Question for Grob/Hershey...
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Stalker - here's my 2c - and hopefully the rest of the guys will throw in some comments too.
- entry was reasonable
I think it was reasonable to anticpate continuation mode (trending) short when you made your entry... don't try to go back and pick some detail that showed you that you should have not made the trade. It won't help you.
- I see the volume burst short that made you enter at 11:10. Nothing wrong with that either.
- After your entry you had a bar of failing to BO short on the FBP (easily visible on the 2 minute chart)... then the market went long on a volume burst. Looks like you bailed on that burst.
So what you had was a "FP3" as icarus says... and you listened to the market and exited when it told you you were wrong.
IMO you did the right thing - you just didn't make any money
A couple of things to think about:
1) volume has a tendency to slowly decline into midday (the scallop)... and as volume declines it requires more and more skill to make a buck... when it gets too low it becomes a random walk.
This is a tendency -- it isn't a rule. You wanted to make money between 11:00 and 12:00... go back and look at that time frame on a lot of different charts.
2) Avoid distractions while you are monitoring. If the flow of your monitoring gets disrupted you really do miss out on some intangibles... particularly T&S and DOM patterns that can carry some info (you are a beginner so you should just be trying to absorb that info - not trade from it)
No trades for me today (in a dang patent meeting)
- entry was reasonable
I think it was reasonable to anticpate continuation mode (trending) short when you made your entry... don't try to go back and pick some detail that showed you that you should have not made the trade. It won't help you.
- I see the volume burst short that made you enter at 11:10. Nothing wrong with that either.
- After your entry you had a bar of failing to BO short on the FBP (easily visible on the 2 minute chart)... then the market went long on a volume burst. Looks like you bailed on that burst.
So what you had was a "FP3" as icarus says... and you listened to the market and exited when it told you you were wrong.
IMO you did the right thing - you just didn't make any money
A couple of things to think about:
1) volume has a tendency to slowly decline into midday (the scallop)... and as volume declines it requires more and more skill to make a buck... when it gets too low it becomes a random walk.
This is a tendency -- it isn't a rule. You wanted to make money between 11:00 and 12:00... go back and look at that time frame on a lot of different charts.
2) Avoid distractions while you are monitoring. If the flow of your monitoring gets disrupted you really do miss out on some intangibles... particularly T&S and DOM patterns that can carry some info (you are a beginner so you should just be trying to absorb that info - not trade from it)
No trades for me today (in a dang patent meeting)
I will post two sheets that will help you to stay with the prv stuff.
If anyone is a person who wants to get this prv down cold, you do have to do some drills to build your mind's capability to do it without a conscious effort.
The tapes, if gone over a few times, also do help to understand how a very conscious mind works. If I am only doing a couple of things at once it is even more evident. When I was doning paltalk,etc, I was also trying to accommodate getting people to "anticipate and to do a host of other things. This meant I was sort of busy with more than the market.
So the first sheet is a work sheet and the sceond sheet is a reference sheet. One is white the other blue, respectively, but you do not see that.
Now for the work sheet. Get three or four different colors of ball points.
start at Begin each five min bar and draw lines upward making a point at each measurement level. You can see the actual volume on the levels so no calculation is necessary at this point.
There are notes at the bottom denoting skill levels as well as market paces. There is a risk correlation there (unseen) as well.
If you are in a given portion of the day, then keep using the same color because you can see that the result will be the same. Like always make rockets red or such.
The upward lines will not go straight up but they will be tilted towards more activity (volatility) or less. You can use about six colors and that is why God came up with the rainbow as we all know.
So to build up your mind print 60 sheets and do them all using six colors that will denote the way days go by activity segments during the day. You will learn how to switch pens after a while.
Naturally, you also can classify the wiggles as things like BO's, FTT's , pennants, etc...
There is something about the mind that lets you open windows to the reality of the market. It imprints when you have an aid as a helper.
For me I can usual invent an aid quickly when I am mentoring in a given market.
The doodle sheet I did for Medicare D is one of those kinds of things. As a side note SAT is having its first three digit day with aps for medicare. Think in terms of ES points...lol. One ap is four points and over 100 aps is a nice days work. It was like sending out a recon patrol this am as the vehicles pealed off for four events. Getting poorer people served buy the US healthcare system is a good mission. Our target today is 95% Spanish and along the Gadsden purchase territory. It started way before 1620 and folks have such a nice cultural setting.
So do a few sheets a day and then compress your skills so you can use fewer sheets because you know what part of the sheet is still to be used. Note short term traverses across short trem channels especially.
Here is another sheet with six market paces shown. The columns tell you on a prv basis what market pace you are dealing with.
