This is a collective response.
Reading the various posts is very worthwhile; it enables a person to get a perspective.
After I worked at my first job and began the trading, I wound up with a lot of time on my hands.
I remember when Ted Turner first appeared in the NE yacht racing circuit. He came north from the SORC contests. Plastic had largely replaced wooden designed boats and Ted had a Cal40 in his early days.
I handicapped for the NYYC and we all figured out the best racers used second hand sailboats they bought when rich racers up-graded.
Racing in deep water has two major dimensions: weather and water currents. I guess it is just like Super Trader saying he loves to look at charts. In racing, I liked to look at the weather and the water. Races that last only a few days also involve the consideration of the coastal tide tables.
My nick name was "Pixie" in those days. LOL...
So, in trading, is it theoretical or discretionary or just very pragmatic. In sailing, if there is another sailboat in view, there is a contest going on.
In trading there is no competition and, amazingly enough, it all comes down to, very thoroughly, deducing what the market does.
Markets are flawless, noiseless and have no anomalies. as paddler suggests, he hasn't gotten too far along the path. He still sees flaws, noise and anomalies.
To win in sail racing you have to finish first (including your sailboat's time adjusted for the handicap. A200 mile race can end within 6 or so minutes. I remember once crossing the line second within 6 minutes and the other sailboat had to give me 8 1/2 minutes. Both boats batteries were dead; none of us had dry colthes and we were all hungry since the dangers precluded cooking and eating most of the race.
I remember over 110 miles out our boats were on opposite tacks in 15 foot swells and we were both fully reefed in on every sail. for us we had life lines all around and no one was alowed foreward of the main mast. We both bore off and our sterns, by momentum, almost swerved into each other.
Wha is it like to make use of every data item the market provides? What is it like to equip yourself with a fully differentiated mind for the task?
It is the greatest sport and the most imaginable set of pleasures. So now Ted has 2,000,000 acres of farmland and wilderness which he stewards. Pretty woman is a song he lived.
What did make the noise become information instead? What was within an apparent flaw to others. What seems to always be "beating up" the untried minds who try to learn to trade?
The practice of looking at charts is definitely NOT the main event.
Building the mind is the main event. Reason is the machinery used.
So if you see flaws and noise and anomalies, what type of reasoning did you adopt which was a mistake made by you? you are using induction. this is a mistake and, nfortunately, "erasing" in the mind is not usually possible and never a likely resort to correct a mistake.
How did paddler draw that "theoratical pronouncement of his? He thought it up.
One of the most humorous choices for trading is the one minute chart.
we made a three column table to describe a cycle in a market. concurrently, there are about 7 fractals going on. I guess you could log all seven. But what would you be observing to do that?
Why does paddler see noise, flaws and anomalies? What do his logs look like?
when I meet a person and he says he is interested in getting to be very rich, I have just one suggestion. A beginner drill.
I have found that if a person fills in a three fractal log for five cycles of the slowest fractal, his mind has a framework within it upon which to integrate all other facts of how the market works. A have a typed up answer sheet as well as the blank five cycle pages which are easy to fill in.
If I email it, then it never gets done because the person does what is known as a "cut and paste" to save himself some time.
Few remember when Nitro wrongly accused me of cut and pasting a print of a Day's trading. For Nitro what I did was like Paddler's conclusion that what I suggest is just theoretical.
We spent over five years explaining what we do. The learning process was planned and organized to afford enough time for a person's mind to be built.
Take the weekend to figure out everything you need to know.
Put your trading fractal between a slower and a faster fractal. This alone eliminantes most of what paddler can't understand as yet.
Figure out how fast you want to do trades.
Look at all kinds of displays to get a bunch of leading indicators of price.
I began with an eighth and a share. Later I did a contract and a tick.
I couldn't trade round lots at the beginning in 1957, so I paid a penalty. There was no PC, no copier and no source of charts. I invented a chart and brownlined it at the blueprinting machine at IBM. I got the WSJ and saved the back page and put them between sticks of wood so I could backplot enough of a chart to begin to trade a new stock.
five years later I bought a toy called a yacht. fairfiled county bank and trust would only take stock as collateral for the sailboat. 100% collateral. I got a two year loan, principal only and paid it off with more than the sailboat cost as left over collateral which had more than doubled.
As a joke, for the last six months of the loan (25% of the time of the loan) I traded three consecutive listed stocks on the NYSE. Remember Bullard and Bullova (sp) watches. LOL. No one noticed at the bank.
A word on displays. The leading indicators of price come from an assortment of displays. There are some dummies still around who think various aspects of displays are lagging.
Quell that mistaken thinking for a moment. In trading, you can only use the mathematics that the market dictates. Most platform sellers and leasers do not know this. BUT you do.
We made a three column list. Each of the columns it told to you by the market. So write down the what, when, why and how you know each one of these things works.
Look at what you wrote that was just before the happening you wrote up. N is the happening and its leading indicator is the n-1 thingy. When you see the n-1, next you get the N thingy.
Rewrite what you wrote in the form of Boolean algebra. By honing in on the market's operation in the math of the market's, you get to be very very precise in terms of the Order Of Events.
lets say you have an IT type education or you took geometry in school. If you did, then make a flow chart of the circuits you wrote up. Then code it so it fills in a log for you. If you do not know the maths the market uses (Boolean algebra) then just take what you wrote and make columns of a log. You can keep track manually.
Blowinsky is one of the ET'ers who steals everything he can. Read how he stole the first flow chart of the beginner level of the cash cow. Also read his commitment to using Fidelity's mess of snippets. LOL Can you imagine what it would be like for him if he got the intermediate version of the cash cow. It was 170 pages long in a combo of text, charts. flow sheets and Excel scripts. we all know MACD is a lagging indicator. Wrong.
