Iterative Refinement

Quote from guavaman:

Today was a typical day of mine, but backwards. Usually I start the day with a couple of productive trades and screw up in the p.m. Today the morning (9:40 to 10:25) just chewed me up. I kept trying to determine the proper context and its corresponding sequence but I could not seem to determine it. Such a small matter never precludes me from trading though :p (unfortunately).

I have to internalize the reality that that methodology is of supreme importance important to trading profitably, but probably no more so than proper patience and discipline; especially at my fledgling trading level.

Any hoo, I recovered "somewhat" in the p.m. , but not well enough to avoid posting a loss for the day (-12.5 pnts).
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Hey guava
I'm sure you're a great guy and everything and we'd get along fine over a beer, but your trading persona sucks! You are setting yourself up for failure.

Stop. Regroup. Go back over the material from last year properly. Breathe.

Iterative refinement? Doing the same thing over and over and expecting different results is a sign of madness. Making mistakes is forgivable - not learning from them is not.

Sorry to be the bad guy here (I bet others are holding back from commenting) but you need to get serious about your work.

(Don't anyone tell me he didn't want this type of response to his post - it was a cry for help, no?)
 
As has been said before...

Establishing your Point 3 is not always the same bar that you take action on (enter a trade)...

Often we see a potential Point 3 (with low PRV) and confirm that it WAS indeed a Point 3, a bar or two (3? 4?) later, after we have the +PRV that we need.

Today we saw a Point 3 (down channel) at 10:15am, which had the required +PRV, but the bar had not yet traded below the low of the previous bar.

I usually wait for both, increased PRV AND a break of the previous bar low (or high for up channels) to take action.

Spyder.....Is taking action on this bar, once you have the PRV you need, jumping the gun?
 
Quote from The Flaw:

Lately, it seems that the ES market has reverted back to "Normal" (unlike Jan) where we're seeing the major moves happen within the first hour of the day and is relatively choppy throughout late morning and early afternoon.

This clearly makes for tougher trading - does anyone have any thoughts on taking money out of the market early morning when the overnight market does not produce a solid overnight channel?
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Once the market sync'd, the YM 20MA led like a pilot all the way.
 
Quote from PointOne:

Hey guava
I'm sure you're a great guy and everything and we'd get along fine over a beer, but your trading persona sucks! You are setting yourself up for failure.
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Thanks for caring man :cool:, but this post was actually in response to Padawan's request of where I ran into trouble.


FWIW I prefer imported beer :D
 
ES Daily chart February 13 2008.
Working with new software so I have not posted much. December annotations were copied from screenshot of another data provider I had.
Only can run the ESH8. No continuous contracts so data is limited.




-ESDAILYCHARTFEB132008.png
 
Quote from guavaman:

Thanks for caring man :cool:, but this post was actually in response to Padawan's request of where I ran into trouble.


FWIW I prefer imported beer :D
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You're welcome. Turn off the sim / order entry platform and P&L and annotate, annotate, annotate until your eyes bleed.

I've discovered a Belgian pub near me, it's quite a find...9% beers brewed by mad monks.
 
Quote from Tums:

Once the market sync'd, the YM 20MA led like a pilot all the way.
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Does this mean we should add that it's ok to look at the YM when the ES is at the 20 SMA (assuming normal volume levels) because it can act as a trend line?
 
Quote from TIKITRADER:

Invitations extended?
Just a little air time for a beer!
Avi 8, you up for one heck of a party?? :D :D :D:
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You bet!

Those Belgium monks know how to brew beer, I love their Lambic brews. Check out 'Chimay'.

I have a feeling PointOne isn't near Belgium though!
 
Im having trouble figuring out the Guassians and chart for ANW and i really feel like its ready to break. Is what I have a correct chart and is there an FTT of the pink down channel.

One other question I haveis for an FTT to occur on the Daily chart, do a Pt 1,2, and 3 need to be in place first. I understand that when you go to a finer fractal(60 min or 30 min) FTTs take place there too and might be inside of individual traverses of the daily but in terms of each respective chart.... does a Pt 1, 2 and 3 have to be in place before an FTT occurs??
 

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