SCTlearning from scratch

[river]

this is the open call.

Today (thursday, 15May14) the open will be long.

Specifically, we are beginning the third move of a long on bar 81 of yesterday. This is the end of the CW's "retrace" where the market goes into a move to the FTT of the long.

So the second trade after entry will be short where the market goes from dominant long to dominant short.

for those who have trouble with opens, wait until the new short trend appears and take it short and exit on the first move of the short trend.

yesterday there were 4 moves in the first 6 5-min bars.

Thanks for the series of posts today as the morning unfolded. I'm curious as to how you picked this morning, before the open, as the day to provide the charts and commentary. (I ask because it wasn't until bar 3 this morning, well after the open, that I anticipated a "trend day" may be developing.)

Above, a poster, who I believe is NOT a detractor, asked you to provide broker activity statements for these trades. We all know that is not going to happen but perhaps you would consider walking through the first several trades of the day, sharing the entry, reversal, or exit point and also describing your thought processes that lead to hitting "T" for each decision. As we all know, seeing chart icons at the extreme end of each bar in question may show the ideal trading location but things are not as clear as the bar unfolds. (If this request is beyond the scope of what you want to provide in your journal and you consider this post a distraction please don't hesitate to ask that it be removed.)

Here is my first trade of the day as an example of what I'm suggesting you consider. Before I do, I want to make it clear to anyone following along that the outcome of this particular trade is not representative of a typical trade of mine. In fact, it was the best trade, in terms of points captured, of the month thus far. I especially struggle on those days that have relatively low volume.

This morning: My carryover annotations noted a likely FTT on bar 73 yesterday, however, that bar also created a lateral lasting through bar 81. Inside the lateral, a "channel" could be created with the bottom of bar 80 forming the "point 3" and bar 81 showing increasing "black" volume. As the market opens, based on my carryover I don't have an opinion on which side will be the right side of the market but, given where are in the sequences of my carryover annotations, I anticipate that both the YM and the ES will quickly give me a clear signal. Within a minute of the open I see a red "OB" bar forming on both the YM and the ES, I short 80.25's, place a mental bookmark at the top of bar 1 on both charts, and let go of the mouse. Since my trade timing, in general, isn't great, I place more emphasis on being on the right side of the market than I do on scratching trades around my entry price. That is, in CW terms, I allow more room for a trade to develop, as long as I don't receive a clear signal for "change", than do many of those who posted trades over the years using a similar methodology. Twenty eight minutes after I entered, I exited at 74.00 when the ES showed an IBGS and the 2 minute YM (PRV) showed increasing black. I literally laughed out loud as I shook my head a few minutes later when it became apparent that I had covered at the high of the retrace. As I said, my timing leaves a lot of room for improvement....I've attached a chart snippet of the trade. You may notice bar 6 is black--I'm trading from my backup laptop this week and this version of my Ninja Trader colors bars a little different, in a few cases, than I'd like.

Anyway, thanks again for this morning's charts and I hope you consider my request.

I was very sorry to read that you are now on morphine. Again, best wishes for a complete recovery.

-river

 

[jack hershey]

The "butt" thread does not have discussion/explanation of "retro".
I have no specific question, just looking for why and how and more detailed info in general.

the rule in laterals is to hone in on the sub fractal during the non measurable (not statisitcally significant period) time of the market. The goal is to be able to know you know market sentiment on any observable level. Usually during such times, it is notible that the market is not making a significant offer. Thus, there is no significant money to be made.

As you see on my annotations, I do not try to eak out every nickel in trading.

If you rea the article recently mentioned, you see concerned guys getting together. they are not trying to participate in the BS of the financial industry. Instead, they just take what they see as opportunities to bak coin. they then dealt with their concerns such as illlness and the environment. The financial industry has no qualms about deferring payments for anything they can get away with. Peoople step in and use their potential (mental accumaen and all that stuff) to corret for this stupid default setting of the global system.

Collectively we are really messing up a lot of things these days. we can never say it is not going to get worse, it turns out.

