Iterative Refinement

Quote from Specterx:

Practice, practice, practice I suppose.
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You've missed a number of trend lines / formations on your attached chart.

I encourage you to focus on monitoring and annotating for the time being - setting aside thoughts of 'trading' until you have built a rock solid foundation with respect to understanding the Price - Volume Relationship. Any decision to start 'pushing buttons' at this stage of your learning process, provides a recipe for failure.

Proof of this is the analysis contained within your post. It is incorrect.

- Spydertrader
 
Quote from Spydertrader:

However you wish to annotate that sequence is how you should do it, as long as you can 'see' the changes as they develop.

- Spydertrader
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Thanks to Spydertrader and everyone else who has responded to my 2-week barrage of questions. Spydertrader's above reply reminded me that all of this has been covered multiple times. I remember an early post by MAK in the Futures Journal when he stated that he doesn't annotate exactly like Spyder does, yet they both end up on the right side of the market.

I've made the same mistakes that many others have made. I started simming too early, added new tools as soon as they were introduced, didn't post my charts, etc. In my attempt to finally follow directions and nail down the Monitoring, I may be obsessing a bit over Monitoring "perfectly." Of course, Monitoring perfectly doesn't mean making my charts look exactly like anyone else's. Monitoring perfectly means annotating in a way that allows me to see and understand the market as it unfolds.

Thanks again, everyone. Here's my ES chart for today:
 

Attachments

Quote from Specterx:

Thanks for the reply. Could you elaborate on this point?
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Sure - once you consistantly post thoroughly annotated charts. Until then, placing your focus anywhere, other than the 'M' portion of the M-A-D-A process, serves no purpose - other than to create obstacles to future success. As many others have posted (throughout last year's future journal and in this thread), following the process as instructed pays off in the long run.

- Spydertrader
 
Quote from Spydertrader:
Proof of this is the analysis contained within your post. It is incorrect.

Quote from Specterx:
Thanks for the reply. Could you elaborate on this point?
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Quote from Specterx:
...I took a few (simulated) trades to get a feel for things, the results were not good :).
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GIGO
 
I see I missed a few limbs in the early afternoon which would have provided a confirmation of change (and continuation) sooner.

Solid "M" is the way to 3 times a day :)

Really appreciate people posting the charts!
 
Quote from Spydertrader:

Sure - once you consistantly post thoroughly annotated charts.

- Spydertrader
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Well let's take another crack at it then.

I've added five additional channels in yellow, and several laterals in orange. I've deliberately left out trying to annotate pennants as I haven't noticed anyone doing so at my place in the futures thread - only laterals.

I'd appreciate any comments you might have.

Edit: I also corrected the volume annotations for the 1000-1230 formation in light of the thick yellow channel.
 

Attachments

Quote from Spydertrader:

Until then, placing your focus anywhere, other than the 'M' portion of the M-A-D-A process, serves no purpose - other than to create obstacles to future success.
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I have had definitive experience with the "defocussing". :D
After taking a look at today's Spydertrader's chart and comparing it to mine, I am going to print the quote above, frame it and hang it on a wall. :)
 
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