I moved the score numbers in The Pattern graph as shown below. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=3344724>
Totally agreed! I am a typical "worker" trained by the education system. I thought I "learned" in the high school and the university. At that time, learning was to memorize everything and got pass in the exams. I didn't understand the thing I memorized. I was a CW....I am still a CW (e.g. only believe the authority like jack or spyder instead of believing the market), but trying to change my mindset. A degree is an admission ticket to get a job or just a job interview. I can't trade profitably by memorizing all the definitions. I have to understand what the elements are. I can memorize the ten cases (also the color and the lines), but I don't know how to apply them to annotation/trading.
Oh, Steady. You sound like my oldy-day drill sergeant. Am I a moron on PVT because of my question pertaining to the Score numbers on the chart? Few weeks ago, I put up a picture of Jack's desktop display (9-15-2009) in TL. Somebody hammered me saying I lied because Jack never use indicators. May be you are right that people need to learn to trade Rocket, Iceberge in four levels, Slaloming, Failed Resumption, and If1/If2 APA Protection SCT strategies, etc etc, step by step. I believe that the Pattern is basic and universal. When you have the pieces gelled together, whether PVT or SCT or SK0 Methodology, they are all the same.
In fact, you are correct. The pattern is universal. But to get that pattern encoded in your brain, the average person needs to follow the program as laid out. If you try non-linear Algebra before u understand Pre-Algebra, u will be blown out. The average person just cannot do that.
Hey, be kind! It became pretty clear once I realized that jack had not responded to the specific chart I had just posted but was laying out the simplest way the pattern completes. Yes, you are correct about the error- sorry...moving too fast. It was correct on the drawing and wrong in the tabulation. Corrected V2.0 attached hth, Vienna
Currently I have a five book suite on trading reduced to about 12,000 draft pages. It will remain an inhouse adjunct. Your PH editor's boss was assigned to me (in 48 hours) about four years ago. I declined. To get serious, I am now involved in two books. One deals with 7 watersheds that interrelate. How fifty years of ranching (and it's photography) have affected this environment is the theme. My other book with three other authors, will be a 2 milliion press run (and distributed free of charge); It deals with the numero uno problem of the US government and the worldwide military. A cure for PTSD as applied to mulitple deployed boots on the ground. This pre post tested program is viseral and a dramatric response to the futility of war and the ignorance of the brass at the Pentagon. If you wish you can look at my most recent book which unloaded 400,000 copies in 5 months. Google under the suffix .au trend folloing does not work. My substitute is trad monitoring and analysis which you term gibberish. you happen to be incorrect on trend following and you are incorrect to dismiss trend monitoring and analysis. One of the books in the suite focuses on neuroplasticity and explains the differences of what you and your kind preach and how an assortment of experts DO extract the market's offer using a variety of deductive techniques. Try writing a book with volume in the index. LOL ......
SKO the difference between the numbers I use and yours is that I relate to the beginnning of trends and you relate to the end of their overlap (the BO place of price). The reason I posted the deductive problem was to try to switch people over the "reasoning" to put things in their minds. The Pattern emerges as the only possibility. Getting a pattern to happen where the point 1 is in the middle of a container and point 2 is "outside" that container is the very fine refinement that makes a whole system gel. It is like the hexagon in organic chemistry. Or how an egg can become a chick. The chemical content of before and after do not match, unless........... the unless is having to go to sub atomic pieces. Take the time to use your six pieces from the two triads and force them into the three pairs of CW. Use dominant and non dominant in your notes and find the obstinent flaw that up/downers cannot get past when trying to build their minds. They cannot build their minds into a systemmic routine because of thsi huge flaw. Look at RN's chart and see his struggle. As you read anything of covel's you see him time and time again showing the limitatiions of his constituency in that they use "statistics" based on induction to "irrationalize" what they can't do. He begins with a guy that can make 20% a year. Sit down and find out how long it would take anyone to make money if they used their own money to grow wealth. Making 20% on capital is making 6 points on a one contact trade during about 20 to 40 minutes of price movement in ES. Covel champions a guy who spreads this 20% out over a year. Lets say it takes longer. Make 6 points in as long as you want. It is NOT going to be a year to do. The paradigm shift occurred about 50 years ago. No one in the financial industry noticed except for brokers who coattailed us. And the SEC finally got computers and programmers who could not differentiate experts from insiders. I borrowed 100% to buy a crusing sailboat (US 122, King's cruiser from Gothenburg Sweeden). The term was interest only for two years. I had to pledge in street name 100% stock which I could trade. For the last 6 months I traded consecutive B's on the NYSE to get a rise out of the fairfiled County Bank and Trust staff. No murmers, even. then I went in to sell less than half the stock to pay off the entire principal. The guy made the list and used a portion of each holding. He sent my remaining stock to my broker (it was worth much more than the original colateral). Did anyone notice that I used the toy for two years and it was free in the sense that my colateral more than doubled? No Nada. This is like covel working as the french detective in a farce where he has the lead role. This guy spent 8 years writing "Trend Following" and actually produced nothing and he never met any experts (there are none in the book) and he doesn't even mention volume or many many other terms in the index. Have any of your guys ever been to trader's expo and listened to a panel od "Experts You Have Never Heard Of" Why hasn't Covel run into any of these guys? How come I know all their cell phone numbers? This stuff he writes also sells, apparently. But who buys it? I know. salemen who are selling mutual funds. Sales guys who sell anything that moves to ignorant people. financial crisis originators. maybe regulators. IB's. I took my free pass to "Margin Call" out of my genes today as I was walking over to open our gates. That whole crew of screw offs didn't get it either. They are just Phoenix's who rise out of the ashes and dupe yet another group of ignorant people. If you make the pairs from the triads, you will ge a real AHA. Do you think covel could make the list? Nope he can't. He just calls me names. LOL.
So cool. It's like DNA. Now slowly deal with what you HAVE and how three pairs of up down do not work, Just write two columns. One column for up/down and one column for Dominant/non-dominant. Use U, D, and DOM and ND. Make it look like this U Dom D ND U Dom D Dom U ND D Dom U and D alternate BUT Dom and ND do not alternate. As the 6 events unfold for a CW trader he always sees what he does not expect. Can you now see why the three posts of hahahahaha guy turned out the way they did. He saw a long trend finish and at point 2 of the short he went long again and set targets "outside" of the price domain. He gets one target (fortunately, by luck) and then the other contracts get taken out on a moved B/E stop. He quits for the day he tells us. Why did he quit? He was doing the six pairs list above and got screwed up mentally. covel's books are all filled with this pairs of U/D trap. He has a name for the triads of trends: gibberish. The gibberish follows below as two triads: Long: U Dom D ND U Dom short: D Dom U ND D Dom Notice it IS the same list and in the same order. Now notice if you are "getting it". Does your mind go with the flow of reading things corectly (Triads of completed trends) as they unfold or are you still stuck with covel and his CW way of thinking. For me it is not hard to grind covel into the ground and destroy his work with the actual facts. The facts speak out loud. I gave everyone the opportunity to conduct their own discovery process. I feel it is important to do the discovery. Now you can go through each of covel's books and correct them and mail them to his editors who didn't catch on either. Read a guy like Jon Netto. His "One Shot, One Kill" is right on the mark. Semper Fi. Wasn't all this fun. Now you get to be a millionaire. Make money (trend monitoring and analysis); add contracts (compound); have riches (keep a million here and there) (A good book title) Be Do Have.