Quote from greaterreturn:
Jack,
Let's establish the baseline and get agreement there. I will show charts and demonstrate why I wish to use this baseline and hopefully you agree it will work for SCT. If not we can make adjustments.
Simultaneously, these graphs show my re-engineered taping for your visual inspection and, hopefully, approval.
Okay, first I was following ehorn's image shown here. It seems to have a clear, readable color scheme.
<img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=2075200" width="800" height="600">
So here's my take on this with only level I taping displayed on a 1 minute USD/JPY chart with volume.
<img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=2079339" width="800" height="600">
I have chosen Forex due to limited capital and the limited minimum margin of only $100.00 plus the execellent liquidity of the markets. That limited margin allows me to control risk as I have $800 in my account. So I can trade with one micro lot ($100 margin) without taking the risk of ruin in the account. Of course, I can come up with a few thousand more as seed money for a working strategy. But minimum margins in ES or other futures disallow that granular control of risk and such limited capital.
What a learner does to use SCT is trade one contract until he doubles his money. Then he removes his original capital and returns it to its former intended life style use. Then he begins again with one contract. He uses profits to add contracts as his profits grow. He "sits" at 5 10 , 20 and 50 and 250 to spend time aclimating. To move from one sitting level to another he adds contracts that ar not significant compared to his trading level. From 10 to 20 may be a daily addition of 2 contracts per day, for example. This week on many days single turns of 20 contracts, made 40,000 dollars per turn. To go to 22 contracts or 25 contracts is easily possible the next day since one turn generated 40,000 dollars of resourses.
You mention risk. The aspect of your mind that related to this is from your heritage and formal schooling and apparently is a part of the inference that makes up your perception as you sense stuff (say what you read or see as data flow into a display). You may be generation fear and anxiety emotions to some degree. If so your breathing is consuming many times the energy it otherwise would be if you were in balance. (the range is 3 to 33% where 3 is normal).
As you become acquianted with neuroplasticity and differentiation, your present orientation will shift greatly.
Most importantly examine 3 things on the chart:
1. Does the volume look representative? To me it looks very much like ES or any other volume. I think my extrapolation of volume is sufficient. If not, let me know.
The market provides the volume as a feed to the trader. If not, then volume is synthesized artifically.
2. Does the taping look accurate? To me it achieves the same or close enough (remember sufficiency) to doing it by hand.
I over annotated your first post to find:
1. over 10% of your taping was coincident. 2. 0% for traverses and 3. 0% for channels. 4. Volume was missing. 5. it appears that you did it after the fact.
You have been offered several good examples that were done by people who have taken the time to gain experience in doing this either manually or automatically.
My intial feeling was that we could start with a foundation that would be present in whatever ensued.
I made a serious mistake in communicating to you on how sufficiency works in mathematics. It is not related to shortcuts.
3. Are we okay with the color scheme, background color, light green for the tapes, red and blue for up and down volume, etc. Is the one minute bar alright or do you want 2 minutes? etc.
Follow the color coding that is recommended. The five minute fractal is the one we are using for ES and the 2 minute bar is the one we are using for YM.
Let's forgo discussing how I did the taping until you examine and approve they're good enough. If you find something insufficient let's point that out. I can probably fix it.
Use the rules of logic provided to you so that we begin with a mathematical basis. In the past, people have spent about 2 months getting this down, The time can be shortened by doing it at the rate of 40 minutes per RTH day using a computer to accelerate the passage of time during times when the MODE is in Continue. What getting it down means is gaining the knowledge to "know that they know". The computer equivalent of this well known: the coding is complete. Both of these examples speak to the same foundational issue: Getting the mind differentiated. Knowing what differentiating is, is important as a matter of a person's knowing what he is doing whether it be drills to understand a process or coding a computer to include in the code the necessary parts to make the code complete. As we all know the is no way to code using a "sufficiency" concept. The hard components and their arrangement in a computer require that coding to operate the computer be complete.
Sincerely,
Wayne
That's very interesting information but already covered in your books at traderuniverse.info.Quote from jack hershey:
What a learner does to use SCT is trade one contract until he doubles his money. Then he removes his original capital and returns it to its former intended life style use. Then he begins again with one contract. He uses profits to add contracts as his profits grow. He "sits" at 5 10 , 20 and 50 and 250 to spend time aclimating. To move from one sitting level to another he adds contracts that ar not significant compared to his trading level. From 10 to 20 may be a daily addition of 2 contracts per day, for example. This week on many days single turns of 20 contracts, made 40,000 dollars per turn. To go to 22 contracts or 25 contracts is easily possible the next day since one turn generated 40,000 dollars of resourses.
