Bob, I don't believe there is a strict rule for increased volume at P3, after a while you start anticipating/recognizing it. I look for that pattern I posted earlier for high of the day. I pointed this out to TUMS some weeks ago. Thank you for helping me behind the scenes. Good trading to all
FWIW, when I make that statement I am looking at my charts, not spyder's. Note the arrows on my most recent chart for instance. Like DKM says, it ALWAYS occurs coming away from the PT3, but as the geometry of the bars works out that isn't always on the EXACT BAR of the PT3.
I'd like to point something else out to the group, as Spyder brought it up in one of his posts in reply to me this evening. I had never intended on saying this publicly, but his suggestion that I saw live in Tucson somthing akin to what I feel is necessary is just plane false. While in Tucson, not once was any trading ever done. Spyder or Jack would just say aloud what they saw. But no decision points were EVER logged that I could see. And when something actionable occurred, no real followthrough happened on the analysis. If you listen to the video, you'd quickly realize why I've been almost begging for some demonstration, because I've still yet to see how this works. Brain surgeons do not learn this way. Attorneys don't. Sales people don't. Landscapers don't. Engineers don't. Shall I go on? Are you really telling us Spyder that out of all the professions and crafts of the world, that trading is the one thing that learning by example and demonstration in real time is the exception? If you had just said upfront, "hey guys, here's the info, make of it what you can, I'll try and respond when I can" that would have been very, very different indeed. BUt no, you posed as someone who made an agreement to pass on the information. YOu created a formal syllabus. You spent a TON of time with me and others on a personal basis. You set it up so we expected a lot out of you. And now, some of us are so hungry, in no small part, because you have told us how great this can be. But you've never shown us. I'm not one of those trolls who goes around trying to disprove anything. I have never been mean spirited (maybe a bit confrontational, but never with malice). I admit I have many flaws. On the other hand, I'm wondering how successful you feel this whole project will have been if so many, who have struggled so hard (you told me I have worked harder at this than anyone you know) still can't get it, and you're still unwilling to show how it's done (show, not explain). Many have privately asked about my experience in Tucson. I always had good things to say, but was also uncomfortable when asked about actual trading or real time analysis. Well, it looks like my days with Spyder are numbered, so I may as well tell the world, nothing remotely like what a person would need to do to trade was ever done in my presense. If you don't believe me, maybe ProCrast can post the Monday morning video which ostensibly was going to be "live trading". Over the past few weeks I've used the word contradiction. I apologize for using a word I never intened to. YOu may not believe this, but I have some significant health issues that does effect my level of concentration, among other things. You immediatley assumed I was ignoring you. Well, your wrong. The word I wanted was congruency, or rather, incongruency. No matter what you say, much of it comes to me as incongruent. Not right or wrong, incongruent. Not good or bad, open or hiding, plus or minus, incongruent. And it's damn hard to learn from incongruency. As stuck as you suggest I am, I think your just as stuck in the way you're approaching teaching this.
when a bar made a Hi/Lo and then retreat, I see the Gaussian with the volume bar split, having a portion of it as Red, and a portion of it as Black. The market is in fluid motion; it does not know we use a rigid 5 min chart. <img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=1610444"> Pr0 taught me this. I think he said it was Mak who taught him.
I'm sorry but I had to comment on this statement. I think this is your main issue. There is NO way that you, me, or anyone else can copy how sypdertrader, mak, or anyone else trades. ST has given us all the "tools" that we need to trade the ES successfully (and I am). The answers you seek will not come from the thread, because people "see" things differently. Honestly, I think you do understand enough about the method to have a few good trades a day. But you need to answer all this questions that you are asking yourself. You say you want to focus on pt. 3's only. Ok good idea, now you have months and months of ES data to review pt 3's. Ask yourself why did this pt. 3 work? What was volume/price doing at the time? What time of day was it? etc... And then why did this pt. 3 not work? Review set ups and their characteristics. You will be amazed what past charts tell you. I must spend 3hrs after the mkt closes reviewing charts not only for that day, but old charts. Be orignal and find your own path to success, I think you'll be surprise that you have it in you. Good luck!
Watching Spyder trade might give you some confidence in the method itself but I doubt very seriously it would help your trading. I have watched a couple of very good traders doing their thing and though I had an idea of what it was they were doing they were operating on "sports memory" and there was no way they could convey to me in realtime everything they were taking in. After the fact they would say, "I did this because I saw that etc" which is not one whit different than getting the info here.
I one thought you can somehow find the way to bridge your numeric (MP) trading skill over to visual (channel) trading skill. But from what I have just read it seems no longer possible. I will PM you other resource that is more closely matching your MP skill.
Because I have answered how to view increasing volume across an entire channel when looking at dominant traverses numerous times. For a guy who claims to do so much research, I cannot fathom how you could have missed it. Newsflash for you. Other people get this. Stop blaming the professor or the material and start doing what others have done and what they have advised you to do. If you do not like the class, feel free to change professors. All this stuff has been covered before by both Mak and Jack. feel free to review their posts. I have provided nothing new. I simply translated some things others found confusing. Perhaps, someone will come along later and translate that which you find confusing. - Spydertrader
Yeah, I think the people who will have the MOST success with this method are going to be the ones who INTERNALIZE the concepts and then figure out how to make them WORK specifically for THEM. Spy took Jack's stuff and made it his own. It's basically the same stuff, but through an entirely different lens. Also look at Mak's outlook. None of these people are trying to mimic each other exactly, so why should you try to mimic them, other than just for the sake of learning the concepts? That was a big realization for me some months ago. It might also be why Spy seems reluctant to post a "recipe for success" or a detailed series of execution videos and focuses a lot on the logical processes instead.