Bride of If You Can Draw A Straight Line

niko · Oct 31, 2013

Quote from Hooti:

Let's see...
On Niko's chart I missed his #1 trade, but entered on the next retrace.

In his #2 circle I saw both the entry's marked but to late to trade them. So missed out today.

I actually tried a re-entry short at the bottom of his #4 circle, and exited quickly.

After that suspected chop and stopped.

My lines look virtually identical to Niko's. So some synchronicity! Just wasn't fast enough today.

Is great that we are in sync, regarding what you wrote, I place the order before the bar forms (seconds before the end of the minute) that forces me to be focused as soon as I see something is forming, and that is just after the line is broken.

Why short at 4 if the line was broken?

Hooti · Oct 31, 2013

Quote from niko:

It is only 90 minutes (9:30 to 11:00) so forget about everything else and focus, you will see that it is not a matter of speed.

In the first 5 or 10 min after the open, sometimes I just don't make decisions fast enough... at least it seems that way. Other days, it just flows at the tip of my fingers.

niko · Oct 31, 2013

Quote from Hooti:

In the first 5 or 10 min after the open, sometimes I just don't make decisions fast enough... at least it seems that way. Other days, it just flows at the tip of my fingers.

As you are testing, you could validate that with the stats you get out of your own experience and define the starting time.

dbphoenix · Oct 31, 2013

Quote from niko:

Thank you. Just to make sure I am in the same page. Here, after the break of the SL at 10:10 and the failure of the short below the 50% level (if one took it), the chop area would be between 60 and 71?. I see 60, because unless sellers manage to make a LL below 60 the downtrend is over.

Defining chop in hindsight isn't going to do you much good. You have to see the conditions as they occur: shorter bars (or "waves"), inability to make headway, overlapping bars, slower pace, hesitation.

It isn't about bars and lines; it's about behavior. But until that becomes clear, the bars and lines will have to suffice.

niko · Oct 31, 2013

Quote from dbphoenix:

Defining chop in hindsight isn't going to do you much good. You have to see the conditions as they occur: shorter bars (or "waves"), inability to make headway, overlapping bars, slower pace, hesitation.

It isn't about bars and lines; it's about behavior. But until that becomes clear, the bars and lines will have to suffice.

Thanks.

timokrates · Oct 31, 2013

Quote from dbphoenix:

Defining chop in hindsight isn't going to do you much good. You have to see the conditions as they occur: shorter bars (or "waves"), inability to make headway, overlapping bars, slower pace, hesitation.

It isn't about bars and lines; it's about behavior. But until that becomes clear, the bars and lines will have to suffice.

In combination to what game mentioned, could this chop have been expected because it took time and effort to reverse the strong downmove - in hindsight :-)

?

dbphoenix · Oct 31, 2013

Quote from timokrates:

In combination to what game mentioned, could this chop have been expected because it took time and effort to reverse the strong downmove - in hindsight ?

In this case, you'll notice that price spent 13m futzing around the bottom. This is hardly a V reversal. It then shot up in a single bound to 70 and went . . . nowhere. This is not the behavior of rabid buyers.

I suggest you find examples of chop and work them backwards to their beginnings, then replay them forward.

Hooti · Oct 31, 2013

Quote from niko:

As you are testing, you could validate that with the stats you get out of your own experience and define the starting time.

Thanks Niko, great advice

Hooti · Nov 1, 2013

Quote from niko:

Is great that we are in sync, regarding what you wrote, I place the order before the bar forms (seconds before the end of the minute) that forces me to be focused as soon as I see something is forming, and that is just after the line is broken.

Why short at 4 if the line was broken?

I had drawn a line up from the 10:02 bar similar to the one you drew in at 10:10. When it was broken, was thinking possible continuation or double bottom off the prior broken line you refer to.

Hooti · Nov 1, 2013

Quote from dbphoenix:

Defining chop in hindsight isn't going to do you much good. You have to see the conditions as they occur: shorter bars (or "waves"), inability to make headway, overlapping bars, slower pace, hesitation.

It isn't about bars and lines; it's about behavior. But until that becomes clear, the bars and lines will have to suffice.

Yesterday my brains just weren't working like usual. All the same, watching your comments was greatly helpful. Especially this one.

It's like the layers on the onion... one more layer went down and the 'behavior' part made sense in a way it had not before. I could kind of see it everywhere moreso. Thanks for your patience.