Snake ear: Thanks for posting the chart. You are now a potential beginner in trading. Orient to this fact. As a potential beginner who has done no work, you need to try to remember that you have no right to criticize any one and especially those who are proven experts. You are getting in your own way with regard to learning. There is an important fact out there in the space: Some people would rather be correct than rich. If you change your viewpoint on this, then begin to take direction and do as you are being told. You may think that I have not answered your questions. All of your questions have already been answered. In NLP there is a thing called chunking and sub chunking with respect to problem solving. Read Tad James to begin to learn how to learn.
I did do a lot of works.You think what took you a half of century could be done for one year,via ET board.Doubt it.No doubt,sure not! You might answer some of the question,but how can one apply the method if it`s incomplete?I didn`t know and don`t know what the 'bookmarks' are.So if i was lack of this very detail,i did a monkey job during all that time,it turned out. So the answer will be,what the bookmarks are and how do you know where nd when to draw it. I don`t want to be right,i want to be reach enough,to give it everything away.
So you blew it and didn't learn anything about annotating correctly. Attached are the annotations and I also added the trades in yellow Each yellow trade makes a lot of money. The ellipses circle the FTT's The is one bookmark that was pierced. At that moment, a biginner does a WASH trade as a reversal. specifically the LONG trade that was under way went from point 1 to 2 and back down to a WASH level at the bookmark. These two moves end the long FTT to FTT trade @ no wijn and no loss. The WASH reversal (long to short) then makes what is possible getting to the new FTT where the trader then goes long after taking the yellow profits. Here is what you are finding out: 1. you are NOT doing as you are told to begin to learn about trading. 2. You have some really bad habits. Correcting all of them at once never happens. 3. You have not done the searching to fing out how to learn to be expert. From now on when you begin a post write out: "thank you, Jack for helping me correct my mistakes, mistake by mistake" This is a lesson in manners.
Let me explain those 53 years a little more precisely. I read one book. I began to trade almost immediately with 300 bucks. I did not have losing trades as I began and I used to have to draw my own charts day after day. focussing on creating the charts is what speeded up my learning mostly. the two of us who worked at this also taught about 20 ther IBM employees to do what we did. Teaching taught us a lot also. Our pencilled charts were done on brownlines so they could be copied as blue prints or other brownlines. All of this happened right from the beginning and all in 1957; there was no learning curve. I was considered an expert in less than four months; MLPF&B coattailed all of my trades, nationally, by that time. They paid fines of six digits for lying to the public.(SEC imposed) I bought my first sports Mercedes in Kopenhagen (a new 1960 model). By that time my salary was smaller than my weekly commissions and fees. I stopped working in 1962 and moved to Greenwich, Conn where I began my sailboat racing career with a Swedish boat I purchased (US122). I moved to Switzerland in time for the 7 days war (1967) Later, I moved to Bucks County PA where I purchased a 1759 pre colonial home. My second child was born there in 1968. The one time I consulted in the finance industry was while in Greenwich and I was paid, portal to portal, in low three digits per hour. I declined a partnership.
Thank you, Jack for helping me correct my mistakes, mistake by mistake! 1. you are NOT doing as you are told to begin to learn about trading. Please remind. 2. You have some really bad habits. Correcting all of them at once never happens. Let`s correct some. 3. You have not done the searching to fing out how to learn to be expert. I did,but it was so messy.Heck knew,what was right what was wrong.Did`n find bookmarks btw! __________________________________________________ Jack,please answer to the attached. p.s. just a little bit,i`ll pick it up this quickly - 1-2-3. Sincerly yours, Snake ..$$ no smilies
Yes i did.I did blew up and i want something middle between PVT and SCT.I found myself doing better in that middle pace.PVT is just to slow and dont have millions to trade it.SCT is just too fast and the high volatility won`t last forever,more so,when the range tightens,it`s gonna be wash trades after wash trades after wash trades, trading SCT.
Thank you for posting another chart. As you said on the chart which is a compromise between PVT and SCT (1440 minutes per bar), there is nothing to do between bars. As you say correctly, you annotate bar by bar and build from the adjacent bars. You correctly show the points 1, 2 and 3 and you built the "environment of price". Anyone can start anywhere and use the annotations as building blocks. When this annotated trend is finished, you do know that because the traverse from the right side to the left side (after point 3) fails(FTT) or the bar pierces the LTL and a VE occurs. An FTT, is the point of the trade. You reverse at that point to take profits and you are then on the correct side of the market moving forward. And as time passes you use adjacent bars to draw the next trend using points 1, 2 and 3. After point 3 you find the FTT and reverse again. At this time, you have three FTT's to work with. They may or may not form a slower fractal. If they DO, then you have seen a slower fractal go to completion and you would expect the beginning of a new slower fractal. In the other case where a slower trend was not shoing, you then know to go through one more faster trend to get the three points to form a slow fractal. All of this is the way in which annotating works as a set of building blocks. currently, we are in a depression in the US. As we passed point 3 we got into the last leg of three legs of this Depression. This last leg will last 10 to 12 years and have four VE's before the FTT of the Depression. As you say the pages we posted over the 6 years are a mess. When we started there were 7 detracting posts for each forwarding post in those original threads. Before then (elsewhere) and at the beginning first years or so we posted prints. We were always accused of photoshopping so we stopped posting prints and sometimes just posted logs written by hand. The logs explained our vocabulary and how the fixed order of events works in successful skilled trading. The logs read from left to right and contain the four parts of the MADA routine. On the very right there is a tab of trades and profits taken. for now, start by trading FTT to FTT only. If there is a VE, then just exit and reenter when the price BO's the RTL you have drawn at the time the VE occured. This means you have a plan and a set of rules that always work while MADA is being done. It is difficult to no longer "bet" and still be using OODA. In time with work, you will believe in the annotations and using the MADA hold/reversal type trading. In terms of profits, apply them at the rate of adding one contract per 30 points of profit whenever that occurs. I would recommend reading nodoji to deal with the fear of adding contracts from profits. Donna could not add contracts after a certain point (in her case it was that she would be earning more money than she needed (6, 000 per month). Increasing the level of fear and anxiety wqas not worth it to her. MADA the routine and the rules above always assure certainty and profits except in one case: a trend failure. That is covered by the wash trade signalled by the piercing of the bookmark. While you cannot find the bookmark, it is there. I explained it to you and annotated your chart to show its usage at each traded FTT. To trade well as a beginner, it is best to trade the middle fractal of three fractals. This is a big step for the beginner. It turns out to be the step required for anyone to be able to switch from paper to real time trading. Everyone has the potential to get to real time trading but most do npt just because they are too busy "inventing" how to trade in a way never seen before. I posted three charts that show the history of trading beginning in 1790. PEP and its applications was made possible just after the "Dow Theory" became known. So I never did any inventing, I just made explicite what is involved when a data supply could be pencilled on a hand made chart. So your learning challenge is to be able to annotate on three concurrent fractals by using the available granularity of the market. You will probably find you can reduce your bar duration from 1440 to 5 minutes fairly soon since you will not want to spent years getting to three concurrent fractals in a Depression that will be having four VE's in that 10 year period. thank you for taking the time to read this. you can correct most of your mistakes as you move forward.