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The attempted text graphic (below) in my email was scrambled in
transmission. I made a new Word version as an attachment, sent it, but
never received it. Does this list block attachments, or did I do something
else wrong? Did anyone receive the attachment version?
Thanks, Dave Johnson
-----Original Message-----
From: Dave Johnson <dsj000@xxxxxxxxxxxxxx>
To: omega-list@xxxxxxxxxx <omega-list@xxxxxxxxxx>
Date: Sunday, September 26, 1999 1:23 AM
Subject: Re: simple
>Joe Ross is a trader(been around a long time) who teaches techniques based
>solely on chart action. He actively discourages following indicators.
>
>The "Ross Hook" is the core of his method, and is based on something like
>what you are describing: For example, a low is set (call it 1), followed
by
>a retracement to "2". then a down leg. But the down-leg does not set a new
>low. The low of this down leg is "3". If the next up-leg rises higher
than
>2, a trend is beginning, and the next swing-high of this up-leg is called
>the Ross Hook.
>
>Ross's main technique is to trade after the "3" described above, as the
bars
>start making higher highs, and also after the next low following the Ross
>Hook, after the bars make higher highs.
>
>Short trades are inverted.
>
> I
> I Rh
> I I I
>I
> I 2 I
>Y
> I I X
>I I
> I I I I
>I I
> I I I I
> I 3
> 1
>
>In the above example (hopefully the email does not mess up the format!) the
>first possible entry is at X, which takes out the high of the previous
>retracement bar. Rh is the Ross Hook. The next entry is at Y, which takes
>out the high of the previous retracement bar, approaching the Ross Hook.
>And so on. he theory is that entering slightly ahead of the previous swing
>high allows some margin in case the move over the "3" or the Rh is only
>market makers gunning the stops. If th move to "3" or Rh is valid, you are
>in early for the breakout and trend continuation. The Y entry is stronger
>than the X entry as the trend is more confirmed (in theory!!).
>
>There are many more details and patterns, which is how Ross fills many
>books; but the pattern above is the essence of it. The chosen bar length
is
>anything above the threshold at which the stock/future has enough trading
to
>make decent patterns.
>
>Basically puts a structure to that which you are approximately describing,
>and that which most tape-reader type traders learn over time.
>
>I hope this helps???
>
>Dave Johnson
>
>
>-----Original Message-----
>From: MTG <mtg2@xxxxxxxxxxxxx>
>To: Dave Johnson <dsj000@xxxxxxxxxxxxxx>
>Date: Sunday, September 26, 1999 12:45 AM
>Subject: Re: simple
>
>
>>i havent a clue wht a ross method is would you mind sharing it???
>>
>>Dave Johnson wrote:
>>
>>> This sounds very much like a Ross method.
>>>
>>> Dave Johnson
>>>
>>> -----Original Message-----
>>> From: MTG <mtg2@xxxxxxxxxxxxx>
>>> To: omega-list@xxxxxxxxxx <omega-list@xxxxxxxxxx>
>>> Date: Sunday, September 26, 1999 12:40 AM
>>> Subject: simple
>>>
>>> >I have been experimenting with a very simple system While it is true
tht
>>> >you have to monitor it it seems to give god results
>>> >it is simpy buying higher bottom and selling lowere tops
>>> >also in the three minute sp500 chart I have seen many times where it
>>> >sets up wht i call a should in other words if the price is in an
>>> >uptrend and it fails after a few bars to make a new high then i will
>>> >sell short under one of the more recent bars and the price. far more
>>> >often than not . just seems to fall rather dramatically
>>> >
>>> >if anyone is interested in this rather simple yet effective way of
>>> >trading you can email me and i can put some charts together as an
>>> >example
>>> >i was told once tht most traders are too indicator dependent and tht if
>>> >you learn how to read price action then it can be far more effetive
>>> >anad it would work for a variety of markets
>>> >
>>
>>
>>
>
>
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