I also noted the isobars for various thousands of units. You can see that there is a divergence effect in that the lower right is concave upward and then you see going from the upper left towards the middle a concave downward function.
Obviously column width is a factor here but not the dominant one.
Having this reference sheet is handy. It is encoded 5.0.0.3. I feel lousy that I am running way behind schedule these days. We are concerned that I can't get stablized on the cardiac stuff. Apparently my heart is enjoying changing size on one side at fairly frequent intervals.
Anyway, as you do drills to get your mind set up with prv truths, you then get to corrolate with the market pace stuff.
by having the market pace in the picture, you get to have another level of depth of understanding regarding "what wasn't that" and what the dominant sequences are for a given market pace.
I hope nononsense prints his hershey paragraph once more surrounding this stuff. He may not see the connection, however.
After you have about 25 days of graphs on PRV this way, you will become used to how price follows volume (P,V relationship) on a much deeper level. At some point the relaxation thing will begin to set in. You can see by the easy words that it is evident that it is happening.
Riding the bike (sports memory) is showing up occasionally. It begins with glimpses at first. you mistakenly think you lost concentration when youreally didn't. You were just on "automatic" for a glimpse. Very comfortably glimpses stretch after a while.
What you will get to is the vision of the path of the market being blocked cell by cell and cell group by cell group.
As scientist discovered (by affirming a truth spoken of), the market does not jump around it migrates.
As you draw lines up the chart (I ask you to go up for a reason we will handle later), you will begin to see the path of the market being chided along. The market yields to mounting pressures to go to a more appropriate place.
The betting and guessing for you will definitely recede into netherland. What emerges is like going from black and white into see pictures of color and tone and vibrance. Comfort does not come in black and white (the notorious one pager mentality--it is a PROCESS instead) as some people get preachy about. Comfort comes from handling nuances and precision thinking. It is not a macro numbers game; it is the ability to handle NOW in its full moment.
play the song anticipation once in a while.....lol
I also noted the isobars for various thousands of units. You can see that there is a divergence effect in that the lower right is concave upward and then you see going from the upper left towards the middle a concave downward function.
Obviously column width is a factor here but not the dominant one.
Having this reference sheet is handy. It is encoded 5.0.0.3. I feel lousy that I am running way behind schedule these days. We are concerned that I can't get stablized on the cardiac stuff. Apparently my heart is enjoying changing size on one side at fairly frequent intervals.
Anyway, as you do drills to get your mind set up with prv truths, you then get to corrolate with the market pace stuff.
by having the market pace in the picture, you get to have another level of depth of understanding regarding "what wasn't that" and what the dominant sequences are for a given market pace.
I hope nononsense prints his hershey paragraph once more surrounding this stuff. He may not see the connection, however.
After you have about 25 days of graphs on PRV this way, you will become used to how price follows volume (P,V relationship) on a much deeper level. At some point the relaxation thing will begin to set in. You can see by the easy words that it is evident that it is happening.
Riding the bike (sports memory) is showing up occasionally. It begins with glimpses at first. you mistakenly think you lost concentration when youreally didn't. You were just on "automatic" for a glimpse. Very comfortably glimpses stretch after a while.
What you will get to is the vision of the path of the market being blocked cell by cell and cell group by cell group.
As scientist discovered (by affirming a truth spoken of), the market does not jump around it migrates.
As you draw lines up the chart (I ask you to go up for a reason we will handle later), you will begin to see the path of the market being chided along. The market yields to mounting pressures to go to a more appropriate place.
The betting and guessing for you will definitely recede into netherland. What emerges is like going from black and white into see pictures of color and tone and vibrance. Comfort does not come in black and white (the notorious one pager mentality--it is a PROCESS instead) as some people get preachy about. Comfort comes from handling nuances and precision thinking. It is not a macro numbers game; it is the ability to handle NOW in its full moment.
play the song anticipation once in a while.....lol
Quote from BA_Trader:
Stalker - here's my 2c - and hopefully the rest of the guys will throw in some comments too.
- entry was reasonable
I think it was reasonable to anticpate continuation mode (trending) short when you made your entry... don't try to go back and pick some detail that showed you that you should have not made the trade. It won't help you.
- I see the volume burst short that made you enter at 11:10. Nothing wrong with that either.
- After your entry you had a bar of failing to BO short on the FBP (easily visible on the 2 minute chart)... then the market went long on a volume burst. Looks like you bailed on that burst.
So what you had was a "FP3" as icarus says... and you listened to the market and exited when it told you you were wrong.
IMO you did the right thing - you just didn't make any money
A couple of things to think about:
1) volume has a tendency to slowly decline into midday (the scallop)... and as volume declines it requires more and more skill to make a buck... when it gets too low it becomes a random walk.
