Iterative Refinement

Quote from Ezzy:


Tiki - also mentioned when to go to YM, and "what must come next when wrong"


Care to give examples?
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Hey Ezzy
This is where is say Spyder really packed a punch. There is nothing here that you already don't know.

It is Spyder's lightening fast decision making that really summed up the level we need to be at.
The entire day was based on continuation or change. I don't even remember Spyder using the word FTT once.
It was just a continuous reading of the ES.
Every ES 5 minute bar was monitored for continuation or change. If the ES bar closed without change, instant decision to continue. If the ES bar gave permission to look at the YM, an instant decision was made by what the YM was forwarding at the moment, again to continue or change without hesitation.

Now If what must come next and you find yourself are wrong.
Jokari window and boolean must be reviewed immediately.
Lightening fast true or false decision.
Is what you need to see at this point . . . true - false?
Did you get what was needed to continue?
Did you get what you need for change?
How does what is happening fit into the Jokari window?
Remember the context of the decision also, if you enter lower volume in a dominant traverse and it is a flaw - pennant, then that context is part of your mada.
Really Spyder was making split second actions - Jokari window,boolean, at every single bar close, immediate sweep if needed, along with the full context of what is happening , to be on right side of market.

If anyone who was there would like to share at the speed at which decisions were made by Spyder, please share because it was amazing to see at just how fast he wants everyone of us to perform without any hesitation.

Also if I am repeating anything not as you had intended, Please correct me Spyder.

So for myself, it is the speed without any hesitation that is going to be a major change that I will be working on.
 
Tiki, I agree with you. While I did not make the expo, I've had the privilege of hearing Spyder's bar-by-bar commentary and for that I am very grateful. In my opinion, it's all about knowing how to sweep (where your eyes should go and when) and then knowing what you're seeing as you're sweeping properly...and, of course, ultimately acting. That's it and it's all in the journals.

As a side note, Spyder and Jack and Mak and many others, too, have been tremendously generous with their time and attention to those here and elsewhere and they're an inspiration to me. In order for them to really give to their fullest, I think we have to do our best to receive to the fullest by working purposefully to get this information down cold and then pass it forward. That's just my take. "Your mileage may vary." :D
 
NYC Expo

I truely enjoyed the opportunity to match faces to ET usernames and to spend some time reviewing the markets with those attending the Expo.

Without exception, everyone who attended had the ability to 'see' continuation or change. Each also had the ability to 'know' what must come next. In addition, all understood the sequences of Price and Volume as Price traverses a channel. Everyone reading this post, who has an expectation of trading these methods profitably, should also meet this same minimum level of performace.

Within minutes of the market review, eyes widened, as all in attendence realized, not only how far they had already traveled, but also, how much of the journey still lay before them.

The speed in which I make decisions, in and of itself, isn't what makes the trading effortless. The ease in which I rattle off the next set of sequences and describe the market's path well in advance of the current Price bar results from a deep internalization of all fundamentals discussed within these many pages. Nobody counts how many times they breathe in a day, and so too, should nobody hesitate when 'knowing' the fundamentals of this system.

No book, No video, No phone call, No meeting; has the ability to provide for each of you, reading along, that which you can do for yourself - know the lessons discussed here cold.

During the 5 or 6 hours we all met, I discussed nothing that I hadn't already mentioned numerous times in the past. As I told those in attendence, I have held nothing back from how I trade. Everything I do each bar, each day, every day I have shared with all of you. I then simply walked through the market day as easily as someone might stroll through a park. To prove my point, I would, from time to time, pause the market, and ask the question, "What must come next if we are on the right side of the market, and what must we see if we find ourselves on the wrong side of the market?" Nobody ever got the answer wrong.

The take home point of all this is, how well you believe you know these methods probably isn't near close enough to knowing them as well as is needed. I'm sure others who attended can chime in here and provide their own personal point of view.

So how can you travel from where you find yourself on the path to where I sit? Easy. You start at the beginning. No. I don't mean at Page One of the Futures Journal. I mean you start at M of the M-A-D-A process.

