Quote from NoDoji:
I wish Volman's book had been around before I first read Brooks because Brooks was more confusing to me than Farley, which I didn't think was possible. But somewhere in there as I spent half an hour studying each little chart day after day, a few ideas stuck and I began to see in real time some of the things he described.
I read Volman quite recently and his book is simply fantastic. It provides a real solid foundation to price action and risk management, and his writing style is quite entertaining.
You won't take any of it all in until you experience it at the hard right edge again and again.
My biggest complaint about all these trading books is that they only seem to post charts that show what happened next. There needs to be a book of standard price action setups at the hard right edge in all their variations. This could be followed by the "what happened next" charts showing both successes and failures.
My 2 cents.
The bar-by-bar world is where its at.
The hard right edge can be moved to the left and some clean space (the future) made available.
Today, the interaction type of conversation has moved to Skype and GTM. ET is unable to deal in real time anymore.
My view that to fast track working students, the best compromise is to deal with "looking for" a term that describes WMCN.
All bars have an identity.
I move over to the right of the Present and explain what is there although unseen.
This means everyone in the GTM is focussed on how to take profits by carving in the very near future.
For stocks, the auto sort lists work as terrific "looking for" lists because the column sort brings what stock is being looked for to the top of the list always. Coding the column logic makes this possible.
This thread is about a topic used by risk takers. After a bet is made, they manage it instead of doing bar-by-bar analysis. The example is of a guy who mentors on the subject of analysis (when on the sidelines before getting to a bet). When in the market, this mentor doesn't continue to teach analysis; he switches to teaching the risk management method of "HOPING".
His broker, assured that he could not go beyond his account value of ZERO. A very objective broker management process.
Finally, I am documenting what I do. For my 56 distinct elements of the market bar-by-bar stuff, I have made snagits of six examples of each. They show how getting to a specific element happens. I think I will add some additional snagits of what happens after an element occurs. I'll call this what CW calls it: "Confirmation".
Most elements have logic "kills" and/or logic "gates" associated with them. I collected all of these as another dynamic set of snippets so the reader could dwell on these in isolation of thought.
