You can only trade when you see the structure clearly. When you lost you wait for the road signs, better safe than sorry. There is no shame in admitting you are lost.
here is some trades from yesterday... this is not SCT .... the trades are entry / exit type with 2 point stop .... basically I am using SCT context to find good entry spots and scalp a few ticks out...
I have been following Spydertrader's threads from about October 2006. My overall trading has greatly improved as a result of Spyder's work. I did not participate much because I used the methodology to trade the Kuwaiti stock market. There are many threads on ET with great traders, lecturers, and trading trainers. There also many books and seminars out there that teach technical analysis, fundamental analysis, as well as quantitative analysis. What I like most about Spyder's threads and system is that you get to see him evolve from a novice trader that needs help in drawing channels to a trading expert that understands the market and helps people along the way to become better traders. I especially enjoyed "Spydertrader's Jack Hershey Future Trading Journal" where I was given a chance to attend a one year training on trading for free. My overall yearly earnings have improved from following Spyder's work in ET. Fahad
I'd like to propose a drill for the purposes of avoiding jumping fractals. I believe that correct annotation of gaussians (using different thickness to reflect different fractals as proposed by Spydertrader's convention) in the attached, beginning with 12:15 bar should show what must come next.
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2459043> This shit looks like R2R to me - if I don't see decreasing black gaussianfollowed by increasing red gaussia and signal for change - I am gonna call nkhoi and tell him what a freaking lair he is.
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2459052> Nah... just got lucky - there's no freaking way we gonna see B2B here.