Iterative Refinement

Discussion in 'Journals' started by Spydertrader, Jan 3, 2008.

  1. I'm not sure that's possible but I'll do what I can to address your questions.

    Sounds good. Go for it.

    It doesn't make reference to any bars. It refers to the periods prior to and following the entry.

    It's a wash drill. You hold until you can wash. The trade might go 10 points in the green before it comes back and you can wash. Be patient and remember to take a tick or two as part of the wash.

    Occasionally you will wait the entire day without a wash. Just bank the profits at end of day then and count it as a wash and tell yourself you'll get some good washes the next day. If you bank 20 points or more, count it as two washes.

    I don't know. You can probably find a lot to consider if you think about them enough. I haven't done that. I recommend starting out with p3 entries.

    There's nothing special about an entry for a wash. I recommend starting with entry at p3's. If YM helps you pull the trigger, by all means use it.

    I merely provided general advice to a person who asked me about doing wash drills. Nothing more.

    All the best.
     
    #6891     Aug 15, 2008
  2. How does this look ?

    Any feedback welcome.
     
    #6892     Aug 15, 2008
  3. Edit to last post.

    Red arrow down added for dominant direction, not intended to show a target.
     
    #6893     Aug 15, 2008
  4. Thank you, icarus618!
    As always your insight is greatly appreciated.:)
     
    #6894     Aug 15, 2008
  5. My apologies on daily chart.
    The daily bar from yesterday is missing. When I refreshed, it popped up but I already posted.
    Yesterday the daily bar was increasing price decreasing volume, and today gave more increasing price and decreased volume.
    This does not change the annotated red down tape started on 8/11.
    Signal of change still in effect.
     
    #6895     Aug 15, 2008
  6. Thank you, Aurum! I did not mean to give a wrong impression of sounding frustrated.
    :D Seeing the expressions such as: "trading for real", "while learning", "grow the account a little" and "entering at p3", which are also known to appear in the same context as "bread and butter trades", made my heart beat faster causing a temporary overflow of blood to my brain.
    Following the responses from you and Icarus, the clarity has been restored and the reality of "your mileage may vary", (which I came to appreciate as :D successful application requires individual's qualities, that are beyond of the scope of current discussion) still applies.

    Thank you for responding.
     
    #6896     Aug 15, 2008
  7. Here is what happens when things get clear and a better understanding.

    This is just some part time hours over the last week while I found some time to trade.

    Commissions had totaled Around $60.00
    This is gross before deductions.
    Mr_Black is always so generous to share, so this is a little look at past week.
     
    #6897     Aug 16, 2008
  8. Aurum

    Aurum

    No problem - sorry for misinterpreting part of your post!

    -Au
     
    #6898     Aug 16, 2008
  9. Here is a look at 3 trades I did on the 8th.

    * First trade - A loss of 1 point.

    * Second trade - break even wash.

    * Third trade - 4 point profit.

    This is a clip from my statement.

    A look at mistakes and profit. Even with mistakes a nice profit made.
     
    #6899     Aug 16, 2008
  10. Thanks MR_Black.

    This is really good stuff.
     
    #6900     Aug 16, 2008