Non-representative example Given that options for the volume column are restricted to a maximum of four possibilities, based on the preceding entry (e.g. DB could only be followed by DB, T, B2R or B2B), and based on the 1st run-through of the attached chart, volume entries would read: IB - B2R - R2R - R2B - B2B - IB - IB - IB - IB etc <img src=http://elitetrader.com/vb/attachment.php?s=&postid=2131486>
This where most people say when it comes to beinning to think about using channels as a means of making money. A lot of people think about things for a while and conclude, as you have here, that in hindsight it is easy to figure out what happened. The dilemma for these people is that they feel that trading is not done in hindsight BUT, on the otherhand must be done in REAL time and the only time that could be important turns out to be NOW. They feel that the past is not important and as they look at trading aids they often conclude all indicators are lagging. After a while they start reading and get huge doses of three things: 1. How to use edges. 2. Money management is important when using a valid edge, and 3. A person must always use protection if and when he is in any postion. The conversation either turns to hedging or using stops. In 2007, a year was spent on a syllabus to deal with SCT and this occurred after a few years were spent bring into focus how the PVT trading works for trading stocks to make money. One algorithm underlies both applications. It relates to pool extraction. My view is that using the algoritm and its applications has gone through a long prove in and it is now known to not have any anomolies. I consider that a boot camp is THE way to introduce the opportunity to potential traders who have the potential to use their minds in a critical thinking manner when their minds are open and their belief system has not gotten to a place that the consequences are overpowering in term of rational reasoning. Good examples for me have been fifth to seventh graders in private schools (First Formers). Fifth and Sixth formers (high school Juniors or Seniors). Example means persons in a group making a sustained successful effort handling what was in the scope of consideration. Interested college students that are working purposefully in groups need no constant progress reviews; they just march on down the line and pile up the profits. So, pragmatically, the possibility of a concerted effort to get the ball rolling by immersion comes into view. Boot camps are working for various types of trading methodologies and they have a record of results. So do Prop firms and so do IB's and so do HF's. I feel the time spent in this boot camp was very rewarding. It has definitely shown what it takes To try to make any sense of anything to other interested people. I'm backed up about 125 pages at this point plus illustrations. But page 1 didn't work out. I'll do a separate post to parse the above post.
We made a poor agreement. I misconstrued the log you initially came up with as an effort to begin a learning process. Learning to trade any method requires critical thinking. To state this means nothing if the person reading it isn't interested in thinking. I have been breaking the pieces into smaller and smaller pieces in order to get any one reading to be able to have something of a small enough size that they could thnk about. The above post illustrates this because it is a statement of a person on the sidelines that is just considering thinking about what he has been looking at (I suppose a person colud feel he was doing more than looking) for over two weeks in this thread and for months previously as a bystander of another sort. It is still too risky for anyone to participate and think about anything. And it has been stated that the bootcamp has been tried before and its not a good idea for more then one person to be the non guinea pig. Here is the parsing of the above post: "One thing I'm finding a little confusing is annotating channel gaussians from the outset." Your solution was to NOT annotate. Very safe and you are right where you were months and months ago. I suggested that you begin the weekend's opportunity by doing the 10 days you didn't do by doing each one to GET IN THE MARKET. If a person gets in the market does he know how to annotate the first Channel Gaussian? There is absolute CERTAINTY to the answer to this question. I'll let it go at that. "Once you know the channel boundaries, and can see where price has bounced off the Left and Right trendlines, you can mark your gaussian peak and trough respectively, but what process do you go through before it's clear where the channel boundaries are?" One simple aspect of being a beginner is that a beginner trades from FTT to FTT. The exception is the open; here the beginner enters ASAP on the right side of the market. After he does this he holds until he reaches the first FTT of the first channel. The specific answer comes from the critical thinking that you do not choose to do. I do not think, at this point in your life, you will make the choice to begin to think critically. Anyone who is willing to think critically would answer the specific question with : "hold". The boundaries do become clear BEFORE the FTT is reached no matter what level the treder is trading upon. You have spent a lot of person time and have not come to understand the answer to this question. Furthermore, your mind raises the question BEFORE you have done any "WORK". There was put forth an idea about the opportunity the markets represent. You espouuced it as something along the "party lines". You said that "WORK" is required and your rebuttal turns out to be "I'm not going to do the work and I am not going to think, BUT I am going to sak the above question. NOW you have the answer and you also have the fact that you did not do the work where the answer would have been given to you in doing the work. Here is a point: I started bootcamp to get you and others to do work. No one is doing the work and interacting in ET. The only people