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Nice trading today in difficult territory. Are you scaling out or am I misreading your chart?

My first entry today was 09:34 at 3508. As I trade using Spandex it was good for a few points. You've really given us something to ponder today. I think I should do away with the Spandex and get naked soon. Moving from observing to pressing buttons has shifted my perception to the worse...

I don't know if I'm one of the two but my answer is "no, there is no reason to exit other than because of fear or disbelief in the method". Edit: Thank you for the posts Db and for your replies KP. Made my day.

It's the bottom channel line. Edit:

I take it you either trade a retrace after a reversal (a.k.a. bounce) at the extreme or a retrace after a breakout of the extreme? Sorry K P to barge in on your thread.

:eek: :p :D

Thanks for sharing your journey.

In my own backtesting I've used the break of the bar that makes the crest/through. In the last post above (with the 2 charts) I used 1 point from the (in real time anticipated) crest as per Db's plan. I still have to learn to be that nimble myself. It makes for a much better entry, of course...

True. It's been a day now and another session has passed. Returning to this feels a bit like nailing jell-o to a tree but I did go back and ponder the chart a bit. Price is continuous so on a 30s we have this: I'd still exit but most likely on the steepened SL. This would have freed...

A suggestion: Please be a bit more specific. Name names. Now I am wondering if you are referring to me or someone else. I don't question the method. I question my understanding of the method. The only place where I know I can get help is here or in the chat and as I've chosen not to keep a...

Thanks, I will redo the entire chart with this in mind. I have some other stuff I need to take care of first but I will report back here, eventually.

Thanks. It's difficult to know when to "trade scared" and when to allow price to go against you for 5-6 points to stay in the trade. The basic SLA rules as described here - as I understand them anyway - require that you exit when the SL or DL is broken. In many cases that will let you exit...

Today I've tried to annotate a chart the "pure SLA" way (done after hours). I trade real time using some extra filters but I really want to know how it's done without filters, too. Hence this chart. Is this correct? Are the entries and exits correct? Any feedback is greatly appreciated.

No need to apologize. I am a bit cranky today and it was a good answer.

Sure, Fluke. I guess anyone seriously working with the "SLA" method verifies that within the first few days of interest. It's not what I have questioned here and your elaborate "answer" does not add anything I did not already know. Perhaps it was directed to someone else? My disconnect was...

I understand that as the best entries are those that signal after price reacts to a level depicted by AMT. That is how I have interpreted the pdf you posted and previous discussions on the subject, including those at TL. I can't speak for others but for me the confusion is I get the "basic...

Db, I am getting more and more confused. So that is all you are looking at. Ok. What do you do with it in the context of "SLA" (that you wouldn't have done if the lines weren't there)? I interpret your last few posts to point out that most (all?) of us "draw too many lines". If that is so...

When I started this journal I didn't really know where it would take me or if it would take me anywhere at all. Everyone (or so it seems) thinks a journal is a great tool that will help propel you towards that fleeting goal of consistently profitable trading. I don't know about that but if it...

It's actually not very difficult to test at all. There might be nuances you'll have to decide on and keep constant, that's all. Give it a go.

Somehow I need to make your plan my own. For me that means I have to back test to know it's valid and also to see how it's worked in the past, what retraces look like, what the context was and so on. It also means I have to forward test to see that I can actually spot these trades in real time...