I often keep the original channel like you have and then keep drawing a second, steeper channel as I am able to using thinner lines. This modification would probably help you to catch those FTTs better.
Each and every ES chart I post contains annotations for flaws. One could, with a little effort, compile all the charts, review each flaw annotated, and note the similarities and differences on a piece of paper. By 'seeing' these similarities and differences for yourself, your brain develops the ability to differentiate flaws in real time. Following this course of study, rather than memorizing my descriptions, works better in the long run it turns out. That way, when I do review the flaws at a later date, everything falls right into place for you mentally. Uncanny, how it almost seems I planned it that way. In addition, one can locate brief reviews of flaw descriptions (on the coarse level) throughout the Journal, and it posted (or linked) discussions from the ET Chat Room. - Spydertrader
ES 15 June 2007 Today was truly uncanny. For the first time, I could see the market unfolding, often several bars ahead. Not once, but continuously. The "aha" seems to have come about from several factors. Firstly, starting to recognize flaws, and in particular those on non dom traverses - which we all know are really new dom traverses. Lo and behold - change! I was seeing change before the ftt even appeared. It was spooky. I have a tendency to enter frequently on the non dom traverse of a non dom traverse, in other words, the retrace of a retrace, trying to catch the resumption of the dominant direction. By recognising flaws during non dominant traverses for what they really are i.e. change, I avoided this today. Secondly, taking on board the fact that we are unlikely to see an FTT before we have had flaws and/or VE. Result - fewer misidentified FTTs. Lastly, the identification of odd and even harmonics. I have used two bar DB/DTs, spikes and laterals before, but not like this. When looked at in the context of channels, flaws, continuation and change, they are very powerful. With many years of trading experience, it is frustrating to see poor results day after day, even on a sim. What became clear today was that until the tools are being used properly, it is not even sensible to use a sim. I know that Spyder told us this on page 1. I thought a month of monitoring was enough. It wasn't. I take this opportunity to publicly thank Spyder for his patience and hard work. David
I've known about flaws for several years. I've read and studied Jack's descriptions and Spyder's descriptions numerous times. Nice intellectual pursuit. Did nothing for my trading. Once I started forcing myself to consider flaws in real time, make myself call out flaws and/or ftt's AND be ok with being wrong AND then sorting out where I went right and where I went wrong THEN low and behold things started falling into place. Flaws, I believe will end up being as important (if not most important)a feature of this philosophy as any other component, but I also believe it is the aspect least able to be mechanically explained or understood. I am beginning to notice my unconscious KNOWING what is a flaw and what is not. It's sort of discomforting, but it's very cool too.
Congratulations David, I know how many years you've been in frustration mode. My apologies for stealing some of your thunder, but I'd like to say that the last few days have been starting to be like what you described. The effort and patience that Spyder puts out is almost inhuman. The man is a trading/teaching machine. Fort those of you struggling but willing to work at it, keep it up. I've bet my future (literally) on this working for me. I've burned all the bridges, this is it.