It appears that you are not using any version of PRV. I KNOW YOU ARE CONSTANTLY RECHECKING. I try over and over to get you to do MADA. I also took a first pass at how the market trader partnership is based on U, A and V. Check the three cicles post and see you in left circle and market in the right circle. The middle circle you drew in between was the partnership which has U for Understanding, A for acceptance and V for Value noted in the middle circle. A ring was also drawn in colors to illustrate getting "out" of mind games and "into" feeling games. Trust does NOT come as a consequence of using the mind it comes as a consequence of feelings. You do not do MADA as yet because you, as yet, do not trust the market. SCT is done by MADA which is four separate and different thought process done in the context of TRUST. You will find out the market is always right in the partnership. Since it is, it is a good idea to come to understand WHY this saying is TRUE. I made an effort to explain a serial process to you using: TELL, ACCEPTANCE and VALUE. The market does the imparting of information. It TELLS, the 90 degree point, in the ring you drew. You do not ever have a dialogue with the market. It is a one way street from the market to you. The market does not know anything about you or your mind. It DOES NOT CARE EITHER. As you get the TELL it comes to you vie the senses. 10% of your perception is this input coming from the market. you provide, by inference 90% of the perception. It is very goood that you DO NOT TRUST your perception simply because your inference is kind of less than competent as a matter of all of your history in growing your mind in all the various and diverse experience you have had. Reflect of your three circle connections to all that variety and diversity in your life. You got the middle cicle over and over and they all had U, A and V in them. Acceptance is done as a one way street too. You ACCEPT the TELL. There is NO disscussion about the substantive content of the TELL. If and When you are cpable of this sequence of TELL coming to you and ACCEPTANCE going out from you, then the space in the middle circle has TRUST also coming out from you because you have TRUST because you accepted the TELL. You "say" this above BUT what you do is repeatedly look back for single elements of data and thus precluding MADA to begin to function. PRV has gone through some stages of development. At first it was the manually estimated final value of the volume for 5 minutes. The estimate was made as I described. Now the bouncing ball or it's more sophisticated sucessors do the job of estimating. The estimated total and the completed portion provide even more; derivatives are easy to take as time passes for the total, the completed, and the difference between the total and the completed. Just as price movement surges and stalls, dips and retraces, so do the derivatives of volume with respect to time. these can be used as binary vectors as well. The 12 seconds is from the beginning of a new bar on into the bar. this 12 seconds affords to you and for you the ability to get the TELL, return your ACCEPTANCE and you putting TRUST into the partnership. If and when you begin to understand each aspect of the information the market, unilaterally, without discussion with the market which doesn't listen, TELLS you, then your feelings will begin to mature and ACCEPTANCE will show up in the trading space. After ACCEPTANCE comes VALUE. The partnership HAS value. In business and in relationships, the market is NOT there but another person is there. That other person does the same as you do. He/She gets your TELL. then all that TELL is ACCEPTED, regardless of its ANYTHING that could be used to measure it. No measures are taken. It is just ACCEPTED. Often a learning drill is done by small groups of people so they can experience this. A circle of chairs is made and five people sit. A person drops a sheet of paper in the middle. In any order the persons express their feelings about the WORD written on the sheet of paper. NO one is permitted to respond. They all LISTEN to the TELL and ACCEPT the TELL. After 10 cycles of this each participant has and understanding of TELLing without response AND ACCEPTING without measure. This is all done below the neck line and NOT above the neck line. The vocal chords are not in the brain. Beginners do MADA all day long. Advanced Begiiner is the same. ACCEPTANCE goes on during M and 4 to 7 trades take place for Beginners. Up to 15 trades happen for Advanced Beginner. There are 81 bars and so far you feel impelled to fill in a row on the log every bar. If you look at the bar column on the log it is in the last A of MADA. There are no consecutive bar trades in any skill level that will come up for quite a while. All sets of adjacent bars yield the same result, roughly speaking. Currently the correct reversal is more than one bar prior to the time you log the "real for you" reversal in the log. This is all satisfactory for the skill level so far. We are working to get to doing SCT trading using the P, V relationship. It showed up yesterday for the first time as a visual that wasn't working because of several reasons you noted. The P, V relationship is a TELL from the market. It was well written up in the 20's and 30's of the last century a couple of centuries after the invention of the printing press and telephone and Western Union. My son's residence had many circuit boards and coils in the attic along with 50 or so old paintings. their is a plaque in front of the rsidence. It reads: Samuel F. B. Morse...blah blah....... By the time of magnetic relay operated serial transmission and printing of financial data, people HAD to learn to TRUST the tape and ACCEPT what the market spoke. Trust gives VALUE not the measures of the mind. So the hurdle you have invented for this part of your life is becoming more and more differentiated in your mind. Too bad. This is a typical freakout hurdle that comes from violating directions to take clusters of visual data and write them in simple columns of M of MADA. Further I am working against this invention ahead of the invention and to head off all inventions. I have had to ask you to spin 180 degrees to face away from your display to do the three separate and different mental processes of A, D and A of MADA. So far I have been, as usual defeated. There is no way you can be understanding the directions and, still, you can come up with this invention. Actually you resurrected it from a lot of other connections you have been doing in your past, including the prior trading you did before the boot camp. I know I have to repeat my informative substantive content to you. I know why too. So have many many others in your past. It is very tough to do critical thinking when what you are handling is something you do not trust or have a relationship to. The MOST counter intuitive thing about the market is that every day it is willing to give you so much more than you can imagine and it asks nothing in return in the partnership. Look at the unsquashed chart on which we are trying to put curves. We are putting up points and not even dollars to compress it. It is tough to shape a vision of the market. Do you notice people still post about their trades on a one contract level. How can people be posting about 1 contract trades???? SCT is based on how the market works. the bridge between you and the market is TRUST via ACCEPTANCE of the market's TELLS. VALUE of the TELLS is expressed on the skill and knowledge curves you are now charting. Drills build the bridge. Stop creating hurdles instead of doing drills. I am personally preventing you in everyway I can from doing more than one row per bar. Shall I state an instruction to do rows for odd followed by even bars (two bars per row) to cut the 4 log sheets to two sheets? I am trying to stay ahead of your hurdle building program. If I can stay ahead of it, then you will not go to already differentiated places where you keep the hudle collection you already have. Google Bob Hoffman and his aliases to take a look at classic hurdle building.
