Republished by request.
At university, many, many moons ago, a well known philosophy professor offered an interesting class entitled “Symbol Logic”. The entire course was the translation of a “book” containing no letters, no numbers or punctuation. There were 137 pages of nothing more than different sized geometric shapes and symbols similar to those found in engineering and calculus texts, and shaped symbols like triangles, circles, squares and more. The objective was to translate into English the 137 pages. I started at the end of the 137th page and finished a couple days later.
This course taught me that everything is essentially a symbol. We happen to know what symbols like letters and numbers represent thus those symbols have meaning to us. Now let’s jump to the task at hand; turning other symbols and patterns into logically predictive results.
Regardless of the AMS DeltaPrint tool you are working with what you are interpreting are symbols, patterns and their interrelationships. These are provided on each “chart” assembled just waiting for you to apply your own “logic” to what they mean together and how you can recognize what you observe in the future.
After identification the next step is simple; remember what you observed and its result. I like to say at this point “rinse and repeat” as one, two or even five results are an insignificant number of observations to rely upon. Once you have interpreted the symbols, patterns, applied your logic and documented the results of your observation you are more than 75% on your way to not just understanding but utilizing orderflow, bookflow, footprints and delta in your daily routine.
In a prior post I talked about our “One Thing” which is the observation we identified that results in positive trades more than 85% of the time. In our upcoming tutorial series and future blogs we will post “charts” that show how what we observed works.
Often traders seek to analyze information in their possession to create several patterns. While happy to assist you, as we continually look to improve upon our results, we must admit that we are happy with the performance of the “one thing” we have identified. If we find a better one we’ll let you know.
If you are interested in taking advantage of fifty years of experience from The Wizard then email me at thewizard@amstradinggroup.com. I hope you do as I learn just as much from you.
