weekends, how many do you find are good candidates that do not make it thru the tc2007 scans?
vijay: which the books dont
JohnF: greatly appreciated swetz
swetz: thx John, right vijay
swetz: really good question cause is dramatically different based on market conditions
swetz: I have left some minor stuff out that I do
Larry: .
swetz: but these are the basic steps
swetz: sometimes only 25 - 50 make it Larry
JohnF: as other traders...this is sw niche. We will derive from many influences and eventually find our niche.
swetz: right John
swetz: some of this stuff I do will be meaningless to you
JohnF: hopefully
swetz: but some stuff may be helpful
swetz: you may have a different way to scan stocks
Larry: really good swetz, thx
swetz: its okay with me
swetz: use whatever works best for YOU
vijay: So how long do you keep the stocks in your watchlist? Do you create fresh ones every week?
swetz: all I am doing is showing what works BEST for me
swetz: yep, I create a new one every weekend
swetz: or every other weekend
swetz: during tax season, it might be once a month
swetz: but that is only 2 months out of the yeare
swetz: year
Joe_Kl has joined.
vijay: You would have followed this stock even if there was no spring - right?
warren has joined.
swetz: the idea is to have a good way to narrow your stock list from 8000 to a hundred or so
Joe_Kl: whew yoshi down the street on top of a Jahovas witness
Joe_Kl: lol
swetz: lol Joe
Kelley: lol
JohnF: LOL
swetz: right vijay, because met my DGO scan
naw had few guys at my door, yackedy yack
Joe_Kl: sorry
JohnF: joe couldnt handle it. steve was corrupting him tooooo much.
swetz: lol
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swetz: so now look at HXM
Joe_Kl: ( brething heavy...the force is strong Luke..")
swetz: do you guys see any ending acton
swetz: action
Larry: doing that tc2007 screen would be especially helpful when the general market is having a pullback, great time to zero in
swetz: right Larry, exactly
JohnF: pretty scary down bar 5 bars ago.
vijay: The recent rally to 60.72 did have a lot of volume
swetz: I see another potential resting spell developing
vijay: But not ending volume I guess
swetz: you might be right vijay
swetz: all I can know for a fact right now is this
swetz: we have resistance at 61 or so
swetz: we have support at 56
swetz: so we got a TR with creek at 61 and ice at 56
JohnF: watch, judge reactions.
swetz: right John
Larry: vol heavy on selling, lighter on buying, maybe TR
swetz: if you want to scalp HXM, you could wait for a spring or reaction to 56
swetz: you could put an alert at 56.50 or so
swetz: and then when the alert goes off, use intraday chart
swetz: it will come across my 5 day low scan
swetz: if it reacts to 56
JohnF:
swetz: HXM already came across my 5 day low scan last week
swetz: so it is back on my stalk watchlist
vijay: Where did you take the count?
swetz: that is part of the proble to me right here vijay
swetz: and reason I didnt buy last week
vijay: $34-35?
swetz: because most of the count is used up
swetz: so have looking for a count to develop here
swetz: like a stepping stone coun t
swetz: count
swetz: yes vijay 34 and can also use 37
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swetz: also guys, do you see the absorption that occurred in the 36.50-38.50 area
swetz: in mid Sept to early October
Dave_M: y
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swetz: this is an example where you can buy the JOC without waiting for a creek test
JohnF: yes.
swetz: we got that JOC in early October
swetz: and the huge cause made this an obvious buy
swetz: my rule is that I only buy JOC if see absorption first
swetz: remember the RR HANS chart
swetz: was same situation there
Dave_M: yy
swetz: RR identified the absorption
swetz: and so he could buy the JOC
Dave_M: good eyes rr !
swetz: if no absorption at creek, can you still buy JOC
swetz: you can, BUT more risky trade and greater chance of losing
JohnF: yes but safer to wait for weak reaction to creek.
Dave_M: risky
Dave_M: wait for test
swetz: right John and Dave
swetz: what separates the pro traders to the public
swetz: is that the pro traders look for trades that reduce risk
JohnF: patience...
swetz: public just thinks about the money
swetz: and is why public will always in the end lose to the pros
swetz: eventually the public will blow up
swetz: believe I know, I have been in the public group
JohnF: we all have...
Kelley: lol
JohnF: i think I still am...
