Yes and you could start with the first one or two and let questions and interest un-fold the others. In terms of revealing and losing any type of ‘edge’ - that’s just the blind leading the blind. The requirement to effectively use an ‘edge’ is the gray matter between the ears. The work required for understanding has no shortcuts and requires one to grow their brain. Edit: I’m currently reading ‘Stealing Fire’. It explores flow states - ecstasis. It describes Anandamide as the neuro -chemical associated with the ‘ah-Ha’ experience and lateral thinking. It causes new neural synapses to form - literally growing one’s brain.
True. And I thought I did just that in the first post in an effort to show what I meant, as follows: Additionally I gave another example in reply to a reader's question as follows: Let's say that from your study, research or from what you learned somewhere you know that 86% of the time the price movement in an advance/decline will be made up of no more than 3 waves. Now, on your chart a technical indication, such as a new high followed by a picture perfect reaction that has remained above the previous low has formed. However, it has formed on the 3rd wave in the advance. So, given that the odds favor advances ending on the 3rd wave you decide not to take the trade and look elsewhere for a better opportunity. Focusing just on the technical indication itself, and ignoring, or not giving due weight to the various parameters that can make or break the trade would certainly have a big effect on one's performance. Anyway, the one thing that is clear is that I have no business trying to be helpful and starting threads!! And can assure you that it won't happen again!!
Yes, that is clearer. From that perspective, then being short is the opportunity. For me, I would need to drill down from my annotated Chart’s and log that map the developing context to glean a finer resolution. The scenario you describe would have me on the DOM, T&S, and Tick chart looking for the switch in minority control of dominance. Let’s say I didn’t have those, well relative volume would tell the story. In this trend; Are the volume peaks increasing/decreasing? Are the volume troughs increasing/decreasing? Is the volume pace increasing/decreasing? The above combined with price cases makes a complete dataset. The result is always a conclusion - go/no-go. The process loops every 5 min. The process builds sports memory. Sports memory serves up what we need, when we need it.
"...parameters..." ...there were two parameters... ...7 other parameters,... ...these same 9 parameters... ...never considered such parameters... ...how such parameters... ...considering the parameters... ...study of such parameters... ...knowledge of parameters... ...what I mean by parameters... ...one parameter, which I don't use... ...overlooking parameters... ...what the parameters are... ...those parameters... ...the various parameters... ...one or two parameters... "...parameters..."
Those who trade price will understand what you're talking about. Those who trade indicators or Elliott or Fib or anything other than demand/supply and the behavior that causes one or the other to dominate will likely have no idea what you're talking about. So don't feel bad; it's just the wrong audience and the wrong time.
Actually the 10k hours has to do with learning to master the violin. The statement was incorrectly applied to mastery in general and trading in particular without any evidence of same to back up the assertion.
An explanation of what led to the "real-time call" is always a plus. Otherwise, they're pretty useless.
Please don't feel bad, don't let them win! Whenever someone offers knowledge, given the current Dark Ages we're living in, only 0.5-1% of the population are bound to understand, or even have capacity to try to understand others' positions, even on ET.
This is sometimes called price action trading. More conversation about those "parameters" as you call it being mainly discussed at forums, blogs or whatever in comparison to books. Explaining the parameters is easy but understanding them seems to be complex to most. In fact, as soon as you start talking about "parameters"...people see it as "too objective" or "too strict"...it scares them. Further, they are not use to seeing parameters explained. They want it instead to be more "subjective" as in less info to know or less info to understand. I've seen many threads here at ET where traders try to explain the "parameters" (beyond the pattern itself) of the price action and it usually ends in an argument or personal attack because some think the "parameters" takes all the fun out of learning about price action trading. By the way, as you noted in a later post...the word "parameter" has other titles that some recognize such as "context". That word too is not liked by most price action traders because it makes trading "too restrictive". Regardless the the word (there's others)...its still the same.