Question for Grob/Hershey...
- Thread starter makosgu
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Icarus, I thought this was excellent advice so I printed it and have it on my desk to read each morning before the market opens. I'm finding sitting on the sidelines tough but I made some progress with it today.
In previous weeks I've had the attitude that I will try something out and wash if it doesn't work, which led to very loose trading as evidenced by my twenty-two trades yesterday. Today I cut it down to seven.
I caught the beginner rocket and got 2.75 pts of it. Today I manually moved a stop forward as price increased to protect my gains. This is the first time I played the rocket this way and it worked well, although it could have backfired on an early retrace. I was stopped out 1 pt from the high. I could have entered .5 pt earlier if I had bracketed bar3, which is the textbook approach to beginner rockets.
The killer of the day was giving back 2.25 points of my rocket gains playing the IT BO on bars 18-21. After seeing the BO I made up my mind that I wanted a piece of the next move down and narrowed my focus to almost soley on price action. I didn't consider the WWT followed by several lateral bars -- I definitely should have been on the sideline. After this I was gun-shy and watched the entire tape down from bar 27 without taking action.
I made some of that back with a few small trades playing off the RTL. I left a lot on the table by getting out early on each of these but I didn't have the stomach to hold for very long today.
Net +2.25
Trends overlap. There's no other way to explain it. The difference is now I believe it. I was always trying to make them discrete -- which does work -- but thinking of them as overlapping gives you a little more information and allows you a little more data to consider when reading the chart.
It just looks to me you got a bit jumpy knowing what was happening on the IT and lost sight of where you were operating. Not a big deal, really.
You should feel good about the net +2.25. That is the point of spending time in front of the screens.
You were not at your best at all times today, but the positive is that you were shown the "reality" of trading. The reality is that the market is such that even when you are not at your best all the time you can still get the job done. What a confidence builder.
This is the answer to the Q's.
trends overlap.
That trends overlap becomes apparent after you have been doing the monitoring, analysis decision making over and over.
This means to everyone that the point 1, 2, and 3 channel effort is occuring while the price is still contained in the prior trend.
This means, effect that you have the potential to ride to the end of atrend and then optimally begin to pursue profits in the next upcoming trend as early as is possible.
Here the objective becomes, first of all recognizing the overlpa.
So how does B now opreate as he has attained this realization.
what he first sya (exclaims) is: I would have to go back ovewr two years of charts to show you this.
What this extremely pertinant thing is that he states is: Trend ALWAYS overlap. Once you see this you KNOW it as a fundamental truty that , therefore sahpes your analysis of the monitoring data set.
The data set contains the sufficient info for you to compare with the truth that has arrived in your posession.
As you riofle back through past logs, journals and annoted charts that you has ditifiully assembled you"SEE" that channels overlap.
What if you extend this knowledge to the ST, IT and LT channels. Then you see thisperiod of overlap beginning well before the trading boundaries you are using.
now it becomes apparent that you have,yet one more "anticipatory" subset of signals allowing you to more effectiviely front run the market.
It is not a coiincidence at all in any way what so ever that the dream team is saying things about integrating the sewweep focal points (Mak ) the easu and icarus are saying the inferential things they say and that B has had a eureka on the channel overlap. This is what Barbara Marx Hubbard was suggesting in her oncept of sinergistic convergence among isolated groups that merge into larger common purpose groups. Doxiatis out of greece did the same with Ekistiks, the science of human settlements.
this is a team of people who have a common purpose to excell in regard to caommon purpose. the ultimate purpose is to come into oneness with the market. You can pragmatically see these stages occurring. there is no such thing going on here about being "right". We all are about the business of developing a consciousness of reality. All in a context of a market that is huge and which behaves to continually "integrate". we are able to go with the flow and be grooving right along with the market.
At this point we are achieving having a sense of the relative importance of things. we know what is relatively important. that allows us to have perception in a context of significance and sufficiency. This is coming into the consciouness of reality.
Waht if you work to understand. this means what if you exact the truths. When you do you have something. That something is there among all the toher somethings. gradually each begins to touch the other. The places not yet filled begin to glow in their absence. Those absent places become conscious to you as places to focus and learn all in proportion to their importance.
you can even define where you need to work.. waht isthe work . It is the drills. to do a four stepper is a way to turn the job over to your other self. the one beneath your consciousness. that self is always there unsatiable in the sense that it always seeks to order the unknown to you by taking all the smal; benthic pieces lying about on the bottom of the container and build them up into a usable filler for the spaces in your consciousness.
You have to stop and reflect on where you were and how the dots are all being connected cooperatively nowadays.
If you are capable of nailing 2 or 3 points on a rocket, then you get to know when to stay out of the market. Think. If you know when to be in, you also know when to be out. If you know when to be out, you know where to work on being able to be in in the near future.
If you knock down 2 and 3 points is a small portion of the day you know to learn to knowck down profits in the other parts of the day. Annotaing the channels and traverses is the way to go into those places. A rocket is the classic no risk trade. Done with annotations that are callssic because the boundaries are totally filled. now we look at time when the "coverage" filling of the boundaries is more selective by examining the faster factal filling processes.
We are looking at a traget of three times theH-L of a day and by now you know how that H and L are established as the day goes on.
As we begin to optimize, I will speak more and more about things that you will want to become conscious of.
The quant world and approach is a paradox and a dilemma. By knowing that you do not have to strive to predict but only deal with the possiblilities of NOW and to couch them in the anticipation that you "grow into" via learning that the market continually shuts down alternatives as it gets to the PRESENT (NOW), you become one with the market.
The fact is that people here are stating time and time again that they are arriving. Peers come into this space from different angles and tradjectoris simply as a consequence of their life paths. as the change out occurs for myths for truths, the bulls eye is finally hit.
This convergence is getting audible and even visual by now. people are begininng, even, to see the same market as we all work side by side facing more and more in the same direction and having more and more whollistic tols to work with.
at some point people will act more and more upon their beliefs and get the rewards. this snowballs as you all know. You will feel then know that you know.
So you more and more arrive at being in the market. This means taking profits and tacking (as in sailing and skiing) smoothly into the next trend. gradually you see the swells and the waves on the swells the the wind brown riffles on the waves. All of these levels are what the potential of the market is showing you.
We all are becoming front runners on the oceanic surf. the oceans never stop delivery energy that has been attained from other forces. we are getting to the harmonious "anticipation of the application of these forces in the very huge market place.
Read and see what you find every day. Here what is gong on is a synergistic convergence of knowledge, skills and experience.
we have the picture there in front of us. we see the LT, IT, ST, the dailies, the gaussians the DOM all in the context of the projected boundaries which are put in place ASAP. we see that a trendline is a market truth always to the right of price movement. How nice that the new trendline is on the side of profit taking as we go through the overlap of one trend leading to another.
It is like a lauughable thing. I say channels overlap. some time later for another person the belief sete\s in . He knows channels overlap. another person gathers from him the possibility tht channels overlap...... They do for the team after a while. this, of course, is the truth of al the truths the team embodies and practices. So now we are embarking on optimising our successes.
we re letting the emphasis on contining to hold to make profits begin to focus on optimum profit taking and concurrently entering the next periond of continuing to make money. We have moved very far away from entries and exits to a place where contining and changing are the diad we monitor, analyze. decide about and take timely action with regard to.
It is very tough to give up entering and exiting as a modus. You have to get to the place where you allow yourself to look at the market from a different vantage point.
Trend channels overlap. Good to know.
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