commenting in this journal are the ones NOT doing any work and they are telling you you are not doing the work. "Do you start annotating gaussians on the tape level, then proceed to the traverse level once you have your first confirmed traverse, and finally overlay thick red and black lines once you have a 3rd traverse and a channel point 3?" Minor point. You are unfamiliar with channels. They are formed by 2 traverses. The second traverse is between point 2 and point 3. you may notice that on the annotations you do not do and in the logs you do not do, that the second traverse is labelled as begining with point 2 and point 3. As far as annotating, it is a good idea to "build" from bar to tape to traverse to channel. Everything is annotated, it turns out, before, on any level of skill, a behavioral action occurs. Behavioral action means you make use of the trading platform keys or icon by physically doiong something with your physical body. There are three levels of annotating involved for V and P. In boot camp as each day went by for ten days we discussed how to make improvements on each of your charts and logs. This repetition that we did day after day allowed us to be able to do more and more debriefing as the days went by. Actually nothing happened at all. Summary We passed on trading to make 1200 to 1500 points per contract overall in the non annotating and non logging time.. An advance of 40 points represents, compounded, doubling the capital in the market. What this post represents is the question that comes up in the first fifteen minutes of bootcamp for a college student. They lack the fear, anxiety and anger that you continually exhibit. What would have been wrong with doing the work? For the detractors the answer is that all the time they had waited before actually starting, they would have to recognize as "doing the wrong thing". How many people spent 2 weeks looking at PVT, SCT or the pool extraction algorithm before deciding it was not worth the work? The answer is: Just about everyone. That is the way it goes.
This is just a simple screw up and it represents postponing doing the annotations on 10 days of charts to get in the market 10 times before you proceed to doing anything else. You are what is called "an inventor". Stick with your heritage and informal and formal belief system that rewards inventors of stuff instead of people who learn to think critically. You have a life record of doing this over and over as time and events pass in your life. Notice that you have no knowledge and no skills for trading in stocks and commodities. Notice you are sitting in the same boat as the detractors of ET. I know you will read this and start inventing a new Boat. Notice the market is THERE and notice all the peole around you who are sitting in the boats you and the detractors use. You know NO one who can trade the opportunity. Do you think the opportunity is just a mythical thing that you just can't afford the time to begin to hear what it is saying to people like me?
Who knows? You do not do any work. Do you think I have seen the bar and price of your entry on day 1, 2, 3, 4, 5, 6, 7, 8, 9, and 10? Do you think I have reviewed all ten of these annotated first few bars of ten charts you posted? WTF? Do you have a cover to put over a print of the ten charts you made? I don't think so. Did you take the chart with its cover on it after you entered and scan the combination of the two (the chart and the cover covering almost all of the chart)? WTF? you wasted another weekend doing what you WANTED instead of what was NEEDED. Do you get the difference? WTF.
Jack, I've done the entry drill, for each day, and logged it. Based on the reasons upon which I decided a confident, early entry was vital I simply extended Part One of the drill to get more entry practice. The other five parts of the drill are in process. Again, maybe we're at cross-purposes here... I hadn't realized I should be posting every individual drill piecemeal, but thought once the logs and charts for entire days were complete, that they should be posted. My query about channel gaussians was not thinly-veiled skepticism about the validity of the system. I agree that it was off-topic to mention the two CW traders; it only felt relevant to the two points I was trying to make: the limited potential of conventional trading, and the importance of contribution as an end point. I also accept that this has been a significant time investment on your behalf, and given the limited progress that has been made, it's unreasonable to expect your continued input. Thanks for persevering this long. You're provided much useful instruction and information.
6th: Bar 4, S, 1075 7th: Bar 2, S, 1064.5 8th: Bar 2, L, 995 9th: Bar 2, S, 996 10th: Bar 2, L, 862 13th: Bar 3, S, 940.25 14th: Bar 2, S, 944.5 15th: Bar 2, S, 971 16th: Bar 4, L, 924 17th (log misplaced) I printed those charts out, but only get various shades of gray, rather than black and red, so couldn't use them. Instead, had to load up charts on my computer, cover up the price pane, drag the right hand margin to the start of each day, then uncover bar by bar. For some days, I played the first 2-3 bars in realtime.
You need to review our agreement. I wanted to offer you a chance at learning, in a boot camp context, how to progress through beginner to advanced axpert building block by biulding block and level by level. I can under stand that you to not take direction from anyone and you feel you can do what you want all the time in your life. That is what got you to where you are today. Can't you tell me why you do not want to give me a break and report out anything you are or aren't doing? Just explain it to me briefly. Do you get the picture that a person redid this entire thread for your and my COVENIENCE? It is too bad some posts were lost. that happened and your progress as a record is now compromised. do you think you can get to work? If so when do tyou think this will begin to happen? These are questions I am asking. Of course answering is optional.