And here we are at 90. Either we return to the mean or we don't. Those who've read the content know what to do.
Ghost of If You Can Draw A Straight Line
- Thread starter dbphoenix
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And here we are at 90. Either we return to the mean or we don't. Those who've read the content know what to do.
While I encourage those who are interested in this to take it out for a road test, there does seem to be a tendency to come up with additional rules. Sometimes a lot of additional rules. But the more rules one has, the more likely he is to become immobilized.
The market will not wait for you in real time. There are no do-overs in real time. In real time, you have to know (1) exactly what you're looking for and (2) what exactly to do with it if and when you see it.
Since the primary objective of all this for struggling traders is to stop losing, I suggest that those who are playing with it learn and stick to the rules. Once one has stopped losing and has become less fearful, he can then begin to improvise a little, by degrees. In the meantime, I suggest working toward being disciplined about trading it as is. If it doesn't work, or if one doesn't like it, try something else. You'll know within a week or two whether or not this is for you.
The market will not wait for you in real time. There are no do-overs in real time. In real time, you have to know (1) exactly what you're looking for and (2) what exactly to do with it if and when you see it.
Since the primary objective of all this for struggling traders is to stop losing, I suggest that those who are playing with it learn and stick to the rules. Once one has stopped losing and has become less fearful, he can then begin to improvise a little, by degrees. In the meantime, I suggest working toward being disciplined about trading it as is. If it doesn't work, or if one doesn't like it, try something else. You'll know within a week or two whether or not this is for you.
why not ,lets take a closer look at msft then...
bigger pic
H1
here we have an SLA wise setup for a long , as we are at two extremes (supplylines
from the daily channel and a potential developing channel(light blue) , one
should be ready to get out quickly if the DL gets broken and be ready to take a short
for a reversal play, however if the long entry results in a breakout of the highs
(channel)we might move to the supplyline of the weekly channel...
there ya go
Given that this is the SLA bulletin board and given the recent renewed interest in the chat I want to inform all those interested in accessing the chat that all that you have to do is open a trading journal, and start posting what you think will happen during the trading session according to your context analysis (prep work) and what you analyze after the trading session ends (day review).
Some of you will be very lost about this, so I recommend you to review the guide to build a plan that Db posted in TL and participate in the new threads about observation and backtesting.
As soon as you start making progress (and someone objective will be the judge of that) you will receive an invitation to chat.
Perhaps Db, has something to add to my post.
Some of you will be very lost about this, so I recommend you to review the guide to build a plan that Db posted in TL and participate in the new threads about observation and backtesting.
As soon as you start making progress (and someone objective will be the judge of that) you will receive an invitation to chat.
Perhaps Db, has something to add to my post.
While I appreciate the endorsement of the Developing A Plan thread/pdf, I should point out that the SLA is only one possible alternative in Step Three: Developing A System. Though Developing A Plan has a bias toward trading price behavior, it is not limited to that. One can in fact develop a system based entirely on indicators. One may and probably will find that after going through all the other steps that the indicator approach just doesn't meet the trader's needs, but it's not up to me to decide for the trader that he shouldn't even try, like a parent deciding for the child that he should pass on that twelfth hot dog. The lesson the child will learn if he goes for it will make a far more long-lasting impression that the parent's "no".
Additionally, if one goes with the SLA, the backtesting is already done. All one has to do is follow the rules. Some have difficulty with that, and for a variety of reasons they find they have to start at the beginning and do it themselves. That's okay by me. But it isn't necessary. Same with observation. When one attempts to apply the rules, the observation is an unavoidable component since one can't apply the rules without paying close attention to what's going on. However, if one is clueless about price behavior, the observation phase certainly can't hurt, and it may speed facility in applying the rules when the trader gets to that point.
I point all this out because the trader who begins with Developing A Plan may wonder why he's going through all this when all he's interested in is the SLA. In that case, I suggest he start with the SLA/AMT pdf and leave the other for some other time, if and when he needs it.
It is impossible to know just how much trouble a trader is in. As always, he will be the best judge of what he needs to know and when he needs to know it. If it turns out that what he thought he needed to know is not what he needed to know at all, he will figure that out real quick. At that point he will more likely be amenable to the observation/backtesting/forwardtesting/simtrading/RTtrading sequence.
Those who have read the content understand that there was no long to 90 by this morning. Since trend channels are diagonal, the upper limit was at 85+/- by this morning. By 0925, price reached 90, broke the demand line at 0927, and the first retracement, which was also a double bottom, was formed at 0929. An entry stop placed above this bar would have been triggered at 90.
When a little girl asked Wil Wheaton how to deal with being called a "nerd" by her peers at school, his response was absolutely perfect.
"When a person makes fun of you, when a person is cruel to you, it has nothing to do with you," he said at the Denver Comic Con last June. "Itâs not about what you said. Itâs not about what you did. Itâs not about what you love. Itâs about them feeling bad about themselves."
--HuffPost
"When a person makes fun of you, when a person is cruel to you, it has nothing to do with you," he said at the Denver Comic Con last June. "Itâs not about what you said. Itâs not about what you did. Itâs not about what you love. Itâs about them feeling bad about themselves."
--HuffPost
Speaking of sugar.....
It looks like on the daily there has been a pullback to a support area, a break in the supply line and today starting a ret. Some will surely be trailing with a buy stop. FWIW.
It looks like on the daily there has been a pullback to a support area, a break in the supply line and today starting a ret. Some will surely be trailing with a buy stop. FWIW.
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