As I posted some time ago, everyone must posess the critical thinking skills required to accurately and honestly evaluate where focus, energy and effort need application. Do you quickly and accurately draw Channels and Gaussians and all other annotations correctly? If so, then you should be able to 'see' all the trends, flaws, formations, 1-2-3's, FTT's and FBO's without drawing in a single line on a chart. Can you do that? Yes? Move on to letter A. No. You can't do that? Then focus on making sure you are improving toward a place and time where you can annotate without thinking, without hesitation and without confusion. Otherwise, you have no reason to be pushing buttons.

Jack has provided a lenghty post describing the benefits of logging in an effort to build a strong foundation. While I have no doubt some my find a benefit to such an exercise, I have never personally used logging to improve my technique. Instead, I watched the charts. People's eyes need to be on the chart watching Price and Volume in an attempt to note context and the subtle differences which often make the difference between continuation and change. Having one's eyes focused on anything other than Price and Volume misses so many of the lessons and signals the market provides. I've said it before, and it needs repeating - Price and Volume is all anyone ever needs.

However, one area where logging does provide a benefit is during areas of confusion. Note these areas and every bit of information surrounding the event. Only in this way can you 'see' more clearly during debrief, or failing that, can you obtain clarity from posting here.

This isn't the time for a debate on sufficiency or how many path's someone believes exist on the way to success. This is about how one measures up to the minimum standard required to 'see' the market for what it really is, and once measured, taking the correct and appropriate action needed to improve in the areas required. This is about deciding for yourself to follow the instructions and advice repeatedly provided in order to train your brain to succeed. I have zero desire to debate the wisdom of these words. Make no mistake. I handed you all a roadmap to a bright and prosperous future.

What you do with that map is not my concern.

While I wish you all the very best, my time here is winding down. As such, if my words sound harsh, it is out of my desire to see as many as possible make it to the end of the journey.

Most of you really don't have all that far to go.

- Spydertrader
 
Got in SXE today. Didn't move much but I'm hoping for a gap tomorrow and continuation of a BO. Atari, definitely agreer with your assessment on FMCN I did'nt continue my pink down channel which is equivalent to your purple down channel.
 

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Thank you Spyder, for devoting so much of your time to help people from all over the world and answering the same questions over and over with such patience. :)

I have known for sometime that my Gaussians are not too brilliant. This is not for want of trying, I have been reading extensively around the subject now re-reading the Futures Journal, making notes, pulling up charts and trying to work out the areas of difficulty. I have studied Pr0crast’s slide’s several times but still I am struggling. After reading Spyder’s post last night I decided to leave MADA for time being and concentrate on Gaussians..
Once I develop a block over something, it is difficult for me to shift it, God knows why that’s how it goes. I am back to drawing basic Gaussians.
Fortunately for me I came across this page whilst going through the journal and I feel I may just “get it”. :D
http://www.elitetrader.com/vb/showthread.php?s=&threadid=83604&perpage=6&pagenumber=715

I have tried to match the channels with the Gaussians I would be grateful if some of you could look at my chart and provide constructive comments. I will post few more charts. Thanks.

gaussians1.png
 
Quote from callmate:

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I have tried to match the channels with the Gaussians I would be grateful if some of you could look at my chart and provide constructive comments. I will post few more charts. Thanks.
More...
Callmate, as a start please look very close at what you have described on the first 23 bars from the Gaussian perspective. Do you really believe that the dominant trend direction is up? If not, then ask yourself how would describe the true dominant direction on your Gaussians in a way that matches correct channels.

Annotate the pt 3 of each. What is the increasing volume color (dominant) that must then occur and does it match?
 
Quote from R/R:

Callmate, as a start please look very close at what you have described on the first 23 bars from the Gaussian perspective. Do you really believe that the dominant trend direction is up? If not, then ask yourself how would describe the true dominant direction on your Gaussians in a way that matches correct channels.

Annotate the pt 3 of each. What is the increasing volume color (dominant) that must then occur and does it match?
More...


Thanks R/R. Can you see the dashed red channel? That indicates that the dominant trend is down. I understand that, I was trying to match the highs and lows as per Spyder's post. When doing this exercise, I realised that I wasn't seeing R2R or B2R as clearly I should. :p
 
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