Exactly. I agree.No point to create wheel or bicycle, everything is invented.No point to invest in modern economy model either. It`s dead. New technology is pointless. There is no growth potential nor it will be (maybe except of the entry into WTO third rate countries like Russia (unfortunately it became so), to by all that US overstocking crap). Is a small hope for US for the next couple of years.
here is an overview of the cycles 1 through 10. As you say there is nothing new. But creating immunity from whatever downsides are a potential in the future is a nice thing to have around. Cycle 1 introduced how the mind gets its inference to match with what is snesed. The flow chart was just a simbple blueprint to put in the mind. Cycle 2 is the non dom trading and it is shown in the next illkustration comming up. Components of cycle 1 are used; nothing new. How they are linked is the point of the next illustration. All nodes have a prefix 2 to ID them. M will always be the doji node. N will always be the reversal node. n, n+1 and N+2 play their usual roles. Summary of cycles 1 through 10. As seen in red, there are two ctcles to get both dom and non dom trading on the table and fixed in the mind. Cycle 3 shows the order of events of dom, non dom and dom. There are only 6 additional alelmets in this shell surrounding the prior pair. Cycle 4 shows the dom to dom "connections. There are only two additional elements in this cylce. Cycle 5 has no additional elements. By this time 204 trades have been counted in the P&L and you have gone from 5K to about 3/4 million dollars in 60 trading days. as you see cycle 1 goes from 2 contracts to 5. Cayels 2 through 5 increase contracts by 10 contracts at the beginning of the cycle and "sit" at the level for the 12 days of the cycling period. Cycles 6 through 10 are at 50 contracts. These cycles simply add itierative refinement tools. There are five tools. Naturally, each one is a leading indicator tool. All of these have been covered over the last 5 years here and elsewhere. Currently the market is alowing a contract addition every two days at the 2 contract level. The sequence of total points required as each contract is added goes as follows: 15, 10, 8, 6, 5, 4+, 3, 3, 3, 3, 2, 2, etc..... 1, less than 1. The attachments can be reduced in size toi be able to print on one page, each. In Tucson cycle 1 is the top of a 4x8 (4x4). below that will be cycle 2, 3 and 4 (lowere 4x4) This graphic compliments a 52 inch sreen showing the 5 min ES including market PACE, Laterals and internals. It is also annotated. Panels on this screen will include the tools mentioned.
Attached please find cycle 2. reduce it to fit it on one page. Cycle 2 was explained on the prior post. Note well that a 2 prefix is used on nodes. Only nodes M and N have a one to one corespondence on all illustrations (they are the ONLY common functions). Building the mind as an exact science is what users are doing. When differentiation occurs, there is no need to ferer to any illustrations. If at any time fear, anxiety, or anger appears, this is simply a behavioral emotional signal that allows you to begin journalling just what it is that you need more work on to get your mind built properly. Check a few personal journals to read such emotional signals and then read if the person makes a reason change in his technique. A cool thing to do is read the posts of a person from first to last to understand how he became a trader or became a critic who is whining about other's posts.
Attached please find cycle 3. It needs to be reduced to fit on one page. there you see 6 new elements. $ are used to sort your way into either the dom or the non dom cycle. 3E and 3F are the cycles. 3M and 3N , respectively are the doji and the IBGS test. By this time, it is possible to get a very important point: volume leads price. Also you will find that the tools 6 through 10 are the aids needed to carve turns to the tick. Others are using and discussing these in other forums and other web sites.
Cycle 4 introduces the bridge from one trend pattern to the next trend pattern. The long pattern is B2B 2R 2B; similarly the short pattern is R2R 2B 2R. Trend monitoring and analysis supercedes trad following which is a lagging endeavor. Google Covel to see where he was given the patterns and how to switch from following to leading. 4M is the doji and it is a node named 4A. nearby you see RTL and the node is 4B. Note that the RTL test fails UNTIL the RTL is reached. During this failure period you are conducted to the cycle 2 which is the non dom overlap period between two opposite trends. Once this non dom period ends the trend, free standing, becomes a dominant move. For those who do not know the difference between a retrace and a reversal, this is where you mind building gets that taken care of once and for all. Do journalling when you are at a decision point emotionally with repect to retrace OR reversal.
You can extend the P&L beyond the 60 trading days of cycles 1 through 5. At this time you become a millionaire while using the first tool: the YM which leads the ES. this tool simply is a replay of cycles 1 through 5 on the YM. your mental capacity has grown so much over the 60 days that applying 5 cycles to YM is just a walk in the park. your mind is fully differentiated and YM is just another instrument. Globally there are about 80 instruments that parallel the ES and the YM. So the whole world opens to you at this point and you have a lot of capital as well. Cycle 7 puts the DOM on the table and you just use the Sums (Sigma) of the 5 Bid's and Ask's centered on the BBid/BAsk. The rule for determining who is in control is widely fouled up by those using CW. Google "Quant" to find out this colorful foulup and come to understand why managers and their support crews cannot bweat the indexes. A book on this will be fun to do. Cycle 8 is a terrific experience. Here you find out the ganes played on the DOM and just why the DOM walls cannot be breached by either the games or the bonafide traders who are not playing games. It take capital to play ganes and, even then money is NOT being made by the game players. Cycle 9 is a fornula drivewn indicator that relates how indexes lead cash in their respective markets. The S/S has been around for years amd is now avaiolable on some platforms. check out the Hershey software section here in ET to pick up this pane for doing cycle 9/ Ganularity finally comes into play on cycle 10, the OTR panes. you can use one for each of YM and ES. Carving to the tick of the turns is done here. By googling the great detail spent explaining this you can finally add it to your quiver of tools. Being a multi millionaire occurs long before you have built your mind to be fully differentiated and integrated. If you wish to see how the Korean 9ndex was proven in to be one of the 80 indexes, google and red through that exercise which was done a while back. It has been fun looking at markets as an exact science that is free of probability and betting and OODA. Use the basic tennent of Behavioral Finance (See the text in BF or BS at that web site to deploy your emotional signals to know just when it is that you are in the fog. What BF sugggests is how to iteratively refine where you are. read PA journals to find out where and why emotional sugnals get created ALL the time when a CW trader is IN the market. this is a very important internal prsonal message being sent to a person to flee or take flight. Flee or flight are NOT choices that predicate any further trading experience acquisitions. There is a stagnent thread that features Pogo in the psychology forum. Read the ET posts of the OP from beginning to end.