chart 3 begins to put on the table how the market is going to set up the pm channels. We get pt2 as a consequnce of having pt 3. But it is also clear that trading the first dominant going from pt1 to the unknown pts, as yet, happens for all levels of trading because our postion in the market is determined by the beginning of the channel overlap as a consequence of the old channel's failure to Continue (See MODE in log).
This is the key post of the PM. the chart 4 is annotated to give you a job as a beginner in boot camp. Three intenals that are REALLY impressiv by their stature do test anyone. We called ahead on each one TO MAKE YOU REASON. YOU ARE LOGING C'S IN MODE AND H IN THE D COLUMN. As you read the annotations you find out one more time what you job is. Do it and get the pm done. Once you have the channel surrounding the price and its further movement, you get to the FTT that winds up the channel. Get pt 3. Get the annotations done and complete the day. This chart gives you the moment when you MUST follow the principles.
Sorry, slight correction to Part 4. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2106907>
I apologize fro my unreliability vis a vis running a continuing narrative of boot camp. What we did in off hours over the weekend was have a boot camp orientation for those starting out in this algorithm with an open mind. Boot camps are a place that is separated from mostly everything else. Usually the environment is extreme and a lot is expected or the person in boot camp. So I do expect a lot of everyone. You have minds and health and an opportunity. The opportunity is more or les unseen. Iterative Refinement is the contemporary thread to follow as C & C (command and control) because it is the result of years of building an intentional planned PROCESS. we prepped for 2007 and an orderly syllabus was presented there. Time was afforded to present and to provide an understanding of the topics of the syllabus. Time passing is the single ingredient that must be understood. Experience has many factors. You must work. Working in a critical thinking mode is how the objective nature of science comes to bear on this expansive opportunity. Rows of the log are a visual referent that give you the concept of adjacent moving parts and that the parts make up the whole. I refrained from putting up a log. I did not put up the log that led to the agreement to start this. The log spreads MADA across a landscape sheet of paper with rows. By going across a row as an openminded participant in a regimented setting, you get to repeat MADA to reach closure each row. This mental critical thinking routine allows your system to settle down into a personal work process that come to be trustworthy. In the Boy Scout law, worldwide, this is the first precept. As small as something may be in the world, it was a good idea to think of trust as a first element of a comprehensive character forming effort. As you fill in the rows of the log, you design a trust system for yourself and especially for your mind. It is important to settle down and work. Boot camp is a place where expectations are on the table and the participants do work. Why do you think Spyder put the preflight check on the table on Sunday? The log I suggested allowed for individuals to grope around a little to get the landscape sheet"s columns set up and organized. I focuessed my comments on three spaces: the MODE and the D column AND the Remarks section in between. Remarks are part of analysis. In your formal education the early years you mostly parroted back what facts you were givien directly or a homework reading. At some point another thing entered the picture; it was not A>>>A any longer. You operatad on A to get some B and the B became part of your knowledge as well. Your B was critiqued to assure it would be fitting in properly with all the A you had. As different subjects were deepened they had identifiable periods of time devoted to them. At some point you learned to lean. Where I matriculated, we had heavy doses and half could not continue and those that did split into two streams; one was timely and the other lagged but finaly a year or so made it. Recitations reversed as levels rose. At first, we reviewed assigned problems then we had Russiam Roulette cards at the board. Last we did Russian Roulette and reviewed the assigned and the Roulette. It became tricky for me. Sometimes bringing to bear available knowledge puzzled the graders. Fortunately, the answers to the cards were available to the grader. What was missing was how to get there going from the question and processing to the answer. In this boot camp a question has shown up. It is the traditional: "what's up for nex year?" I did snag a person's chart and go to paint and make it possible to draw 7 "legs" to show the path of price (and I put volume down below since I needed the space for price) over the year. The chart was the answer. What was missing was how to go from the question to the answer: the sausage that is between the ties at the beginning and the end of the sausage. Boot camp is being done to give you the middle part.... just after monitoring raises the questions of analysis .......... and the point in time when you have the loggable commentary recorded (the D and A of