I don't think it's important. It keeps the deadbeats, naysayers, and lazy people away that don't want to put in the work and energy to see if it works for themselves. It's a natural filter.
For you and the likes, this is utter nonsense. This entire journal is FREE. No one is obliged to make demands of any sort. It's a two way street here. For those that understand, it is a reinforcer. For those who don't, it is something to contemplate and sort for themselves. Live trading, videos, it's all nonsense. There are more than just a few of those laying around. The typical result is that there is no "real" benefit, just more examples. If there is benefit, it is to those who already know. For example, the fan who sits courtside and the basketball player who sits courtside watches the same game and sees two different things. To the fan, it all looks amazing and impossible. To the basketball player sitting courtside watching the game, he may see new things and various plays that will look amazing to him but not impossible. The player picks up a pointer or two and then works on applying the move. The fan watches dumbfounded as the point guard blows by the defender. What you and redduke believe as confidence booster will be a real let down. You will watch and question why actions were taken that you would have not already have taken and then start second guessing whether what you know is even in the correct ball park. The result is the opposite of a confidence boost. How do I know this, because we have seen this time and time again... Ooooo, ahhh, wow, whoa, damn, @#$!, now what am I supposed to do??? Why didn't you do x? Where was z? But what about? WHat if? WTF???!
Let's put ourselves in Spydertrader's shoes for a moment. Did he see anyone trade live, or a video, before or during the same journey we are on? If the answer is no, then why must anyone else? If the answer is yes, then did it futher him along or possibly slow him down? -Mike
I do not use this method. I trade differently. I have learned a lot of very useful info on this thread and incorratred some of it into my entries which made them more presise. To be specific Spyder's discussions of DOM. I will follow the thread ragardless.
Yeah wel... You knew what price did and found the reasons why it did what it did afterwards. There are always some data elements that can be found to support your thoughts, no matter what they are. So that seems logical in hindsight but where's the limit? How many bars do you wait? Two bars, three bars, 4 bars... too late. Besides, there are enough examples of RTL actually closing on different sides of RTL. regards, Ivo
Ah Ha! The point is made. People will use this in their own way. Watching a video would not add much more understanding than one already has.
I haven't quit, just got real quiet and focused. I can't say that my efforts are producing progress or not. But, upon reading this in reply to a bunch of people wanting to see r/t trading I just couldn't help myself. Mak, I can send you several dozen pm's/emails elicited from the production of the channels video. There are a number of folks here, who have told me point blank, that they would have never got it without that video. I don't recall what I asked for exactly, but my intent was not that I wanted to see live trading. I wanted to see live thought process. I could care less where or when you or Spyder click to transmit. I do care, a ton, about when in a bar YOU see it as it being something in particular. I do care a ton when YOU don't get shook up by a rtl break of 2 ticks and you hold. I think you get the idea. Spyder has done a stellar job of teaching what is teachable through this medium. But that leaves lots of holes. Not to him perhaps, but to many of us that aren't sure about lots of stuff, there are holes. Spyder, your friend and a member of the Tucson group, specifically told me that if it weren't for the opportunity to be able to have some time to sit right next to you he wouldn't be where he's at. Now, we can't all do that. A surrogate would be someone who can teach and produce the correct high quality aids based on some time with you. I don't blame you one bit for not doing that. I'm happy to get what I get. My frustration may cover over those facts sometimes. I'm still trying and will. But it's a shame I have to be guessing about a lot of stuff. Mak says we have to figure it out on our own. I'm all for that, but if a person is not seeing results, doing 75% correct, how the hell does that person know what he's doing right and what he's doing wrong. It's not always obvious. I have (earlier this year) stop doing something that was correct because I couldn't figure out for sure if it was. Only after a lot of time with you did I realize I was changing what was working and missed out on changing what wasn't working. We can't all be Mak and you, figuring this stuff out on our own. Right now, I have to just guess to fill in the holes and hope I'm not taking 4 or 5 steps backward.
Spyder, It is obviously not a must. You can do it or not do it, it is up to you. My suggestion is that you should. You and Jack mastered this method and spend God knows how much time explaining it, but the human nature is that unless you see something with your own eyes the confidence will not be there. Others might claim it different but it is true. Like I said before, a master always shows his disciples what can be achieved by his own example. One of the reason why Richard Dennis and William Eckhard turtle experiment was so successful is because the master showed the student that he can do it himself. Basically turning several thousands into few hundred millions. This gave turtles confidence in the method, even though they were as much confident in themselves. The draw downs they experienced were nothing short of amazing, but Dennis own example gave them confidence to withstand them. This is why I said the live trading should be done. It will give a huge boost to many otherwise there is always going to be a shadow of doubt. I will not post anything on live trading until the end of the year. Letâs all wait and see. Thanks, redduke
The point I was trying to make is that if you are having any issues with intra-bar analysis, just wait until the bar closes before you make a decision. At least do it for your entries, exit's you can be more hawkish