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The fact that you weren't trying to pick bottoms in itself is something commendable. Gringo

Yes, the drills's the same.

I did take advantage of a the XLE alert. Whether it works out or not is not in my hands. Thanks Db for the heads up. Gringo

The future is turning out to be quite interesting. The only exception I have is the statement that renting is expensive because of the human driver involved. I'd add that renting is expensive because cities create cartels where only those with permits are allowed to drive a cab, in effect...

Let summer come and it usually slows down. These trending to non trending cycles are to trading what water is to fish. Every pause is a preparation, and every preparation an opportunity.

RULE #1: Learn to use inaction as a weapon. Most of the time, the market is indeed random. One can only win consistently by avoiding activity most of the time and trading only the few times during the day when a high probability trade occurs. It is our job as traders to wait more than we...

So what do you do at R or S in either case? What else do you want? Intra-day trader isn't worried much about Weekly/Daily trends. They just have an eye on them in case price approaches those areas. Again if you are intra-day trader then stop paying attention to larger bar interval trends and...

Support isn't support until proven by the price that it is. Think of support as being like water in its three basic states: When frozen the ball bounces. When liquid the ball bobs up and down. When gaseous the ball falls through. This in my opinion is the essence of support. Gringo

SLA has been working like a charm here. Some times I am tempted to bite, but then again my time shall come.

The Nasty Median is living up to its reputation. For those not into the intra-day Wild West, not participating has been less dramatic, even mundane. Staying close to the edge of the extreme is where life is safest as we are the first to know when the footing is lost. Price is again in the...

Ability to read price is independent of bar intervals. If we remove any indications of what bar interval it is, is a person able to tell whether it was 5, 10, 15, 25, 30, hourly, daily, weekly? When the time to decide an entry or exit comes then of course one will need to focus on important...

You don't need forward testing to figure the nature of the market out. You can do back testing to see how the market behaved.

The reason I'm trading part-time is that I don't want to be involved too much. Trading is a individual endeavor and one has to go through the process to get it. So keep in mind that in all likelihood my input is going to be sparing. I have recently begun to found my own footing and don't know...

Trading CL is a bit tougher in my opinion. NQ and stocks are better. CL gives a lot of zig zaggy motion which makes it difficult to maintain stops due to spikes. I would suggest at least for the learning phase to work on NQ. I had tried this on FX and it was the same issue as the sudden and...

I am not used to so much praise. There's always this feeling of the rug being pulled from under my feet. To be fair I am only a part-time trader and my grasp of exotic theory has been getting weaker since the advent of SLA-AMT. For me the truth is in simplicity, and in simplicity our salvation...

Revenue - Expense If revenue is limited then of course expense needs to be curtailed. Living beyond means is a recipe for disaster. Gringo

Depends on one's choice. Intra-day traders will continue trading. Those who wait for larger moves on daily or weekly will have to wait until a better opportunity arrives.

All this price action is happening around the median. For easier trading just wait for the trend lines to be approached and follow the plan. Those who are shorter term and faster can attempt things here but the tumultuous behavior is more likely around the Nasty Median. Gringo

Q's are at bottom on TR on daily and still at the median in the weekly TC. Price has been dropping for five days in a row. Sooner or later the bounce will come but over the weakness is evident. Markets are showing more and more weakness. For those with longer term stocks at least do an...

This is essentially what we do when price reaches the top or bottom of TC or TR. When price reaches the top we look to sell on weakness and when it reaches the bottom we look to go buy on strength. SLA-AMT has encompassed all that theory into just one line: Wait for TC or TR top to short and TC...