MADA). I began boot camp with focussing on getting a log to record loggable comentary. Boot camp is a construct where, in the military people are compelled to fit a mold for the reason that the susequent waging of war works out as the military desires. This boot camp accomplishes similar aims and it is necessary to get this understood before too much energy is spent. The anti boot camp crowd has to be eliminated. Use ignore for this as an expedient. These people will set up thread elsewhere to amuse and abuse themselves. There are some borderline cases as well. I entertained susanaDT (daniel33 alias at the time). Her issue was "evidence" she required. I did the lap with her. "What if" she traded for the bootcamp doing as suggested? She would become a millionaire in a couple of years. All she would have had to do was get to 20 contracts on advanced beginner. Her tough issue would have been logging for enough reps to have it down after asking about 8 questions (6 Q's would have been on volume) So far may people in bootcamp are thinking that they are like the children of Lake Wobegon (All above Average). You can see this by the logs posted. To become an expert, you have to get a sausage sleeve and tie one end. You need to put some sausage in the sleeve and tie off the first sausage and get it checked by an experienced sausage stuffer. The sausages that were posted did not even look like sausages. Here is what a sausage looks like: it is a landscaped sheet that has provision for page numbers 1 through 4.. It has rows (maybe blank lines every so often). It has a right quarter for putting trades housekeeping in a convenient set of columns. The middle is wide and has three columns (left to right): MODE (4 characters wide), Remarks, and D column (4 characters wide). On the left, we start out simple and have two columns where each gets to have a vocabulary of symbols inserted that may be referred to. Volume on the left and price on the right. This is an area where all kinds of cheating is allowed. BUT it is all in VECTOR notation. For volume, PACE is noted as relative and has a magnitude. Use one letter if possible add an arrow if you go from one letter to another. Then in the next row you look above and see the PACE change Arrow. You use a back pack in volume. The trail is blazed and you have EC (elevation change) list the trail color and and arrow for the EC direction. When you do the next row you look above and see whether things have continued or changed. There are other things in volume since it can be checked at any time (this will not just be at the end of bars.) Always say what you are looking for. Note IBGS if you ever see one. in three rows it is possible (vetically to put R2R, or and other combo of R and B). Here is a good cheat: Put a 2 in the next row down ahead of time. For Price, we have a lot to record. Mostly the loggings indicate price is trending or internalling, name the trend, name the internal. If you ever get to WMCN write WMCN= ____. See it appear in a row below. Yesterday was the first log posting day except for the weekend when I was begging people to log friday. Boot camp has a rule: you may go to sleep after you posted your four pages of logs for the day (To make it more convenient only post one page a day of the four and change pages each day. When you go to scan them, make sure they are messy and make sure they have no values in the P and V sections. We are not recording boiling water in a chem or thermal lab.
Here is some technical news. I have been working through how traders behave while trading. It has been quite a trip, longitudinally speaking. Just as the PC came into being so did other processes for dealing with the mind, the heart and the body. The PC now enables a person to let himself settle in for trading in a personal monitoring manner. I mentioned the inherent difficulties CW traders have. ET has had discussions on the literature involving this. LO, et al, did a surface examination of CW types at trading institutions to gind out when and the circumstances of thier getting wierd while trading. It was a "stressor" testing system on the order of watching water come to a boil and noting (not publically) that trading became unfunctional. The conclusions were that trading with big money is very stressful and people under stress do not trade well. We will be working in a different analog or algorthim than the traditional above mentioned manner. By examining the contrast to the CW fear, anxiety and anger model to the MADA model which engenders support, comfort and confidence (the knowing that you know orientation) using PC software and ubs interconnections. Technically, we have agreed on using a Fourrier analysis technique that has four modes of observation. We can go through how to make the shift from one anyone's present orientation to the MADA orientation. Presently, a lot of people go through such shifts while dealing with a wide range of situations and issues. This has not been done in most fields with respect to trading in a high velocity modus. Steenbarger is an example (OODA), as is Lo's of the problem and no solution. Applying a solution to an opportunity certainly is not a parallel example. By doing this, though, it will be a contribution to others. I have the tentative