Slice 2 debrief Thanks for all the additional feedback, Jack. An important distinction I need to make is the one between the 5-minute level Traverses and the faster fractal traverses. I will now begin the appointed exercise. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2174230>
Even though I know how to annotate tapes (as performed many many times at Beginner level) I succumbed to convenience in using a tool which greatly facilitates tape drawing at the expense of that particular inaccuracy that can be noted on all of the tapes where bar 1 has a smaller range than bar 2. The tool is Pepe's Channels Tool, part of the extremely useful (and generously provided) toolbox for NT. Jack, I will do the exercise in good faith.
With all due respect, I leave for work in under six hours so cannot do the exercise nine more times. I am happy to stop using the Pepe_ChannelsTool. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2174335>
Here are some comments on the redo chart 1 of 10. Notice, today, that the market did not "test" support. Midday is not where testing is done. There was no "covering" at the end of the day on bad trades or limit orders gone astray. On a print what is the measure of scaling in with one EOD exit. Which trade makes the most profit? How do you write to simultaneous equations to deal with total capital in the account? lol.
YVW. I lost that commentary once. Ugh!! The point was to provide a drilling reference to do the day 10 times to get the routine of annotating down cold. As a person has annotating in hand, then he has emotional support, comfort and confidence as his parasympathetic regime. Given this (Making it a given) as a bottom up synthesis of the market's "speaking or TELL ing, then a person can do the M cluster of information. From this EACH row of the log grows very rich in A D A. There is a knee in the learning curve. It is reached when MADA is in hand stemming from M clusters (data subsets of a finite M set) that yield support, confidence and comfort. I know it sounds like I am bearing down on Noexx in a way that is harsh and like hitting a mule with a 2x6 or the metric equivalent, BUT there is a quality requirement and a requirement to do the WORK. My kids could plow a furrow on a tractor at night. Why? Because it is important to not mix subsoils with topsoil. Running straight at full width and keeping the three point hydraulic lift above the Pennsylvania yellow clay means that the soil will keep healthy. Our place was ploughed before the 1750's and it was done right all along and it was enriched with animal fertilizer and none other. What we are doing here is ploughing with regard for the future by doing it right from the first opportunities. I am suggesting that tough times are ahead for most people. On the other hand these markets are THE best for beginning traders since they are so immaculate. I am working to drill right on down to the sources of the difficulties. I asked but was not given annotating from the ground up. I could not get it until I personally when through EVERY bar to point out the WORK was not being done in a boot camp set of drills. By being SO persistent in NOT building the mind WE have postponed and postponed getting on with skill development for quite some time. I am tired of being ignored and not having a person work as hard as I work to lend support to that person. I really do not feel good about how I am being treated. I am not referring to detractors and I am not focussed on my personal health. I needed a forthright manual effort to do drills to build the mind. I needed a person to develop their long term memory from short term repeated drills to establish a "first recourse" during real time under present market conditions. You see here and now what is was like to do redo the day just once while paying attention and having a thorough and supportive reference that had to be done quite a few times. IT IS A MAJOR IMPROVEMENT IN MANUALLY PROCESSING WHAT IS GOING ON AND "KNOWING THAT YOU KNOW" AT ALL TIMES BUILDING FROM THE GROUND UP. Logging will take longer to assimilate it looks like. The internals being completed means that a chart has finally come into view fractalwise. Level 2 is surrounded by level 3 and level 1. With this in hand we can begin to deal with timing the market. Running at a little under half a mil on a day like this is a good performance. getting to expert is not that far away. After a person hits the knee of the curve, then it is just a case of adding tools to the tool box, manually at first. This is not an ATS operating boot camp.
Thanks so much for the recent posts, Jack. I'm sorry if I've been mistreating you or undervaluing your advice or repeated suggestions. Please know that this was not intentional. It was very comfortable drawing the lines by hand on a print of a chart, and felt very different to the realtime annotation. Especially with the zoom that encompassed the carryover channel and IT trendlines, each bar was quiet and placid and just doing it's job, and getting on with it. Certainly nothing that could cause the freakout of 'twitch'/OODA/automated-ATS-style trading which I continually experienced during the realtime annotation on Wednesday. As soon as I thought I had a point 3 I was intently looking for an FTT, rather than sitting back and being attentive to the market's tells. In particular, I wasn't waiting for a VE or a dominant internal to occur before I began to look for an FTT. Lots of observations were premature or just completely off. I wasn't sensitive to non-dominant internals signalling the start of a non-dominant retrace. I also realize that if ADA is truly conducted when M is certain, then, at this stage of the learning curve, the action will not occur on the same bar which produced the signal. I have a couple of questions which will be easier to illustrate once I can post an accompanying image. In particular these relate to describing the range of dominant internals, and understanding why and when they occur. The exercise was very valuable and I am keen to resume it after work, adding logging comments on the 10th run through. It is also amazing to think that after market action is collated on a series of logging sheets, quite literally weeks of information could quickly and easily be reviewed.
I've been making my utmost effort to address this. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2175341>
Redo 2 Mistakenly thickened the trendlines of the rocket tape <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2175493>