Iterative Refinement

Quote from 8833broc:

EHorn's points are all well taken about the scaling and the time. I would add some more comments to them all centering around your Entry.

Where was your entry ?

1) At the pt1 or pt 3 forest ?
2) At the PT 1 of the Non Dominant tranverse ?
3) At the lateral BO on inc red Volume ? ( My Entry )

Your entry does NOT change the CHANGE/CONTINUATION analysis but would certainly change your comfort level in holding on this bar of drill 1.

I will label these chart points on tonight chart.
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Good points, 8833broc. Keeping a consistent scale is something I admittedly am not doing and never completely understood. Charting software usually has automatic scaling as well as log scaling. I've been using the auto scaling and then adjust it to keep "enough" data in view for things to make sense, but this naturally means I never get "calibrated" to seeing price the same way everyday. Any suggestions?

Btw, nice chart you posted earlier.
 
ehorn, It's hard to know where to begin asking you how you are seeing that far ahead with your channels. It's what Mak showed in some futures journal posts, and certainly worth trying. I've worked on it, but a bit blindly. Any pointers or is it a matter of just getting a enough experience to feel the "pseudo-bounding" characteristics of channels?

For those interested, here's where Mak does his thing (start around page 180).

http://www.elitetrader.com/vb/showthread.php?s=&threadid=83604&perpage=6&pagenumber=182
 
Quote from eliasg101:

Having a little trouble lately with my trading. I'm afraid that I'm missing something. Any help that i can get in regards to my chart will be greatly appreciated. TIA.

I'm posting a chart of TASR. Stock was on the DU list today and closed 47K from FRV . Took the trade on what I believe to be an FTT PT 3 at 10.25 close to the end of day.

:(

Thanks
E.
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eliasg, I tried to draw in some gaussians and added what appears to be a possible channel based on your longer term gaussians. Not sure why you had the sad face.

The posting seems to be a bit much for one person tonight, so it's time for bed. btw, I accidently put the wrong date on the ES chart. It was supposed to be 040308. Cheers!
 

Attachments

Quote from cnms2:

WMCN drill 1-5:

ES: decr black volume (above flaw level) in down channel => Change

Hi cnms2,

Do you consider the bar black, because it made a higher high and higher low, even though it closed lower than its open as well as the previous bar's close.

Thank you.
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Padawan,

scaling suggestion - I try to fix my scale at a constant division on my chart and manually adjust the chart to view what I need to see. From a mental viewpoint it helps calm my nerves to see things consistently.

Really though concentrate on why the good traders in this forum reversed in this drill on Bar 5 and UNSUCCESSFUL Hershey framework traders, like myself, are still holding short.

In my 2pm trade I posted yesterday there were enough signals to reverse
or at least exit my long position before I got whacked on my head.
 
revised WMCN 1-5

for some reason ET wouldn't allow my to use a new attachment when I tried to edit and change my previous post of a few minutes ago.
 

Attachments

CNMS2 Question Drill 1 Bar 5

Regarding your decision to go long on Bar 5 what if:


1) YM on Bar 5 was an inside bar on DEC PRV. Would the decision still of been to reverse long ?

On the NEXT question assume YM values were as shown on the drill's chart.

2) ES Vol on Bar 5 < 40% of Previous Bar then you would of been thinking flaw instead of FTT. Would the decision still of been to reverse long ? Would YM still of been a factor in this decision ?

Thank You !
 
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