Guava: on your chart you said the 15:40 bar, which exited the Dip, "can't be an FTT if it is part of the Dip formation". For clarification (yours and mine ), I don't think the bar exiting a Dip is precluded from becoming an FTT by definition, if this is what you were implying in the above statement. In this case it couldn't be an FTT because it was followed by a stall, not due to the flaw that precceded it.
Looking back at this now, this morning, it seems to be clearer. Funny how sometimes I struggle to see something, step away from the screen, then come back the next day and it is so obvious. I was trying to see something that just wasn't there. I am now looking at it and saying to myself, what was I thinking ? It was just a stall and I made something of it that it just was not. Sometimes when I put something down and walk away for a little while and come back to it, everything is so much clearer.
Spy, I know you're traveling but FWIW the ES volume looks low overall, and the early AM looks way off.
Here's my first post of my efforts at ES annotations from opening to 10:55 am today. I only have in my tool kit for use and practice right now the initial tools of trying to determine channels (mark points 1, 2 and 3), looking for and marking FTT's, FBO's and BO's. I am not beyond that point yet although I read and look forward to catching up to things like HVS, DIPS, etc. So my chart is absent any such things as I'm not at that stage yet. I am also trying to determine and draw in the volume gaussians. I find that a bit more difficult however after having seen and heard the video on them, the logic and how they should correlate with channel markings I find that I'm not so much in the dark as I was. I do find difficulty knowing at what level I should be drawing volume gaus. detail. Sometimes I think I'm too low a level and getting confused and maybe missing the forest. But trying to line them up with the channels and what's happening above does help provide a little bit of help. Please - I welcome and would appreciate any feedback. Thank you, - David I btw - I will confess to having done the wrong thing and took a trade on the ES long at 10:43:39 to 10:52:02 for 2 points because my annotating and what I've been learning told me to look for a bounce off the RTL using volume and price direction as a guide for either successful bounce or change in price direction and volume for a BO. I learned that I became much more focused on looking at these possibilities and the signs I might see to indicate what what going on and I was less focused on the pure annotation exercise I had been doing up to the point of taking the trade. I am happy to have seen the outcome positive and that what I was looking for (learned) seemed to work but I am a little disappointed in myself for taking my eye of the mark of looking for FTT's and trying to learn how to profit from the eventual use of FTT's since this trade was really a bounce off the RTL. The 3 heliotrope short horizontal dashes represent my entry, initial stop and exit on the trade. Thoughts? Thanks again. btw - I greyed out the area where I no longer was annontating. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1529254>
He probably was on one server when he annotated earlier in the day, then later when signed back into Qcharts was on a different one which had much lower volume. This is one of the faults of QCharts, ES volume is different on each server. -Mike
Hello all, I am new to the Journal and am starting to read and get up to speed on the methods and practice. How is trading going today? Or is that a dumb question? Steve
I encourage you to remain focused on your education with respect to these methods, rather than, spend time asking questions to individuals who's answers have no impact on your current status, about topics which have no bearing on your current goal (to learn). In other words, all possible answers to your question fail to move you closer to your objective - accurately and quickly learning the lessons outlined in the syllabus. Crawl, Walk, Run then Fly. - Spydertrader
Thanks Spydertrader for your reply, I'm at crawl right now, no doubt, where can I find the lessons and the syllabus to begin my journey?