Sounds like level 2 is a good ingredient to add to the mix. Or maybe at least what has not been filled by level 2 or a indicator of level 2. I have looked at this level 2 for a few days in the past just to see it. Even blindly traded it. I had high hopes for it, it was as you say the future, but I may have been looking for the wrong thing as you say. gauging the speed may have had some use. But we are both looking at different time frames now. Maybe I can see why you do not need to back test and all that. You have pulled me back in to discovery stage and now you are pulling me back it to a prop firm ! This is not a big issue money is money. But going to a prop firm requires 9-5 commitment.(Even if i work from home). That will stop discover stage and full focus would be needed as it is action time. To go down that path, quadruple the confidence (not in my self but the system) would be needed. profit should roll in after a week. Seems a bit unlikely but as always I am following. Do you know any good prop firms ?
We are all in cages my friend. Some good and some bad, each has its thrown bone until someone comes along and notices that they can intercept the bone by hiding behind a rock. Then, to his surprise, someone else intercepts the bone and puts bricks around the bones trajectory. The interceptor now has to buy the bone and sell it the monkey,
I appreciate the reference, more so that I can say it is from you, but not all are as helpful as you And the crew may have expectations. If at all possible, it would be nice if you leave the offer on the table for when I am ready to accept it productively? My mind, as you can see, is always opened (and unfocused) Your beemer rings a bell in my head of not too long ago, maybe I had ordered my cubicles from the same guy you ordered your desks from. Lets have a look with an open mind... You are telling me: To understand I may have limited myself due to my environment.. To understand that, and accept what I cannot change To look at what I can change keeping an open mind. To understand there is another way which is controversial but not deduced. Up to here I am fine. Adding to my library. You are telling me to deduce/chuck my pitch forks and giving me a state of the art bow and arrow, even pointing me to somewhere that needs to be gone to before the shooting range. You told me to keep an open mind, not to chuck but rather deduce. A possible break up of traders could be : 45% Stay in the phase I am in and never commit to decide 45% Commit to decide a few times and run out of steam/money/ 1 % Decide to commit and luckily fall upon the exact right thing to commit to. 3% Try and try and try and try till they find 3% Create from scratch and find it is better to ignore the questionable and reinvent the wheel as there is only few wheels. Open mindedness is a key factor to success, though it is also seen in half of failures (above). 10% of failures are due to misinformation 50% of failures are due to lack of good information 50% of failures are due to improper use of information. This is not normal. If I youtube how to make a "soda can alcohol stove"I will have a soda can alcohol stove in front of me (maybe with a few band aids) Ooda is not needed. I am sure you understand that misinformation is not floating around to hurt people, it is there for other reasons. Here we have a fork in the road. one side is the stats side (I said to myself, lack of this is the reason for low success). It is backed by both marketing and other traders. The other side is the scalping side. It is sold to the greedy quick buck guys usually early on in the learning process. However, it is also used in the prop world ((though they have their turnaround(ironically based on stats) and needs.)) How can one be deduced ? How can we assume any are good? how can we assume none are good ? This is what goes on in my head. It is deducing time. and deduction starts with a plan and creation of an idea to deduce. Money is Money. Warren Buffet, or some coke head (by no means do I mean you) it matters not. Each way is equal at this point. both have different cars but I go where the money is. I am open as is needed. If you saw what I drive today, you would know never to judge a man by his car. At face value there is a car or debt. An unreliable form of measure. Luckily for me, I am lazy, I will sniff around and scroll through things reading here and there every time colour pops up. I end up looking at total pages it takes to explain something and ask myself if: I can go through the information. develop needed software and hardware. cost of tools. Time to learn and implement I must deduce the simplest first as it seems faster that way. but more so, secretly, I hope simple and fast will prevail. The reading involve in your idea is too much, add to that references you made to other books and information. Add to that all the posts. I have in my hand a pitch fork and a bow. You say the bow is better. Its made of carbon fibre, laser scopes, heat sensing arrows and targets weakness in the market. Chances that I shoot one and it does a u-turn are high! I need the non self destruct system to be simple to learn, not perfect, just as long as the arrow don't kill me. You spent time with me, I appreciate that, you taught me new ideas. But it is time for me to be honest and clear with you as you have been with me so that you can say your time was well spent. (which it was to me) If I choose your route, I search your name. If I learn somewhere else without others help I will let you know and ask you where I should go to try the bow. It is only fare and expected, many may not understand but I do. Those who ask why are blind to the what. Your system is simple. The presentation is in a way keeps the reader hooked and opens their mind to create interest cause that is what is needed to most. To an estimated 6 % of the population the presentation is too interesting and takes one on too inner tangents. (Have you seen the new bows and arrows out there? wow!) I'm greedy, I like money, and I usually go get it in the trenches. Again, it is hard to judge ones intentions, either way I think yours are good (even if you are just playing the probabilities). The "why" does not matter. But if I have miss judged I hope I have not let you down. Its been fun, I hope to trade the Hershey way and have to drive to get to my mail box. More importantly, it would be nice to see that effort, begun to bring in results like it used to. Hope you are in good health
I know it is just a trade, one of many but since I made a call in real time here is that Pitch Fork break out, with a bounce off near our high volume bar rectangle. ...
