aweisen Your charts would be easier to read if you compressed them a bit. I use a 20 pt. range on ES. I think Mak does too.
I haven't looked into IF1-2 yet but I found these notes in a glossary from the MSN site: IF1 says be alert if the price on the current bar passes the prior close going against you (it may come back). Flag is up. IF2 says that when you pass the end of the bar going the wrong way, reverse.
Thru 36... Pretty Ugly on the 5... Glued to the YM!!! CENTERING will precede a sustained VOLUME surge and BO from this zone... MAK!
Agreed - It looks as if we are bumping into the RTL of the IT short... anticipate an eventual break short... carefully consider breaks longs as possible FBOs.
Very good reminders moving around the team today. The volume comments near BO's of lines are very significant. Some cautions that will cause further improvements. Use as much of the price chart as is possible. This means the picture size is the same always and you are seeing the same level of detail no mattr what the market's condition is. Having that, then you focus on two things for the day: Sweeping and annotating as part of monitoring. And doing the four parts of the routine one after another using the mental processes that are involved in each, independantly one after another. You carry the output of one as raw material into the next. Then you operate in that particular mind set. Monitor...analysis...decision making....acting. This is what you achieve by this. You have a routine and it emerges as an excellent trading discipline. Trading does require discipline and there is no way to "make up" discipline by trying harder or anything else. Having a plan does not yield discipline. A plan is a bounded scheme of strategy and tools used based upon knowledge, skills and experience. Discipline is a growth. It is a consequence. The consequence of a routine. As you read the thread today try to see the underpinnings of the routine in effect. It is what brings up the specific comments in the four areas of the routine's sequence. You can see WWT has finally appeared and along side it comes the lack of annotations. when anntations are filled in you get to then focus on the "real' WWT's. There is notice by persons, now, of bar endings. And price carry over bar to bar (and even mention of carry over from day's end to the next open). this is where IF 1 and IF 2 come from. So it is very important, to use words posted today, to use an alternative to being glued to one part of the sweep. I do not believe that sweeping is not being done; the comment is just about where in the successive sweeps most information is located. Animals sense motion and ignore non motion. Humans see the scene byscanning it. We "read" each other in meetings and negotiations by scanning. I teach "fighting fair", for example to couples and families. Interaction analysis is a big topic. Sweeping is a product of comparing how animals and humans sense and then getting humans to be able to focus on movement as do animals. We are not automatically draw to the point of focus as just movement alone. We must be skilled in assessment in the context of consequences of the scene. you will find your emotions ebb and flow as a consequence of "comfort" as defined as "being knowledgeable" of the situation. We put out emotional fires from monitoring by moving OUT of monitoring and INTO analysis where we bring up knowledgable truths to compare against the monitored product data set. A set is compared against a set of truths in a common combination that is part of a sequence. This is where WWT's are discovered and they are not discovered in monitoring. Obviously we have our human monitoring devices in the form of feeling our emotions. you will find that they originate in the monitoring and they are handled in the analysis. It is a very revealing process that allows you to see when you lack truths to manage emotions. You must debrief after market closes and find the truths. This is how the equity curve money velocity is doubled several times. 28 to 30 points are on the table in 34 bars. We move up to that optimum in stages where sets fof truths and their sequences are gelling for us. The point of having sufficient money velocity is reached long before everything falls into place. Here we are letting the oppotunity go to its natural asymptote instead. Ten contracts doing 300 points on 34 bars is way past normal life style needs for a portion of a day's work. Do the anotations. This is a mental process A Do the sweeps. This is a mental process B Take the sweep data set to analysis. This is a mental process C Compare the data with the truths. This is mental processes D and E and F. In other words several things go on in sequence. Decide based upon the result of the comparison. This is process G Act in a timely manner This is process H. There are many many sub processes involved. You are becoming more and more conscious of these. Weekends are for thinking and sleeping and waking up with a new orientation. Your sleeping mind is always reorganizing you for success. Emotions will begin to tell you what you do not know and what the subject is of the emotional elevations. What if you knew exactly how all off the mental processes worked. Then you would find out that each one is different from the others. So then you know to not do hybrids and mixes of various componnets because you get "a committee effort" instead of steller leadership. This is a two element team of you and the market. The market does not negotiate nor do you. You are sharing responsibilities and here we are discussing the value of your carrying out your responsibilities to extracting more capital from the provider (the market) than your lifestyle ever needs. By keeping the mental parts separate and doing them in a routine, you continually iteratively refine what you are doing. Doing things repeatedly and better and better is the name of the game. What gets omitted becomes a limiting condition; a weaker link. We are forging links. Continually forging and strengthening. Yes, you will change your lifestyle and you will participate culturally to make things better. There is no limit on this. And things are gong to be changing more and more rapidly. The World bank just dropped all the debts of developing nations and the muslim world is showing how small loans are made to people to eliminate poverty. Clinton's annual global effort is really catching on. You are at the other extreme, you manage trading to optimize the cash flow out of the leveraged protection system of the financial industry. As the free enterprise system grows more effectiviely in the post debtor nation era; the leveraged protection system will have more pace on average and a greater volatility. The US just became the greatest debtor nation in a global economy that is doing away from this type of global economic sustaining orientation.