Iterative Refinement
- Thread starter Spydertrader
- Start date
Answer in any fashion or not at all if time doesn't let you. However, if I can choose between something vague in English or something clear but in a foreign language that I don't understand, I'd prefer the latter
I started with something specific I thought that was not of general use but then my latest question may be useful for others as well so I will share it here hoping you'd be willing to comment.
Spydertrader wrote on 05-28-08 04:04 PM:
You already know the answer here.
When the context changes, the answer to what must come next, also changes.
It's tempting ... , but: my understanding of this method is that it gives you a number of tools to gauge the market sentiment; these tools provide you with answers that build upon each other; these answers don't always come in the same sequence or with the same force, and it is up to you to decide on the threshold that commands action; when this threshold is lower you'll be wrong more times, but will catch the moves earlier, when it's higher ... (like in so many duality problems). So there is no clear cut set of rules like the one you're looking for. As long as you're still looking for them, it means you haven't yet grasped the essence of this method. The shorter answer is: context is essential.
EDIT: Your question is like a driver student asking how to take a turn, and looking for a clear cut reply on how to press on the pedals and turn the wheel, that would work for any turn (any context).
, but: my understanding of this method is that it gives you a number of tools to gauge the market sentiment; these tools provide you with answers that build upon each other; these answers don't always come in the same sequence or with the same force, and it is up to you to decide on the threshold that commands action; when this threshold is lower you'll be wrong more times, but will catch the moves earlier, when it's higher ... (like in so many duality problems). So there is no clear cut set of rules like the one you're looking for. As long as you're still looking for them, it means you haven't yet grasped the essence of this method. The shorter answer is: context is essential.EDIT: Your question is like a driver student asking how to take a turn, and looking for a clear cut reply on how to press on the pedals and turn the wheel, that would work for any turn (any context).
Quote from ivob:
Answer in any fashion or not at all if time doesn't let you. However, if I can choose between something vague in English or something clear but in a foreign language that I don't understand, I'd prefer the latter
I sort of agreed with your first paragraph, but this pretty much contradicts everything that Spyder has been saying all along. If this is indeed a binary system, I dont see how "depends on the context" keeps getting thrown around as a vague answer to every question. If a 'yes' or 'no' answer is sufficient at every decision point, one would think that there is a hard set of rules or decision tree available. Perhaps I am off base, or this does exist in the form of neverending if,then,else splits that noone has taken the time to post.
When you drive, you constantly take a lot of small binary decisions as the context changes: e.g. step on the break with a certain pressure, more pressure, less pressure, hold pressure. The point here is that you're given a number of guidelines when you're taught to drive, and in the beginning you're trying to apply them while making a lot of mistakes, reacting late, ignoring signs, etc.. Eventually you learn to automatically do what is necessary to drive smoothly as required by any actual road conditions, while the driving sequences change and adapt all the times. Jack will also teach you about how the car works, which is not necessary for driving well, but might allow you to get more from your car ...
Yes, it is binary -- there is only Continuation, or Change...
but you were NOT asking a binary question...
Why would you... "on very strong trending day: I will only enter on pt3 in opposite direction."
How can this be a "Rule"? This is Anti-Hershey, Anti-SCT, Anti-everything we have learned so far.
You can trade a Pt1-FTT... when you have mastered the toolset to recognize Continuation/Change at those points.
i.e. stay at the Forest Pt3 if you are not ready for Pt1. But when you are ready... why should there be a rule to stop you?
but you were NOT asking a binary question...
Why would you... "on very strong trending day: I will only enter on pt3 in opposite direction."
How can this be a "Rule"? This is Anti-Hershey, Anti-SCT, Anti-everything we have learned so far.
You can trade a Pt1-FTT... when you have mastered the toolset to recognize Continuation/Change at those points.
i.e. stay at the Forest Pt3 if you are not ready for Pt1. But when you are ready... why should there be a rule to stop you?
ES Daily Chart May / 28 /2008
Daily ES bar made a HH and a HL today on increased volume.
The bar today formed inside a lateral movement that started with Friday May 28th.
Daily bar range = 15.5 points
Close of daily bar = 84% of the range today.
Daily ES bar made a HH and a HL today on increased volume.
The bar today formed inside a lateral movement that started with Friday May 28th.
Daily bar range = 15.5 points
Close of daily bar = 84% of the range today.