This is a tendency -- it isn't a rule. You wanted to make money between 11:00 and 12:00... go back and look at that time frame on a lot of different charts.
2) Avoid distractions while you are monitoring. If the flow of your monitoring gets disrupted you really do miss out on some intangibles... particularly T&S and DOM patterns that can carry some info (you are a beginner so you should just be trying to absorb that info - not trade from it)
No trades for me today (in a dang patent meeting)
This is a very very astute set of comments.
stalker print 50 or so of those drill sheets. You will see what the above comments mean fairly deeply in this manner.
This post is telling you about a particular time of the day. It mentions doing a check back on pass similar time periods.
Now, by doing the drills with the PRV and seeing what the market pace connotation means for that period, you get to be able to write posts like this one made,above to you.
This is way beyond BS'ing about whose right or wrong; it is about building the truths in your mental reperatiore (sp?).
Imagine what it would be like to be able to quantify and qualify this stuff in software; its easy, I know, if you can program. Very unfortunately programmers can't understand what all of this stuff means so they are screwed in getting it canned. The mind can get it canned however, because of the simplicity from a repetition point of view.
Your mind simply assimilates and, as you sleep, it gets permenantly organized from an efficicieny of the mind's operating point of view.
This is the iterative refinement going on so to speak.
Once stalker completes his edge foray, then he will be in second gear and accelerating. Getting the whle thing down (being comprehensive in viewing the market) turns out to be easier than continually extracting oneslef from edge type entries that turn out to go just about anywhere and way beyond the "edgers" comprehension.
Upcoming topics:
How does the mind get to the point of recognizing taking fragments out of many places (this is the norm for knowledge and processing stuff) and transferring them to "sports memory" a rather isolated singular location that does reps of only 4 or 5 sequences?
How can a person using minimalist's techniques(edge stuff) reorient to a wholistic view of making money?
How can a person gravitate to optimum numbers of trades per day to continually pull $ out of the market?
Thanks for the comments, very valuable.
The time of the day made me hesitate a bit, I knew there was a risk that it was not a retracement but more of a random drift. Well shit happens, I try again tomorrow...
I´m not really sure I understand the prv drills, but I´ll look into it...
/Stalker
The time of the day made me hesitate a bit, I knew there was a risk that it was not a retracement but more of a random drift. Well shit happens, I try again tomorrow...
I´m not really sure I understand the prv drills, but I´ll look into it...
/Stalker
I believe you are referring to your version of QCharts?
Here it is, paragraph three in the SCT Report. Quoted nine times on ET by nononsense.
Trades continue on the short term trading level by comparing the progress of the current bar with the prior bar as a trending reference bar. See IF 1, IF 2 Report. When IF 2 is invoked a reversal is made. It is possible that a subsequent wash and reversal may be required. When this comes up, the wash and reversal is done and the monitoring is done for the remainder of that bar on the 1 min chart using the IF 1, IF 2 strategy as applied to the 1min bars. This converts a 5min bar strategy to an intra-bar strategy. At the end of the remaining portion of the APA invoked on a 5min bar, the monitoring returns to the 5 min bar thus ending the intra-bar strategy. The fractal change is based upon statistics that predicate that any loop filibration on one fractal can be terminated on the next faster fractal using the same rules. This is an abstract statistical method based on Alexanderâs Method for least connecting systems for optimum system operation. A concurrent theorem on the migration of the market operating point and what the controlling facet is, is what establishes the market as a system of interrelated cells and how that connectedness may be optimized. One of the dimensions of the operating point matrix is the set of fractals.
I took three trades today - long at 10.20, short at 13.10 and 13.30. 2 point loss in total.
Both my entry and exit was really sloppy on the first one, but apart from that I can´t really see what I did wrong today. Maybe I shouldn´t have gone short before I saw a clear break-out of the range to the downside, I dont know?
Anyway, I took all my trades for the same reason - first a retrace, then volume picking up and ym and es taking off.
I think I will take a break tomorrow, my nerves needs a rest.
It irritates me that I feel that I did what I should do and still lost. Probably missed something. All comments welcome.
hope the rest of you made some money,
Stalker
Both my entry and exit was really sloppy on the first one, but apart from that I can´t really see what I did wrong today. Maybe I shouldn´t have gone short before I saw a clear break-out of the range to the downside, I dont know?
Anyway, I took all my trades for the same reason - first a retrace, then volume picking up and ym and es taking off.
I think I will take a break tomorrow, my nerves needs a rest.
It irritates me that I feel that I did what I should do and still lost. Probably missed something. All comments welcome.
hope the rest of you made some money,
Stalker
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