Son of If You Can Draw a Straight Line . . .

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Quote from niko:

Ok, I will go by the steps as I understand them.

The first step is to determine the current trend of the market (Wyckoff):

By yesterday´s close we were still in an uptrend, at the bottom of the trend channel.

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Incidentally, I neglected to mention that although price hitting the bottom of the daily trend channel may suggest, according to AMT, that the line of least resistance is up, that doesn't mean that the line of least resistance is up NOW. There was no particular reason why price couldn't make one more trip to the bottom of that channel. Which is why you have to be prepared for anything. This is part of what backing and filling is all about and shouldn't rattle you. Backing and filling helps build up strength for a sustained move. Those who don't know what's going on would see price hitting the bottom of the channel and think OMG OMG OMG whereas everybody else would be buying because price was hitting the bottom of the channel.

Mean reversion, kids, mean reversion.
 
Quote from dbphoenix:

First, it's not a midpoint. A midpoint is the middle of a range and is the level at which the greatest amount of volume occurs (you really need to start reading my posts: grr).
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I read them, sorry, it was my bad. Old habit to call everything in the middle a midpoint.
 
Quote from niko:

I read them, sorry, it was my bad. Old habit to call everything in the middle a midpoint.
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I make what some might call a big deal out of it because our perceptions are influenced and even determined by the language we use to describe them, and over the past few weeks it has become clear that the casual interchanging of these terms has at least contributed to some damaging misperceptions. Therefore I'm going to be more rigorous -- a pain in the ass -- in future about how they are used.
 
Quote from dbphoenix:

In any case, my first trade was at 0556. Yes, 0556. Don't ask. My last was at 1135. That was an unusually long day, but it was so interesting I was able to stay with it. I appear not to have given the ticks, either. Ticks gained was 167 and ticks lost was 19. Wins 5 and losses 4.
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Here are my attempts. Long day so 2 files to cover it. I didn't count ticks, and it's unlikely that this matches your exact day, however, this was a great exercise. By reconstructing a scenario, it conducts the transfer of ideas in an effective way for me.

There are 9 trades within the time window. It was challenging work and it became a process of thinking about and remembering the things you've taught.

I'm not sure how to post multiple chart links. Here's the first chart showing two trades from the very early morning.
 

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Hello everybody,
I want to thanks everyone for this threat especially dpphoenix for his time and energy that he puts in this..hat off!
As you can see this is my first post.This doesn't mean that I am new in trading e-mini.I started with stocks switched to emini because of the daytradig rules, I didn't have 25000 dollar to trade...after all I'm happy with it.To make a long story short,in my learning process i took some time off but i can say tha i have about 6 years fulltime observation.I have a fulltime job. I live in europe so i just mis the open but from 10:30 until the close i can follow the market.If i do the math i have about 12000 study hours..and still losing.. i know i know shame on me!I want this so bad.I'm not afraid to hard work, everyday print out charts put comments of what i did printscreen ..i have a memory stick full met printscreen since 2001 almost of every day!Sometime i do simulation for a couple weeks and sometime i do with real money....but i'm still losing money.I don't have much money to put into the account and i know, this is a problem.I trade with amp which requires 500$ to trade so, i think,this is the 4th or 5th time that i send 200$ to be able to trade.But i know somebody say " scared money don't make no money". I'm too afraid of losing that actually i lose!the Because i know, if i do i won't be able to trade and i will get that pop window which it say "not enough funds in your account" hate that it so frustrating!!A punch in the face.I don't let the profit run when i'm right because i get too nervous. Ok, now that i expose myself to everyone i will like to partecipate to this thread with the hope that i can bring something here..maybe to show how not to do it and learn something from you. I trade according the principles of this thread, off S/R, so i will post my chart with some comments...

thank you all!
 
Quote from riaamaan:

Here are my attempts. Long day so 2 files to cover it. I didn't count ticks, and it's unlikely that this matches your exact day, however, this was a great exercise. By reconstructing a scenario, it conducts the transfer of ideas in an effective way for me.

There are 9 trades within the time window. It was challenging work and it became a process of thinking about and remembering the things you've taught.

I'm not sure how to post multiple chart links. Here's the first chart showing two trades from the very early morning.
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I imagine that somebody has figured out that the point of all this is not to duplicate my results but to try to apply the principles of this approach in a more practical way; reading an explanation (oh, yeah, nice) is not nearly as effective as sitting down with a chart and trying to puzzle it out, much like following a map as opposed to drawing one.

Therefore, whether you are able to Find The Trade is not as important as your having a rationale for choosing the trades you do.

Having said that, your charts are defeating you. Even though they are a little long, the aspect ratio is okay. The problem is that having the second half with its cascade compresses the first half to the point where the undulations are barely visible. There is, for example, a double top at around 0620EST that is -- or was to me -- a clear signal to vacate the premises. This enabled a much earlier short. I suggest you replot your charts in shorter segments so that you have a better idea of what you'd've seen in real time. This, incidentally, is one chief advantage in using replay rather than covering a static chart with a sheet of paper and sliding it to the right: with replay, the first action will fill the page; with a static chart that encompasses the entire day or a large portion of it, it may be little more than a worm creeping along a narrow section, particularly if the day has been eventful.
 
Quote from dbphoenix:

Incidentally, I neglected to mention that although price hitting the bottom of the daily trend channel may suggest, according to AMT, that the line of least resistance is up, that doesn't mean that the line of least resistance is up NOW. There was no particular reason why price couldn't make one more trip to the bottom of that channel. Which is why you have to be prepared for anything. This is part of what backing and filling is all about and shouldn't rattle you. Backing and filling helps build up strength for a sustained move. Those who don't know what's going on would see price hitting the bottom of the channel and think OMG OMG OMG whereas everybody else would be buying because price was hitting the bottom of the channel.

Mean reversion, kids, mean reversion.
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I also neglected to mention the time of year, which has a great deal to do with our ability to lift off. Therefore, the time we're spending at this level takes on a more ominous quality. And while all these "hinges" at this level may not be pretty and arguably do not even qualify as hinges, it is clear that price is looking for some sort of equilibrium, which is what the hinge is all about. Therefore the focus should be on this effort, not on the details of what it looks like.
 
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