.... Early exit, rather than reversal, to remain true to beginner level. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2144858>
Debrief - days 1-5 First draft <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2144882>
Very good. We are getting messy. Markets are great and for days 1 through 4 we had a nice simple get with it period. here you see you worked very hard to keep up to snuff bar by bar. All trading happens in NOW and itis your job to know what is going on. we are now leaving your CW past and the PA vertical orientaion of CW. You have to keep focussed on the horizontal orientation. I am putting up a chart that you can now "read" and begin to understand. If your three ring bind has a plastic cover over the cover slide this graphic inside the back cover of the 3 ring learning 3 ring binder. It, in color shows zones of where the points of channels can be found.
A lot more taxing than I would have expected. I agree. I feel these are currently my two biggest (self-imposed) hurdles for advancing my acumen and abilities. I'm focusing too much on the slightly distant past. It would be far more instructive to try and imagine each bar forming in real time? (e.g. potential for multiple values in overlap column/bar as each bar reveals it's story). If I start annotating ALL traverses fully and completely, thereby knowing the right side of the market at all times, I'll be able to prevent going back to tinges of the vertical as a recourse. I also notice significant overtrading as I search for the FTT.
The glue that binds it all together. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2144884>
Quick question again... Is this correct... I should see TAPES which form a green TRAVERSE. Or TRAVERSES which form a CHANNEL? Thanks.
I need to step-up my annotation efforts. I think annotating all the traverses will be the key here. So I should monitor consistent datasets in the Monitoring (e.g. rather than comment on relationship of C to H or L, which is something that should come under Analysis, in a dynamically logged Overlap column.) I'd like to initiate volatility. You mentioned that it was measured in tics (I imagine this means tick ranges +/- relative values) and needed to be understood in relation to PACE. RE the partial efforts, does that pertain to the current drill, or more a sweeping statement?
As has been said it takes "at least"-------fill in the blank----- " to be sure it isn't a fluke or blowing up isn't likely. Here you see why most people will not consider SCT. On day 5 your entry and hold to the FTT netted 1 point per contract. This is following the annotating and doing the logging on a beginner level. Most people turn to PA and the CW of betting, money management and stops in lieu of an approach based on the casses of two adjacent bars and how ther is a fractal heirarchy of tapes, traverses and channels in both bull and bear markets. On different days as a beginner learns and annotatedand logs he get to see the consequences of positive learning and picking up insights through EXPERIECE; this is differentiating unfolding here before our very eyes bar aftr bar. We use 1610 bars for ATS look up tables and 10 days of initial experience is only 810 bars. we see on the initial debrief the groups of bars during their time of day that desrve more of our attention. that is what debriefing is all about. We will be using a pile of 40 sheets of logs and fully beginner annotated 10 sheets of charts. we can notice that we started with 2,000 dollars of margin and now over 5,000 points are sitting there at the end of the first week doing beginner trading of channels by trading the long diagonal of each channel. We will see that the next five days help to advance the capital of the first week. This is how money velocity trading happens. The time rate of change of pool extraction improves to the point that the market's capacity comes into view. As ot does we sweep capital out of SCT and place it in the PVT accounts where position trading larger streams (2 to 5 million each) is the norm. Our goal there is 2 turns a week for 100 turns a year. as it well known making money in the AM works quite weel at beginner level simply because the day begins with tapes, traverses and channel all beginning with dominant moves concurrently. you can see that the talking heads on TV could let the world know this to start every day pleasantly. It is where the "30 minute trading" approach came from as a remedy for people who didn't have time or patience to do full time intraday trading. A person doesn't have to trade every day when they are experts. And everything a person such as this does has a funny ring to it since he is NOT making the money that time spent trading makes him. This is where the "insider" and "outsider" aspect of discussions among expert traders comes from. In Expo sessions of "Experts" (there are only 2 or 3 in the whole 4 day expo) especially during Q and A, all the experts know when an "inside" exchange is going on and "outsiders" do NOT know. This thread will make many "insiders" soon. You will see "outsider" comments as well. Here we easily see why 4 out of 5 people reject pool extraction and its applications. The reason is that they, by choise, will not do the work. Looking at SCT o9r PVT for two weeks is not going to allow an observer a basis for personal judgement of his personal potential to become quote competent in any level of trading sct or PVT. Grredy people automatically turn themselves away. It is neat to not have any greedy people following the threads run on pool extraction. Programmers drop out soon because they come from CW and quant training and they cannot grasp non probabilistic null hypothesis thinking; they are "induction" oriented and they get Black Swans for their efforts. After a couple more weeks of this, you get to read many many books out there as humor writing. The screamer is "The Predictors". What goes wrong with backtesters? Don't confuse them with programmers. Most backtesting is done on platforms sold to retailers. Most backtesting is done from an induction , rather than, a null hypothesis viewpoint. the results are not constructive for building algorithms as models or doing development of modles into manual mechanical or automatic ATS's. Boot camp ENABLES the mind to be differentiated and that enables anyone who is differentiated to contract with others to do applications if the person under contract can follow directions. Most find it difficult until we support thier becoming intermediate successful traders or we stick to just ancillary scripting. Five days, roughly, banked some profits. Now we do the remainging 5 days more carefully and accurately by not skipping steps or anything else.