SLAAMT Exercise

k p said:
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.
More...

Give a new read to the file, you will find what I am talking about.
 
Here's my chart for the morning. I got stopped out a few times initially, but once I was in a good short, I held on - not allowing much of the pullbacks to spook me.
 
gears said:
Here's my chart for the morning. I got stopped out a few times initially, but once I was in a good short, I held on - not allowing much of the pullbacks to spook me.
More...

Seems like you did just fine, how are you scratching?
 
niko said:
Seems like you did just fine, how are you scratching?
More...

I'm using a point. I like it and hate it. Sometimes it keeps me out of trouble and sometimes it keeps me from just getting past a slight pullback.

It's like what I meant with my question yesterday… if you trigger a trade and price moves IN the direction of your trade a certain amount, there's obviously some merit in having taken the trade. If it then pulls back but is a) either inside a line or b) hasn't gone more than the last swing, there's merit to me (outside of a HL (sell) or LH (buy)) to hold that position. Am I doing that?? Not necessarily. But I think it would be wise to test it out. As we all know - the market doesn't know where we got in - only we do. That's my best bet for success - detaching myself from MY entry/P&L to what's going on with price.

Sorry for not just a cut and dried response.
 
I realize I'm not in chat and involved with this but once I'm in a trade with a profit I use the latest swing high or low as my point to get out, my problem is when that point comes before I have a profit! Sorry to butt in niko:p
 
Is the SLA about lines or it is about supply and demand?

The scratch is all about acting when the trade isn't going as expected. It is intended to defuse hope. At what point does the trader determine that the trade isn't going as expected?
 
As Db is saying - people are scratching based off of what amounts to nothing. Just a little retrace or a bounce. What we should be discussing IMO is when we know a trade is cooked. What are valid reasons for exiting a trade based on price action?
 
green.green said:
As Db is saying - people are scratching based off of what amounts to nothing. Just a little retrace or a bounce. What we should be discussing IMO is when we know a trade is cooked. What are valid reasons for exiting a trade based on price action?
More...

Agree, any ideas?
 
I'd say that reading price should take precedence. But I'm not yet skilled enough to 'know' if my readings are accurate. To me, then you look for swings, if the push of price was a panic response (length of time in that space and if that level was supported), 50% level. Thoughts?
 
You must log in or register to reply here.
Back
Top