I just realized, I got kind of hornschwaggled again. I asked about increasing volume on a pt3 being a strict rule. No reply.
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Spydertrader's Jack Hershey Futures Trading Journal
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Quote from bundlemaker:
I just realized, I got kind of hornschwaggled again. I asked about increasing volume on a pt3 being a strict rule. No reply.
There will always be increasing volume, in the dominant direction, as price moves away from a pt3. It may not be on the pt 3 bar, but it will appear.
Quote from bundlemaker:
Do you not see that I'm not purposely ignoring those items that you point out. They are no where in my consciousness at the point I need them to be. The way that people get around this dilemma is through demonstration, side by side experience, which is not an option here; so I can only do the best I can.
1. If you followed directions and truly cleared your mind, then good to hear. I am confident the log-ins belonged to your wife for research purposes as that is what you have stated.
2. You still appear stuck in a single solution mindset. You've been handed (gift-wrapped) a map with directions. The map says, you still don't have the fundamentals down cold, and that is where your focus needs to go. Unfortunately, this realization falls in direct conflict with what you have stated many times. The reality check is this, you do not need to see me or anybody else trade (even though you did see this thought process live in Tucson) to create a foundation of strong fundamentals.
3. I trust this answer wasn't esoteric for your needs.
- Spydertrader
Quote from Spydertrader:
1. You were also told about what to do during times of significantly low volume (DU, VDU), but you chose to ignore that advice. The point at which nkhoi outlined your 'contradiction' the volume levels are so low, even Mak explained why we avoid trading these levels, but you ignored that advice as well, and instead, chose to see a 'contradiction' on the chart.
2. You first circled Point Three occurs at what time of a carryover channel? I provided advice and instruction with respect to volume after 4:00 PM. You've ignored that as well and decided another contradiction exists.
3. With respect to 'formations' and volume, I also provided detailed instruction on what happens when price closes within the formation. You ignored that advice as well, and again, see only contradiction.
4. 11:25 to 11:30 shows increasing volume even with the intrabar gaussian shift which occurred at 11:25. Again, I have posted detailed advice on how one needs to view these intra-bar changes in sentiment, but you still see this as contradictions.
5. The green 'forest level' channel encompasses the entire day - which includes a Volume pace drop off into the lunch hour. Numerous posts from all sorts of individuals across every Futures discussion thread discuses the noon hour volume pace change, yet you see another 'contradiction.
6. Next time someone advises 'taking a break' you should do exactly that. Logging on to read ET while on sabbatical, doesn't exactly sound like 'taking a break and not thinking about this stuff.'
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1610357>
- Spydertrader
I wasnt' going to comment, line by line, but I'm kinda flabbergasted by the attitude here, so in my own defence here goes:
1) I was not trading. I was annotating pt3's. No where did anyone EVER say pt3's work different at low volume levels.
2) I'm fully aware of what you point out. I was just being complete and not skipping any point 3. I honestly thought a pt3 was a pt3, based on nothing being said to the contrary. NOt in Tucson, not in Jacks PDFs, not here.
3) There is a DIRECT CONTRADICTION (yes, these words) in what you told me on the phone and what you posted here. If you want me to be more specific, let me know. For now, just be aware that you did in fact give two very different (to me anyway) rules on the phone and in the thread.
4) I have repeatedly asked about expounding on this. Still no answer. I do not understand how to tell bar by bar, change versus continuation with various combinations of open and close being equal and various overlaps of this kind of bar with a consecutive bar. No where in any of the material are these VERY COMMON situations discussed.
5) Again, my intent was to understand pt3's and hadn't made this correlation. You've noticed how smart I seemed to be on another thread. Please don't take that to mean I actually am smart. I don't pretend to be. I learn by copying. It's aweful damn hard to copy what you can't see.
6) I already covered this in last post. I am hurt.
Quote from Spydertrader:
2. You still appear stuck in a single solution mindset. You've been handed (gift-wrapped) a map with directions. The map says, you still don't have the fundamentals down cold, and that is where your focus needs to go.
- Spydertrader
This is clear beyond belief. It actually kind of shakes me up a lot, because it seems like no amount of practice will clear this up. Making mistakes is one thing, just plane missing huge chunks of what I need to pay attention to (which is what I'm doing) is quite another.
There's a saying about practice making perfect. That is a VERY misleading statement. PERFECT practice makes PERFECT.
Quote from bundlemaker:
I just realized, I got kind of hornschwaggled again. I asked about increasing volume on a pt3 being a strict rule. No reply.
From Pr0crast a few hours ago...
Quote from Pr0crast:
Hi bundle,
I'll take a stab at it, though. From what I can see, there is 100% always every time increasing volume at a point 3, ....
Remember as Spyder has stated before, this method is not about being 100% right every time. Mistakes will be made and what is important is how fast you correct your mistakes.
If low volume point 3s cause trouble for you, why don't you leave them alone and only go with point 3's that have increasing volume.
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