Quote from Flashboy:
Thanks Grob,
2 quick questions if you don't mind..
1. Where are you gettting your charts from ..my 60 minute chart only goes back to 4/1.. yours goes back to early Feb...
I use pairs of screens on each computer. I use q charts and then transfer to paint then do a save as that works for ET.
On qcharts I do the following:By narrowing the bars and narrowing their separation to a minimum width I squeese the time axis as much as possible. Then I pull the width of the chart across two full screens to attain as many bars as possible on the proper fractal (60 Min in this case to give me several bars a day).
I"grab" this result with grabascreen which gives a file that is accurate and will not owrk on ET. Going to paint and opening it, I then mark it up with what has been asked for by the person from his viewpoint. I save it in a format that works for the place it is going too.
The chart is wide because I needed to illustrate two LT's and also show the cyclic nature of failure to break out of Top of R. I also wanted to show that there is also a rational contrext for LT being a continer for LT traverses and that all IT channels doing the traverses also follow the construction of two parallel lines as a "true" and "bonefide" construct that can be "believed" and "trusted".
In ET, there is a pervasive mindset that the vast majority have which conveys that most people are in a mental shambles or funk as a consequence of mental anguish and stress. This may be a consequence of repeated failure.
By having 6 numbered incidents at Top of R incidents on the chart it becomes sort of clear that something is going on that may be "trusted" vis a vis LT and IT channels.
The illustration is crude and not refined. A viewer here who was helping me prepare to move notes on this stuff, understood it's value easily. for the humor of it, he was showing me how to move files on these trading topics. One location on one computer had 80 floppies to move. Three more machines to go. It appears I am getting surrounded at this point in my life with some helpers.
Since I can't do sustained tasks, piles of stuff are being set up for me to look at aleast.
This chart is a good one to spend time on and letting channels "soak in". All trading can be done with them as simple guides for continually making money with least effort.
I did not imagine that a person could not see a LT channel one way or another.
The 81 bars of each day form up by the same channel drawing rules and you just take money out as I appears.
2. You said you kept hitting T.. what is T?
T appears on IB's TWS trading platform. It is on red or blue colored rectangles on each row of potential trades that you may set up to trade. T stands for Trade.
If you click it, then it disappears and on the Trades box a print of the time and price and contracts and fill type appears. I do market trades so it happens as I say. Others can hit T and nothing happens except that they have a pending fill, if this or that... I put a great deal of emphasis on timing so I get filled at the time I hit T instead of any other thing. I keep a set of rows completed at all times. This selection lets me scale, sideline or reverse at any moment. If I am doing a lot of stuff, like on other machine as well, a person may just set me up again if the set of possible trades is missing rows that I may need for next profit taking. I am known to fudge from time to time; if exactly what I need isn't there I may go in very deep and wash back to where I want to be. There is a lot of humor around here some times.
Today I hit T 54 times. Usually in a day there is one fast paced tape, two medium paced trends and one slow paced trends. Today there were about six fast paced trends, no slow trends and the rest medium trends. The H/L of tuesday we had 11 points spread which established a goal of 33 points per contract. Today the goal was 63 points. Fast paced tapes, nail strings of points. But it turned out that the medium paced trends had tape traverses because of the high volume. This meant that doing PRV for acceleration and deceleration of volume as a leading indicator of price change was required. All decelerations lead to bar ends for traverses and ends of trends. With volumes similating fast market pace most of the day, a lot of time was spent monitoring DOM for reversals in lieu of simply entries or exits.
Here we use a vertical three column list (actually there are three lists labelled Coarse, Medium and Fine). Left column is a sequential list of what to look for. In the center is a column labelled: "What to say when you see it". Think of looking for a traffic light and seeing if it is red (monitoring). When you see it you say "we have to stop for the traffic light". The right column is titled "Hit T". If stopping for the traffic light involved a trade, the right column would be "shaded". That is a box is there and it is grey. Hit T is a big thing around here. We all hit T when we see a shaded bow in the right column. the box is labelled enter, exit or reverse. It begins or ends making profits in a channel or traverse.
I know this is a lot more than you wanted to know, sort of. But it may begin to illustrate the idea that you do get to a place sometime in trading where you just continually take money out of the market by doing a repeated action in response to a stimulous. The fun of it turns out to be continuing to optimize the actions. It was a drag today at times because of the action.
