Technical Strategy

my chart did not stick

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2128409 width=800>

 

2am here. First call-out of the night.

 

This volume chart is repaired.

At the open you had to stay in WAIT until you got a dominant to begin. See past comments.

Why not take advantage of the comments and annotate accordingly?

Financially learning to do this is important. This was a 175 point per contract day for example.

we need to have useable charts for the future skill level changes to do drills. You are annotating on a CHANNEL level in volume at this point.

Later we will fill in the annotations for traverse level in volume and finally we will fill in the charts for tape level in volume.

If and when you start to divide the day up into portions, there will be room for such work.

 

For making money you trade on an FTT and you hold on a BO.

The FTT has a voume peak and a BO has a volume trough.

the rows that you will be starting to do will have the volume followed by the Price on a row.

At some point to make 175 points like today, you NEED to be able to fill in a log.

The important row is the one with P in the volume column and FTT in the price column. This is where you put X in the MODE column and REV in the D column. You also fill in the A column by listing the prper direction of the trade.

To begin a day you fill in W in the MODE column at the beginning. then at some early row you get a Volume symbol that is a color and you get a price symbol that says bar BO and you Put X in the MODE column and ENT in the D column and the symbol for the color in the A column.

At the end of the day on a late occurring internal bar you put the color in the volume column. in price you put INT and in MODE you put X and in the D column to put COV or EXT to end the day. In the A column you make sure you are covering by putting in the correct symbol to get out of the market for the day.

Do you understand any of this as yet?

I have to quit for the day. Time to eat.

Work as long as you have to to put up one day's annotations and a corresponding perfect log for the whole day.

 

Thanks for the comments. Just got back. 4am here and been up 22 hours now. Cogs whirring even slower. Will endeavour to post a perfect chart and log manana.

 

Entered at 941.5

<img src=http://elitetrader.com/vb/attachment.php?s=&postid=2128975 width=640>

 

Log

<img src=http://elitetrader.com/vb/attachment.php?s=&postid=2128981 width=800>

 

Reversed at 938.75 on OB/IBGS down.

<img src=http://elitetrader.com/vb/attachment.php?s=&postid=2129000 width=640>

 

Covered at 941.75. NKTK. Realized I'm not operating on a channel level.

 

Re-entered short at 934.75 on short breakout on IRV.