JH: I met a person at my first job. He loaned me a copy of the 4th Ed of Magee. I read it. As the first 20 days past, I watched and followed my associate. He was mentoring me in two ways: He provided a book he owned. He position traded. Thus I watched him trade using 6 to 8 day holds and he had a list of stocks he built so he could always be making a position trend segment with a stream of capital. He traded round lots at that time. So I called the broker and mailed 300 dollars to their address. After 20 days I traded the same as he did and I tried to set up an approach to make punched cards to load into a card reder to have a mainframe chart as shown in Magee. I quickly gave up on this since typing into a card punch was slower than making a pencilled line on a blank chart. I designed and inked a vellum master from which I blueprinted brownlines. We kept the last page of the WSJ. I made battens with wingnut screws to keep the pages for back plotting new stocks. My job was to back plot on brown lines and then forward plot daily for all brownlines. Bob and I shared our work. We traded in parallel. In 40 days, I found out I was an innate trader as a consequence of using trend analysis by having a monitoring system. I constructed a 6 month blank chart to be able to position trade. be cause I lived at the YMCA, I worked with members to do maintenance at the summmer camp aall during the off seasons on weekends at the camp. I played cards and we talked. As it turned out, other volunteers decided to begin to trade. They got prints of the brownlines. If they traded an issue, then they kept charting the daily and I gave them blank brownlines to also do additional stocks of interest. I learned more from teaching than just working with Bob. We all contributed some profits to the YMCA camp fund. So we set up a local work site and bought wood, etc to replace the entire waterfront docks, piers and floats. Our common palaver was the markets and how position trading was fun, profitable and helped solve local problems. Today, the approach we used then is knwn as PVT. It grew and grew and now is 5 rules and a one page chart allows a person to use the leading indicator (independent variable) to get the signal to enter, hold and exit the dependent variable. the one page chart has been "verified" by using a 400,000 element sample. No changes were made. I spent 20 minutes having a person type the one pager from my mind. Attached is the one pager. The bottom has 13 bars apportioned as % of the whole day. From that the top came from and Excel. note three coefficients to make the columns trnafer from an original column from the bottom chart. So you do not position trade stocks. You do not pencil in the daily OHLC and volume. Your mind is not built to do TA in any way. Has Covel ever met anyone who is an innate trader? His books explain that he has not. You read my posts. You have memorized how my trading began and that is the basis for calling me a liar and, of course, you misjudged me and Bob, my colleague and mentor. Next I'll post half of a scan of the original chart that years later was printed in batches of 500.
My videos are in different series. Some sets of ten are 2 hours long and some sets are on PC's as camtasias in sets. Most are before Covel's time.
How do you calculate those coefficients?0.25;0.6;1.8 of what?How do you get those figures in the columns?
Bob Prechter once explained that people who make good traders are sometimes ex-Marines. They have the mental toughness needed to go against their emotions and follow orders... Since I fell down the wormhole of making my first option trade several years ago, it's been a journey of many ups & downs, and confusion. I eventually came out the other side after much back, forward and live testing to realize that it's actually extremely simple, and my emotional reactions are the same as all suckerz, which created the confusion in the first place. The trick is to step out of the universe of human interaction and view the living organism of The Market as the superposition it is: anything can happen but what typically occurs is that people over-react and are driven by fear: fear of missing out (greed) and fear of loss (panic). The Market pays the successful trader for helping it make transactions, as this is its purpose. No transactions will occur if buyerz and sellers can't agree. Thankfully, there are resting stop & limit orders for us to view in advance, to give an idea of where the instability and stability will be...... :eek:
Innate traders think up stuff. The generic category is called "Problem Solving". by looking at prior work; the work is tweaked stage by stage. This is called "iterative Refinement". In gliding, sailing, skiing defending goals, etc. participants get better and better at what they do and when they do it. Doing adding nd multiplication gets faster and faster as you do more "problem Solving. In school students do or do not recognize this. You probably use a calculator for multiplication. I do not. I often use the Russian peasant method. There are seven equations for the Selection of the Universe. Those selections are put in order. Trading occurs as the list "peels off" day after day of each weekly effort. Where the numbers come from is my mind. The testing of the numbers is done with samples. Then the numbers remain as before and are not adjusted. To go back a step, the numbers get in my mind as a result of work. In the past, traders worked to obtain information and then made information a fact by using the work to product a result from participating in real situations conditions and and contexts. For example, when the PC was invented it began to be used. All the indicators were invented before the PC. Also, trading and investing acquired a broader and dumber audience. I studied this four hundered year transition and selceted the 100 most influential events. before 1957. After 1957, I did work. My work took information and made facts. 