Getting Started!
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Trader Question
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Getting Started!
Thanks, I'm really looking forward to getting started. But be forewarned--I ask a lot of questions. It's not that I mean to be a pest; I just figure that, as long as I'm paying for it, I want to get the absolute most out of it and not leave anything important unclear. Please don't take offense...
Re: Getting Started!
The course is comprehensive and most questions are answered in the course itself. Generally speaking I answer all questions quickly unless they start to move into areas that are answered in the course and someone is just not paying attention. I doubt that you're in that category.
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Trader Question
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Re: Getting Started!
Ted, it's impressive how much better you understand on a second go-round.
From Lesson 1 confusion still on an important concept and a couple of incidental questions.
1. I’m confused about the definition of a PLdot Refresh. You state (screen 41 in Section 1.6) that a bar is said to “refresh†if it returns back into the area between the Live and static PLdots. In the video you identify those bars which you say have “refreshed,†and point to their closes as having retraced back somewhere within the area between the dots. But is it just the position of the close which determines whether or not the bar “refreshedâ€? Or could the bar, say after a Push down, have returned back to the PLdot, only then to close off the high, somewhere in the middle of the bar. The bar was pushed down and then returned to the dot (it was “refreshedâ€); but it closed below the area which defines a Refresh. Is this a Refresh or not? What exactly defines whether or not a “Return to the PLdot†has occurred? Is it only the close or any price movement within the formation of the bar that makes it back to the PLdot, or at least back to the area between the two dots? If the latter (and here’s the crux of my confusion), then it seems as though essentially any bar that touches the PLdot and whose close is off the high or low, could qualify as a PLdot Refresh. Who knows when or how price met the dot? Your warning about the difficultly of correctly reading the bar in a single timeframe (screen 44) is well taken, especially without knowing the open. I think I can ferret out each bar’s likely pattern of development if I spend a little time at it; but it’s certainly not intuitive (yet?). I assume it’ll get easier the more I see and study the patterns. It will certainly be more obvious (and, as you state, more obviously objective) when I watch the bars form in real-time.
From Lesson 1 confusion still on an important concept and a couple of incidental questions.
1. I’m confused about the definition of a PLdot Refresh. You state (screen 41 in Section 1.6) that a bar is said to “refresh†if it returns back into the area between the Live and static PLdots. In the video you identify those bars which you say have “refreshed,†and point to their closes as having retraced back somewhere within the area between the dots. But is it just the position of the close which determines whether or not the bar “refreshedâ€? Or could the bar, say after a Push down, have returned back to the PLdot, only then to close off the high, somewhere in the middle of the bar. The bar was pushed down and then returned to the dot (it was “refreshedâ€); but it closed below the area which defines a Refresh. Is this a Refresh or not? What exactly defines whether or not a “Return to the PLdot†has occurred? Is it only the close or any price movement within the formation of the bar that makes it back to the PLdot, or at least back to the area between the two dots? If the latter (and here’s the crux of my confusion), then it seems as though essentially any bar that touches the PLdot and whose close is off the high or low, could qualify as a PLdot Refresh. Who knows when or how price met the dot? Your warning about the difficultly of correctly reading the bar in a single timeframe (screen 44) is well taken, especially without knowing the open. I think I can ferret out each bar’s likely pattern of development if I spend a little time at it; but it’s certainly not intuitive (yet?). I assume it’ll get easier the more I see and study the patterns. It will certainly be more obvious (and, as you state, more obviously objective) when I watch the bars form in real-time.
Re: Getting Started!
===this will be true throughout the course.
=== think of push as movement away from the dot, refresh as movement towards it. In practice this is easy because you are watching live price and monitoring on the lower time period.
=== think of push as movement away from the dot, refresh as movement towards it. In practice this is easy because you are watching live price and monitoring on the lower time period.
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Trader Question
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Re: Getting Started!
2. You said (screen 47 in Section 1.7) that the PLdot is almost always exerting some pressure, either for a Push and/or a Refresh. It is rare to find the dot not exerting some pressure one way or the other (or both). Did you mean as a general statement, true in essentially all charts? Or did that comment apply only to the chart at hand on that screen?