Day 6 Stay Horizontal. Annotate properly. Think Now. Looks a lot neater than it deserves to. All lines (except pre-existing lines and chunky superchannel lines) were advanced bar by bar. Drill started at bar 35. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2145165>
Okay. You did a drill to enter. You did a drill to get to point 3. You did a drill to get to FTT. You learned the sequences of a channel for beginner trading. Before this I mentioned a foundation. The foundation was based on 7 cases which you have tabbed in your 3 ring learner binder. Then as part of the foundation we learned that two tapes make a traverse and 2 traverses make a channel. Day 6 does not reflect any learning going on. what this means is that no long term memory is sticking. The primary reason is that no work is being done and the gaps in doing work are spread broadly between doing a short period of work. I have tried to convince you to take diresction and be diligent in using the cover to pull it it the right bar by bar and annotate and log. Most of the log remains clear of logging and only a smal vocabulary is in use and it is more like a lab data record and NOT like a commentary on the pv relationship. So staple the day 6 folder shut on the three sides which do NOT have the fold. This makes Day 6 folder sealed and such that you cannot look into it again until we get around to some of the last 50 things we have to deal with. Since you do not work I cannot support. After you do the remaing folders, then do day 6 over from scratch. At this point you have lost the concept that a channel has 3 poionts and an FTT in sequence. It is also true that you do not have a system of line weight for tapes (two colors are used as well); you do not have a system of line weights for traverses (two colors are used as well). You cannot find and KEEP a point 3. You cannot draw a channel and THEN find the FTT in that channel. Having to start over with day 6 means carry the contracts from day 5 over to the beginning of day 7 and then work your way to day 10, day after day. Do NOT fill in the right most parts of Action as that will be done later after the first debriefing where we got the concept of adding pontracts straight. We are now at two strikes in batting in baseball. As I suggested a person who is heavily laden with CW as his first recourse should do PVT before doing SCT. In pm's myself and others have explained the facts of life to you. You need to consider doing the directions and not inventing what you want to do. The first week make over 250,000 dollars from 2,000 dollars. there was only one reason: you were working frquently enough to keep learning in a way that short term memory was, for a while, becoming long term memory. That process has ended as we all see. To restart it takes doing work. If you do not want to work, you will not learn SCT by building your mind. I am really backed up here in illustrations and typed pages.
It's certainly not for lack of effort. Been annotating and logging for 9 hours straight today, after working a 6-hour early morning shift. I have been extremely deliberate, assiduous even in this regard. I was under the mistaken belief that I was using the entire vocabulary we established. So my inference from this statement is that 1) I've failed to naturally evolve the vocabulary with time, and that perhaps the next addition in assessing the PV relationship is the Jokari window. 2) FTT should be used in the price column, as well as the stage column. 3) Trough should be utilized more extensively I'm sure you are bearing in mind that I commenced chart 6 after the FTT had been located on a prior drill. Admittedly, the recent comment that every pair of tapes makes a new traverse has jammed a few cogs. And I have perhaps mistakenly understood from a number of charts we have used that after a traverse RTL is fanned (by the use of a pair of tapes) that it morphs into a channel. You're right, ever since I switched from drawing tapes in HB pencil, the system of line weights has been lost. And in being more careful with my uncovering of the chart, bar by bar, I have failed to preserve my accuracy in thickening channel lines. I will address these issues. Virtually every waking hour (and that's generally 18-19) has been occupied with either work or this.
Day 7 Drill commenced at bar 58, before I had the benefit of the recent feedback. This chart and log is a better example of the glaring errors and omissions, particularly from bar 58 onwards. I think this is a very clear sign that the cumulative physical and mental fatigue of a very strenuous workload are taking their toll, and in order to prevent premature burnout, I need to ease my relentless pace, perhaps even working, not harder, but smarter. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2145363>