Nice post Jander,
I will share my thoughts on the topic of laterals using P/V with limited skills developing in T/S and DOM toolsets here (i.e.primary use of Course/Medium tools). As one becomes more comfortable anticipating and 'see'ing laterals forming and knowing that they are non-dominant retraces then one can begin to formulate approaches to 'D'ecision and 'A'ction. For instance some laterals offer little in terms of extraction opportunity (i.e.tight range and slow pace) where it makes sense to hold through them, while others open up wide enough and have sufficient pace to extract a bit more by reversing on (or close to) the walls (while always being mindful of the upcoming dominant BO).
I will also share my humble opinion regarding price movement against you, These feelings (fear, anxiety) diminish as skill, knowledge and experience increase.
For instance, ask yourself this question: Should you be concerned with price movement against you if you 'know' you are on the right side. If your MADA skills tell you (with certainty) you are on the right side then unless the market tells you something has changed, you should be confident in your decision and the market should be supporting your decision with each MADA sweep (stop worrying about where you entered or where you sit P/L wise). If you feel you do not know what is going on then sideline (that is ok to do
) Listen to that part of your mind (it is telling you you are deficient in an area of MADA and need to fix something) and note the area for debrief either immediately and/or later. Remember, It is about partnering with the market and listening to what the market is telling us. As we begin to hear what the market is saying we simply do what it says and place ourselves on the side it is telling us to be on. As skill improves the trader is anticipating where the next entry/reversal will occur and is waiting patiently for it to arrive. It is Not about price moving against us. Hide that part of your screen. It is not helpful in any way to the routine being espoused.
It is not my intent to sound pompous. I am working on these techniques just as you are. I believe this is what Jack and Spyder teach us regarding the methods.
hth
I will share my thoughts on the topic of laterals using P/V with limited skills developing in T/S and DOM toolsets here (i.e.primary use of Course/Medium tools). As one becomes more comfortable anticipating and 'see'ing laterals forming and knowing that they are non-dominant retraces then one can begin to formulate approaches to 'D'ecision and 'A'ction. For instance some laterals offer little in terms of extraction opportunity (i.e.tight range and slow pace) where it makes sense to hold through them, while others open up wide enough and have sufficient pace to extract a bit more by reversing on (or close to) the walls (while always being mindful of the upcoming dominant BO).
I will also share my humble opinion regarding price movement against you, These feelings (fear, anxiety) diminish as skill, knowledge and experience increase.
For instance, ask yourself this question: Should you be concerned with price movement against you if you 'know' you are on the right side. If your MADA skills tell you (with certainty) you are on the right side then unless the market tells you something has changed, you should be confident in your decision and the market should be supporting your decision with each MADA sweep (stop worrying about where you entered or where you sit P/L wise). If you feel you do not know what is going on then sideline (that is ok to do
) Listen to that part of your mind (it is telling you you are deficient in an area of MADA and need to fix something) and note the area for debrief either immediately and/or later. Remember, It is about partnering with the market and listening to what the market is telling us. As we begin to hear what the market is saying we simply do what it says and place ourselves on the side it is telling us to be on. As skill improves the trader is anticipating where the next entry/reversal will occur and is waiting patiently for it to arrive. It is Not about price moving against us. Hide that part of your screen. It is not helpful in any way to the routine being espoused.It is not my intent to sound pompous. I am working on these techniques just as you are. I believe this is what Jack and Spyder teach us regarding the methods.
hth
