The 3-2-1 Approach: A Simplified Method for Trading Any Market

Quote from ZAL:

The free Tuesday webinars, 4 hour paid Friday webinars and the ongoing admittance to the daily education room are all a necessity. A student could not learn the functionality of the software, understand the complexities of an auction market and execute (manage) trade location without the guidance of our moderator Charlie Cochran and the veteran students.

You're free to come into the room and ask the students how they feel about the necessity of daily education/guidance.

Just turning on the software, and as the Brits say, "off you go" would be a disservice to the student and to us.
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ZAL,

Hey man I know what you're saying.

What I am saying is that I (and others like me versed in AMT) already understand what the data is telling me so I could take it at face value. I think it's a good, all-in-one way of viewing market activity. I have been using AMT for a couple years, so I can definitely appreciate what the software can do.

No doubt that many couldn't use the software from the get-go without education....but I am referring to those of us who already utilize AMT analysis and would understand what the tools are telling.

Seriously, I am not ripping on you. I see the point you are making, it just doesn't apply to everyone. As I said earlier, kudos to whoever set this thing up, I wish other companies would do the same as a package without charging for unneeded education. Even though it is cheaper to go elsewhere for data, having multiple subscriptions can be annoying. Not to mention MarketDelta, although cool, has some of the most idiosyncratic and annoying charts I have ever encountered. Having an all-in-one package for a veteran AMT trader would be a good idea for any company out there listening.
 
We're all pleased to see Reaver is taking a positive step to reform his vendor bashing ways. Hopefully, this will continue in the best interest of the trading community.

You've earned a star! Keep up the good work.
 
Quote from allenhobbs:

We're all pleased to see Reaver is taking a positive step to reform his vendor bashing ways. Hopefully, this will continue in the best interest of the trading community.

You've earned a star! Keep up the good work.
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Hobbs, I'll bash a piece of shit like you, Trading Zoo, or Puretick in a heartbeat. Believe me, no qualms in the least on that note. And I don't give a good goddamn about the "trading community". I am trading for ME. I treat those who deserve it with honor and respect. If you don't deserve it...well, then you don't get it, to say the least.

I have plenty of things I disagree with ZAL and bthomas on, but unlike you- I am fair and honest about what I say. I still think they are pretty much in it for every possible nickel and dime. While I don't respect that stance, I still think their software has high potential in the right hands.

Therefore I make the point of giving credit where it's due as well as criticism. Simple equation. I don't bash and troll like you just out of some vendetta because someone ignored your PM for help a while back. Get over it. Sorry you keep blowing up and starting new journals. No free lunches in trading. Put in your time just like everyone else. Conquer your myriad mental weaknesses or you have absolutely no chance in this game Allen.


And Hobbs, please stop with your homoerotic PMs.
 
Quote from Reaver:

Seriously, I am not ripping on you. I see the point you are making, it just doesn't apply to everyone. As I said earlier, kudos to whoever set this thing up, I wish other companies would do the same as a package without charging for unneeded education. Even though it is cheaper to go elsewhere for data, having multiple subscriptions can be annoying. Not to mention MarketDelta, although cool, has some of the most idiosyncratic and annoying charts I have ever encountered. Having an all-in-one package for a veteran AMT trader would be a good idea for any company out there listening.
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That's the closest I've ever seen to a 4 STAR review for a vendor around these parts.

And while you or I might not need the education Reaver, the remaining 90% probably would appreciate it.

Here's a PDF of an article published by ZAL on the 25 Key Points of Trading Discipline for SFO magazine ... sounds good to me.
 

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Quote from MandelbrotSet:

That's the closest I've ever seen to a 4 STAR review for a vendor around these parts.

And while you or I might not need the education Reaver, the remaining 90% probably would appreciate it.

Here's a PDF of an article published by ZAL on the 25 Key Points of Trading Discipline for SFO magazine ... sounds good to me.
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Ha ha, and you know if I say something good about a vendor I damn well mean it!

