Perhaps it is because those who have invested the time and effort to methodically learn the method from page one along with the invaluable tutelage of Spyder; simply do not see the value in doing so.
I've been studying the 7-2-08 morning more closely to see how I might have traded it given my current level of understanding. I numbered the relevant bars in the attached chart. Bar 4: Enter short due to LM FBO on IBV Bar 6: Hold short even though it's an OB, because it FBOs the upper end of LM. Bar 14: From Bar 6 to now there haven't been any signals to reverse long. But I'll assume that I was mistakenly anticipating an up Channel to develop based on the fact that we already had the blue CO Traverse. Bar 14 shows Extreme IRV with a close off the low in LM. I might have mistakenly drawn a down Traverse with an FT3 on Bar 14 and thought, here we go for the third leg of our up Channel. Bar 17: We got 3 bars of DBV to get us up to the same level as the high of the day established earlier, and Bar 17 shows an IBGS on DBV. Red is clearly dominant and WMCN for an up Channel did not. Therefore, we have a clear signal to reverse short to get back on the right side of the market. So I reverse short and profit from my mistaken long reversal on Bar 14 ("First by accident, then by design," to quote our mentor). Now that we know that down is the dominant direction, it becomes easy to hold for a nice, long run. When I have some time later on, I plan to study on whether one could have held through the non-dominant up Traverse that formed the second leg of the Channel. If so, then one could have held short all the way from Bar 17 to Bar 78, EOD. Which brings up a 3rd area of weakness for me: knowing when to hold through a non-dominant Traverse and when to reverse into it.
Quick question about Spydertrader's price bar coloring - what are they based on? I'm playing catch up and only about half way through the futures journal so forgive me if it has already been covered....
Thanks for the virgin daily chart Ehorn. I have done the same chart over, and over one bar at a time, and even with the future printed right there in front of me, I still annotate traverses that aren't. Now though, I can identify when I am learning incorrectly. This is of tremendous value. I said 100 reps? HA! per chart maybe!
Coloring of Price bars is reflective of their behavior in relation to the previous bar as opposed to their own close. Exceptions to this are Outside bars. For example, a bar that has a LL than the previous bar will be red unless it also creates a HH (Outside bar) with a close above its open. In the latter case, the bar in this example would be black. Inside bars are colored according to the close in relation to their open. -guava
Actually the bar coloring is still confusing me. On Spyder's chart, why is bar 5 red? Or why is bar 18 black? and that is just a few examples. It doesn't seem to be based on C-1 to C, or O to C or inside/outside bars.
Bar 5 was an inside bar so it's color depended in it's close in relation to it's open. Bar 18 (11:00 on Spyder's chart) made a LL without also creating an Outside bar, so it is red not black.
I know of at least 8 people who has developed some sort of auto/semi-auto trendlines as well as labelling on various platforms. Some of the codes are already posted. Another person offered that anybody who wants his source code to send him a request via PM. p.s. I have not sent him a request.