lj: I need to set the record straight. As I recall, there was only a little discussion about taping construction guidelines at the meeting. However tapes were obviously being annotated the entire time. Also you know Spyder does not like us to look for "rules". So let's use the word guideline rather than rule, because the more charts I review the more I see discretion used to frame the price in accordance with the purpose of the tape rather than fixed mechanical rules. I made the statement to Neoxx "It was my understanding that we only steepen our tape to a bar with increasing volume whose close is outside the original tape's LTL", because I asked Spyder a specific question about accelerating a tape and I am fairly certain this was a reasonable paraphrase of his reply. hth
Thank you Jack for continuing this discussion. At the outset let me say to all that there is no claim on my part to have found a better way to assimilate what has been presented in the JHT nor should my remarks of last evening be misconstrued in such a way as to imply that I believe that Jack's supported learning method does not work. It does work. Rather I am saying that my approach to understanding the content of JHT is different from the way he came to understand it. For some time before starting to explore JHT on the various ET threads, I had been working on my own looking at volume and trying to understand how it related to price. My observations permitted the appreciation that indeed P and V were woven tightly together but it was not until reading his material that I saw that my view was not as complete as it could be. So after three years of solitary endeavour, I came on board the Hershey train and have not regretted that decision for a moment. From Wikpedia: Induction is used to ascribe properties or relations to types based on an observation instance (i.e., on a number of observations or experiences); or to formulate laws based on limited observations of recurring phenomenal patterns. If one is fortunate, deductive reasoning can be applied to the solution of an unknown. However frequently one does not have this luxury and thus, IMO, inductive reasoning has a definite role in trying to discover what is there but as yet cannot be seen. However there comes a point when the scientist must move on to something different which by its very nature demands that induction be abandoned. I have been at that branch point before and had no problem making the leap. Let me assure you Jack that while I clearly do not have your appreciation of the tell, I am aware that we are talking about V. That the tape has fractals above and below it is clear. That the logic is Boolean and thus non-probabilistic is likewise clear. How exactly you came to where you are in terms of your appreciation of the market is not something which concerns me and I say that with due deference. It took time for the neuroplasticity heretics to displace the CW arbiters of the brain but displace them they did. So we have a brave new world of neocortical (and other) frontiers opened up to us due to their efforts. But their methods are crude and so we must not become too tightly tethered to what they say because without any doubt there is more and better yet to come. Feynman has said, "There is no harm in doubt and skepticism, for it is through these that new discoveries are made." Although I don't play the bongos, I share his enthusiasm for revelling in our ignorance and then discovering small ways to make it less. lj
A very thoughtful comment. What makes all this so appealing is that that practicing money making in trading is such a rich resource for problem solving anywhere in the world. A lot of people recognize this and are able to use such money as a resource in their diverse choices as where to do problem solving. To me it appears that an ATS is an especially good learning support resource. It is not a crutch by any means; but it is certainly a good tool for making the learning process more effective. Creating the ATS is a beautiful way to instill in the mind the operation of the subject of the ATS. Many feel that creating an ATS or backtesting represents or models the market. My conclusion is that the creation (ATS or backtest) is just a tool that relates to an objective; for me it is extraction of the offer.
Monster day, monster losses. I have to wonder what my losses would be if I hadn't invested 1000s of hours of study. Hmmm.