Question for Grob/Hershey...

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Quote from txuk:

Very interesting pictures Mak, thanks for sharing. Images like these stimulate thoughts of my own on how to monitor market data in non-conventional ways.

Can I assume your advanced system is entirely at the fine end of the spectrum? If so, do you feel this is optimal, or do you intend to introduce courser monitoring to hold longer? It looks like a very large number of transactions would be signaled.
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VERY KEEN INDEED. :cool:. For anyone with rock bottom fees it is a killer. My fees are far from rock bottom hence the isolated session. All your Q's are exactly on point and is at the current heart of my efforts in idiot proofing and preventing overtrading. This fine end is a singular change/shift of the minority that is gated with the DOM's drive to zero size... It is right at the fine vernier between the present and future (ie. it is always at the now fringe which incidentally is just the bid/ask pair). I can't get into too much detail yet simply because there is alot of prefacing that would be required. Alow me some more time to work out the boundaries and extrapolating across concurrent fractals. There are some override mechanisms that need to be overlayed.
 
Quote from Stalker:

I don´t know if I understand you fully, but I´m working alot with the four steps and the sweeps.
In the beginning I was only interested in what jack said about volume, channels, formations and so on, but I´ve come to understand how important these things are. To have a routine for how to monitor and make decisions and to focus on how emotions effect the analysing part. It´s very easy to start seeing ghosts if you don´t stay sharp.
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Working with the four steps Jack has laid out is a good idea. Wouldn't it be neat for a beginner to really see for himself what he "knows" about the four steps? Maybe he might decide to sit down at a desk with a pad of paper and pen and write all he knows about each of the four steps on separate pages. Treating each step individually he could write about them in any order. He might decide that starting with the "easiest" step would be good. After a few sentences he might find that there isn't much to the step at all and writing more sentences wouldn't add much to what he's already written. Probably nowhere on the page will he find that he used the word "emotions" in writing about this step.

Let's say he does this for the remaining steps. He might find that for another step he is listing a bunch of items and writing about them individually. To save time and energy, he might just insert a reference to a document that he has already made or, more likely, that has been given to him with a name assigned to it. He might then see that the document whose importance he emphasized to himself is just a part of one of the four steps.

For another step he finds that he doesn't have much leeway in what he can write about, and that what he knows about the parts in the step doesn't come from the person who turned his mind to consider trading as a four-step process. What he writes about might be taken out of a manual. He might also think that a different name for this step would serve better.

Finally, there will be the step he finds especially challenging. A lot of questions might pop up that he does not have answers to. It won't be necessary to do an experiment to prove that having a trade on won't assist in getting the answers either. Probably he's already done such experiments inadvertently. In any case, being stuck, he might look at what comes before this step and see that what he wrote for that preceding step doesn't tell him much of use at all. Maybe then a little light will shine on the experience he has while he is sitting in front of the screens during market hours.

Doing this exercise could point to a useful direction. Or maybe this is a silly exercise. Who wants to scope out what he thinks he knows about anything anyway?
 
Being a swede it´s not easy for me to understand exactly what you mean, but i realise of course that the problems with the button pushing has to do with my lack of experience, and therefore insecurity about analysing-decision making.
I´ve got pages of notes about these small details that doesn´t come from Jack or anybody else, things i´ve found out by myself over the last 6 months that I strongly believe in.
Is it enough? I don´t know. I will have enough spare time to trade full-time in Januari so I might as well publish proof of my bleeding here. :)

/Stalker
 
Yes I do see that using English is no small limitation in our communication. In the previous post I wrote about MADA in the following order: Acting, Monitoring, Deciding, Analyzing. The referenced document in Monitoring is the Sweep document.
 
When reading and speaking a foreign language you always miss the "fine print", the details. It´s very frustrating to me, since I work as a journalist. I can see that I appear ten years younger and a lot dumber then I am when I write in english, but there´s not much I can do about it.
Irony, subtle details - I usually don´t get it.


None of that has anything to do with my understanding of / lack of understanding the markets though.

Would it be of topic if I showed charts with my trades every day in januari? I think it would be a help for me to get some comments. I don´t feel like starting a journal at all, but if it´s to off topic to show the charts here I´ll just keep my mouth shut
:)

/Stalker
 
I definitely don´t think about it as *my thread*, but I´ll show charts with my trades everyday in januari as long as no one protest too much. Hopfully it will make me more disciplined and maybe some of you can comments on what I did wrong/wright.

/Stalker
 
Stalker,

I think many of us will benefit from what you intend to do with charts etc. I KNOW I don’t know a lot of things, and as you say it is the finer things that you catch subtly when reading the posts here. But the ability to admit lack of understanding is difficult to overcome on a public forum such as ET, glad to see someone has the courage to admit it, though on your end it may simply be the language barrier, whereas for me it is the understanding part. Thankfully there are several people who seem to have things up to snuff and are willing to share their experience with those of us lacking it.

Mak…. I see you’ve been busy and looks like your efforts are making significant progress, congrats.

Thanks all,

Ex
 
Quote from Stalker:

I definitely don´t think about it as *my thread*, but I´ll show charts with my trades everyday in januari as long as no one protest too much. Hopfully it will make me more disciplined and maybe some of you can comments on what I did wrong/wright.

/Stalker
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I like to remind people that it was your request for help that started this thread. It has mutated into something quite different and interesting but I dont think its really quite fair to you. I definitely thiink you should post your charts and comments and maybe we can focus on more of the beginner stuff along with the sct.
 
I'm finally making some progress on the fine sweeps. This is my current setup. The str/sq is the reverse of Maks but its basically the same thing. 2pair and spike shows up pretty nicely on buttontrader tick chart. Quotetracker has another neat feature which is the pressure bar you see on the ES price ladder. This is the ratio of bid vs. ask trades for the last 30 trades by volume which helps to confirm the bid ask size.

p.s. the screenshot was done premarket and my charts are set to day only so some of the numbers dont match.
 

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