approval of leaders in four fields at this point. They all have base lines. In some cases this is an outgrowth of other ongoing efforts. As a fundamental science oriented statement what apparently has been observed is that trading as a function as practiced by people can operate in one of two distinct behavioral climates. One of them precludes having a necessity found in the other. An example we examined was road rage. Some people practice road rage; others do not. If a person wants to change groups; it is generally considered a unilateral opportunity. By using, in situ, this monitoring schema, it is now possible for road ragers to be able to train themselves out of road rage behavior. Road rage is circumstantial and, for some it is present al the time. There is no way to retrain CW traders to not have the fear, anxiety and anger Steenbarger addresses as continuing maintance treatment or what Lo observed (streeors) and verified at IB's and HF's. But there is a way to use monitoring and self training to operate (behave) in a mode of support, comfort and confidence. The objective is to avoid the 0 --2 deprivation (up to 50% in the brain) and CO --2 Syndrome of the Bohr Effect. As a comment on how ET works and the way some behavior is continuing by detractors, the construct of the situation, conditions and circumstances is that all information is not available to all people. Most group or family or couples therapy dwells a lot on what is sometimes called "fighting fair". Having all information available to all parties is a huge factor in this. The pay it forward orientation we have is not conventional either. We do not fight fair. That has and will always be made loud and clear by detractors. To get all the information a person has to work to get it simply because it is being sent to the mind as knowledge and technique. Many people in many fields have pointed out that knowledge and technique can only be transferred over time by a purposeful experience based upon repitition to establish long term memory. The alternative of documenting the knowledge and technique and especially the record and performance is a very simple task. That has been done internally by the providers. As providers, we fully recognized that the transference we all experienced could be replicated over and over. We each have a performance and records as well. The result, if undertaken, is that a person puts himself in a position to help others by giving time and/or capital as he chooses. We feel strongly that we are dealing with what is termed as a paradigm shift. The fundamental requirement to consider this, is to be able to make a shift, if necessary, to begin to deal with the opportunity. If a person continues to disregard the mismatch of this stuff and the CW, then he is going to continue to grind his gears in an untennable situation. AS NIKE doesn't say: IT just doesn't work for that person. This is NOT a "JUST DO IT" situation. I think SusanaDT just faced her requirements to do something and she feels she cannot do something unless someone like anek is proving he is doing what she is doing now. That is, staying in the same paradigm and adding knowledge and technique to that paradigm. The literature has proven how the CW paradigm works and inductively blows up. We are doing blow up number 19 right now as the quant era comes to an end. I mentioned February recently. I follow closely what is going on as you may have gathered. I regard 10Q's and 10k's seriously. This month the financial industry and all sectors report out their semi transparent 10Q's for the past third Q. In January we see the 10K's usually by the end of January. Annual planning is getting implemented and February is the second month of "feedback" on the slowly evolving plans already made at this point. I commented in DEC of 2007 on the "legs" of 2008. Why not? My imparting how the year was going to come down was done by everyone in the financial industry. My views are actually sought although I cancelled appearing on TV last year. As you saw, AMT4SWA is going to build a plane over a year. By having a neutral bias and taking the offer of the markets day after day (at capacity or a multiple), what money and capital is in life gets to be very different for you compared to all those people living in the various communities all over the world. Boot camp is here to advance the critical thinking of people who want to contribute to problem solving in the future. So Friday and Monday required scale changes. As you come to "know that you know" it is a direct consequence of becoming trustworthy (in a personal sense). The offer is ther and you do a routine MADA. The closure each cycle of MADA is telling you "you know that you know". The mind, unconsciously, builds on the basis of "use it or lose it". Consciously, you use the differentiated result over and over as the inference that joins what you sense becomes you more and more elavated perception. Let yourself do MADA and log. Later after the day ends, debrief. The check books take care of themselves. You apply more and more capital from profits. This is the way it works ....... your job is to take money out of the huge pools and put it to work to solve local problems. Our minds are designed to grow and do Jimminy Cricket thinking.