traitor786, I read your post. My Reader's Digest version is only a few pages. Deduction starts with an empty sheet of paper. A one bar P, V chart. All you see is one thing. Both bars are constructed of small vertical parts. All you see is that granularity is always present in every bar. For ES, the granularity in price is a tick that has characterisitcs. Granularity in volume is called a contract. All trading begins with one contract since that is the SMALLEST way a potential trader can begin. From that point on the addition of contracts is EARNED by having profits. When you make enough money you take out your original capital and just trade with profits for the rest of your life. This is done to settle you mind and emotions into a regime of money making only. One sheet of paper with a pic represnting one slug of information. This is Neuro Linguistic Programming (NLP).
Palce a new sheet of paper before you. We will now deduce the possibilies for two slugs of information. No one can figure out these cases if they do not recognize the GRANULARITY involved. Two pricecases make money. The others could but they are more important than that. They gate and kill volume measurements. Now you have learned two very important market variables: volatility and overlap. Look at your cases you have drawn. The second bar is named by using mathematics and reason. You are now using a Management System. The adjectives that modify the system name are Data Base and Relative. Threfore, in English, you are beginning to deduce a RDBMS. To Google the drawings on the second sheet of paper, you type: "Clean page two." the next sheet will be for the associated volume.
As you see we have dumped statistics and scalping in the garbage can. A new to you thrid choice has appeared. DEDUCTION, a mental process. Since all slugs of information are named, then it is possible to be in the market all the time and always be on the correct sidee of the market. The percent of poeple who get this is statistically insignificant. If you can always be on the correct side of the market, then you can take the full offer of the market. There are 11 volume cases. You cannot draw them. So do not try. Before you can draw the volume information, you have to lay out the system completely.
Systems are composed following the principles and rules of mathematics. We have to deduce the system from its parts. Dodd and Granville did this in writing but they did not convert theri writi8ng specifically to mathematics. There are two principles for system design in mathematics. 1. completeness is required. 2. working "in kind" is required. This is where potential traders substitute striving the wrong way for what eludes them completely: "consistency". A system has to be complete and "in kind" I use the form If, THEN. And I use only gerunds to establish relativity. As has been stated convincingly: JH stinks at writing and communication. Were I to choose high density, my posts would be brief. But I worked for the military to determine just how dense information must be to optimize commmunication. Redundancy enables the best communication since people are not cast from the same mold. The system I use is PEP and it has two hypotheses amd their parametric measure is a vector. The HS is orthogonal. So you can chuck your reasons why people fiail or succeed. All the people who fail go away and almost no one is left. Those who are left do not make money trading; they make money through fees and commissions in the Financial Industry. I am going to change the way money making can work for those who have the power to do deduction.
The form of the PEP HS looks like: 1. IF is ing, THEN is ing 2. IF i s ing, THEN is ing You see four blank spaces. Fill in the words from these choices: For variables: price volume For relativity: increasing decreasing changing continuing. To trade, this means a person has to NOT use up/down but must replace it with right/left. By now you see most traders use induction and they do not use deduction. So most traders get to learn failure and then go away. I have 55 years into trading so far. Tomorrow I am 80YO.
So now you have deduced the paradigm of all trading. This yields the fact that there is only one pattern possible in trading to make money. Trends have to fail within their boundaries for it to be possible for market cycles. This is crystal clear and invariant. Only one shape is possible as a container of the variable for making money. The minimum points for determining a planbe two variable spatial container is three. These can be named to differentiate their being and purpose. So now you can construct the mathematical limits of any process of price for making money.