Iterative Refinement
- Thread starter Spydertrader
- Start date
Thanks Jander and TIKI
You are so correct. I was cleaning out some files and started reading part of a pdf Pr0crast made. It's amazing how much more sense some of that stuff makes now.
I wish I had more time and will most likely make some, because it is clear there is a benefit in reviewing that material. I've been in a lock down type mode. Trying not to take on anything new or disrupt the current process. It has been a long journey but lately things have made so much more sense, I feel the need to let my brain absorb and process it's current state of realization before making another move. So close now,
Hope that makes sense, I'm sure it does to many.
Glad to see the thread will continue.
Glad you posted this TIKI. This is something I have been trying hard to understand. I believe that we reached a pt 2 of a super channel on Friday ( a 9 traverse leg) that ve'd your purple channel but ftt'd a steeper channel that you have as a blue traverse. If so, then the traverse that started at the end of day on Friday is now dominant down in a larger super channel non-dom 2 to 3. If correct, I expect a 7 traverse leg that will bring us to a pt 3 of the super channel(thick white line)
Anyways, its cool to understand where price is sitting currently on multiple fractals.
Me too. It is a rare day when there are not any unclear area's and I rarely can fit everything together perfectly. This is not necessary to profit though. Plenty of clear areas to work with.
Trust what you know and respect what you don't know.
The unclear areas will work themselves out just like everything else has.
Patiently working and waiting.
This describes my experiences very well. Unfortunately it is the stuff I think I know that causes great harm and often tips the scales to unprofitability for me. No doubt at times I do not exercise the discipline to sideline when I should, but since I am aware of my "uncertainty" I am quick to exit.
There are other times, however, that I am sure of what is happening just that it isn't. Usually these are times that the market didn't do exactly what I thought it should do for an SOC and I simply refuse to "not trade well" and exit or reverse, because I am waiting for the real SOC to show up.
I know I am ever so close to being consistently profitable, I just have to deal with the thick headed dude at the mouse
. I have to get myself out of the way firstAlthough it has been talked about but briefly in the thread, the old IF1/IF2 really is a good way to force you not to hold past a very well-defined point when you have one of those "Great Moments in Live Trading" experiences.
It's one thing to go for a ride on a sim, but when the market goes against you for real, where for real = an IF1/IF2 scenario with your money on the table, then it means you made a mistake. What you thought was an FTT (SOC) wasn't and now you're in an FBO and you know where that's going to take you.
I got to experience this last Friday and to further abuse myself after taking 10 ticks, I've been eating tofurkey and drinking goat's milk all weekend.
I will not do this again. I will not do ..., etc.
lj
It's one thing to go for a ride on a sim, but when the market goes against you for real, where for real = an IF1/IF2 scenario with your money on the table, then it means you made a mistake. What you thought was an FTT (SOC) wasn't and now you're in an FBO and you know where that's going to take you.
I got to experience this last Friday and to further abuse myself after taking 10 ticks, I've been eating tofurkey and drinking goat's milk all weekend.
I will not do this again. I will not do ..., etc.
lj