Going back to complete annotating, on revisiting the 7-cases I realized I had only been utilising two... <img src=http://elitetrader.com/vb/attachment.php?postid=2146614>
Day 8 Drill started at bar 67 (last green IBGS). Also went back to complete some of the missing annotations. Now I place my log on a different section of the desk to the chart, forcing me to physically move from one to the other. Feels completely different, and may take a little getting used to. I'm trying to work smart. It's a slow and unfamiliar feeling. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2147131>
I realize it's unrealistic to keep increasing the contract number indefinitely, but in the absence of alternative instructions, will continue as before.
This is a good job on the annotating for anyone just starting out. The manner of putting the new point 3 in is good work. By comming to the understanding that differnet types of thinking ar in play for annotating, monitoring, analysis and the combo of decions ,action and reaching MADA closure, you are able to build several areas for differentiating and the additional neuroplasticity that is going on. As this happens, you will be moving from sympathetic to parasympathetic in how your body is generating resources for your brain's operation. In the sympathethic mode you tend to be shutting down as a survival technique. For day 8 you agian see trending and no FTT. as you will become aware of the ends of days, there are several factors at play. Today was one of those that demonstrated that many different strategies had the same difficulty to deal with. This meant that those on the other side had a great advantage because of the extreme imbalance. This smaller minotirty with the advantage reaped the benefits today. Day 8 had a similar characteristic. I'm glad to see that the Doidge is opening up possibilites for you that are oriented to how this boot camp path to expert can be conducted. Over the years, most people have followed, roughly, the same steps and stages of realizing their potentials. Most all people can attain knowledge and skills in their endeavors if they stay on the trunk of the learning tree. Here we do that. the decisions often made by others who do not lead them out on to branches where the further they go the less tenable the conditions, circumstances and situations become. I will be gin the degway into advanced beginner after we debrief on how adding contracts is one of the keys to acquiring capital. As in any successful trading approach this becomes one of the mort important themse. As a test of an approach, the adding contracts part becomes the prima facia "evidence" of the primacy of any method. ET does not have a forum on Business Plans or adding contracts. There is no demand since there is no need for most trading applications. Here we have to include adding contracts simply because SCT is capable of taking the offer of the thrader's partner, the market. As the levels advance, more and more knowledge is there for you from boot camp. In parallel you will acquire skills through the drills of boot camp. the T7S shows the tape of completed trades and by segemnting it into two classes or parts you get to see how as contracts are added, you deal with the capacity of the market. To enter with 1,000 contracts (all profit) we would look at the 50+ T&S and not be too concerned with the ALL contracts T&S. By looking at or near open you see PACE is extreme and the "market" orders are opposite the limit orders and the market order set the PACE of the market and the way individual market blocks are flowing. All mornings are the same. we enter with market orders as a matter of timing (all orders are a matter of timing). If the flow is large orders in T&S we take fewer market o0rders to complete the entry. 10 contract blocks of 100 would get us in. On Day 8 we leave the same way. LIFO or FIFO accounting makes no difference. On each Friday we sweep the SCT accounts to move capital into the PVT. streams of 2 to 5 million are used there as the capacity and partial fill entries and exits are SOP. Working with 5 x the capacity is a good modus for SCT. Consider the capacity to vary from 500 to 50 for market orders. During cascading, it can drop to a lower number than intuition would dictate (odd harmonic issues prevail). So after sweeping we would not have 1,000 contracts running on Mondays but we would have worked up to that level on Fridays. It simply has to do with how the minority operates from Monday through Friday. as you thinkabout it, you will notice there are many strategies at play and we work around what the minority is at any given time. A nice size minority means larger blocks. When a lot of accounts are getting beat up the minority is smaller. CW is vertical and they do not handle volatility in markets. SCT is horizontal and wishes for volatility since it relates to the principle of SCT that money is made by price movement. the other factor relative to contracts is experience. People learning SCT are regular people and as such they are not used to having money. By not having it, they then automatically have a need to learn about having money. Having money is sort of easy to learn but there is an additional aspect, once the money is there in your back pack you notice that you are hiking with it. It takes a while to let the support, comfort and confidence of a parasympatheric orientation settle down. the main thing is to use your "feelings" detector" to notice if and when sympatheric issues related to money are slipping into the picture. Since we will be hooked up to biofeedback, those times will be very apparent. The biofeedback record is saved so, in debriefing, we can go through what is what during the day. Linking the bio to the money is one part. the primary part is linking bio to "knowing that you know". when you do not "know that you know" that is where additional drilling is required in order to correct difficiencies in skills and sometimes knowledge. For example, the record now shows three specific conditions under which you revert to CW instead of using the fruits of drilling. We debrief on these when we get 10 days done.
It IS possible to do the debrief of adding contracts for 10 days. It is a drill to come to understand what the market offers. Before you do the drill you have little recognition of wealth creation and how it can be arranged as an effort to shorten the time before you become rich. These 10 days are like a two week vacation where anyone can bring 2,000 dollars to a destination resort and trade under supervision and by stoking keys (like playing bingo or poker with dards) they come back from vacation with enough wealth for doing what they want the rest of their lives. So we do the debrief first to get straight what the market offers and what we took (it is less) and why we did not take all of the offer. for others this could have been an incentive to work in bootcamp. The incentive would have related to how much money can varios skills levels of trading really make. beginner leaves a heck of a lot on the table as we are seeing. we could make a family is equity curves by trading the 10 days on all seven levels of skills; each one has a higher yield. Do you see that Mark Brown wants a trading record to reverse engineeer? He notes that his phishing hasn't worked for 8 months. his calendar must have a lot of days crossed off. What would it look like with me trading his capital at his IB for the duration of a contest. It would look like any reverse engineeering hotshot wouldn't believe it was possible to code it up. If I began with 100 contracts the IB would be on my case in no time becaue of the big whoooshing sound on their servers. We have two days to go.
I haven't seen the logs for day 8 but it looks like you did a "wash" trade to get bac on the right side of the market. While we do not use a position's price as a referent, it does become clear that it is possible to stay on the right side of the market, at worst by doing "wash" trades.