If you are spending time in trading, why not just keep extracting a pleasant take and shovel the money arond to places where their are other bright people solving problems for our global culture.

Pete Petersen hired Dave walker (ex head of GAO) to run his billion dollar foundation. dave dropped out of Washington cause it was inappropriate to be spinning wheels there.

so we sit in a lat for 20 minutes and then we make sure we have the entiment well taken care of. sometimes there are tall bar one's on lats. this is not a problem, either. A mind can do a lot to take care of business.

I have to quit early today, since we are attending a 1 oclock lecture at one of our neat Tucson hospitals where people keep putting in the time to keep other people perking along.

Later I will come back and polish up my chart and og for the few bars I did not experience.

i am glad you are asking the Q's you do. In 55 years, it turns out the Q's follow a series. since that is happening for you, be prepared to go thru the review of the roll the 3 tick tolerance plays in intraday trading.

 

[jack hershey]

Thanks for the series of posts today as the morning unfolded. I'm curious as to how you picked this morning, before the open, as the day to provide the charts and commentary. (I ask because it wasn't until bar 3 this morning, well after the open, that I anticipated a "trend day" may be developing.)

Above, a poster, who I believe is NOT a detractor, asked you to provide broker activity statements for these trades. We all know that is not going to happen but perhaps you would consider walking through the first several trades of the day, sharing the entry, reversal, or exit point and also describing your thought processes that lead to hitting "T" for each decision. As we all know, seeing chart icons at the extreme end of each bar in question may show the ideal trading location but things are not as clear as the bar unfolds. (If this request is beyond the scope of what you want to provide in your journal and you consider this post a distraction please don't hesitate to ask that it be removed.)

Here is my first trade of the day as an example of what I'm suggesting you consider. Before I do, I want to make it clear to anyone following along that the outcome of this particular trade is not representative of a typical trade of mine. In fact, it was the best trade, in terms of points captured, of the month thus far. I especially struggle on those days that have relatively low volume.

This morning: My carryover annotations noted a likely FTT on bar 73 yesterday, however, that bar also created a lateral lasting through bar 81. Inside the lateral, a "channel" could be created with the bottom of bar 80 forming the "point 3" and bar 81 showing increasing "black" volume. As the market opens, based on my carryover I don't have an opinion on which side will be the right side of the market but, given where are in the sequences of my carryover annotations, I anticipate that both the YM and the ES will quickly give me a clear signal. Within a minute of the open I see a red "OB" bar forming on both the YM and the ES, I short 80.25's, place a mental bookmark at the top of bar 1 on both charts, and let go of the mouse. Since my trade timing, in general, isn't great, I place more emphasis on being on the right side of the market than I do on scratching trades around my entry price. That is, in CW terms, I allow more room for a trade to develop, as long as I don't receive a clear signal for "change", than do many of those who posted trades over the years using a similar methodology. Twenty eight minutes after I entered, I exited at 74.00 when the ES showed an IBGS and the 2 minute YM (PRV) showed increasing black. I literally laughed out loud as I shook my head a few minutes later when it became apparent that I had covered at the high of the retrace. As I said, my timing leaves a lot of room for improvement....I've attached a chart snippet of the trade. You may notice bar 6 is black--I'm trading from my backup laptop this week and this version of my Ninja Trader colors bars a little different, in a few cases, than I'd like.

Anyway, thanks again for this morning's charts and I hope you consider my request.

I was very sorry to read that you are now on morphine. Again, best wishes for a complete recovery.

-river

Thanks for the input to straighten me out.

I have tried to do the actual trades (prints) as an informative guesture.

I will make an effort to "shape up" mentally.

My personal view is that the "book" does represent what is being done in a precise and exact context of the contemporary information flow. In the past I posted these. I also made requests for a format that could be understood by others. No response so far.

I know personally that when I have observers and/or co traders working with me in the same space, they do comment on my "tells" in "anticipation" of trades.

I feel I can learn from the great input here to find out just how to help others.

as for today before open I got a little ahead of my usual routine. so I said to myself, why not type a little as free time is there during trading.

