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As I've said quite a number of times by now, the sort of support and resistance levels to which you refer are not a part of the SLA. The fact that they are "often used" is irrelevant to their alleged usefulness in that if they were as useful as they're supposed to be, those who use them would be...

Far easier and healthier to trade emotionlessly. Anyone who tries to make a career of this while in constant battle with his emotions is going to have an unnecessarily tough time of it, if he ever succeeds in making a career of it at all. Evaporate your emotions and it all becomes much easier.

I guess we'll just have to disagree on that.

Who said one size fits all? The SLA is an option for those who've been at this for years and still can't attain consistent profitability. As for RT PA reading skills, comparing one's skills with another's is only one consideration. Another is how long it took each trader to achieve competence.

Unfortunately, those who forego backtesting and forwardtesting in the belief that if they can just keep plugging away in simtrading long enough it will all just come together can spend years trying. A static chart is not at all "dead" to me because I can see how it was created. And forwardtests...

It would be a lot easier for you to make observations and share them if you were to read the material. You could start by characterizing your market: Appendix E.

The SLA is a plan. If one wants to come up with something of his own, he's free to do so. But he'll have to start all over again with the observation and backtesting phases, which is what I assume you're doing.

This was written by Steenbarger when he was more psychologist and less trading guru. I hope those who are maintaining journals will take it to heart. I hope those who are considering opening and maintaining journals will incorporate these elements from the beginning. When Trading Journals...

That should all be done in prep. By the time NY opens, I know at what point I want to see either a reversal or a breakout. I don't need anything else. If I had anything else, more than likely I'd hesitate, and then the trade would be gone. Unless one is coming up with his own plan and has yet...

I suppose they are. Stock traders are in the dark for 17.5hrs a day. Futures traders have light 24/5. That's why I switched to futures. And it's a hell of a lot less work.

Re-entering an ongoing trade opportunity is more trade management than overtrading, though if one has done no work on MAE, every tick against him rings a bell of doom. But there are also the trades that are initiated just because they seem like a good idea, or they're almost good enough, or one...

That depends on whether or not one wants to make the most of it. As Fluke says, location, location, location. Yes, one can trade with the SLA anytime, anywhere. But if he's going to make serious money with it, he'd best trade it at the locations suggested by AMT. There has been and is, for...

Patience (from Zen and the Art of Poker by Larry Phillips) RULE #1: Learn to use inaction as a weapon. RULE #2: Don't get irritated or angered by long session of folding. RULE #3: If you've been folding a lot, for a long time in the game, and you're starting to think that maybe it's time you...

Where we are. At what point can one say that the "overbought" ship has sailed?

She is essentially saying the same thing as Douglas regarding the environment of uncertainty and how we (our brains) deal with it, and this is essentially what the SLA attempts to address: revealing the demand/supply order out of what appears to be chaotic or random movement. If one can follow...

The mean is in place even in a trend. That's how trend channels form. If you haven't read the pdf, click here. It's a lot shorter than it looks because of all the charts.

Don't know what you mean by "divergent". The ES is mean-reverting and AMT is all about mean reversion, so the fact that price keeps reverting to the mean is more important than how far away from the mean each effort is. That you have what some people call a "foghorn" is irrelevant to the trading...

Yeah, that hundred-year-old stuff is the bunk.

We seem to be getting here a lot sooner than I thought. Of course, 1775 a week ago is around 1780 by now, but that's what happens with diagonal lines.

So here we are, just a few points above the downside goal and it's only 0800. Time to start looking for a possible reversal off the LL of the TC. If we plunge through instead, then of course the ret.