Question for Grob/Hershey...

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Quote from osho67:

Hi Ireland

Can you answer a question for me please ?...
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hey osho

your point 2 is valid imo - I just expanded the channel which is the norm with the left hand channel. See grobs example bottom of page 73 - his pink left lines keep getting pushed outward to form the bigger wider channel - he left his in place I simply dragged mine 'leftward'.

Grob/Mak might correct/enhance this reply if necessary.

Irl.
 
i followed the bid/ask volume again today, and i figured out it was more useful for scalping, reminded me of how tick is jumping up and down. I guess it could be useful in specific situations, like when to consider a reversal, but i think it would be useful to sort of smooth it out in some kind of way. I was just looking at the raw bid ask cum. numbers, wich makes u fuzzy after a while. Gonna check the post, thanks...
 

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It's good to see you posting charts Stalker... it helps to see how a variety of people are viewing the channels as they develop...
 
sorry :p

I refrase it - the channels and s/r-lines are doing a good job today. If every day was like this...
but i guess the "trading in a tight range jumping up and down a bit randomly" days are more common.
/Stalker
 

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Hi Ireland

Thanks for the reply, yes I agree you can expand the pt 2 to include a higher value thus pushing out the boundary of the channel, but this is only apparent later on, in realtime trading I would have probably picked up the other pt 2 as marked and produced a narrower channel.

This means I have additional trades, whereas the area you have marked, I believe implies you would have had a single trade and held, whereas I would have a number of trades and more importantly, it would be quite possible to have a few trades in the wrong direction, how do I overcome this ?

Many Thanks
 
Jack

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Quote from txuk:

Keep in mind Scientist was scalping for ticks, so a different strategy altogether. When sweeping in SCT the DOM is meant to be a fine control... most decisions are made without ever looking at it.

I linked to Scientist's post only because it made an impression on me and I thought it agreed with the realization that Mak described. I haven't yet resolved this in my own mind... it seems to defy basic supply/demand.

Note Grob made some very useful posts regarding the DOM in the proximity of scientist's post. Here is one that may help explain your experiences...
http://www.elitetrader.com/vb/showthread.php?s=&postid=412249&perpage=1
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A couple of items. I know there are a few of you here who are rigid. Without going furthur into specifics, sweeping is somewhat forgiving but at the cost of efficacy. Decisions to hold are made often and is heavily the resulting decision of coarse or coarse->medium monitoring & analysis. I knew I should have held off any notion of DOM and/or T&S wrt to the Right Side of The Market. Supply/Demand??? EASY THERE...

You're sweeping has put the 2 pair/Spike as the Fine detail. Monitoring the finer detail of the DOM continually is hyper as mentioned. What you would be looking for on the DOM is the minimum value that shows up on either side of the table; bsize/asize. It peaks out occasionally and not all the time. Its shift is where the immediate evaluation of the right side of the market lies. This is how you know momentarily whether you are in fact at the right side of the market. If your T&S is DOM sensitive shows all changes and not just every tick (ie. every top line change), you can just run the track of where the smallest of the two (asize/bsize) is residing at all times. It is not the immediate values that are always at the top of the DOM but is a specific smaller set of all the top values (ie. the itermittent smallest asize/bsize that periodically pops in to the top level).

SCT DOM is super advanced... I crammed some notes into my workbook on my commute in this morning. It is something that I am still processing. Scientist had a couple of aspects that are related. Since we are building our own internal machines iteratively, we always need to learn and know what is what aspect by aspect, level by level... Sweeping is the mechanism that prevents hyper activity. At some point, sweeping internally just turns automatic (ie. the riding a bicycle). You just do it.

My notebooks are getting jammed with so many SCT aspects and levels. It is somewhat overwheming since I am still building the capability to recognize all asects simultaneously... I am always having to wrestle with my mind to limit the number of tangential routes that become evident.

sigh...

Kind Regards,
MAK!
 
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