Iterative Refinement
- Thread starter Spydertrader
- Start date
Drewkari and The Flaw - Don't you two find it odd that you make the exact same errors with your annotations?
- Spydertrader
- Spydertrader
For example, Spydertrader once wrote:
Once Price breaks (by more than a tic or two) a RTL (right trend line) of a channel, that channel is over, done, finished - kaput.
I think the general agreement is that once a bar closes outside of the RTL then the channel is done.
Hope this helps.
I mean, don't you two find it odd that every annotation error appears in the exact same fashion on both your charts? See attached. In other words, if only one of you actually annotates a chart, why post two charts?
- Spydertrader
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1906277>
My chart. I do apologize for using blue instead of black, but black on black would be hard to see 
Clearly I'm still very early in this process. I see things 1-3 bars after they happen, but by then you're in a different formation. I took a few (simulated) trades to get a feel for things, the results were not good
. For me, at this stage, a good rule seems to be "wait for the close of the first confirming bar."
Consider bars 14-16 versus 49-51 (circled on the chart). To get short, in hindsight one should have waited for bar 16 to close on increasing red vol. Annoyingly, bar 16 showed increasing red volume until several minutes in. To get long on a bounce off the aqua RTL I'd want bar 51 to close on increasing blue vol; to get short on a BO of the same RTL I'd want bar 52 to close on increasing red vol (which we saw), etc. Practice, practice, practice I suppose.
Clearly I'm still very early in this process. I see things 1-3 bars after they happen, but by then you're in a different formation. I took a few (simulated) trades to get a feel for things, the results were not good
. For me, at this stage, a good rule seems to be "wait for the close of the first confirming bar."Consider bars 14-16 versus 49-51 (circled on the chart). To get short, in hindsight one should have waited for bar 16 to close on increasing red vol. Annoyingly, bar 16 showed increasing red volume until several minutes in. To get long on a bounce off the aqua RTL I'd want bar 51 to close on increasing blue vol; to get short on a BO of the same RTL I'd want bar 52 to close on increasing red vol (which we saw), etc. Practice, practice, practice I suppose.