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Technical Strategy
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- Start date
.... i have gone back to the beginning of the journal....
..... and i have failed to find a step by step explanation of the construction of this kind of chart....
..... even Jack's explanations in the beginning.... the charts are always compressed and very hard to see....
.... and they always have too many marks on the same chart rather than a step by step marking process.....
.... for the benefit of traders new to this process of analysis....
..... would it be possible for you to post a series of charts for one day.....
..... with each progressive mark accompanied by the explanation for its existence.....
.... no offense.... but to anyone unfamiliar with this style of analysis....
.... these charts looks like rats nests....
....while this may seem like a lot of work....
.... it may benefit many people....
..... while posting a bunch of charts which all look the same to the uninitiated.... the benefit seems to be only for yourself....
..... thanks very much....
.....would very much like to understand every detail of your work on these charts.....
..... and i have failed to find a step by step explanation of the construction of this kind of chart....
..... even Jack's explanations in the beginning.... the charts are always compressed and very hard to see....
.... and they always have too many marks on the same chart rather than a step by step marking process.....
.... for the benefit of traders new to this process of analysis....
..... would it be possible for you to post a series of charts for one day.....
..... with each progressive mark accompanied by the explanation for its existence.....
.... no offense.... but to anyone unfamiliar with this style of analysis....
.... these charts looks like rats nests....
....while this may seem like a lot of work....
.... it may benefit many people....
..... while posting a bunch of charts which all look the same to the uninitiated.... the benefit seems to be only for yourself....
..... thanks very much....
.....would very much like to understand every detail of your work on these charts.....
Quote from Neoxx:
The Day
that is because you were looking at a wrong beginningQuote from elovemer:
.... i have gone back to the beginning of the journal....
.......would very much like to understand every detail of your work on these charts.....
start here, page 1
http://elitetrader.com/vb/showthread.php?s=&threadid=83604
Quote from elovemer:
....request still stands.....
.... thanks again....
......The Journey begins with the FTT (Failure To Traverse).
Thanks for the interest, Elovemover.
I agree that my charts may look like an indecipherable mess, and that, to the uninitiated, they may all look very similar.
Imagine learning a new language, with a completely different alphabet. Say Arabic. To begin with, your mind simply registers a collection of meaningless shapes. As you study, you soon learn to recognize and differentiate letters, then group them into words with distinct meanings, and finally assemble them into sentences.
If you think of this as a language that needs to be learnt from the ground up, things may seem clearer. While this isn't an overnight process, it needn't be difficult or complicated.
Now, I don't claim to have mastered the language and my charts are still far from being a definitive benchmark. What's more, I've recently adopted a slightly different way of looking at things, which will invariably lead to discrepancies in the short term.
If you compare my charts and those posted on the Iterative Refinement thread you will notice that while very similar, none are identical.
If you're interested in learning the method, I'd suggest first brushing up on the fundamentals, either following the link Nkhoi posted, or going back to the start of this thread, putting everyone but Jack on ignore and working through the first dozen or so pages, then perusing a series of charts (e.g. mine, Ehorn's and Romanus'), focusing mainly on the thick parallel lines on the price chart, and the thick gaussian lines on the volume pane.
It's useful to visualize the ebb and flow of sentiment as you do this.
As things start to click, you'll pay more attention to the thinner gaussians, and the price containers that construct the larger traverses.
I'm happy to answer questions, just bear in mind that I'm still learning, and there are posters on the Iterative Refinement thread with more experience and a deeper understanding of things.
Hope that helped.
Quote from elovemer:
..... i am just not impressed with a messy end-of-day chart unless i can see and understand the progression you went through to make that "messy" chart.....
I'm not trying to impress with my 'messy' charts. And while there are numerous educational posts by Jack, this is not an educational thread per se. For that, I refer you to Spyder's impeccable collection of journals spanning four years.
While the learning process shouldn't be difficult, it's not quick. It takes effort, dedication and the passage of time.
When the goal is to build the mind you can't skip any steps. There are no shortcuts. I continue to learn on a daily basis.
I reiterate my earlier advice. Learn the fundamentals, then regularly compare a series of charts to your own and learn to understand the basis behind every line.
Good luck.