1. My charts changed in the independent variable to only consider oreders of magnitude. 2. from that I determined the trend independent variable portions of a trend: DU. FRV, and Peaking. 3. I made equations for the three based on stupid averages used by the plebians of the FI. The form was A = M B Each portion had its own M. this was a hershey inventing 3M's now known a a knock off of M &M candy from a more original company with signed candy bars. 4. I uses go/nogo evaluations that were leading by hours. 5. Later I turned to the creation of the system of the market's operation by expanding 2, 3, and 4 to include a third market variable. It was completely compatible with the go/nogo. All was faster than the russian peasant method of multiplication. answrs were obvious at a glance. 6. through 13. I had ENLARGED the trend portions from three to eight. I was way past my four part golf swing decision making when golf balls cost a buck and the taxes on the income to buy a golf ball was 9 bucks. 14. DU, FRV, Peaking became a scoring system of 8 digits in base 10 derved from a three place number in base 2. The turn was 0 to 7 for a long and 4 to 3 for a short. "the Pattern" was invented. 15. to 71. I used 1 nd 2 with the math of the system of operation of the market to create all the market's pieces (elements in set theory). these 56 pieces fit into unique subsets and covered all possibilities. So there are no no noise, no flaws nor any anomalies. 72. to 77. SA dictates three subjects: structure, process within the structure and results. This is system with five OOE's where the E's are the 56 peices.. Thus the DEFINITION is a complete whereby the following forms of maths: criteria, filters, functions rulkes strategies, bskets and libraries constitute the sytstem arrangements and objects that accept inputs. A history is recorded and tapablable as apporpopriate. the history is segmented to create the buildiung blocks of the interlocking fractals. the interlocking handles everything by classes. 78 to 82. To do the system of the operation of the market it is require to handle all four types of trends as a facet of analysis in th Present. (Following doesn't work and neglects fifferentiating among trend types). The Modrian type table of 8 panels shows the SET A, B, C, and D types of thrends. A sort on two levels uses the go/nogo rapid analysis as usual (horizontal filter). A vertical filiter sorts the failsafe and routine either/or context. Hence eight colros of panels. trading (see below), the larger more detailed aspect of making money To trade, a trader takes all advantages. Perception is the key when all trading is done with leading indicators of capital in accounts. I have a fully differentiated mind for trading the system of operation of the market. I posted all the parts and elements and the drills to get a fully differentiated mind. People like you are blocked forwever from attaining this status. Neuro biology, etc. explains the way the intellectual growth process works. Since I knew how the mind works and had declined repeatedly to enter the field, I bult the acquisition system according to the least effort possible, the sensing/mind operators: space, shape and the change of shape. Using different colors makes it possible to consider the three color by color and keep the OOE's isolated from each other and this stoppoing mythical interelationships which most see as illuions and not knowing why. This mssaging is similar to separating chldren into two groups like montisorri and non montisorri. No montisorri children are disadvantaged and they do not know it. The simple work drill of daily trading demands logging and annotating according to the system of operation of the market. It is very believable that no one soes it in terms of statisitcal significance. Secondly, it is too late to begin for all those those already headed for the exit of trading. (a monstorous precentage). Watching marketsurfer and magna leave has been fun. Joe left too. acruary did a good exit. He changed his views and then left from his newlt adopted views. Nodoji reached a cool place. She is profitable to the extend she needs to support her life style. Hypostomous is perking along at his small time duration limit using go/nogo. Nitro blew up in a december setting and now is employed by those who need more coding in traditional coding regimes. this is an endless loop like the Murray loop in Futures mag. My perch in the scheme of things is to use events, their order and to always know I know as I observe the near future becoming certain as it comes into the Present where my money making takes place. The Modrain panels give you the correct bapnel to work with. the log and annotating is done by a totally defined routine. A parcel of info has an N-1 event and you know to do the turn when the N event arrives. you know when the lock in occurs on the parcel. You do the reversal to take the profit segment and to be IN THE MARKET ON THE CORRECT SIDE OF THE MARKET. Every day starts with a carry over entry from the prior day. Ever day ends when the margin changes from day margin to nite magin. Hold?reversal is not what most traders do. They do the fear, anxiety, anger trip.
O100: So those numbers are comletely arbitrary,based on nothing?Imaginary.Your the person that buried with the objects.