I also avoid the 11:00 to 14:00 area like the plague. I just don't have the ability yet to recognize change fast enough to trade these areas. granted, an arbitrary rule set, but one that works for me. Also, think of the posts made about most days looking like "W" or "M". Which leg were we in at 14:40? I understand the"low volume" reference also. Today, while volume was high during the mid-day, it was waaaay less than the am and pm. Again, for me, and using an arbitrary rule set, it works. FWIW, I SIM trade these times and get chopped up something fierce. Why push it?
You're not even remotely getting what I'm saying. I was given three, specific, guidellines to help me in my trading. In this case, one of those guidelines applied. And this person, unlike you, who merely criticise, attempted to help me. This is no more arbitrary than any other rule. This person makes money, has found this works best for him, and I't's all I've got right now.
Bundle, This is a fantastic, crystal clear example of you taking great advice and misusing or misinterpreting it. The idea of a forest trader avoiding trades when volume isn't there, which typically happens in the middle of the day, is solid advice. Even jack says beginners should avoid trades if 10k+ prv isn't there. However, that doesn't mean that every PT3 in the middle of the day occurs on low volume or should be avoided - that was a jump that YOU made in your mind. The 1450 PT3 had like 50k volume, which should have allowed you to bypass your "guideline." There was even a beautiful FTP that would have given you a pretty sweet entry into the next traverse. Choosing to take lunch off because the probability of volume being low = significant is a fine strategy - everyone has to eat lunch, might as well eat it then. But if you are at the computer, avoiding a trade w/ 50k volume simply b/c of the time of day doesn't make much sense. You already know this now, because someone else has brought it to your attention... but I thought I'd suggest the possibility that maybe this is what happens with some of the other advice that is given to you as well.
I am 100% convinced now that Spydertrader has you pegged right. For awhile, I did think that you were just being sincere and trying to learn but its obvious now you either dont want to hear things that go against your current view or you filter things out that you dont understand and then they go by the way side. Either way, its impossible to get through to you. You think I merely criticize?? May I point you to a post I sent to you this very day a few pages back where I tried to HELP you see what you were missing (2nd post down). http://www.elitetrader.com/vb/showthread.php?s=&threadid=83604&perpage=6&pagenumber=1139 Geeez Bob, I dont feel sorry for you one bit anymore.
Pro, I know you posted this with the best of intentions, but you aren't getting it either. I'm not talking middle of day (as in lunch) I'm talking middle of range. Over the past month, I've contacted a number of people who seemed to be doing well. I was shocked with the replies. It was just a few people. But either they said they found their old methods worked better or (and this is what my point is) they started combining their own stuff. Spyder has agreed with this in the thread several times. So, I have tried to put together Market Profile (which is an area that I do know much) with Jacks stuff. In MP, taking an entry in what could be construed as a value area ain't what you want to do. It's anything but arbitrary. I'm being as logical and reasonable as I know how. If 3 people tell me it works better adding their own stuff (and the thread owner responds by blaming me for being an idiot) what do you propose I do. Doesn't it make sense to at least try my own recipe. I ain't gettin anywhere here.
My apologies, I did sort of miss your point...maybe? Does this imply that the guideline is to avoid low volume periods, which tend to be the middle of the range, or does it suggest to avoid the middle of the range because that tends to be low volume?
????????????????? I've stated, againa and again and again, that I have no problem seeing this stuff end of day. Seeing it as it shapes up is something altogether different. Just because you made a suggestion the other day has NOTHING to do with what is being chatted about here. And lets not get too far off the farm like I let previous conversations get. The bottom line is I'm accused of not following directions! Where are the f'n!!!!! directions? There are none! I posted the document with everything SPyder had to say on flaws and laterals. NO WHERE in that document does it say laterals take precedence over channel gaussians. AND we've all been told to monitor volume ACROSS THE WHOLE CHANNEL! Yeah, I'm yellling. Good and loud. If you recall, I've pointed out other occaisions when SPyder mispoke. I supplied the proof. I could do that with point after point.
No apologies necessary. You are one of a handful of people who have ALWAYs been pleasant and helpful. There were three different guidelines (or rules if you wish) that were suggested to me. One of those was avoid the middle of the range. When that was suggested, it immediately made sense based on my knowledge of MP. Avoiding trades during periods of low volume is a separate guideline or rule as layed out in this thread. As I don't anticapate a real answer from SPyder, can anyone else make a cogent argument, one way or the other, as to my previous question? (that is, do we now place more emphasis on the formations and ignore the fact that a gaussian is still in place)