House of If You Can Draw A Straight Line

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timokrates said:
Thanks DB for your constant work and sharing.

I'm a long term lurker and on and off trader.

Having a bit off time in between the years I try to reach another level in the game guided by SLA-AMT. This can only happen trough backtesting I believe, which is my topic at the moment.

But to start, I would like to post a pic of how one can get lost in context...

At the end I believe that the channels are valid, aren't they?

At the end we are below the midline of all that colorful channels on the 60M :)
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None of these charts mean anything to me other than the weekly, so I can't help you with interpretation.

As illustrated throughout, I start with the weekly in order to find the trend, the upper and lower limits, and the mean. After that, I wait for price to approach, reach, and either reverse at or break through one or the other. Each day, with one eye on where we are in the general trend, I look to find the pre-open demand and supply levels. These are also illustrated throughout. One can easily skip the troll posts by skimming through the threads to find my charts (the charts of others are unfortunately not usually consistent with the SLA).
 
Ok, thanks.

I always thought, that you also take channels of daily and lower into account...

So from what I read over all the years the important levels in terms of preparation are midpoints of range, 50% levels and highs and lows (extremes)?

Would it also be appropriate here to formulate some questions in term of backtesting. Even after reading your posts in terms of that on TL I have to say that I'm still circulating around myself...
 
In terms of prep, given where we are in terms of the weekly channel, I look to see where buyers are no longer willing to pay the ask and sellers are no longer willing to lower the ask, i.e., support and resistance. Then I wait for price to move out of this one way or the other. Again, this is illustrated with the charts I've posted here.

As for questions, no, sorry. There are over four thousand posts in four previous journals answering questions and providing explanations but confusion still abounds because I have not yet found a way to explain this more clearly. Therefore I started this journal from an inductive perspective, leaving it up to the individual to figure it out for himself. Those who want to pursue it can start their own journals and I'll answer whatever I can there. But I see no benefit to another 1000+ post thread. If you are particularly concerned about backtesting, I suggest you review my posts to kp's journal beginning with early November. Much of what I posted there was not pursued, but you may find the posts useful.
 
As to "prep", I'll point out that since midnight we have been bouncing between 4301 and 4309. A little while ago, we dropped below 4301. What are traders going to do with this? No way of knowing. But at least they are beginning to search for a new value level. Everything else is just clutter.
 
dbphoenix said:
In terms of prep, given where we are in terms of the weekly channel, I look to see where buyers are no longer willing to pay the ask and sellers are no longer willing to lower the ask, i.e., support and resistance. Then I wait for price to move out of this one way or the other. Again, this is illustrated with the charts I've posted here.

As for questions, no, sorry. There are over four thousand posts in four previous journals answering questions and providing explanations but confusion still abounds because I have not yet found a way to explain this more clearly. Therefore I started this journal from an inductive perspective, leaving it up to the individual to figure it out for himself. Those who want to pursue it can start their own journals and I'll answer whatever I can there. But I see no benefit to another 1000+ post thread. If you are particularly concerned about backtesting, I suggest you review my posts to kp's journal beginning with early November. Much of what I posted there was not pursued, but you may find the posts useful.
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Ok, I will do, thanks. Actually I found those posts a few days ago and one of your suggestions were kind of hitting me: You mentioned that he should look for areas where trends start... simple but not easy...

As for the prep: On the daily we have a range in between 20 and 77 roughly with a midpoint below 4300... Maybe that's from "value" too? I mean not that one knows in advance, but in terms of the prep discussion.
 
timokrates said:
As for the prep: On the daily we have a range in between 20 and 77 roughly with a midpoint below 4300... Maybe that's from "value" too? I mean not that one knows in advance, but in terms of the prep discussion.
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Again, this sort of thing is best dealt with in a separate journal.
 
artemstreb said:
you come across as arrogant,&dogmatic to me. you not only model in the works
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No, this is not the only available model. But anyone who wants to succeed is going to have to go through the necessary study, research, testing, and trade planning, regardless of the "model" he follows. If he doesn't, he will fail. Given the failure rate of traders, one can draw one's own conclusions.
 
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