Observations (an example)

Discussion in 'Journals' started by fortydraws, Jan 13, 2015.

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  1. fortydraws

    fortydraws

    I have seen many people open journals here at ET, ostensibly to track their progress in the observation phase of learning to trade based upon price and how it behaves. While I did not journal publically, I too kept a journal, as recommended by DbPhoenix in his Straight Line Approach threads, of my observations when I first started to learn how to read price. I found it to be the most fruitful study of my adult life, and what I am going to do here is I will post about 25 charts screen captures that I made since late morning today, January 13, 2015.

    While making these observations, note that I was not looking for trade or entering and trying to manage trades. The purpose of the observation period is not going to be fulfilled if you approach it using "long" and "short" as your organizing vocabulary.

    I will try to post these charts as quickly as I can. I hope that anyone who wishes to comment please refrain from doing so until I have the charts posted. I am doing this to provide an example of what I understood the observation process to mean. All the comments made on these charts were made in the moments after I took the screen capture.

    Also, I do not mean to imply that this is the only way to undertake this process. I do, however, know it to be an effective one, as it is the one I used myself, and I modeled it as much as possible on my understanding of what DbPhoenix suggests is the purpose of the journal. Any error in that understanding is my own fault, not that of DbPhoenix. I did these this morning with a friend of mine who is interested in possibly learning to trade, and I am sharing them here as a way of paying forward the help I received from DbPhoenix and his SLA/AMT threads.

    Also, as I did these comments quickly, there will no doubt be spelling errors and typos.

    I will start with the first chart here. The others will quickly follow. Journal 1.JPG
     
  2. fortydraws

    fortydraws

    Journal 2.JPG
     
  3. fortydraws

    fortydraws

    Journal 3.JPG
     
  4. fortydraws

    fortydraws

    Journal 4.JPG
     
  5. fortydraws

    fortydraws

    Journal 5.JPG
     
  6. fortydraws

    fortydraws

    Journal 6.JPG
     
  7. fortydraws

    fortydraws

    Journal 7.JPG
     
  8. fortydraws

    fortydraws

    Journal 8.JPG
     
  9. fortydraws

    fortydraws

    Journal 9.JPG
     
  10. fortydraws

    fortydraws

    Should say "price is now ..."

    Journal 10.JPG
     
    #10     Jan 13, 2015
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