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Iterative Refinement
- Thread starter Spydertrader
- Start date
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Anyone trading at the 'Tree' Level (Traverses) should have made a maximum of three trades the entire day.
Short from 9:55 AM
Reverse Long at 14:10 PM
Reverse Short at 15:40 PM
Exit at 16:00 PM
(All Times Eastern and Close of Bar)
If you felt it wise to make additional trades, or if you felt it wise to trade on the long side during this time, and you trade at the 'Tree Level' (Traverses), then spend some time looking for what you missed.
- Spydertrader
Short from 9:55 AM
Reverse Long at 14:10 PM
Reverse Short at 15:40 PM
Exit at 16:00 PM
(All Times Eastern and Close of Bar)
If you felt it wise to make additional trades, or if you felt it wise to trade on the long side during this time, and you trade at the 'Tree Level' (Traverses), then spend some time looking for what you missed.
- Spydertrader
This type of post is actually extremely helpful.
On unrelated note: 1540 YM eob shows increased black volume with price closing outside of boundaries of the previous bar. 1540 ES eob shows change. YM and ES show conflict and YM always wins by default
. Can anybody help me out with what I am missing here?Quote from romanus:
YM and ES show conflict and YM always wins by default
You do not 'see' the answer. There are no 'conflicts' save those created in the trader's mind.
As such, you need to go back in time. Rewind the video tape to January of 2007. At that time, the 5 minute ES Chart represented the only tool available to a trader starting to learn. At that time, I advised not moving forward until one had fully grasped the concepts required.
You missed something, but moved forward anyhow.
This isn't a "YM leads the ES" sort of thing. This is a monitoring thing.
Set aside what you think you know for now, and focus on creating a thoroughly annotated chart.
Close everything else. You do not need it.
Often, you'll know change on your trading fractal is forming. Sometimes, you'll have the ability to 'see' a Point Three or FTT forming before the bar completes. Focus your attention on these points in time. How did you know? How does this differ from times where you cannot 'see' things clearly until later? How are they the same?
Do this for 20 charts - even if the charts are at end of day.
One learns much more from annotating than simply how to draw a trend line.
One last thing ....
This isn't an "on the right track" sort of deal either. You 'see' it or you don't - binary, not gradient. There will be no need for confirmation once you 'get it.'
Start at the beginning, set aside what you think you know, and annotate the ES charts only, over and over again focusing on the why and how.
I suspect, once again, quite a number of others need to follow these directions as well.
- Spydertrader