|
|
| |
|
 August
28, 2005 Commentary (weekend edition)-
Today is the
day I am going to unveil the projects. It will be a little while before
everything is available and the pages are updated, but I'm going to lay it all
out now. For quite some time I have been working on not one, but two new
books. It started as one, a book on my new median line work, but quickly
evolved to two as I realized I was discussing my new ABCD patterns quite often
in the members'
section, and the readers had no reference work for those. I have come
to use the new ABCD's extensively, and it became apparent that a book was
getting to be a necessity.
This prompted me to do the nearly impossible, and write
two books simultaneously. I had been working on notes and charts for my own
reference for a long time on these topics, so under the illusion that it
wouldn't be that big of a deal to put these together, I started the second
book. I intended to release them both at the same time. I finished up the new
ABCD book first, called Kane Trading on: Four 'New' ABCD Pattern
Variations, and it is due back from the printers on Tuesday. The second
book, Kane Trading on: Median Line and Fibonacci Synergy, should be done
in September, and I will hopefully be shipping that in the second half of
September sometime.
As I updated the members as to my progress every single
person in there who contacted me said they wanted the first book right away,
and would take shipment of the second book when it was ready, as opposed to
waiting until both are done. I decided to offer them up now, and ship
MLFS out when it is done. This brings me to the details of the books. I
had a lot of qualms about releasing this information, as I did with the
material in Kane Trading on: A
Totally New 5-Point Pattern. I decided to do the same thing here as I
did with TNFP.
These two new books will only be available as
part of a full book set package, and not as 'stand-alone' books. I will be
updating the books page to reflect the new package some time this upcoming
week. The books will also be available to previous full set buyers. I will only
sell them together; they will not be available singly. For a limited time I
will give a courtesy discount to previous full set buyers to keep them 'on par'
with the discount new full set buyers will receive. If you are a previous full
set buyer and would like to make the purchase please e-mail me for the link, as I will not
post it to avoid confusion.
With this latest offering I am hoping the book set is
now 'complete'. I would like to stop writing again for a while. I did give my
pen a rest, as planned, for the better part of a year, and now I hope to rest
it for even longer. Given how much median line work I do now, it seemed as
though my book set was incomplete without any reference to what I am doing
there. Since I 'invented' a lot of what I do with the sets, it was becoming a
necessity in my opinion to have a book on that material. As I did the book I
realized that a lot of the synergy examples I wanted to use, based on
recent setups, were using my new ABCD patterns.
It didn't seem right not to use any
of those examples, and it also didn't seem right to use them and have no
explanation for what they are or what the parameters are for them. That's what
spawned the writing of a concurrent book. These two books really fit together
well, and complete the book set much better now. This leads to an interesting
point. I plan to lay this out (among other thoughts) at some point in the not
too distant future, in more detail, in a free article about the road to the
Kane Trading two-year anniversary.
What I am getting at is that my book set has
really evolved to be more like a course. Almost all my sales are full sets. I
am getting increasingly uncomfortable selling individual books. Most of the
time, it seems, when I do sell one or two books I invariably get a request to
purchase the rest of the set within one or two days of the buyer receiving the
book(s). I don't like to sell them individually because they all fit together
as part of a greater, holistic, synergistic whole. They are all part of my
entire 'Trading Plan' from start to finish.
I originally
thought that if I broke it up people could select out areas they felt they
wanted to work on. As time went on I realized just about everything I do is
very unique and unusual, and is designed as part of my overall methodology.
Without the 'context' of the entire methodology it may be hard to grasp the
entire gist of what I am showing, and why I am showing it. For this reason I am
moving towards full set sales only. I am not there yet, but it is almost surely
coming.
With the new books the set is now approximately 2,000 pages long
(don't get freaked out, it's fairly easy, sequential reading with lots of
charts to guide you), and the members' archive is at approximately 1,000 pages
in Word format. Hence, this is not a book set any more, it a full-blown course.
It is just about everything I do from A to Z. I want to offer it as such, and
appeal to those who are interested in such an undertaking. As it is, almost all
my sales are full sets now. This change would only make me feel better about
how I offered it, and eliminate the trips to the post office for me with one
book, and then right back shortly after with the remaining books.
I am trying
to get back to this project being a reasonable commitment. Shipping full sets
of books and writing the members' commentary (which I basically love to
do), with the occasional hand-selected mentorship, is reasonable. My focus can
stay on my trading, and I can go back to having free time and some R&R when
I need it. As it is now I am working every waking moment of every day. As I
wrap up this rather lengthy discussion, let me update the international
shipping changes. These, too, should be posted some time this week or
so.
