Iterative Refinement
- Thread starter Spydertrader
- Start date
I also see a dominant down trend in the morning. Note that it is a dominant trend but tiring as the volume is gradually falling off - implies a change to a retrace at the forest level soon.
I also saw the B2B ~11:35 and start of a narrow up trend - valid pt 123 channel up... By stepping back, you may also notice that the up channel is clearly a retrace of a larger channel by looking at the OVERALL volume during the channel, it is much lower than the previous overall traverse volume. Nkhoi's chart is illustrating this clearly.
That may also explain why I saw the morning forest channel as a rising red forest Gaussian = Dominant traverse down.
I suspect Gaussians are easier for folks who like puzzles... it reminds me of a jigsaw puzzle - you got all the pieces & just have to fit them together until they work right...
Good luck! (to go with the hard work you've already got going!)
How does it affect your perception if you draw a lateral formation off the 10:35 OB? It had some FBOs but is annoying persistent... BTW, I stopped drawing gaussians when the YM went into VDU...
Your data looks different than mine...
I drew a 123 channel that broke immediately afterwards. Then I saw the lateral. Now I am waiting...
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1799480>
1. Do you have increasing black after a Point Three? If yes, then you have a valid channel. If no, then you have no channel. Do you 'see' increasing black occur as you move from Point Three into the center of this channel?
2. Review the chat log from the last session where I reviewed the market.
3. Price gapped down at the Open. How does Price move down? On Red or Black Volume? In a down channel, how does Price retrace? What do you see just after the gap down? What happened next, when dominant volume returned? What color was it?
- Spydertrader
Spyder,
Thanks for the reply. I was definitely confused about the gap down this morning. Now I am not (see revised Gaussians).
The legitimacy of the channel still remains murky for me. It does not appear legitimate to me because we do not have overall inc. black. There is only a bar to bar inc. black after the 11:10 (my PT3) bar (11:20 increased over 11:15).
My apologies for being so dense here
Thanks for the reply. I was definitely confused about the gap down this morning. Now I am not (see revised Gaussians).
The legitimacy of the channel still remains murky for me. It does not appear legitimate to me because we do not have overall inc. black. There is only a bar to bar inc. black after the 11:10 (my PT3) bar (11:20 increased over 11:15).
My apologies for being so dense here
In a binary Universe, nothing can appear murky. Did you see increasing black after the Point Three, or not. The question requires a simple yes or no answer. The question does not require an opinion. A single contract more than the previous Volume bar signifies increasing Volume.
Binary. Yes or No. Do you have increasing black?
Stop making this so complicated.
Next. Review the chat log.
- Spydertrader
Read Spyder's post a few pages back. The basic topic that is always on the table is the MIND.
In the final analysis, how a person get there has a lot of degrees of freedom. Often, it takes a little effort for me to put myself in another person's place. And it is very easy to put a person in their place as we all know. I try to be responsive, always.
Annotating a chart is a way of sharing the trading relationship you have with the market. It also opens all the doors to becoming expert.
Spyder's medical recommended path is one of those stellar ways to get there. Many got to the first part (as observers) in NYC and, further, it was much more than that too because, as Spyder observed, all were able to demonstrate that they were well along the way, measurably, in their learning work effort. Knowledge and skills were displayed in the context of witnessing that this is a binary process and, therefore, the MODE is known and of MAXIMUM utility for trading by being on the right side of the market at all times.
I posted with regard to learning and there was a tool in use, I felt, that contributed to that learning process. The tool, the log, is there to build the mind el rapido.
Step back after reading the comments on the session Spyder ran. And the comments Spyder made. The essence is there to see. It is the fact that an ace was showing those who could see and understand, that he has a complete partnership with the market and at all times P and V of the market and his mind are at one. All the money available can be taken out of the market capital pool at will.
We have been in rooms where, for some reason, people have thought of competing with us. They competed and we took was was available out of the market. We are simply parasites of a cash market where we use an instrument that, regardless of seeming competition, we take what the market offers.
Your logging is to get you to be a partner with the market as soon as possible. There is no aspect of the log that relates to having to do a duplication of effort. I admit that I do look at the screens a lot and, naturally, I feel that if and when I touch the screen at a spot to the right of NOW, that it is true that where I touched will have the significance I assigned to it. The connection to writing in the log ahead of time is the same.
The log is a learnng tool. For me to not miss anything, where I to narrate not missing anything, I would have to speak three times faster than is humanly possible. By keeping my attention on the screen I will not miss anything.
What I find is that in a lot of posts on specific situations, people are missing this and that.
What I think happens over 500 pages of logging is that almost all things that are elements of what is possible to not miss, actually get written down and as time passes they can be symbolized quickly and all of the relationships get clearer and clearer.
At some point it becomes clear that the MODE is the name of the game and, in particular, the change aspect is where money is made more or less effectively and effeciently.
I was asking, humorously, for you to get to the place whee you could see a half X situation. Those who saw Spyder got to see over and over and over when change was coming into the picture as Continue was degrading into change and Change was becoming more and more a complete representation of the market. what I did was speak of using consecutive rows to be able to do this differentition with the aid of adjacent rows.
The MODE is determined by an adjacency type of testing and evaluating. Seeing everything (not missing anything) allows for excellence. This stars with seeing somethings. Then seeing the "right" things; then seeing the "right" things at the right time; then seeing in your mind the right things at the right time ahead of the right time. You do not miss anything when you get to this proficiency.
At the beginning of 2007, we doubled the topical dwell time right off as we read the journal. Recently someone said that working harder is a good idea. Those who saw Spyder know why to work harder and they know to work as he suggests because he has done what he suggests and he knows the outcome.
To see P and V and the P, V relationship, you drill. As you build your charting, you have a vocabulary of symbols that go on the charts along with the lines of annotations. The way things cluster gives you relationships and you also see the sequences.
The log, also, in other ways,, can give you additional vocabulary that enables clusters and sequences to "show up" for use in your mind. The M of MADA then the A, then the D and finally the A shows up. You put it there and you put it in order (that was a strong part of the reason for my post).
Spyder made MADA come alive in NYC. But it was alive and well from the beginning as well. The log, for me, is a place where MADA can be recognized.
The display is like a magnet to me and I am glued to where it is going to be just to the right of NOW. As stupid (weird) as it may seem, it is possible to see the doors closing for any other alternative than that which is going to happen. For me everything outside the forming boundaries disappears. It would be like pushing aside (unconsciously) all the extraneous and just having the pertinent in front of me and available for use in the very near future. For me logging facilitates this evolution in the thinking process. It is matter, mostly, of filling up the permanent parts of the mind with extremely valuable resources and establishing a way to always have those resources available as the first recourse in a timely manner.
It is not a competitive endeavor; it is tooling one's self up for the task of being excellent (efficient and effective).
Just to casually round out the conversation a lot of the above gets you to the place to be able to see WWT's.
I just made these few interjections in the journal in support of the really super process that is ensuing among all the various contributors. I am so glad to see that this approach is coming into its own and that it is so much more likely that a broader spectrum of people can begin to take advantage of all of this. the willingness of all of you to pass this forward is so desirable.
Thank you.