The open and the entry of the day. THE OPEN HAS A SEQUENCE. At open bar 1 begins to form on great volume. It takes several bars for the market to synch. It may look synched but it goes out of synch and then back into the synch offest. There is more market NOISE at this time of day than any other. SO it is risky to be in the market before synch unless you are skilled. Here we see the carryyover traverse in yellow It was pink and I did some housekeeping) and the beginning of the day in this context.
Slice 2 Didn't get a volume confirmation for the point 3 up of the 'faster fractal traverse' at 14:45, so didn't consider it a traverse for slicing purposes. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2173789>
...follow the 8-stage debriefing process when comparing to Spyder's chart, highlighting areas of agreement, and being attentive to sequences and the correct application of the 7-cases... Thanks for pointing that out, Jack. Sorry I got carried away with the 7-cases when I should have focused on the sequences, as evinced by Spyder's guassians.
Thanks for correcting and clarifying the preflight. Really stresses the importance of continuity and context. This was my incorrect rationalization of the open, which subsequently impacted on the remainder of the day. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2173845>
The open and the entry of the day. THE OPEN HAS A SEQUENCE. At open bar 1 begins to form on great volume. It takes several bars for the market to synch. It may look synched but it goes out of synch and then back into the synch offest. There is more market NOISE at this time of day than any other. SO it is risky to be in the market before synch unless you are skilled. As you saw, there was an OB on bar 3 (and it had an ftt; so did bar 4). I corrected your bar 4 - bar 5 annotation. Do not make this mistake any more. I lost all but this part of a long post (ET timed out). From now on I am going to work in Word and transfer writing to ET. My health is poor at this point and those I have supporting my health have put me on notice to report in for any thing out of the ordinary. I have worked to provide you with a carryover orientation. I am going to use this in word descriptions to keep you aware of the CONTEXT of knowing that you know where you are. Gradually your writing, annotating and debriefing will shift over to this vantage point from the CW freak out single element reaction orientation. I am asking you to begin to think in critical thinking in a P,V relationship orientation where you are in a channel that has a trend and its traverses are there and they are either dominant or non dominant. You have that at every open. Lets us proceed. As you see in Beginner Internals, the first two tapes are in a context and you have that AND you have a sheet from me that shows zones for the points that define envelopes. You cannot use the beginning of the first traverse as point 1 because the place where the ftt of the second tape is âout of the zoneâ for point 3. This you do not have available in your mind. Your first recourse is CW freak out. Etc. You are not getting this into your mind because you do not have enough repetitions frequently enough to have short term memory become long term memory. Reading this does not give you long term memory on what is here or on the sheet with the zones. You do not get differentiated by reading, reading anything anywhere. Drills differentiate. Observe that I am differentiated and the people in Iterative refinement are differentiated. The detractors are not differentiated. They cannot read this and understand what it says nor what the chart says. Now bar 5. You messed up the annotation of par 4 to bar 5. I corrected it. Read the seven cases sheet to see how annotations are done. I erased your wrong line and only left the correct lines. Look at it and on a clean chart for the day begin annotating again. Annotate 10 clean charts for just today the 12NOV08 by printing 10 clean identical charts placing them in a folder all together. Withdrawn one chart from the folder and go through the day as you read what I write. You must learn to annotate while you mind is engaged. We want to add a NEW and available first recourse for your mind to go to. Bar 6 does THREE THINGS. They are ALL logged as well. ftt, forms an internal from the subset of internals which is the non dominant subset (you do NOT perceive this; you will by the time you do 10 identical charts for this day) and it has a BO of the RTL of the tape. This five minute period is one in which the market speaks to you. You are told to Continue to do what you are doing: WAIT. Letâs go back to bar 1. It is a VE bar of a dominant traverse of a short trending channel (all carryover) and you are in WAIT which is logged as the Decision as a consequence of M and A completed. Bar 2 is a C and you WAIT for many reasons. It is black and after a VE. You are trying to set up a non dominant opening black traverse if you can AND we are looking for synch as stated a while back. Bar 3 is a relief because it is an OB (internal) so you must keep WAITing. You do not annotate. You log WAIT. Bar three to bar 4 is annotated and there is an error. On two bars where there is a trend indicated do not mark in an ftt as the end of that two bar tape. Always use the third bar of the formation to determine this when possible. You also see that the second tape at this point will not give you a non dominant traverse of the short trending carryover channel (three adjectives modify the noun channel).. You must WAIT at the end of bar 4 as a consequence of the A using the bar 4 M that puts a Wait