These things ( and ) on accounting sheets mean the number is negative. I did a combo of theoretical calculus and physics for a while. Student's first assignment was to design a water flow stream guage. It was difficult because the curl, divergence and gradient inherent in hydraulics deals with many orders of magnitude. On the nexy few levels the semi log will begin to settle down.
The pattern number is infinite but we cure that by going to binary vectors. I used to, when computers were slower than the mind, plot the paths of PRV on a sheet for each five minute bar. Zones appeared soon as you would expect. today they appear as rays on the volume chart. As you know everything but drills leading to understanding the P, V relationship is OT (off topic) since we are working smart and have little or no curiousity.
This post jumped onto the screen prematurely. See repeat below: The pattern number is infinite but we cure that by going to binary vectors. I used to, when computers were slower than the mind, plot the paths of PRV on a sheet for each five minute bar. Zones appeared soon as you would expect. Today they appear as rays on the volume chart. Attached is one of the PRV charts from the files. Ezzy posted the preflight check for the day after this PRV in 2003. At the top you see the 5 minute values. Near begin you see a bar number. a line is scribed upward in the pre determined values for each column of PACE. The horizontal levels are for time passing (second column for convenience). Because this was used daily with those I mentored for the day at that time, you see vertical lines drawn for the skill levels that can use the various paces. The horizontal arrows below the chart body extend from extreme volume on the right down to and as far as the volumes that are risk free for that level of trader. Some lines do not make it to the top and other lines start with surges. By displaying PRV as an area, using velocity as the locus, you can see the surges and stalls very readily as horizontal line shifts on the way to bar completions. surges are movements to the left and stalls are movements to the right. The lines in "noise" at the right relate to VDU and DU times when trading is most risky due to thiness of the market (potential lack of liquidity.) A lot you see here was a contributing factor to using sports memory in trading by learners coming up the skills acquisition ladder.
Here are two more PRV charts. This is the next day and Ezzy posted the preflight check on this (28OCT03) Look at it after you see this chart. The first one I will put up just to get it showing. The next one will have text describing the two PRV charts. The point being made is how to differentiate the mind so it can see the market and how the market works.
Here is the story. This was an FOMC day. At 2:15pm Greenspan scheduled an announcement well in advance. On the first post you see the pre and post bars relative to 14:15 NYC time. The market is very slow and volume is low with people on the sidelines mostly. some people who do not do preflight are in and have stops set and those on the sidelines do put in limit orders and a lot of these are on the "wrong" side. Both sides are the wrong side on an FOMC day because three cascades OCCUR. THE LATER CASCADES ARE ON THE FIRST CHART. this chart shows the BEFORE and AFTER of the announcement. BEFORE is just noise. 30 seconds into the "Greenspan" you se the clear surge in volume 14:15 bar. It continues on the next bar (14:15:59) the market data was delayed so I noted the delayed beginning of the volume bar. Now go back to the first chart for the 28th. Here you see the following CASCADES. These are stops being turned into market orders which are not fill anywhere near the intended values. they are also limit orders that have very large slippage because when they turn to market ordes, the mino9rity is so thin no one is facing them. this is all odd harmonics trading on the fine level 1. It shows as rockets, of course, and it is also intra bar. If a person does this type of work he gets to trust the market. As a person passes through beginner and advancedbeginner he earns the right to add contracts form his increased skills. Only experience on each level will allow a person to annotate, log and trade in a timely manner. So far in the month of bot camp you did not work to gain experience in real time. Here in these charts you get to see what it is like to do MADA over 8 times in a five minute bar. Volume leads price and all indicators except the YM, the DOM, S/S and tic charts. As you see, we are beginning to ease into knowing how the market works and how through drills the mind is differentiated. Obviously I have to take heat from those who have never seen the market and whose minds are undifferentiated in terms of the market movement. You may be able to imagine what it is like to work with programmers who regart this as LALAland. Drills are how the mind is built. As a person becomes able to recognize the market's offer, then he can reason through the value of doing the work, working smart and taking the market's offer on the appropriate skill level.
Thanks so much for posting those prv charts, Jack. Given that volume is the leading indicator, the charts show me both the predictive value of PRV and the consequent redundancy of repeating Monitoring. I think that would qualify as an AHA!.