Thanks for the PDF, JJ. I had read that previously and thought it was a great read. Outstanding article, ZAL.
 
From what I have read so far this vendor seems to be much more honest and actually has a system that is based on logic, unlike the scammers at puretick....
 
I spent 2 months in TIE and learned more about MP and volume based trading than in 2 years of IOAMT and trying to make a system out of Dalton. 3-2-1 is the simplest way I've heard of teaching one how to use the MP or volume profile.

ZAL and Charles came across as straight shooters who trade their own advice that they recommend. One looks for 4 tick trades in the bonds and the other tries for fewer trades with larger moves in the bods and ES.

The charts give the best info I've found with 2 years of tick data in a volume histogram. But therein was the rub for me. My computer wouldn't even download their F1 & F2 charts in eminis. I started to build a new computer but I found volume histogram at ensign that worked with my broker's data, so I cut TM and Esignal. I had another charting program that's none too efficient running and they clashed a bit. TM still clashes with Transact ddls and that was a problem for me that might not affect others.

I haven't quit using what I learned though.

For anyone interested in a room teaching a system that works and that you can learn in a relatively short period of time, I'd recommend them.

You'll need a dual core processor, XP and 2 gigs of ram. I'd suggest 3-4 gigs if you've already upgraded your OS.
 
Pre-Market Preparation for 5/27/08

Charles Cochran made this post on Friday 5/23 after the market closed. At this moment (6:41am central time), the ES has sold down overnight and the bond has hit 116.04, the more conservative buy zone. This is the kind of analysis needed to go into a day with an idea for your 1st and/or 2nd trade.

Posted by: ccochran 5/23/2008 4:38 PM
Friday’s market did rally as the ES sold. The 1000 news was very close to expectations and not a factor. Options expiration favored a close between 116-00 and 117-00. Got that close at 116-19. Holiday weekend killed the volume after 1300 as players bailed for the long weekend. By the close the market yielded a P pattern w/volume high in the distribution. This favors a retest of 116-28/117-00 and or higher prices on Tuesday. If the ES continues to sell, this should happen.


F2 Comments: Market traded higher off of options expiry and weakness in the ES. The ES couldn’t hold 1380 and the Bond eventually hit 116-285. That proved to be the high of the session. The close at 116-19 was positive. The market’s structure favors higher prices w/out news or a strong rally in the ES. Tuesday’s news: Consumer Confidence is expected at 61.0 and New Home Sales at 520K. If the ES is sideways to lower, I want to be long. First buy zone is 116-09/13. 2nd is at 116-01/05. If 116-28/117-00 holds, OK to get short. Cover, if 11608/12 then holds.
 
Quote from luke24.5:

I spent 2 months in TIE and learned more about MP and volume based trading than in 2 years of IOAMT and trying to make a system out of Dalton.
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I would have to agree with this point - MP/AMT/CD does not have to be drawn out into a many month long task.
 
Changing Your Idea

As noted two posts previous, the idea going into Tuesday the 27th was to be a buyer. There were two winning trades at the noted levels, but then something changed - a Move Out of the Middle (MOM) occurred. If you've read the previous posts in this thread, you know that Rule 3 is don't fade moves out of the middle.

The call in the room changed to be a seller. New information, available to anyone watching their charts, changed the idea. Following was Charlie's post after the close and the F4 chart for the day.

F4 Comments: Started the weekend leaning long. Friday’s buy recommendation did produce two winning trades before we switched to the short side for the day session opening. The OVN session showed a new move lower that started out of a HV area at 116-20. MoM's signal new moves and the day session wasn't able to take out near resistance at 116-14/16. The call switched to a sale at 116-11/15. And the day session high was 116-14. The rest of the session remained a sale, w/sellers above 115-30. Multiple sell opportunities throughout the session.

F4PM5-27.JPG
 
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