in the D of MADA column. Bar 5 has both ends put to use and bar 4 only has the right end put to use to get an RTL tape trend line. The price movement in the trend direction precludes the tape formed from being used with the prior tape to form a pair of tapes that yield a dominant traverse in the direction of the short trending channel. All of these words get symbolized on the log so the log, any time later, may be read as short hand to re-hydraulize the condensation of the symbolism. The MADA of bar 5 yields a WAIT. Bar 6 forms an internal found in the non dominant subset of internals that Beginner Internal level traders handle adroitly and another WAIT appears on the log, We have other logging to do, however. There is an ftt of the tape AND a BO of the tape. WE ARE READY TO LOOK FOR A RESUMPTION OF THE DOINANT CARRYOVER TRAVERSE IN THE SHORT TRENDING CARRYOVER CHANNEL. If this shows up, then we will no longer have a WAIT condition. I corrected your bar 6 to bar 7 annotation (the same error occurs on the annotation of the bar 7 to bar 8). Here we discuss the non freak out way a SCT trader does what he does. You DO watch bars unfold and at the END of a bar you go through the ADA of MADA for that bar. A lot od trading has to do with the routine and following it. This means on some skill levels a lot is left on the table. It is hard to get used to leaving the volatility of bars on the table. Similarly it is hard to follow your log instructions (meaning doing a trade on a trading platform that is written on the log). But at some point you recognize to do what the market says through the symbols on the log obtained from the annotations on the chart. Going the other way, annotations lead to logging which leads to trading on the trading platform. A while back jem pointed out a major truth of the market: when the market says to trade you trade; the window on the trade comes and goes. It is not true that once a signal is given then you have all the time you wish to take the signal. Bar 7 can do as it wishes as it forms open go down and BO, retrace and expand to the top, and retrace from the top to the close. New bar, where you have a symbol just written, and it is on the bar 7 row. ENTER. You enter as you lay down your pencil, then you take up annotating while in the market short in the direction of the carryover short trending channel and in the direction of the dominant short traverse in the short trending carryover channel. Bar 8 is just a VE to me so I would not annotate anew tape as you did. I corrected the mistake of what you annotated but I did not remove the unnecessary tape annotation. We HOLD on VEâs. Bar 9 is an internal that is contrary to the dominant traverse resumption and we are far from the LTL of the dominant carryover traverse. HOLD is logged. Bar 10 complete thes open.and allows the Beginner Internal skill level trader to put in the rocket tape RTL that begins the day. USE THE POINT 1 AND POINT 3 ESTABLISHED BY TREATING THE TWO INTERNALS ARE A BAR EACH. After you have this done you are able to do about anything that comes up in beginner internals. The two skills this post allows you to acquire are: 1. Annotating tapes 2. using internals to annotate tapes. As a review this post also goes over what carryover means and how it is done.
Slice 1 debrief Traverses and channels were matched with the comparison chart. FTTs were located at the correct points in the sequence, but the 12:10 bar did not represent a failure of a new dominant to develop, hence the fanned traverse RTL and 2nd FTT of the short traverse are incorrect. I jumped fractals on my gaussians, and have overlaid the correct and noised-out version. p.s. Jack, I hope I have not misinterpreted the instruction to highlight/shade matching areas. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2174109>
save this chart in a folder for the day. Make 10 clean prints of the day. The sheets MUST contain the Carryover I indicated to you in my posts. That is I showed you a channel and a dominant traverse as part of the carry over. This MUST appear on each print. Put them in the folder. Read what I wrote and annotate by pulling the cover from left to right on each of 9 of the clean prints. For the first few read my open post to begin in order that you do as directed and not invent a way to annotate tapes. This is a last ditch attempt on my part to deal with your work quality. There is nothing fifficult about doing things properly instead of sloppily. This is the beginning of Beginner where you learned to annotate. Finally, anotate the last printed sheet by pulling the cover from left to right AND do the log for the day.
This is really tough for me. I try to run a couple of days ahead of what you will be thinking up but I can't really also do the taking into account of how fleeting your memory is and how fast you revert to the CW. Thinking is a challenge for everyone. If you read Spyder's comments, he really expects people to shape up by thinking as they work. I expected you, when using real time, to do as instructed for at least a few consistent days. Why debrief when you don't do the processing? I do not use the word confirmation. You are working in now with certainty to know that you know. It is my opinion that you rarely know that you know. Fanning? Second FTT's? Jumped fractals? You are straight CW. All you are doing is making it up as you go along. Do the 9 clean sheets and post each one as you go along. Do the log over as you do the last (10th) clean sheet. Do it in one sitting and get it done correctly. I am NOT going to go through the remainder of this day using anything you posted.