Larry: still doing the wave here occasionally,lol
swetz: yep, and ALL pros have at one time or anothre
swetz: as long as not tidal wave Larry then you okay
Larry: lol
JohnF: yes. Pros also work good account management
Larry: if using 37 count, where do you begin counting from? what month -late Feb, early April, or early May? sorry, being persistent
JohnF: from stops to risk.
swetz: early October Larry
Larry: left side?
swetz: and count from right to left in phases
Joe_Kl: What stands out today that Swetz mentioned
Larry: the phase thing, ok
Joe_Kl: ?
swetz: I would go to May Larry
Larry: ok, thx
Joe_Kl: Something very important
JohnF: Everything joe.
swetz: lol
Kelley: elimination of risk by proper set-ups
Dave_M: no cause yet to go further
Larry: routine that works
Dave_M: joe
Joe_Kl: Ya cant say everything = 3 demerrits
Joe_Kl: lol
JohnF: LOL
Larry: lol
swetz: lol
Joe_Kl: Selection
Larry: he works - there, 2 words
Joe_Kl: He walked you through
Joe_Kl: a format
JohnF: proper selection, identifiying wyckoff setups
Joe_Kl: We can all have diff formats
JohnF: executing a plan.
Joe_Kl: Whatever your comfy with
Joe_Kl: But he went into weeding
Joe_Kl: first
Joe_Kl: Because
Joe_Kl: You want a good attack model
Joe_Kl: right ?
Kelley: y
JohnF: He also advertised for IBD, Telechart, and Tradestation!
Joe_Kl: U.S. dont run into Bagdad
Dave_M: lol
JohnF: good point joe.
Joe_Kl: unless it simulates the battle
swetz: lol John - yeah I need a commission - lol
Joe_Kl: serious
Joe_Kl: They calculate
Joe_Kl: battle deaths
Joe_Kl: in advance
Joe_Kl: Same is true
Joe_Kl: Trading
JohnF: Napolean was good at math, he calculated trajectories, etc...
Joe_Kl: View every trade as a loser
Joe_Kl: calculate
JohnF: very successful in battle
Joe_Kl: the loss
Joe_Kl: If its acceptable
Joe_Kl: Do the trade
Joe_Kl: Some like 3%
Joe_Kl: 1%
Joe_Kl: I dont use those numbers
Joe_Kl: I go with set up value
Joe_Kl: But everyone can use what comfy with
Joe_Kl: Main thing is
Joe_Kl: Defensive Offense
Joe_Kl: Think Defense
Joe_Kl: mean offense
Joe_Kl: Money = Blood
Joe_Kl: Got to keep blood
Joe_Kl: to live
Joe_Kl: Plot and plan the 1st pups
Joe_Kl: in a month
Joe_Kl: REAL REAL hard
Joe_Kl: and close
Joe_Kl: Try to get UP
Joe_Kl: first
Joe_Kl: The first ones are toughest
Joe_Kl: Once your up
Joe_Kl: though
Joe_Kl: Then you LOCK
Joe_Kl: IN BANK
Joe_Kl: Use HOUSE money
Joe_Kl: Not yours
Joe_Kl: Thats the Key
Joe_Kl: Use House money
Joe_Kl: So ya got to get a few winners
Joe_Kl: Be real real selective
Joe_Kl: Make a system
Joe_Kl: comfy with
Joe_Kl: Swetz is on Auto Pilot
Joe_Kl: Scans
Joe_Kl: BAM
Joe_Kl: Wow
Joe_Kl: Look at these 10
Joe_Kl: Hmm
Joe_Kl: Priority
Joe_Kl: scan BAM
Joe_Kl: wow
Joe_Kl: toss this critters in secondary
Joe_Kl: watch em dont drewl yet
Joe_Kl: ect
swetz: lol
Larry: lol
Joe_Kl: walk on down
JohnF: what about eat??
John has joined.
swetz: only Yoshi drewls
Joe_Kl: weed out
Joe_Kl: lol
Joe_Kl: Eat all the while
Joe_Kl: lol
JohnF: lol
Joe_Kl: But serious
Joe_Kl: the 1st ones
Joe_Kl: the hardest
Joe_Kl: Theres ab old saying
Joe_Kl: an
Joe_Kl: No greater cure for winning than winning
Joe_Kl: Once you start winning
Joe_Kl: Its hard to stop
Joe_Kl: Because your format mind frame on selection
Joe_Kl: is so demanding
Joe_Kl: Your trained to weed
Joe_Kl: So keeps going
Joe_Kl: that way
JohnF: Thanks guys, Quality stuff, greatly appreciated
JohnF: gotta go, pick up someone from airport.
swetz: cy John
Larry: cu john
Joe_Kl: I think next week
swetz: glad you made it
JohnF: I will post this session on joes website
JohnF: later.
Joe_Kl: Well try to get Swetz once more
JohnF: Bye guys thanks a bunch.
Joe_Kl: Before Tax time
Joe_Kl: If he can
swetz: anytime John

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