Quote from RoughTrader:
Jack, spyder, or other experts on SCT:
I'm making good progress in coding channels, starting with tapes. There are several bar formations I have questions about. They are illustrated in the attachment.
At the start of a new session, as suggested by bundlemaker's video, we wish to use at least the first two bars to make a tape. My concern is with the formation of large "outside" bars:
1) If Bar 1 is "inside" of bar 2, these two bars cannot be explicitly used for a tape because H2 > H1 and L2 < L1. Do we ignore bar 1 and start taping from bar 2?
2) If Bar 1 is a wide-range bar, and we have a succession of bars that are inside bar 1, do we also ignore bar 1 and start taping from bar 2?
Thanks,
RoughTrader
You are doing a super job. And for several reasons.
The approach we are using in ET is to help people advance through about six skill and knowledge levels by proceding from a core and adding shells.
Naturally, you have begun to focus on one of the independent variables.
Because we are advocates of "knowing that you know", there are serious and imposing restrictions invloved in meeting the standard of excellence required to move up the acquistions line.
At all times we keep things "hard" and there is no "descretion" or what is sometimes labelled "subjectivity". You understand that.
A lot flows from this stance and and its requirements.
I am going slowly here.
As 2007 winds down, I am more and more returning to my basic job of solving problems and helping others. There are some very unfair things going on with respect to our citizenry, who without exception, have stepped forward or followed the rules for their entire lives.
For me to keep my level of focus on those, like you who are working, I am going to use ignore when the opportunity arrises since I, at this point, do not care to engage in anyway with any persons who are not making bonifide contributory efforts on behalf of ours rationally seeking support and help.
To that end, I am going to be telling you in this thread each person I am putting on ignore and why. You can then profit from their absense.
Hypotunuse and all of his aliases are going on ignore. I made my last post to him as a matter of providing a valid viewpoint on a serious subject. He used it as fodder as usual for his personal interest in posting stuff at my expense. Here he is posting erroneous information that is a result of his way of twisting objective factual information to serve his audience and he is unable to reason rationally in many aspects. With respect to your work, ignore hypo because he is incorrect, and leading you astray.
I am also putting the 22 person on ignore. He is not making rational and logical decisions and he does not have contributing orientation either.
Other obvious choices for ignore I am not going to mention at this time. I hope everyone I put on ignore returns the favor.
You are doing a great job.
What you are surfacing is a body of consideration which is the primary set that causes failure in almost all trader efforts that are ever made and especially in edge trading.
You are now able to deal with cases. And you see that several other articulate and rational people here do the same. Maintain your focus.
The goal is to handle the market's offerings all the time and in a timely manner. And concurrently, you have to deal in a mathematics that tells you:"you know that you know".
I am reporting to you that the journal has in its pages the total systemmatic way to go about dealing on every level all the situations that can possibly come up.
As we wrap up the SCT journal on the last level of skills and knowledge, we focus on the fine level of monitoring and, in addition we keep the tools in the quiver defined and clear. The same is being done in PVT.
I will keep current on this thread as best I can. You are conducting a process and you are going down the line in an excellent way of working. I will get you to ignore inputs that are off base. It will also simplify my life from here on out too.
