SLAAMT Exercise

My initial idea is the less thinking, the better. Swing highs for me are tricky, sometimes I like to use them to my advantage, sometimes I ignore them.

I'm not a damaged trader thankfully, but I guess its obvious I have fear issues. What you said earlier I liked where you are quick to exit and quick to re-enter. Over trading isn't an issue in terms of commission for me, its only 2 bucks each way, so one tick round trip in terms of cost. Once your account gets big enough and you are confident enough, you can handle a 10 point RET, because we have seen on many days the general move just keeps going. But for a new guy like me, I want to just pick up pocket change and don't mind working for it via entries and exits.

I'm not sure what I will do tomorrow. If we use today as an example, holding on is good, getting in again is good. My gut feeling is loses are so small compared to these huge swings, so in and out, right away, get into the move at the beginning, and you don't have to worry too much. I look for reasons to not take a short until the trend is clearly established, and then I have to deal with these RETs. If I just short right when I should, I think it would be easier.
 
niko said:
BTW just realized the huge spelling mistake in the thread´s name, just requested the administrator to give me a hand, sorry for not being native. :D
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Price won't care.. and I only care about price! ;)
 
k p said:
My initial idea is the less thinking, the better. Swing highs for me are tricky, sometimes I like to use them to my advantage, sometimes I ignore them.

I'm not a damaged trader thankfully, but I guess its obvious I have fear issues. What you said earlier I liked where you are quick to exit and quick to re-enter. Over trading isn't an issue in terms of commission for me, its only 2 bucks each way, so one tick round trip in terms of cost. Once your account gets big enough and you are confident enough, you can handle a 10 point RET, because we have seen on many days the general move just keeps going. But for a new guy like me, I want to just pick up pocket change and don't mind working for it via entries and exits.

I'm not sure what I will do tomorrow. If we use today as an example, holding on is good, getting in again is good. My gut feeling is loses are so small compared to these huge swings, so in and out, right away, get into the move at the beginning, and you don't have to worry too much. I look for reasons to not take a short until the trend is clearly established, and then I have to deal with these RETs. If I just short right when I should, I think it would be easier.
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You could also exit at 1 point and reenter as the LSH held, you can reenter at the same level, you would be paying 1 point for that extra info.
 
niko said:
You could also exit at 1 point and reenter as the LSH held, you can reenter at the same level, you would be paying 1 point for that extra info.
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I'm not sure I know where you mean to enter. Getting out so quick can lead to "death by a thousand cuts".

I could also do this. I could do nothing. I could see that my one trade where I lost 5 points was an anomaly, a stupid trade, one that doesn't happen often. These retracements aren't that big at the beginning of a move. If I kept shorting as required, I would eventually be in a trade that works. It is after all just a one time occurrence where price comes back up again, one last breath before going down. The next time you can short, you are far away from your first entry anyway. I think I need to take at least 10 more SLA trades and I will be very much in the positive.

Now I'm just sitting here, watching price, seeing where my entries would have been, and had I taken them as I should, I think I would be way positive. Hmm....
 
While I don't want to be unkind, you guys continue to "learn" the wrong lessons.

Today was not a template for anything. If one "learned" that all he has to do at the beginning is develop a bias and hang onto it come hell or high water, the market will make him pay.

I suggest that all of you go back to the posts I made earlier, before this whole downmove began. Did I know we would end up with a new low? No. Did I suspect we might? Sort of. Was any of this suggested by AMT since we rejected the mean of the TC and the obvious goal was the LL of the TC? Yes. Therefore, unless one had EXCEPTIONAL reasons for exiting or for going long, he should have stayed in short or done nothing.

Everyone needs to ask himself "Why am I so terrified of losing imaginary money? Do I play Monopoly this way?" If on the other hand it's a terror of being wrong, then that's something the individual is either going to have to deal with or quit.

Review the posts I made around the rejection of the high while looking at a RT chart, not a chart of the entire subsequent move. Look at the prices as they looked at the time. Notice where price plunges. What is that about? If my comments and my questions make no sense while looking at the chart, then you have a lot of thinking about auction markets to do.

I should also mention that it is very likely that the easy part is over. Not a guarantee, just a caution. GOOGL and AMZN have had dramatic corrections. The NQ hasn't done too badly itself. Will it continue to fall to the LL of the next-older TC? Probably. Will it be as rapid? Unlikely, since it is no longer overbought. But opportunities will arise. You just have to know where to look for them and what to do with them when you find them.
 
k p said:
I'm not sure I know where you mean to enter. Getting out so quick can lead to "death by a thousand cuts".

I could also do this. I could do nothing. I could see that my one trade where I lost 5 points was an anomaly, a stupid trade, one that doesn't happen often. These retracements aren't that big at the beginning of a move. If I kept shorting as required, I would eventually be in a trade that works. It is after all just a one time occurrence where price comes back up again, one last breath before going down. The next time you can short, you are far away from your first entry anyway. I think I need to take at least 10 more SLA trades and I will be very much in the positive.

Now I'm just sitting here, watching price, seeing where my entries would have been, and had I taken them as I should, I think I would be way positive. Hmm....
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Notice how when prices managed to make a HH or LL the RET never reached LSL or LSH.
 
niko said:
Notice how when prices managed to make a HH or LL the RET never reached LSL or LSH.
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You're absolutely right. But that isn't part of SLA.. which is fine, but its not a filter, and this also means that our scratches have to be way more than 2 points. But I fully understand the significance of this.
 
k p said:
You're absolutely right. But that isn't part of SLA.. which is fine, but its not a filter, and this also means that our scratches have to be way more than 2 points. But I fully understand the significance of this.
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If one could detach one self from the entry point and focus on PA things would look different. What I said is actually a part or SLA, why do we keep a trade open until the LSH is broken once we are in profit?.
 
niko said:
If one could detach one self from the entry point and focus on PA things would look different. What I said is actually a part or SLA, why do we keep a trade open until the LSH is broken once we are in profit?.
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Yes, the PA today I saw, just my entry scared me, and did each re-entry because of the emotion of being wrong on the first one.

Well yes, if the SL is broken then getting out is the protocol, but depending on the height of the LSH, this may or may not break the SL. I just meant that swing highs or lows aren't in the rules, but they might show their significance in terms of being in the direct line of the supply or demand lines.
 
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