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I can't really prepare for a range, hinge or chop zone in prep. If one shows up in real time, it will influence how I'd manage a trade I was in or if I should enter a new trade or not. That is what I mean by having problems with "reading" context in real time. I can anticipate chop at the mean...

That doesn't rhyme well with a tested trading plan does it? I've spent much time on when not to trade, probably more than on when to trade. It's more difficult because the "not" is mostly context and as such one needs to have more than one chart up while back testing (at least I do) and be very...

I've noticed that the basic SLA rules gives you the opportunity to re-enter in a strong trend. If one adjusts the lines to "hug price like Spandex", a mere pause or breather with some sideways action will stop you out. After fanning there's often a new retrace to enter on. In backtesting I find...

Thanks K P, that's a good point. I would probably have been stopped out. It's just that I don't have "exit at level where price hesitates" in my plan (yet). True, I'll focus on that instead :) .

Friday recap. I did a mistake exiting the second trade at the mean of the overnight range. It was out of plan. :p

Friday prep. No question on where the line of least resistance is. The prel. consumer sentiment survey is released at 09:55 and I wouldn't be surprised if market was somewhat calm until then. But of course one never knows. Game plan as always: stay out of ranges, enter on retraces.

I agree with some of the observations you made in your journal today. But - thinking about scratching quickly becomes somewhat abstract and a fairly theoretical exercise (as in useless), at least it does for me, right now. What I really want to do is exit as soon as I know I'm wrong...

Thursday recap. Not a good session for me as I found it difficult to concentrate. I've started to test some scratching strategies (removed from the chart above as it only adds clutter). I don't write much hindsight analysis to the charts I post as I think they are self explanatory...

Prep for Thursday. Airspace below so let's see what happens.

Thanks Niko. I'm going to do the scratching thing soon, I'll get back to you on that :) .

Wednesday recap. There's only one word needed to describe the session for today: range. Another good day to practice patience.

Prep for Wednesday. FOMC minutes at 2:00pm today. I hope that doesn't put a blanket on the market.

:) Thanks.

Well, in the open position the 1 point loss is unrealized. If the reason for entry is still valid price going against you need not be a reason to exit - unless of course one has a scratching strategy that says that over the long run, scratching makes you more money than taking a full stop. I...

I am not sure why you've posted the "SLA" rules here. I was looking for the (now imaginary) 5 rules for scratching because for some reason I was (wrongly) under the impression that the scratching exercise you did was based on them. I must have misunderstood some posts in your journal and in...

No wonder I did not find them. Wrong context. :p

Thanks. I did look at them before but I will give it another try now that I am actually looking for something. DbPhoenix mentioned something about "rules" somewhere but I have been unable to locate them (5 of them); you specifically have rules too I guess.

Tuesday prep and recap. I wasn't able to post this before as ET was unavailable. Prep. Recap. 'T was a difficult day. In hindsight it looks fairly straight forward. First trade was a mistake (I don't do ranges) but I had gotten thrown off a bit earlier from another mistake so when I saw...

Alert installed :D . Thanks. Sometimes it seems I miss the obvious.

Thank you. I can see where the dynamics changed but I did not spot that hinge in real time. Actually I had a bit of a problem locating it in hindsight as well. Hinges are currently above my paygrade :p . As I see it now, entering at 10 (where I stated I would have if I could) would be more...