Good morning. Weeding break.
I reviewed the past pages 29 through 32 where I have 5 posts per page allotted. Because of my ignores I only saw 4,2,1 and 0 posts per page, respectively. My thanks to those who refrained from replying to these ignored detractors.
Lets start with some Q's that have been coming my way.
The M and W stand for the order of channel legs on typical days. A leg is another name for a channel and a channel is represented by a short straight line sloped long or short.
M is / \ / \ which is four legs that are, respectively a long channel; a short channel; a long channel and lastly, a short channel.
the W is \ / \ / which is four legs that are, respectively a short channel; a long channel; a short channel and, lastly, a long channel.
A beginner trades from FTT to FTT of each channel. So a typical day is enter with the trend of the first leg (channel) do three reversals and exit at the end of the day.
If each channel goes the range of the day, a person profits a multiple of the daily range. Given the fact that this ideal is not played out so simply day after day, skilled traders make a lot more than beginners. That is why a month long boot camp is required. We use toylstoi toilet paper and Stolie clear liquids so relaxing in the evening is transparent.
Friday's Congressional happenings baited a difficult trap that has deep consequences. Obviously turning quant built toxic paper into liquid assets through a simple federal guarantee as all federal paper is now guaranteed was not anything that could be visualized (See O'Neil's (ex Teasurer under Bush) interview in BusinessWeek). It will bee fun to warch the lardest realestate portfolio ever created managed.
So we all get a spectacular present handed to us. February will be fun for sure.
As we started the pm with its break out charts. A breakout chart is a chart that shows just a piece of the pm so a look see can be had. Price is not "breaking out" on each chart.
The most noticable thing as this begins is the way the market is so activated The attached chart follows the midday medium PACE as shwon on the volume only am chart.
The price bars are shown on 5 point scaled ES chart. Anyone and especially beginners in a boot camp looking at several 5 minute bars in excess of 15 points each, must have a combination of sensory and inference to get perception that is at one end of the Richter scale.
Drill seargents at boot camp are beginning to see, on a 2 point scale that a scaling adjustment is going to have to be made.
There is kind of an elation and a OMG combo in having to adjust the display as you trader builds more profits as price drops down off the screen.
As I mentioned more generally before those watching the leading indicators of price who have differentiated minds for that viewing are in a heavenly place. They are watching the blow out phenomena which occurs with OODA oriented CW routines.
Here D means formulate a hypothesis and follow it with a test for A. Does anyone want to test a 15 point 5 minute bar? Yes OODA people do. They inductively bet with D and ENTER with real money as a TEST of the market.
MADA does not work inductively and it only works in a binary way in the Present. WE monitor to get a data set. The data set is analyzed and logged as MODE and remarks. Our D, for Decision corresponds, finite set to finite set, to the Analysis result. C in the MODE means to HOLD as decision because our built minds, differentiated in terms of finite sets and MADA and the three principles that gave rolodex hope, have the inference available at all times that merges with what we sense to give us perception.
we are riding 15 point bars and hiking in the volume mountains with 0 --2 masks on by breathing through our noses and being grateful and appreciative of completed rows after row in our logs as we get closure each and every MADA lap.
Even Jiminy Cricket has his old fashioned neck tie off or loose. this is a real treat for the mind. It is not the netting of 5 to 8 points per bar in the dominant direction; what it is is following a routine that works.
If 20 to 30 minutes of a dominant thrust gives us a great Continue and a very worthwhile hold, what does a non dominant traverse in our channel have to offer the learning beginner?
The mix of money and mind in boot camp gets a work out in such a very high PACED market. We now know what PACE is saying as a volume indicator.
Is VE possible under such high paced conditions? Logs tell us under debriefing.