Iterative Refinement

guavaman · Feb 18, 2008

Quote from Spydertrader:

However, after a few minutes listening, I could see everyone now knows just how far they have yet to travel on this journey.

:eek: :eek: :eek: :eek: :eek: :eek: :eek: :eek:

cnms2 · Feb 18, 2008

It looks like a lateral movement. There isn't enough volume to sustain further down movement (at least yet). Reversing here might chop you up. Function of your expertise you might want to sideline, hold long, or briefly reverse short.

Quote from FerdinandAlx:

Thanks to all of you for your thoughtful answers! To spice the discussion I would like to add another possible outcome.

In this outcome, the bar we thought was an FTT turned out to be a HVS. The next bar signals change, a continuation for our down channel. The tricky part here is that due to the lower volume this bar could easily be mistaken for a flaw that signals continuation, like a dip. Could this be recognized early on or would you be forced to wait until the IF2 triggered?

Padawan · Feb 18, 2008

Quote from FerdinandAlx:

Thanks to all of you for your thoughtful answers! To spice the discussion I would like to add another possible outcome.

In this outcome, the bar we thought was an FTT turned out to be a HVS. The next bar signals change, a continuation for our down channel. The tricky part here is that due to the lower volume this bar could easily be mistaken for a flaw that signals continuation, like a dip. Could this be recognized early on or would you be forced to wait until the IF2 triggered?

Good questions.

WGTrader · Feb 18, 2008

Spyder,

I want to thank you again for the time you spent with us at the Traders Expo. You showed us how far we have come, but also how far we must still travel. There is not too much to add to Avi8's excellent post. The training wheels are off boys and girls... it's all about continuation and change, bar-by-bar, 81 times a day. We must to learn to breathe without thinking about it! (LOL).

For those of you just starting the journey, its been said before, EVERYTHING you need is contained right here in these journals. Not only that, the information has been repeated, rephrased and restated every which way possible over and over. You just have to keep at it until you see the dancing lady!

Best wishes on your next adventure.

Kind regards,
WGTrader

ivob · Feb 18, 2008

Hi,

I would certainly exit at this bar. Not reverse.

I have been killed too often in situations like this. It has happened I reversed and then I got whipsawed. It has happened I stayed long hoping for price to go up. Situation is just not clear.

You have to clear you mind and be ready for the next opportunity imo.

regards,
Ivo

Quote from FerdinandAlx:

Thanks to all of you for your thoughtful answers! To spice the discussion I would like to add another possible outcome.

In this outcome, the bar we thought was an FTT turned out to be a HVS. The next bar signals change, a continuation for our down channel. The tricky part here is that due to the lower volume this bar could easily be mistaken for a flaw that signals continuation, like a dip. Could this be recognized early on or would you be forced to wait until the IF2 triggered?

R/R · Feb 18, 2008

Quote from WGTrader:

... EVERYTHING you need is contained right here in these journals. Not only that, the information has been repeated, rephrased and restated every which way possible over and over.

My thanks also goes out to Spy for again generously contributing way beyond what should ever have been expected of him.

I have been reviewing some of Spy's recent posts after returning from NYC and would like to emphasize what WGTrader said above.
Additionally, Avi8 and TikiTrader have posted thoughtful summaries of what we experienced on Saturday.
I don't believe there are any other secrets to achieving success with this method, just lots of work to internalize what we have already been told.

rainman2 · Feb 18, 2008

Quote from TIKITRADER:

Just to start off, Spy shows up at the expo with a laptop ready to do a thorough review. Who goes out of their way for people and never asks for anything more in return than to do the work and understand completely, only to benefit ourselves.

Quote from tradingbug:

It was an excellent trading demostration. I took some time off from sct trading the ES but saw through the demo that it was possible. What was reassuiring was that even though spy stated he will be retiring from the journal soon, that everything needed to learn this material was already written down in the previous journals. I look forward to giving it another shot.

I would also like to thank spyder for allowing an outsider into the group for the day. It was awesome for me to get to hear what his mind was thinking in realtime (replay). To get a play by play of his MADA was just incredible and enlightening. It was great meeting all you guys.

ang_99 · Feb 18, 2008

Quote from rainman2:

To get a play by play of his MADA was just incredible and enlightening.

Could someone maybe give an example of a trade sequence that went down while at the expo..

Maybe you cant remember spyders exact words verbatim but something close to it perhaps..?

rainman2 · Feb 18, 2008

Quote from FerdinandAlx:

Thanks to all of you for your thoughtful answers! To spice the discussion I would like to add another possible outcome.

In this outcome, the bar we thought was an FTT turned out to be a HVS. The next bar signals change, a continuation for our down channel. The tricky part here is that due to the lower volume this bar could easily be mistaken for a flaw that signals continuation, like a dip. Could this be recognized early on or would you be forced to wait until the IF2 triggered?

Although the quizzes you are posting are "fun", why would anybody who has followed the journal want to "GUESS" at what happens next. The tool set that has been given includes the 2 minute ym, along with various other finer level tools.
Personally, I think that any quiz or trade review should have both es and ym charts, so as the group can come to a consensus of continuation or change and
WHAT MUST HAPPEN NEXT.

That being said, after a IBGS

and then
an OB on decreasing red volume, one might if not in a trade take a long trade with at most a 2 tick stop loss.

back to lurking

R/R · Feb 18, 2008

Quote from FerdinandAlx:

Thanks to all of you for your thoughtful answers! To spice the discussion I would like to add another possible outcome.

In this outcome, the bar we thought was an FTT turned out to be a HVS. The next bar signals change, a continuation for our down channel. The tricky part here is that due to the lower volume this bar could easily be mistaken for a flaw that signals continuation, like a dip. Could this be recognized early on or would you be forced to wait until the IF2 triggered?

Two questions as of the close of the last bar in your snip:
1)what is the current mode?
2)where must you go in your sweep in the next instant and why?