I gave it a try.

as most may know I use two computers and there are six others availalbe in the trading room. right now the Mexican grapes are coming in and the port is just a ways down the road. the trackers ship nationally so it is big for jobbers. I am trading with some jobbers now, so they actually are going to the post to trade grapes at this time. It means I have time on my hands since it is quiet around here.

I think I could hook into ET from multiple computers, if so, I can then shoot up some trading platform illustrations as time passes. usually I save the partial fill prints page after page at the end of days. I will adjust my routine.

I appologize for my response to the person you mentioned. Obviously I was reading between the lines from a more cynical point of view. I do not follow the person so I do not know about him. maybe his handle wasn't name or a kind of description I could fathom. My bad.

 

[jack hershey]

Thanks for the series of posts today as the morning unfolded. I'm curious as to how you picked this morning, before the open, as the day to provide the charts and commentary. (I ask because it wasn't until bar 3 this morning, well after the open, that I anticipated a "trend day" may be developing.)

Above, a poster, who I believe is NOT a detractor, asked you to provide broker activity statements for these trades. We all know that is not going to happen but perhaps you would consider walking through the first several trades of the day, sharing the entry, reversal, or exit point and also describing your thought processes that lead to hitting "T" for each decision. As we all know, seeing chart icons at the extreme end of each bar in question may show the ideal trading location but things are not as clear as the bar unfolds. (If this request is beyond the scope of what you want to provide in your journal and you consider this post a distraction please don't hesitate to ask that it be removed.)

I agree with the jist of this paragraph. All of the labelling and logging that I do is the framework of actually trading. to go from the CW emotions (anxiety, fear and anger) can only be out of the picture if your mind actually do know that you know. I keep a 1/2 page sheet size stapled set og 50 pages for my personal thoughts. I have been asked to post from this "journalling" over the years. I refrain from this posting for many reasons, most of which I have stated.

Trades (reversals) do not happen at the extremes of bars. So I have struggled with presenting the record of this concern. Mostly, I believe the best thing is the record generated each day as the trades occur. I often look at these in detail to see how much variance exisits in the timing of what I do and when it happens. As I glance at such records, I note how, personally I must "offset" my actions to do better in "carving".

In terms of illustrating my orientation to the market, I believe that the actions speak much louder than words.

My thoughts runs about four times the speed of speaking. So I use symbols on the 1/2 page journal to have an abridged version of my thoughts.

I have thought through the process of annual trading achievements. So over the years I have made a record of doing trading for express purposes. I will comply with your suggestions. What you are doing for all of us is getting down to where the rubber meets the road. By doing the MADA, a person performs and the results the system delivers is notable. The rubber meets the road then, and there is an automatic record made. I depend upon the record of the partial fills to tell me what is what.

Pragmatically, one's overall goals dictate how and when a person trades. Fortunately, I have had it made since day one of trading. So my goals have always not appeared as anything to struggle to meet. I spent my life doing what I wanted and invitation after invitation put me in the rarest of atmospheres and environments imaginable.

I do track others to try to understand what and why they struggle.

Simply adding more contracts or units) extinguishes any problem that could be encountered as long as reasoning is going on.

Here is my first trade of the day as an example of what I'm suggesting you consider. Before I do, I want to make it clear to anyone following along that the outcome of this particular trade is not representative of a typical trade of mine. In fact, it was the best trade, in terms of points captured, of the month thus far. I especially struggle on those days that have relatively low volume.

Yes anyone can glance at your work and see you are on the ball. It is true that points are on the table as the market makes the offer. reasoning comes from a foundation and proper building blocks placed upon the foundation.

