Iterative Refinement
- Thread starter Spydertrader
- Start date
Quote from ehorn:
STOP looking at P/L!
Instead count up all the continuation and change signals you accurately identify in a day. This will lead to MUCH larger profits than 15 pts. Then you can have 2 smokes and 3 shots
Yeh but I'm doin' a 100 cars a rounder dude. No, I hear exactly what you're saying ehorn.
lj
Well then... can you spare a smoke and a shot for the less fortunate
I hope you do know what I am saying. The method requires a shift in mindset. A seasoned practioner in these techniques would be expectant to make the offer each and every day (whatever it may be).
But, of course, once an individual has earned the privilege to move 100 cars around, he/she can end the work day much earlier and still enjoy a fairly nice lifestyle.
Thank you for the feedbackQuote from ehorn:
I butchered up your debrief chart a bit
. I added some of your annotations in black for a contrast.A) Does not seem like a traverse to me. May be because I don't see the change signal prior to the Lateral Movement.
B) Definitely makes sense. I did not annotate it because I noticed that Spydertrader does not fan outward (deccelerate) an accelerated/fanned inward (in my case red pt3 down) traverse if the price is still inside the original traverse (in my case pink pt3 down).
If I were to take a guess, I'd say that may be because it seems a bit over-redundant.
C)This one is really tricky.
One one hand 1345 and 1350 eob create a lateral formation followed by BO on increased volume and more increased volume, so that meets the criteria for a change in trend.
On the other hand, there's a Lateral Movement that started 1330 eob, and when 1400 eob creates BO of the Lateral Movement on increased volume, the next bar fails to show more increased volume. And that means the trend did not change. May be some subtle clues exist to resolve what appears to be a 'conflict' but I don't see them.
1. Did you mean that one of the down traverses (B) or (C), added by ehorn in the attached, is a dominant traverse in a down channel that I missed,
or
2. Did you mean that his correction with respect to one of the down traverses (B) or (C) was not correct.
Quote from ehorn:
But, of course, once an individual has earned the privilege to move 100 cars around, he/she can end the work day much earlier and still enjoy a fairly nice lifestyle.
fairly nice lifestlye??
Re: your other point, which I agree with BTW
I like the idea of not monitoring P&L/#of points/etc. I know Spyder mentionted this early on. However, there seems to be no gray area w/ regard to signals of change. Therefore, it is tough to debrief w/out knowing what the exact signals of change were. I feel like I'm guessing because unfortunately Im not at a point where I know yet.
I would request that someone that does know help us out, like Spyder does occasionally when he posts the proper change signals for a given fractal during the day. I get the most benefit when he does this as I can compare my notes to the 'answer guide' if you will, and leads to less confusion over was/wasnt that a signal.
If this is not possible I understand, and would appreciate any valuable drills that folks have found success with in determining the correct points of change for the day. I do like what LJ began today, although I havent had a chance to understand it just yet. Weekend homework. Thanks guys, enjoy the two days off