Iterative Refinement

Quote from WGTrader:

I am actually thrilled that I have gotten to the point where I am now.
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WGTrader, I believe this is it!! :D If you have arrived at a point where you are able to take consistent profits out of the market day in day out, this demonstrates the hard work put in over the last few years is paying dividends, in time you will start seeing the big picture.
I am pleased with myself that I have got so far. I got a ticking off from IB few weeks ago for taking money out of my account every day! :D

I am happy, staying humble, enjoying the fruits of hard work. I am also ever so grateful to all those who played part in making the trader I am today ( albeit 1 contract)! Thanks Spyder :)
 
Quote from WGTrader:

Spyder,

After your post, I don’t know whether to cry in frustration or scream with joy. I have perhaps, over 2,000 hours of screen time annotating the 5-min ES (pretty much every day) during the past 1-1/2 years. During that time I have gotten to the point where I can take profits out of the market each day with reasonable consistency. Some days it’s not that much, but it’s nearly always positive. I seldom hold a trade for more than 4 or 5 bars because there is usually a signal for change by then (to me anyhow). But when you make statements about last Friday that one should have known without any doubts in real time that between 10:45 and 14:50 that one should not have even looked to go short, I am befuddled and amazed. Even looking in hindsight, I can’t see why that would be the case. To be able to go long on the 10:45 bar and hold till 14:50 seems like a pipe dream to me. So I am obviously missing a very big piece of this method. But the sad part is I don’t even know what piece I’m missing!

I don’t know whether as you say that many of us are very close but don’t know it, or that I’m so far away that I should forget about it and just be happy with what I am able to take. I have had several “mini” ah-ha moments during this journey which has at least led me to the point of profitability, but none where it all comes together into one “Big Ah-Ha” to do the type of trade you describe for yesterday. In the mean time, I don’t know what else to do except to keep doing what I’m doing and hope that one day, the “Big Ah-Ha” knocks on my door.

In any event, your efforts to teach all of us that follow your journal is greatly appreciated. :)
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Actually, I think I'm somewhere behind you, also trading live, but not as consistent as you are (but getting there), but not having any losses :-)
I've had many aha moments, many times thiking "this is the one" but alas, not yet it seems. I also think many people are somewhere where you are, so you're not alone.

--
innersky
 
Quote from PTVtrader:

I'm not sure if this is what your asking but here my view...
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Incorrect.

Again, my 'incorrect' response to you does not imply, infer, or otherwise provide an opinion (for or against), the specific points of your post. In other words, I have not addressed whether (or not) your post contains accurate (or inaccurate) information.

Your post simply failed to address the 'correct' answer to my question.

- Spydertrader
 
Quote from WGTrader:

Also, I still don’t know if this method is “art” or “science” or both.
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The method represents 100% 'rule-based' science. No art - not even a tiny bit.

- Spydertrader
 
Spydetrader, could you confirm a few items with respect to annotations in the attached:

1. Seems like the first pink down traverse and the second down orange traverse are faster fractal traverses.
2. If the above is correct then red Point Three down is not a channel but a 5 min ES level traverse.
 

Attachments

Also, in the attached, the last blue up traverse of the day does seem like a faster fractal traverse as well (I don't see return to dominance after p3 - all increasing black volume comes from lateral/pennant BO)
 

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