This morning: My carryover annotations noted a likely FTT on bar 73 yesterday, however, that bar also created a lateral lasting through bar 81. Inside the lateral, a "channel" could be created with the bottom of bar 80 forming the "point 3" and bar 81 showing increasing "black" volume. As the market opens, based on my carryover I don't have an opinion on which side will be the right side of the market but, given where are in the sequences of my carryover annotations, I anticipate that both the YM and the ES will quickly give me a clear signal. Within a minute of the open I see a red "OB" bar forming on both the YM and the ES, I short 80.25's, place a mental bookmark at the top of bar 1 on both charts, and let go of the mouse. Since my trade timing, in general, isn't great, I place more emphasis on being on the right side of the market than I do on scratching trades around my entry price.

these words are terrific. You percieve boundaries set by points. the OB was there and the next arrow to be used was a red one. Bingo.

All you do now is "know you know to BOUND the ensuing move. you build a container and let the profit segment unfold within the boundary.


That is, in CW terms, I allow more room for a trade to develop, as long as I don't receive a clear signal for "change", than do many of those who posted trades over the years using a similar methodology. Twenty eight minutes after I entered, I exited at 74.00 when the ES showed an IBGS and the 2 minute YM (PRV) showed increasing black.

Great. You have a RED on and you look for "change". CHANGE is called BLACK. You see change and you sideline. the opening "range" is what you took. Every day has an opening range.

I literally laughed out loud as I shook my head a few minutes later when it became apparent that I had covered at the high of the retrace. As I said, my timing leaves a lot of room for improvement....I've attached a chart snippet of the trade. You may notice bar 6 is black--I'm trading from my backup laptop this week and this version of my Ninja Trader colors bars a little different, in a few cases, than I'd like.

You just journalled a task list for improving your performance. And you are telling us that you took some heat for some reasons. If I ever have a tinge of the CW emotions I know one thing: I do NOT know I know at that moment. CW traders are really swinging between two emotion sets. One when they are in and one they get to have when they quit being in. by knowing that you know (you use YM to lead ES for example) you guarantee comfort and support and confidence.

Anyway, thanks again for this morning's charts and I hope you consider my request.

I was very sorry to read that you are now on morphine. Again, best wishes for a complete recovery.

-river

just to lengthen this reply.

 

[llIHeroic]

Here is a look at building fractals manually in conjunction with using RDBMS to monitor sub-fractal tape gaussians. Trades are taken within three ticks of the BM. We will never lose more than one point. The first leg was easily a five point capture. There weren't even any wash trades required at today's open. You can pick which fractal to trade. Start at traverse level to build comfort and skill.

 

[llIHeroic]

Tried to get this up quick. First traverse of the day can now be built. Get ready to close short if there is ftt. We knew the open was short about 5 seconds in, easy hold for everybody at least to 76.

 

[llIHeroic]

The C/O Traverse had another VE. Coming off a Type B FBO at the open, this has a good chance of being a full-length trend. We are waiting for p2 to lock in and a short segment to start; perhaps we will only see a lateral. We will extend the Increasing Black Gaussian line towards P2 when we see it. Keep holding long.

 

[wilddog]

The C/O Traverse had another VE. Coming off a Type B FBO at the open, this has a good chance of being a full-length trend. We are waiting for p2 to lock in and a short segment to start; perhaps we will only see a lateral. We will extend the Increasing Black Gaussian line towards P2 when we see it. Keep holding long.

Thanks for that, please post regular updates. Not sure how much is going to happen until 2:00pm (FOMC)

 

[llIHeroic]

We have our lateral for the non-dominant leg that we discussed in progress. P2 has locked in as expected. Here are possibilities to anticipate:

1. Sub-Fractal FTT and dominance downward out of the lateral.
2. Failed Range Expansion and FTT of the Traverse.
3. Range Expansion into another VE.

 

[llIHeroic]

Okay, things are getting pretty dull. The lateral is on-going, and we've had two sub-fractal turns so far. They could effectively be our p3 and ftt, but with such low volume it's not very convincing.

Now is as good of a time to side-line as any unless you want to stay tuned into the lateral; we will likely see at least an attempt at the upper boundary since the BM REV down failed to BO which might be good for another point or two. If you want to finish the traverse, use the last sub-fractal long turn within the lateral before it's over as p3 and go from there.