I
will now be accepting PayPal for international orders as long as the buyer is
on the list of now over 50 PayPal
accepted countries. Since the books page PayPal buttons are set up for
continental U.S. orders, and they add shipping costs based on that, an
additional shipping payment will be required for international orders. I will
be setting up an international shipping page to assist with this
process.
The buyer will be directed to contact me to discuss shipping
options and costs. Once the method and costs have been determined the
additional payment can be made on the shipping page. This should smooth out the
process of ordering the books internationally, and is a needed improvement
since I am getting an ever-increasing number of orders from overseas. As all
this unfolds I will try to post the updates to the What's New page.
Now that I
have all that explained, let's look at some charts. I will cut and paste an
interesting setup from this last week in the members' section, in the ES. We
had been following the ES before this point, looking at some previous
setups.
"Today I'm going to show an incredible setup from yesterday's ES.
This was so amazing that I wanted to show it before the memory of the day had
faded for anyone. There was a steep sell off that shocked all the talking
heads. Must have been the rise in oil prices, they said. As usual, I noticed
something there that had me ready long before oil, or anything else, became the
excuse of the day.
Let's look at a 13-minute chart.
Here's the layout I saw the ES putting
together. There was a nice looking ABCD, with an ABCD in the BC leg (was that
useful to me?). The line above is that very same trendline that we discussed
before. The first arrow shows the setup we discussed previously. Now look at
the area of the second arrow. The truth is, I could set up my groupings now,
and be ready to take a trade upon an entry trigger. I have enough here for me,
given the 'context' I have at this point.
Let's play around a bit more,
though. Time to be amazed.
I put this 'standard' (I sometimes also call
them 'natural') set on my chart. I noticed the interaction of the price with
the ML here, and the PTA was the third 'test' of that line. I saw the
intersection in the area, and it added more confirmation for me. This is
looking very good at this point. Understand that I am showing all this with the
price action right at the area so that the pattern and setup is clear, but I
was doing all this as soon as the C point was formed, and even earlier on some
of the sets.
Let's do some more work with sets.
I actually use very few 'standard' sets, so I
wanted to see what one of my 'adjusted' sets would look like off that same
anchor area. I added this set on, keyed off that low from the action there on
the 24th. This line fell right in the area, just above the price action on this
chart. I am not looking for an exact spot or exact intersection, just something
close to point the area out to me. Notice the 'time factor' here, showing me
when to expect the price action. This is less dramatic looking here because the
price is shown as it is close now, but look back at when these sets could be
created. That's impressive.
Now, you think I am done? Let's do another set.
That last sell off was very significant, so I
wanted to look at an 'adjusted' set based around that. I know the chart is
getting cluttered, but try to wade through it and find the new set. I anchored
the set based on the lowest swing-low on this chart. That brought the ML upper
// right into this area. I now have four lines all hitting in the same area,
and all from sets that look very significant. I'm not stretching it to find
these sets, they are all very obvious ones based on my methodology. Then I have
that nice looking pattern right there. I haven't even gotten to the Fibs and
groupings yet, and look what I have.
I'll clean the chart up before we see how
this played out.
I deleted off all the lines that didn't fall
in the area except one, the lower // from that larger set. Now the line
convergence should be pretty clear. I won't build any groupings here, as the
reader can do that if desired (it's always good practice), and it's not
relevant to today's point. Note that all this isn't all that could be shown,
either.
Let's see what happened from here.
The ES went right up to the spot and dropped
like a rock. It was all blamed on oil. Just look at the 'time factor' aspect I
frequently talk about. The ABCD completed at this massive line convergence, and
if you 'averaged' the line intersections, it points to just about the exact
spot the ES reversed at.
The intersections told me when this may come
together, way, way before price got there. I see price just shoot straight for
the convergences between lines and Fibs/patterns. To me, this is amazing,
amazing stuff. And as you can see, the ES went right down to that lower // I
left on there. That shows the balance between this correction and the last
correction. Again, I'm not looking to see this stop dead on the line. I'm
looking for guidance, and to see how it acted once the correction was similar
to the previous correction."
The next commentary will be next weekend's edition,
posted by Sunday evening, September 4, 2005.
|
|
|
| |
|
|
 NOTE: Reading this page or
any page on the Kane Trading website, or utilizing this website and any
material
contained herein in any way, shall constitute an
acknowledgment that you have read, understood and agreed
to all
the disclaimers,
terms & conditions, and
policies of this site.
|
|
|
This
website is best viewed with MSIE 6.0, text size set to medium, and screen
resolution set to 1024 by 768.
Copyright
© 2005 Kane Trading. All rights reserved.
|
|
