We must walk before we can run. Spyder has laid it out for us. Point 3 to RTL cross. This is the basic trade to build upon. Friday was a bit hard because you would have had to endure some 4-5 point moves against your position before the cross but it did work out. I personally chickened out a bit early but those days are not the norm. I am not going to attempt anything else until I have these down cold.
Thx again. If you remember , my early attempts at annotation you were trying to get me off the leaves. I was too close and wasn't seeing the forest. This stituation you have been kind enough to detail was a specifically volatile and fast period of about 45 minutes. I was in synch up until that time. I had tried to draw in tapes and possible tape lines in real time. I had drawn in a tape where you have put the blue channel. I had also drawn in light grey ( now as a yellow channel where you added yellow points1.2.3 on attached No4 DAX) which put me back in synch for the orange down channel to the left of the chart. In the 45 min of confussion I tried to remember to zoom out. Your blue channel and peach and nkoi drew in a dark blue ( which I don't get for trading at his dark blue point3) but these all remind me of when I was too close on the leaves. Perhaps I get confussed as to what type of market action dictates a tape or a channel. Ok that's all...I'll review everything with pleasure. I don't like being in these market situation if I don't understand how to deal with them... I hope this has or can all serve any readers too. Many thx FilterTip
OP007: thanks for the inspiration. my goal too is to finish the journals. I have been reading feverishly. Back in September, I thought I could do them by December, but I found the material deserve several re-read before moving on to the next stage. Jack said make print outs and punch holes on the right side, so that you can write notes on the next page. That's a great idea. My only wish is I had started this 2 years sooner. But I am grateful I still have a chance to start now. I treasure every post, and read each instruction over and over again, lest I missed something. The moment is now, I have to learn as much as I can while I can.
Nothing to do with 'market action.' Tape = Two Bar Channel Point Three = Three Bars / Points used to create the channel. Bundlemaker's Video explains this nicely. - Spydertrader
Your last sentence is something that a lot of people are now realizing. Most teachers have a common belief that they learned a great deal more when they were doing their first teaching assignments. What makes this so beautiful is how all over the world there are lcoal groups working at it. In the US, it hes been going on for a long time. There are many multigeneration families now. This year is the most important so far. We will get to full SCT this year and the platform needs will also materialize. Years ago, a mention started being made about having a critical mass. It is so clear now that this has happened. It was amazing to see all the conferencing aids come on line and to see meetings conducted and videos taped. 2007 will allow us to complete the resources we have been working on for years. The people parts are the best and it is so good to see how self selection works so well. It may be possible that some people are experiencing just what it is like to help others for the first time. A lot of people are able to recognize the incredibility of what it is like to be a person like spyder. The usual waves of detractors have always been part of the scene and they are very very useful in many ways as we all see. It is not just the humor; there are some many great substantive things provided as well. It is very important for anyone who observed to be able to see how deeply a person can get put in a box that is not the place to be. Many many new markets now support the advances of the corporate model all over the world. It is great to extract from all of these pools. What is even greater is the redistribution of capital out of these pools to places where the capital can serve to deal with so many of the remaining local problems the world faces. There is more to go around than is needed and it is a great idea for as many families to be passing it foward as possible. I noticed that we hit 300 pages too. What an example of sharing to deal with the mutual interest of doing the work to learn. I'm installing the three keyboard trays on my new solid white oak cabinetry this weekend. The trays have side trays for the mice which is nice. It is so refreshing to walk into the office and see the panelling and the arc of the desk in front of the assortment of screens. Rewiring has been fun too. I'm a very happy camper to see all this unfolding and knowing we are on a roll. The pm's from all over the place are such a pleasant verification.
Hi bi9foot. I missed your post, sorry, and felt it was impolite of me not have acknowledged. I was getting a bit confused with that pink channel, thx for your reply. FilterTip
I forgot to add Tums. I believe that reading a manual in how to drive "many" times will not necessarily make you a better driver. In this case, "hands on the wheel" experience is really what is important I believe. As such, you should try to spend as much time as possible doing the drills live and comparing your work to Spyder's at the end of the day. That is what I plan to do. =) jmho.
This is real basic but I thought it might be helpful to those struggling with gaussians and PRV among other things. The attached chart shows how price would typically be acting inside the 5 minute bar. This is more of a mindset issue than a bar chart study. The price is always moving, it doesn't start at the open of the bar and end on the bar's close. We're looking for PRV to be increasing or decreasing during the bar. Accelerating or decelerating. When the bar has a long tail like bar 2 (or spike, hammer, etc), price almost completely retraces the bar - Which half had the increasing/decreasing PRV? You really don't need a finer resolution to see this if you're following the PRV. Since price doesn't stop, we're always either in continuation or change mode. Back and forth, ebb and flow. One side or the other. We're not looking to enter and exit, we're looking for continuation or change. Same with the volume gaussians, rise and fall, ebb and flow . . . Hope this is helpful - EZ
In the spirit of FTTing and Gaussianing, I had a crack at this futures stuff on the SPI (Aussie 200) while working from home today. Below is my annotated chart. All the lines and FTTs were drawn in real time. I've also highlighted where I think I missed them and also called a dodgy FBO. <a href="http://imageshack.us"><img src="http://img95.imageshack.us/img95/9349/spiattempttb9.png" border="0" alt="Image Hosted by ImageShack.us" /></a> The redvol / greenvol numbers in the chart above are simply the sum of volume over the last 10 bars, where C > O or C < O. I coded it as a 'shorthand' to let me easily see what the dominant volume has been over the last 10 bars. Trade history from IB Papertrading account is below. The highlighted trades is where I stuffed up and bought when I should have sold. I coded a 'single shot' buy/sell in Amibroker and pressed the wrong button. From that point on, I left the lot size at 2, since I am more interested in getting in and out at the right point at this stage. If this is standard performance, I'll have to work at home more often! I'll have to do this more often, to see it was a complete fluke or not. <a href="http://imageshack.us"><img src="http://img443.imageshack.us/img443/2158/spi050307tradesgk4.png" border="0" alt="Image Hosted by ImageShack.us" />