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Trade 1: Short 1470.75, cover 1466.25 +4.50 pts. RT

Each day gets better and better. Lots of points to pick up today. RT

To each his own, but, I can't see how you can possibly concentrate with a screen that blue. RT

I think I'll call it a day. Used the 2m YM to get better timing on entries today, man that helped a lot to "see around the corner" in the ES. RT

Well overall wasn't a terribly difficult day. I'm off to the movies with the wifey in a bit. RT

For sim I'm using Ninjatrader with IB as the data feed. Ninja does a good job simulating fills. If you want to buy at limit, ninja won't register a fill until the ask meets limit with sufficient contracts to complete the transaction. vice versa on the short side. Personally, I don't see any...

Yes, you are correct, my bar annotated "3" is an ftt for the trend to the downside. An ftt can be a point 1 OR a point 3 for a new channel, depending on how the channel reversal unfolds. The key item here is the volume. It (PRV) is clearly picking up compared to the end-of-bar volume of the...

In the yellow circled area, you see the bar that I have annotated as "3". The bar is overall red, but there is a upward bounce component. The following bar shows PRV comparable to the end V of the previous bar. That previous bar contained the bounce, so the actual "down move" volume is less than...

That being said, while I was typing I missed a perfectly good pt.3 entry to the upside :mad: RT

Tums is right on the money (pun intended). I think "success at EACH step along the way" *still* isn't getting through to some or *still* isn't emphasized enough. - Success at realizing the PV relationship - Success at annotating basic tapes and point 3 channels - Success at confirming...

Continuing with the discussion of tapes, the snippet of price action illustrated in the attached occurs occasionally (actually, more than occasionally). What we see is the end of a pt. 3 channel and the birth of a new one in the opposing direction. What can happen is the tape that breaks out...

Two points. I think throughout this journal, what has been under-emphasized is the third component of non-dominant price traverses. It's been written ad nauseam that non-dominant price traverses can explicitly oppose the *direction* of the dominant ones, or can display overall lateral...

Umm... yeah... Just what he said. J/k. Actually, I'm an EE so I understand what you're talking about (it's called the Nyquist sampling theorem). What I don't see is how that relates to trading. Basically my argument is simply this: We create channels from tapes and price formations. From...

when I was starting to learn this method, and code my auto-tapes, one of my errors was assuming that a point 3 channel had to have an up-down-up tape sequence, or the inverse. I then started noticing that it is in fact more subtle than this. What I found is that not the *sign* of the slope, but...

Nice gooch. This is the point I'm trying to make. When you have the proper shift in volume along with these little "pockets" between the price bars and the RTL, you know a 1 and 2 have been formed, and are waiting for confirmation of point 3. Spyder's chart shows the down-channel as just a...

Nice. So the blue lines I have drawn in the attachment: are they tapes, or are they pt. 3 channels? RT

Following along this discussion, I have a little exercise for you guys. Looking at the attachment, how would you annotate the price and volume snippet? RT

as a rule of thumb, when there is one pt. 3 channel followed by another in the reverse sloping direction, I don't draw higher-level trendlines. To do so would take me out of my intended resolution of trade. In the above case, the print gives a nice visual cue for a upward-sloping triangle...

Looks like pt. 3 channels to me... RT

My chart today looks similar to a lot of yours. I have a down-channel midday that some of you guys don't though. RT