Quote from Spydertrader: Can you 'see' the market as it unfolds? Pretty much but still have trouble with flaws like a stall. Where do you see difficulty? ___________________________________________________ I am very pleased with my progress, having learnt the art of drawing channels in the last few weeks with lot of help behind the scenes I am on to my next step. Guassians, finding this concept not too easy but I believe I should pick it up soon. I can see some of the FTTs real time. Thank you Spyder, Jack and everyone. Good trading to all!
I appreciate the contributions made thus far with respect to where everyone find's themselves in terms of progress toward learning the methods discussed. Many have weighed in off thread from both sides of the coin. On one hand, a number of people feel they have progressed far enough to begin to add additional tools. The other side of the argument shows a lot of people still having difficulty with basic concepts. I realize everyone has a strong desire to succeed, as well as, obtain some measure of confidence at their current plateau. As such, I don't want to 'hold back' those who feel they have reached a stage where they feel its time to advance. Nor, do I wish to add another layer of practice for individuals needing additional time at their current skill set. As you can see the choice was a difficult one to make, and one I did not take lightly. My major concern stems from the lack of responses after yesterday's market close. On such an historic day, I thought sure I'd see numerous posts detailing how well people either traded, sim traded, or could 'see' the market as it unfolded (during monitoring). Based on our discussions thus far, everyone (using the Forest Level guidelines only) should have picked up the Point Three short at 10:00 AM Eastern Time (Bar Seven) and held short until 3:00 PM Eastern Time when price finally broke through a right side trend line. That 5 hour trade captured 39 points per contract. Since I did not see any mention of this trade (except in another thread), I wondered if even the people who think they are ready to move forward, really are. A common theme among the feedback received so far pertains to a lack of understanding about Gaussians. Since I haven't placed as much emphasis on gaussians within the thread itself, the responsibility for individuals having some difficulty with Gaussians partly falls on my shoulders. I plan to remedy that situation immediately. After reading through the significant amount of feedback received and reviewing the PM's, IM's, emails and chat logs of discussions surrounding progress made to date, I feel it best to delay adding STR / SQU for another month. I have updated the syllabus accordingly (See Attached). In addition to the YM and ES, we will spend the Month of March focusing on Gaussians and PRV. For those of you who feel you are ready to advance, I do not want you to feel held back in any way. Jack and others have posted about STR / SQU in other threads. However, before you go and add STR / SQU because you think you are ready, I recommend taking a week and proving to yourself by SIM trading at your current skill set. You may be surprised at what you find. For those of you already trading real money, you already know where you need to focus. Also, for those that do fully grasp the current skill set, I would appreciate it (and I am sure those having difficulty would also) if you could take a moment or two and describe how you 'see' things unfold, what drills you used to assist your learning process, how you use PRV and how you use Gaussians (Maybe Bob will even make a Gaussians Video). Again, delaying the introduction of STR / SQU was not a decision I took lightly. However, it is my firm belief that building a strong foundation remains a hallmark of success. As such, I feel I have made the right choice. Good Trading to you all. - Spydertrader <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1378039>
Congrats on making it this far. I suppose now is the appropriate time to present volume 2 of the journal pdf compilation. As usual, please PM me if I missed anything worth including, or if you find any broken links, typos, or formatting errors. I've also reposted the link to the volume 1 pdf in case anyone missed it. January - ES Chart: Price, Volume, Channels, and the FTT February - The YM Leads the ES