Iterative Refinement

Quote from R/R:

nkhoi: I think the Channel pt1 would start from the 3/30 low ~15:00
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yes, if I start P1 from the prev day I will have a steeper channel and the last down traverse will fall out of the channel sooner. But if you slide today chart down vertically to align it with the prev chart then you will have a flatter channel. At 10am I abandon the P1 from prev day and pick a new P1. It's a day by day consideration.
 
Quote from CDNpatriot1:

Any suggestions on alternate exit strategies?
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Beginner Level Traders focus on trading in the dominant direction of the trend. As such, You might want to avoid trading between Points Two and Points Three.

See Attached.

- Spydertrader

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2371325>
 

Attachments

Quote from Neoxx:

The Day
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Neoxx,

why does your first lateral (ending on 15:00 on you chart) does already ends at that time? The next bar does close back inside?

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thanks,

innersky
 
Quote from innersky:

Neoxx,

why does your first lateral (ending on 15:00 on you chart) does already ends at that time? The next bar does close back inside?
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The next bar is an IBGS on increasing volume.
 
Quote from innersky:

so you're saying that a change signal ends a lateral? or only an ibgs?

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innersky
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My understanding isn't sufficiently comprehensive to answer this question accurately, but I believe Spydertrader has addressed this point many times in the past.
 
Quote from guavaman:

Monster day, monster losses. I have to wonder what my losses would be if I hadn't invested 1000s of hours of study. Hmmm.
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it will be relatively less, but you don't have any chance to make profit either.
control your loss and listen harder.
 
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