Iterative Refinement
- Thread starter Spydertrader
- Start date
From what I can tell based on various comments Spydertrader has made and from my own observations, it seems to me that one aspect of an OB is that it's a bar that is sensitive to (or rather prone to?) intrabar changes. Perhaps more so than other types of bars.
I am observing the dynamics of price movement and there are some real differences between various OB's. It's WAY too dogmatic to simply try and define ALL OB's in a single way. Some contain strong acceleration in the direction of the close. Some just sort of wander about. And other variations too.
I admit, hearing SPydertrader say one more time "it's context dependant", causes me to want to scream. And, I'm slowly beginning to see the point. With OB's, the definition and the context and the resolution level are so intertwined.
Just as I was wondering if I was getting close on monitoring, tonight brought me down a peg or two. But that's ok
I am observing the dynamics of price movement and there are some real differences between various OB's. It's WAY too dogmatic to simply try and define ALL OB's in a single way. Some contain strong acceleration in the direction of the close. Some just sort of wander about. And other variations too.
I admit, hearing SPydertrader say one more time "it's context dependant", causes me to want to scream. And, I'm slowly beginning to see the point. With OB's, the definition and the context and the resolution level are so intertwined.
Just as I was wondering if I was getting close on monitoring, tonight brought me down a peg or two. But that's ok
ES U8 Daily Chart July 11 2008
Daily ES bar closed as an outside bar on increased volume and volatility.
Daily bar also closed outside of lateral movement that began on July 7.
Price did attempt right trendline of white dominant traverse and failed to b/o, returning to dominant direction and
increasing volatility expansion of dominant channel.
Range of daily bar = 36.25 points
Volatility to previous bar = 163%
Volume to previous bar = 108%
Close of bar = 39% of range
Daily ES bar closed as an outside bar on increased volume and volatility.
Daily bar also closed outside of lateral movement that began on July 7.
Price did attempt right trendline of white dominant traverse and failed to b/o, returning to dominant direction and
increasing volatility expansion of dominant channel.
Range of daily bar = 36.25 points
Volatility to previous bar = 163%
Volume to previous bar = 108%
Close of bar = 39% of range
You read it correctly. The trade blotter is from IB. Looks clear to me.
Is this SCT? If it is, maybe a one-armed version of it. I'm like the basketball player who has yet to teach himself how to dribble with either hand. So I'm constantly driving right, right, right. Luckily the market plays no defense whatsoever so I can score pretty much at will. Anyway, I'm not claiming to be an All-Star; I'm still working on my game.
I'm using the same tools you're using: coarse, medium, fine.
Do you have any particular objection to trading intrabar?
After the market failed to continue short from the open, I traded that area (trades 2-8) on med/fine opposite the whipsaw of people popping up long. The trades were brief in duration because I knew I was trading against the dominant side for that fractal. Apparently I did a sloppy job and so it looks like I was practicing wash trades during that time. Why didn't I play it long or on both sides by reversing? My left arm hasn't been lost in a farming accident so there's no reason for me not to drive both ways. In any case, once the short resumed, it was imperative to get in for continuation as sentiment was very bearish for the AM.
The trading was for an hour on another person's account that had taken some hits and was on the verge of requiring an infusion. I was especially aware of being able to wash a trade at all times. The blotter was posted in response to a request for a record of trades showing less than stellar trades. No doubt there is a great deal of room for improvement.