Jack, again you're considering a human trader. So that seems off topic because this thread involves an ATS which lacks any of those concerns. On a personal level, I have been through those feelings in live trading and worked them out using methods similar to what you teach of debriefing each day and reviewing each morning. I am already a profitable human day trader but not as profitable as you, of course.You mention risk. The aspect of your mind that related to this is from your heritage and formal schooling and apparently is a part of the inference that makes up your perception as you sense stuff (say what you read or see as data flow into a display). You may be generation fear and anxiety emotions to some degree. If so your breathing is consuming many times the energy it otherwise would be if you were in balance. (the range is 3 to 33% where 3 is normal).
Do you speak any other languages, Jack? I have already undergone neuroplasticity many times over, understand it well and consider that off topic for this thread.As you become acquianted with neuroplasticity and differentiation, your present orientation will shift greatly.
The market provides the volume as a feed to the trader. If not, then volume is synthesized artifically.
Jack, which first post? Have you reviewed the ones that you quoted in this post? Those are the ones I was hoping for you to review since they are a completely new attempt. and NOT after the fact. They are built bar by bar looking forward by the ATS.I over annotated your first post to find:
1. over 10% of your taping was coincident. 2. 0% for traverses and 3. 0% for channels. 4. Volume was missing. 5. it appears that you did it after the fact.
Okay point well taken. However, I don't see any short cuts here. Are you okay with using Forex or not? I understood SCT was workable on Forex in other threads. Was I wrong?You have been offered several good examples that were done by people who have taken the time to gain experience in doing this either manually or automatically.
My intial feeling was that we could start with a foundation that would be present in whatever ensued.
I made a serious mistake in communicating to you on how sufficiency works in mathematics. It is not related to shortcuts.
Follow the color coding that is recommended. The five minute fractal is the one we are using for ES and the 2 minute bar is the one we are using for YM.
What coding? an ATS that does SCT hands free?Use the rules of logic provided to you so that we begin with a mathematical basis. In the past, people have spent about 2 months getting this down, The time can be shortened by doing it at the rate of 40 minutes per RTH day using a computer to accelerate the passage of time during times when the MODE is in Continue. What getting it down means is gaining the knowledge to "know that they know". The computer equivalent of this well known: the coding is complete.
Jack, please discuss your qualifications teaching how to code. I haven't read anywhere in your discussing of your training or qualifications that you ever built any form of decision support software or profitable ATS. I would appreciate knowing if you have qualifications in that area.Both of these examples speak to the same foundational issue: Getting the mind differentiated. Knowing what differentiating is, is important as a matter of a person's knowing what he is doing whether it be drills to understand a process or coding a computer to include in the code the necessary parts to make the code complete. As we all know the is no way to code using a "sufficiency" concept. The hard components and their arrangement in a computer require that coding to operate the computer be complete.
Jack, I already read that book years ago, I am already an expert at OODA with over 10 years experience and an instructor--I have dozens of other books besides John Boyd on OODA and software patterns.Quote from jack hershey:
I am up to date on the reading.
I request that you review OODA, of John Boyd. You need to recognize deeply and completely, the flaws of CW.
Then you need to spend a lot of time finding out how you work and particularly how differentiation works and more importantly how repairing differentiation is very difficult and after some point beyond possibility without care and intervention.
I do not work in your chosen mode of interaction. You may notice the interaction convention of "Iterative Refinement" a thread on PVT and SCT. As you have found out, no one relates to you as you expect them to. Roughly, most of the sentences you have written so far are not on the mark.
Consider, a nuance on the level of advanced expert. Here the person has passed forward what he practices through transference and he trades with consumate skill. I can suggest to you that this person is where he is simply because he has gone through transference and he has built a system of knowledge and practice mechanically first and with additional support systems subsequently.
Look at the alarm system on the lower right of the ninja I posted. What does it need most? Two more columns that show what happened on the prior two bars. Why? Because a binary vector appproach is used in SCT. What is the substitute for not having it? SKILLS. Skills are acquired and they are available from long term memory in a manner of driving a car.
Coding up driving a car is not a difficult task. UTube trials are fun to watch. Geeks do it for fun.
Any average person can trade SCT at the advanced expert level if they do the work. [/B]
"The roads would be much safer if computers controlled all cars."
Because of course, no computer has ever malfunctioned, crashed, or failed.
Give me strength.
- Userone, UK, 04/7/2006 14:11
Isn't Volkswagon the company with the slogan "Drivers Wanted"?
- Mcihael Lane, Watauga, USA, 03/7/2006 17:05