Sometimes while I'm doing the exercise I feel like my lack of understanding the volume events and ending events cloud my views and I feel lost in trying to anticipate what may happen in the next bar, which is why I was trying to grasp some of these concepts through writing and hopefully store in LTM by doing the drill you've suggested. Otherwise, I find myself just lost in watching for volume peaks and a reversal, which I end up being wrong about (WWNT?). One question regarding the drill. Do you find there's more value in watching the replay than scrolling through the chart bar by bar as your software do the work with visible bars only anyway? I guess maybe the PRV may be the big piece for that?
Without experience you will see FTTs allover the place. “Another thing to bear in mind is this: Never try to sell at the top. It isn't wise. Sell after a reaction if there is no rally.” Excerpt From: Edwin Lefevre. “Reminiscences of a Stock Operator.” It's means wait for P3. "Got that?" Excerpt From: Edwin Lefevre. “Reminiscences of a Stock Operator.”
No scrolling. For human it's hard to maintain focus more than 45 min. Run one day replay in parts of 45 min with 4x speed. You need see PRV as it's important.
Everyone has own version of JHM in his/her mind. What is "False" for you, does not mean it's "False" for me. How to differentiate "True" from "False" ? It's easy - Whatever works is "True". And "False" what isn't.
So you meant I should wait for R2R2B and take the 2R trade short? or vice versa for long? Don't mess with the first tape after ftt?
One of the beauties of JHPV is the binary aspect. Pass/Fail, Change/No change, Don/Non-Dom, In/Out, Left/Right, Is/Is Not, True/False. As a coder, you know 0/1 is not the same as 1/0, although the meaning of each 0 and 1 remains constant. Carry On!
It's hard to explain. Market has fractal structure. It is not like perfect geometry[channels] or mathematics[gaussians]. 1. Don't focus to place the trades. It's distraction for the beginner. 2. Just watch Price and Volume. Where is Price is going and does Volume support it? Think of WMCN and did it? 3. Overtime you will know what to do. 4. And it has to be in the real time or on true simulator. No hindsight annotations like people posting here "my view of today" - it's useless. It's take minimum 21 days to acquire new habit. Habit to be a winner [to take money from the market] has to replace habit to be a loser [give your money to the market]. Work until that "winner" firmly burn in you mind , otherwise .