Yes. Your personal fear is a symptom form your mind that is telling you you do not know what you are doing nor do you know what is going on. The two steps you require are to learn and to learn. You need to do drills to learn. This means learning is a process. Learning creates Long Term Memory. In neurology, what you learn and can use as a LTM is called "inference". The equation is: Perception (100%) = sensing (10% + inference (90%). The drills are simple: 1. Do research 1. It is posted in another thread. Commit to memory the value of the granularity of each variable. 2. Do research 2. It is posted in another thread. Now you have the 10 cases of the RDBMS measurement of price. Price gives you permission to measure the independent variable (volume). Do research 3. It is posted in another thread. Now you have the paradigm for the pattern of the markets and you have the parametric measure (variable velocity). At this point you have laid the mental foundation which creates an organized spectrum in your mind's LTM. From here on you do drills (about five) that completely differentiate this above mentioned spectrum. Here they are: 1. You learn the names of the volume parts. https://www.elitetrader.com/et/posts/3831320 2. You apply (log and annotate the parts using the volume test procedure. See columns two three and four of the above. 3. You find the end of the items 1 and 2 in the three charts of EE's; See all the details here in page 2 of the contest thread: Jack You lost me when going to the google remarks, sorry. On ET, you cannot search for "6 steps"; I did not know about this failing of ET. Here are the 11 attachments: https://www.elitetrader.com/et/posts/3831294 https://www.elitetrader.com/et/posts/3831305 https://www.elitetrader.com/et/posts/3831309 https://www.elitetrader.com/et/posts/3831311 https://www.elitetrader.com/et/posts/3831320 https://www.elitetrader.com/et/posts/3831328 https://www.elitetrader.com/et/posts/3831333 https://www.elitetrader.com/et/posts/3831336 https://www.elitetrader.com/et/posts/3831340 https://www.elitetrader.com/et/posts/3831333 https://www.elitetrader.com/et/posts/3831334 https://www.elitetrader.com/et/posts/3831336 https://www.elitetrader.com/et/posts/3831336 https://www.elitetrader.com/et/posts/3831340 https://www.elitetrader.com/et/posts/3831347 the 6 steps shows where to use the other attachments to learn the complete system of the market operation.
The above post is a complete set of drills. Our new trading room is now acpable of using all of these. the room has had about five meetings. On Thursday they move to my office to observe my trading of 11 accounts. simultaneously using a MAT system. MAT means Managed Accounts Trading. Price cases give "permission" volume testing leads trading reversals. It is all just using look up tables with which you are familiar. 10 price ceases. 7 of 11 volume elements. 35 End Effects all sorted into BANDS. A succession of bands Using the EE's to ID turn type in an order of turns in four types of trends. Lastly, you know you know one turn before the final turn. The final turns are on 8 panels. They are in rightmost columns whereby the next to last turn is in a leftmost column. An absence of representation indicates with 100% certainty, that the trend will continue. Making money takes care of itself. I posted last Friday's trades and reversals. Capital was doubled in one day. QED. A person must work doing drills to build his mind. Donna has described the perfect CW approach to trading. She is so good most of you think she is a guy.
final note. most people have cluttered minds. This means the inference that is there cannot be erased and therefore the mind can not longer be built into a spectrum. That is just how it is. This is the reason most traders fail. If you name what I type gibberish you passed the test for a cluttered mind. That is just how it is for you: Too late.
it is a drill after you enter trade. helps you decide whether to press (double) or scratch. This is how I use it at least. I was kind of doing this before so just made it clearer in my mind. probably you have to be on specific level to get it. It helps in reducing number of losers. Wouldn't know the wording, sorry.
It's too late. Bar by bar trading will infiltrate every thread. Look at the two top nightly threads. Best traders & no edges. Guess who is in them: All price action and nekked charts. Failing? Not working hard enough on that 1min! The newbies have a long road and they better grab their magnifying glasses. There used to be active threads with various methods discussed. Now cobwebs in the ACD thread. Folks scoff at combines & showing 'proof' that one is successful at implementing their edge. I agree. However...gurus/mentors that are getting regularly endorsed by anonymous users on a trading forum...Caveat emptor...I am skeptical. And apparently pure PA cannot even be automated (questionable, we programmer's know if you can describe the process you can code the process and back-test it). Where are the stats for these systems running live? PF, Distribution of Returns, what is the average trade, what are your winning sizes and losing sizes. Why do the gurus not share how they measure their performance? What is their return on risk? Where are their credentials? Anyone who advertises themselves as a mentor - you know who you are - it would seem a natural step to share trading performance to some extent, at some level. Even if it is not on this site. But back to the topic of association. I tell you PA is going for world domination, they are no longer the 'funny' threads from years ago.
As a programmer who used to backtest, when did you find out that backtesting did not work? What was the main reason(s) you discovered? In your post you do NOT ask for our backtesting results (you know we do not do it); instead you turn to forward testing in the form of performance results. do you recommend a format that we could use to convey your desires to you? I notice that no one (ET members who post a lot) can even read my prints. PA came into the picture as PC's became capable of handling more degrees of freedom. do you recognize how the non PA "new" standard of taking the full offer of the market is going to become more suitable simply because it is 100% programable right out of the gate. My RDBMS oriented trading is entirely programmable. There is no way it can be backtested either.
Hi Jack, The answer is simple, anyone who sticks around here for a while realizes that there is no proof anywhere that you ever successfully traded in public. I believe someone posted a while back they you joined some trading contest 6-7 years ago and withdrew after 20% loss or something like this. I respect yours and Spyder's dedication, however a live demonstration would dot Is and cross Ts. One needs 1 year at a minimum to learn SCT for example. Anyway, you obviously do not owe anything to anyone. Regards, redduke
Thank you my friend for sharing this link. Sometimes, one needs to be reminded over and over that the only moment is now. Carpe Diem!