Spydertrader's recent "lesson" to Romanus really hit home. JUST annotating should be easy as cake. For me, JUST annotating is mental hell. I find myself constantly trying to play the prediction game. What I have noticed, is that if I let myself off the hook about everything BUT annotating, that I seem to be learning in an almost unconscious way. It's most uncomfortable, because I feel like I'm not the one in control of the process, but the more I pay attention to Spyder's instructions, the more I seem to move forward. There seems to be no way to force this stuff, it comes when it comes IF and ONLY IF you follow the instructions.
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Iterative Refinement
- Thread starter Spydertrader
- Start date
Quote from romanus:
Damn, I was not paying attention to that!
Note the three (of the four discussed last night) examples of Laterals in this morning's chart.
1. Lateral Formation which turns into Lateral Movement and holds no additional significance other than Price lines up nicely.
2. Lateral Movement which also forms a Lateral Retrace.
3. Lateral Movement which also forms a Lateral Traverse.
Three Laterals, each different, yet, the same.
- Spydertrader
1120 eob to 1220/25 eob. A bar that represents Lateral Movement based on it's close = bar that moves laterally because it's still within the boundaries of the annotated Lateral Movement (or formation). Both can't be valid point 3's ( or an FTT for that matter) despite their increased dominant volume. Cool!Quote from Spydertrader:
3. Lateral Movement which also forms a Lateral Traverse.
Quote from romanus:
1120 eob to 1220/25 eob. A bar that represents Lateral Movement based on it's close = bar that moves laterally because it's still within the boundaries of the annotated Lateral Movement (or formation).
Both can't be valid point 3's ( or an FTT for that matter) despite their increased dominant volume. Cool!
Romanus, the chart below from Spydertrader gave me a food for thought. I'm still trying to figure out the subtle differences.
Check out the two pink FTTs in the last green circled areas...
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1973634>
PS: Spydertrader, your charts are very helpful, thanks!
Thanks Spydertrader for the recent universe.
Got lucky and entered early on GIGM and taking nice ride on a tenured stock.
Yesterday and day before, GIGM showed oozing black which is highly noticeable when everything else is blood red in stocks.
Had debated going short on PWRD as it started out red, but reversed heartily. I should have gone with the reverse like JF recently had the confidence to do. Maybe next time.
Thanks everyone for all the helpful postings.
Got lucky and entered early on GIGM and taking nice ride on a tenured stock.
Yesterday and day before, GIGM showed oozing black which is highly noticeable when everything else is blood red in stocks.
Had debated going short on PWRD as it started out red, but reversed heartily. I should have gone with the reverse like JF recently had the confidence to do. Maybe next time.
Thanks everyone for all the helpful postings.