Quote from Stalker:
Thank you very much!
I´ve read your reply a couple of times and it seems very interesting. I´m gonna check out the gigantic 500-post-thread about this subject as soon as possible so I don´t have to ask a hundred stupid questions.
Just short about two things - synch? never heard the term, vad does it mean?
The four different channels, have you written something somewere that explains how to draw them? I´m not sure what is refered to when saying traverse, intermediate trend etc. What seems to be most difficult is to draw the channel in the shortest time perspective. How can you draw a channel predicting where price is moving? Seems difficult to me to draw it in advance...
thanks again,
Stalker
Super post for raising the essential and salient factors related to making money.
We have us and we have the market.
To lessen the space between the market and us there are things we can do.
I brought up the extent to which it is wise to go to eliminate most all of the unknowns.
As dull as it sounds, after that there is nothing left to do but make money.
Two topics. Eliminating unknowns. Making money.
Not knowing synch is common. Most people get faked out at the beginning of the day and have a first loss because of it.
You watch the spread on DJ cash and YM to see it come to the neutral value of the stretch and squeese of the prior day. It is part of setting up your logging and records as the day begins. before open you do a preflight check to get all boundaries and the "season" of the market straight. These few next weeks everything changes to handle the last half of the money making for the year. Labor Day in the US is the line in the sand for the halves.
Bar three usually ends synch and the BO of bar four is a good arbitray entry for makng first hold leading to first profits.
You carry over the lines of the prior day before open and they are all sitting there in the blank space on the right of your screen. All losing traders do not have a blank space on the right of their screen. To find out if you are a loser look on the right side of your screen. If there are bars rubbing on the right side, you are a loser by definition. This will cause a few people to get off their tails and move the active bar to the near middle of their screen.
Now we see the axis of symmetry of the past and future. It is the NOW bar. The now bar changes 81 times a day as the future moves to the left past it to become the past.
You say:
Seems difficult to me to draw it in advance...
There is a space there. there is now room to draw it. Now is when you draw it and not in advance of NOW; that is difficult. NOW or even at the first opportunity is when you draw it and
E X t e n d IIIIIIT!!! ....... to the right side of the screen. Notice you may have to adjust the vertical scale or move the price pattern up or down to get to the right side of the screen.
We are working through some major changes here. Seeing the future coming into view is a first for a lot of ET people who are doing more than just reading this.
It is worth stating that most people are in fear of the market. Someone recently said he sometimes lets his guard down and then he learns how dangerous the market is. It is his adversary from what he says. Can you imagine all those traders fighting the market and their bar charts are all jambed up against the right side of the screen and they think the future is outside and to the right of their CRT. Its out side the box and cannot be seen.
Jeeees.....just move the chart to the left and the future is right there to see and annotate NOWWWWWWW!!!!!
Why not just let the future come to you after you hve been looking at your annotations that go into the future.
Look ahead........... at what you annotated!!!!!
Mostly everone here knows I program people. You can see how I am programming you. I need you to become concioius of what you need in an orderly way. Some do some don't. You can become concious others are too shot down to resume gaining conciousness.. I program and it does work or it doesn't. That is continuing....
So now we have made a place to work and it is a killer money maker.
What seems to be most difficult is to draw the channel in the shortest time perspective.
Ahhhhhhh. Well then, lets do it in the shortest time possible. You will find that you are an amazing person......
You absolutely in one word state what is required to make money. PERSPECTIVE....
First we made a place for it and now we are filling it up to be able to putt like crazy.... Sometimes by invitation I got to play the Rider Cup courses a head of the rider cup tournaments. There are no excuses for missing a putt on a prepared course. My son began to play St Andrews in the 5th form.
Print this and paste it on a three by five card. When the card wears out you will have it down:
The shortest time frame channels are drawn using
consecutive bars. Three points determine a channel.
The first and last form the trendline (right side) and
the other point is where you draw the line parallel
to the trend line.
This is the essence of making money. A point needs to be made. There is one religious expereince required for this to work. You have to believe for a while that a parallel line as opposed to all other choices is the right choice. It is the right choice because in one fell swoop( a bird dynamic move of excellence) it merges market volatility with short trem human behavior.
Using the 3x5 card statement it is almost impostible to not extend lines past the end of the second bar. Go out about ten bars and see if the stress level you feel can be accomodated. Do it in a room alone if you find the stress overpowering. finally try to get the line to go to the right side of your display or stop at the first other line that it would have tried to cross.
Because I am working from the last thing you asked (as usual) to the first, you may not see other lines that you feel are easier to draw that the difficult shortest lines are. No matter, we can erase in time for Monday.
more.....