Reading the various posts is very worthwhile; it enables a person to get a perspective.
After I worked at my first job and began the trading, I wound up with a lot of time on my hands.
I remember when Ted Turner first appeared in the NE yacht racing circuit. He came north from the SORC contests. Plastic had largely replaced wooden designed boats and Ted had a Cal40 in his early days.
I handicapped for the NYYC and we all figured out the best racers used second hand sailboats they bought when rich racers up-graded.
Racing in deep water has two major dimensions: weather and water currents. I guess it is just like Super Trader saying he loves to look at charts. In racing, I liked to look at the weather and the water. Races that last only a few days also involve the consideration of the coastal tide tables.
My nick name was "Pixie" in those days. LOL...
So, in trading, is it theoretical or discretionary or just very pragmatic. In sailing, if there is another sailboat in view, there is a contest going on.
In trading there is no competition and, amazingly enough, it all comes down to, very thoroughly, deducing what the market does.
Markets are flawless, noiseless and have no anomalies. as paddler suggests, he hasn't gotten too far along the path. He still sees flaws, noise and anomalies.
To win in sail racing you have to finish first (including your sailboat's time adjusted for the handicap. A200 mile race can end within 6 or so minutes. I remember once crossing the line second within 6 minutes and the other sailboat had to give me 8 1/2 minutes. Both boats batteries were dead; none of us had dry colthes and we were all hungry since the dangers precluded cooking and eating most of the race.
I remember over 110 miles out our boats were on opposite tacks in 15 foot swells and we were both fully reefed in on every sail. for us we had life lines all around and no one was alowed foreward of the main mast. We both bore off and our sterns, by momentum, almost swerved into each other.
Wha is it like to make use of every data item the market provides? What is it like to equip yourself with a fully differentiated mind for the task?
It is the greatest sport and the most imaginable set of pleasures. So now Ted has 2,000,000 acres of farmland and wilderness which he stewards. Pretty woman is a song he lived.
What did make the noise become information instead? What was within an apparent flaw to others. What seems to always be "beating up" the untried minds who try to learn to trade?
The practice of looking at charts is definitely NOT the main event.
Building the mind is the main event. Reason is the machinery used.
So if you see flaws and noise and anomalies, what type of reasoning did you adopt which was a mistake made by you? you are using induction. this is a mistake and, nfortunately, "erasing" in the mind is not usually possible and never a likely resort to correct a mistake.
How did paddler draw that "theoratical pronouncement of his? He thought it up.
One of the most humorous choices for trading is the one minute chart.
we made a three column table to describe a cycle in a market. concurrently, there are about 7 fractals going on. I guess you could log all seven. But what would you be observing to do that?
Why does paddler see noise, flaws and anomalies? What do his logs look like?
when I meet a person and he says he is interested in getting to be very rich, I have just one suggestion. A beginner drill.
I have found that if a person fills in a three fractal log for five cycles of the slowest fractal, his mind has a framework within it upon which to integrate all other facts of how the market works. A have a typed up answer sheet as well as the blank five cycle pages which are easy to fill in.
If I email it, then it never gets done because the person does what is known as a "cut and paste" to save himself some time.
Few remember when Nitro wrongly accused me of cut and pasting a print of a Day's trading. For Nitro what I did was like Paddler's conclusion that what I suggest is just theoretical.
We spent over five years explaining what we do. The learning process was planned and organized to afford enough time for a person's mind to be built.
Take the weekend to figure out everything you need to know.
Put your trading fractal between a slower and a faster fractal. This alone eliminantes most of what paddler can't understand as yet.
Figure out how fast you want to do trades.
Look at all kinds of displays to get a bunch of leading indicators of price.
I began with an eighth and a share. Later I did a contract and a tick.
I couldn't trade round lots at the beginning in 1957, so I paid a penalty. There was no PC, no copier and no source of charts. I invented a chart and brownlined it at the blueprinting machine at IBM. I got the WSJ and saved the back page and put them between sticks of wood so I could backplot enough of a chart to begin to trade a new stock.
five years later I bought a toy called a yacht. fairfiled county bank and trust would only take stock as collateral for the sailboat. 100% collateral. I got a two year loan, principal only and paid it off with more than the sailboat cost as left over collateral which had more than doubled.
As a joke, for the last six months of the loan (25% of the time of the loan) I traded three consecutive listed stocks on the NYSE. Remember Bullard and Bullova (sp) watches. LOL. No one noticed at the bank.
A word on displays. The leading indicators of price come from an assortment of displays. There are some dummies still around who think various aspects of displays are lagging.
Quell that mistaken thinking for a moment. In trading, you can only use the mathematics that the market dictates. Most platform sellers and leasers do not know this. BUT you do.
We made a three column list. Each of the columns it told to you by the market. So write down the what, when, why and how you know each one of these things works.
Look at what you wrote that was just before the happening you wrote up. N is the happening and its leading indicator is the n-1 thingy. When you see the n-1, next you get the N thingy.
Rewrite what you wrote in the form of Boolean algebra. By honing in on the market's operation in the math of the market's, you get to be very very precise in terms of the Order Of Events.
lets say you have an IT type education or you took geometry in school. If you did, then make a flow chart of the circuits you wrote up. Then code it so it fills in a log for you. If you do not know the maths the market uses (Boolean algebra) then just take what you wrote and make columns of a log. You can keep track manually.
Blowinsky is one of the ET'ers who steals everything he can. Read how he stole the first flow chart of the beginner level of the cash cow. Also read his commitment to using Fidelity's mess of snippets. LOL Can you imagine what it would be like for him if he got the intermediate version of the cash cow. It was 170 pages long in a combo of text, charts. flow sheets and Excel scripts. we all know MACD is a lagging indicator. Wrong.
