Iterative Refinement

Just a follow up to my last post, I exited from PSEM today because of it's five minute chart. Why?

1. I was watching the stock closely because though it is going up a channel, and has had three black bars in a row, yesterdays volume showed a decrease. The stock has done this before and then increased and taken off, so I held the stock yesterday, but on a short leash.

2. Stock has been in the negative all day. It has attempted to break through into positive twice, and failed.

3. The volume is even further down than yesterday (if it continues at current pace)

How is this different from CALM (which is up again today)?

1. CALM had shown an increase in black volume from the day before. The daily chart had not signaled change, whereas PSEM's has signaled possible change.

2. By midday yesterday , CALM had shown signs of recovery, and volume was better.
 
Quote from Spydertrader:

While your review touches on several factors which are not 'out of line' with the intent of my post, you need to think bigger picture - focusing on the 'D' and 'A' - and why you arrived at these decisions which initiated the specific actions. No need to break it down by individual equities. Think, continuation or change for 'D' and Buy, Sell, hold, Reverse or Exit for the 'A' portion of your review.

- Spydertrader
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"Sigh" I get the feeling the "lesson" you are hoping I will learn is far simpler and more elegant than my overthinking is allowing me to see... :)

JF
 
for what it's worth. interesting sequence at interesting moments.

Which is, of course, cool. Look at the subtlety. I've also been monitoring the DOM and especially the T/S, and it makes perfect sense.

Though I find it odd at turning points, it creates very clear signals. However, I'm still in the calibration process.

It all fits perfect in the picture, especially the OTR chart. The sequences repeat themselves constantly. (especially pace sequences in combo with Tick formations) I find it very usefull at turning points, which is where we Bank, obviously:)
 
Just looking for some suggestions here....

I have just had a very good day, but I am exiting most of my positions and feeling frustrated. I have about half the gains I could have had. Does it get easier, as one learns more, to detect when to get out and when to stay? I thought about getting out earlier, but decided to hold since volume was good, and everything, after a midday turn down, had started back up again. Then came the late afternoon selloff.

I think the weakness in my monitoring is not being able to detect when peak volume has been reached and its implications.

I guess I should not complain on an up day. Still, it IS incredibly frustrating.

JF
 
ES

That red/green paintbar line across the bottom of the price chart indicates when either Volume is low or price is moving slowly(more lateral than up or down) = red = hazard zone for beginners.

Today was almost totally red! But that last run down moved well! :)
 

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Here's a quick peek at the 15min ES for today. I keep a small window in the corner so that I do not lose sight of the bigger picture. The morning almost all lateral, yet slow steady up -- I believe that is what we call an iceberg for the truly patient folk!

Then the cliff in the afternoon...

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1921109>
 

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Quote from Jesus_Freak:

Just looking for some suggestions here....
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Stop focusing on your P & L immediately. Learn to trade, and the P & L takes care of itself. It won't need you to worry about it. :D

- Spydertrader
 
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