Iterative Refinement

Quote from LittleMac:

SOLF gave a signal today based on LBDU on the 4.2 Chartscript at around 10:15am. Anyone get in. Ive posted my chart. Comments appreciated.
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Yeah, it's one of the old guard that goes through amazing gains occasionally. Like GROW did back in the day.

I got in yesterday at 10:20, sold today at 12.65.

It's already gone through a 30-35% gain in 3 days, and had extreme volume today, so I don't think I'd go buying right now. I'll be waiting for a pull back before I look at it again.
 
Quote from ang_99:

At least then I'll know its just me and more work needs to be put in.
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I can't speak for everyone on your list, but far more than just those names consistantly pull money from the markets (using the methods discussed here) each day they trade. Many others find themselves on the road to this objective - at various points in the journey. Some posted in this Journal (or the previous ones), while others, moved on after having things click into place. You've missed something.

What that something is, I canot at this point say, but Tums, guavaman, cnms2 (and others) have provided some excellent advice. Following that advice might allow a contibutor to point out where (among the M-A-D-A Process) you need to apply focus.

However, I do note one thing you seem to have missed. Forest, Tree, Limb, Leaf and Bug referred to how one learns the methods discussed here. The time has come to remove the 'training wheels' and begin to recognize the diferences which exist between continuation and change.

From where I sit, it appears as though you started trading when you believed you had learned 'enough' to do so. I'm thinking maybe some of the folks who met me in NYC could explain the difference between where one needs to be, and where one believes themself to be with respect to the learning process.

- Spydertrader
 
ang_99 i can tell you what help me tremendously ... I keep a log for all 81 bars ... this some how keeps me in sync whit the price action...
 
Quote from Spydertrader:

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From where I sit, it appears as though you started trading when you believed you had learned 'enough' to do so. I'm thinking maybe some of the folks who met me in NYC could explain the difference between where one needs to be, and where one believes themself to be with respect to the learning process.

- Spydertrader
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The main message I took home from NYC was if I was going to improve and apply this method to it's fullest potential, I must get way beyond my current level and gain an understanding of the sequences and WMCN so well that I am able to anticipate and see them unfolding as automatically as breathing. A complete mastery of the above allows one to assess the current context and all "what might come next" scenarios within the blink of an eye to apply the proper anticipation to the current sequence.

Only then will there will be no hesitation when knowing one has a complete dataset to execute the proper action. I saw Spyder demonstrate this skill through a very high speed narration of a real time market playback.

Those of us who are not yet at this point, but are trying to sim or actually trade this method can't possibly expect to achieve optimum or consistent results.

I found the group of posts starting 2/23/08 at around 7pm EST to be very informative. These may help to point out some particular areas that require attention.
 
Quote from Tums:

The important first steps in this learning journey...

1. don't trade yet. don't even sim. (this is the instruction given since the beginning of the futures journal.)
2. observe the market
3. draw your channels
4. annotate... pt1, pt2, pt3...
5. draw your Gaussians
6. annotate more... VE, FTT, BO, FBO, Sym, FTP, FBP, IBGS... etc.,

7. (the most important part) Post your charts daily.

You will see the difference in one month.

I guarantee it.
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Quote from tannism:
Attachment: mar24.png
This has been downloaded 7 time(s).
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If your focus is on the past 2 weeks, by all means make a large chart of that 2 weeks.

If the candle sticks are giving you signals, keep them. Otherwise they are just baggages you chose to carry from an unsuccessful previous life.
 
Hi,
Last year I was following and learning this method up till November. Then an unforeseen family situation happened and I was left with no time for trading anymore. Up till now I was away from it completely.

To be truthful, it is actually harder to get back to it than I thought it would be. Not only because I have less time – at work and at home – but mostly because I have to go back to the beginning again. Still, I am determined to make it work and go all the way.

I have gone back to the beginning of last year’s thread and I am going through it again, it might take me a while to catch up with this one. I think it is important to post my charts as it will make me work a bit harder at it, plus any feedback that might come is worth gold ;)
So I hope you will not mind if I post mine here. I’m not quite sure where you are all at, at this stage and I hope that my charts will not be distracting.

I started to follow the market around noon. It was a slow afternoon, I knew that the forest was down, but I was still surprised by all the “hugging” of the 20SMA that the price did.
 

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