Iterative Refinement

Quote from LittleMac:


Does it have a technical classification in the system?

Comments appreciated
More...
1)it broke out on minimally increasing volume, +R 1 bar only as it found temporary support at the MA.
2)it then formed a 3 bar lateral movement.
3)it popped lower out of this area on decreasing volume.
4)it went slightly lower and found support at the previous pt3L, then moved up to form an OSB on +B.

As the dominoes fell you've got to be thinking large retrace - channel widening and anticipating exactly what happened.

So I would classify it as BO on (overall) decreasing volume.
 
I started this journey in Feb. 07 this is when I first found the futures thread.
It was repeatedly stated to start with the ES, monitor only, no live trading, no sim. Forget what you think you know.
I failed to follow this advice. Tried to trade live and incorportate what I THOUGHT I knew. After 6 months of this, anxiously awaiting each finer resolution tool to be brought forward. Being dissappointed when we stayed on the same thing for another month. Thinking the next tool would bring the holy grail. One couldn't be more wrong.
Finally I went to square one, wasting months of time following the wrong trail in the forest.
I continued to study the method, my study skills arent the sharpest so it takes me a bit longer than others.
This week feels like a turning point. Along with converstions with knowledgeable people of this method. The MADA I've been doing has shown me several things.
I did EOB mada, taking signals from the YM at the end of the ES bar, using the context both resided in at the time. I saw intrabar changes on the YM, most of which would have lead me the wrong direction. I also saw the YM signal change in the first minute of the ES bar when it was the right thing to do. This showed me how difficult it is to apply a rule set as to when to use the YM. I followed that but it restricted my ability to learn when I needed more information. This drill is teaching me when to use the YM, when I need more information. If you are not sure if you need more information and you use the YM(like I did) it will whip your ass.
There were several days this week where right when the afternoon session starts it's tradeable traverses, price stayed in choppy laterals, with volume just above dry up, at levels I usually trade. I took a beating the first day. It is beyond my skill level. Than when the real move started I was so frazzled I just stared at it. That night I was told when the YM and ES go into laterals. Step Back. (thanks you)
The next couple days the same thing happened. This time I waited, walked away occaisionally and was fresh when the moves started.
I have a long way to go yet. I'm just starting to compare, contrast and look for the subtle differences that occur when I need more information.
I got fooled by the same bar as others here, expecting a point 3 down. Lost sight of a few layers of context. Sypders comments were well timed and stated as usual. I'm continually amazed at how Spyder knew exactly what path most would choose regardless how many times we were warned. Everything needed is available. Probably more than we NEED is available. I'd encourage others to reevaluate where they are and work on the appropriate level until time to move on. The hurrier I go the farther it is.
Well enough of my confession. Just wanted to share some observations. Have a great weekend.
 
Quote from ticktrade:

... The hurrier I go the farther it is.
More...

I wish I had spent more time on the Gaussians at the beginning of the journey.
I hope none of you are making the same mistake I made.
 
Quote from Spydertrader:

Seriously, nobody has built a small application (besides Clym's Excel Sheet) to scrape Earnngs Dates?
More...

I just put together some C# methods for ClearStation and Zacks yesterday, with Yahoo next. (Are there other good or better sources?)

But the only 'package' I have for them is NT - I thought I'd set it up to read the symbols from a file and Print the result to the output window (or alternatively write to another file).

Is that any use, or are you looking for a standalone app?
 
Quote from palinuro:

Is that any use, or are you looking for a standalone app?
More...

While I'd love to have a stand alone application, whatever works to save time provides me with more than is necessary.

Thanks to everyone who responded.

- Spydertrader
 
Quote from Clym:

There was a timing issue with the opening and closing of the hidden instances of Internet Explorer required to run the script. If your error in Vista was "remote server error" then you might try a current version. The most current version is always available here.
More...

Thanks, Clym. I'm happy to report that the current version works perfectly on Vista.
 
Quote from Jesus_Freak:

1) the new p1 occurs at the Ftt (I believe on the bar right before BO)

Please correct me if I am misunderstanding these basics. Thanks!

JF
More...

Hello JF,

Keep in mind that the FTT doesn't necessarily have to coincide with Pt 1. Here are three consecutive trends where the FTT coincided with Pt 3. I highlighted them in yellow. The 1st green trend's Pt 3 is a red FTT, the 2nd red trend's Pt 3 is a green FTT, and the 2nd olive trend's Pt 3 is a red FTT.

(In the first and last example, The FTT coincided with both the original Pt 3 and the Pt 1 of a steeper channel.)

Edit: Also, Pt 1 does not always occur on the bar right before BO; nor does the FTT. This is also evident in these examples.
 

Attachments

You must log in or register to reply here.
Back
Top