I have, many times.
switching gears to Price Action via SLA
- Thread starter gears
- Start date
I have, many times.
You do understand though that this has nothing to do with him taking his trade early at 936 correct?
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the markets not random buys & sells. this is not a coin flip, but lot more complexity. may feel random, and oft times HFT skews we that trade on the 'macro'. but never random
As much as the attention to my journal is great, I wish those who participated would stay on topic - MY choice of topic. I'm trying to trade via Price Action, AMT and SLA.
B1S2 and artemstreb have VERY different approaches than I do so while I wish you luck with your trading endeavors, the commentary is quite distracting for me and interrupts the flow of my journal.
B1S2 and artemstreb have VERY different approaches than I do so while I wish you luck with your trading endeavors, the commentary is quite distracting for me and interrupts the flow of my journal.
this first time i posted here,and when i did i said your market is not random. i'd think you like that. we DO have that in common,right?
curious why you so evangelical with you SLA?
just another method?
must you ram it down our throat every thread?
just another method?
must you ram it down our throat every thread?
Yes, my postings were/are on topic. I have been trying to help you see that by using your level as defined by SLA, you were just a tad early at the 936 time with the long. Your analysis of a long there was correct. However, if anyone posts charts of the time frame they will probably show where the trade should have been made--about 6 minutes later. You were not late to the trade at all. If you take a trade early like that, you'll just need to use a larger stop since you don't know yet how far the market will move yet below the defined level. Your best interests at heart--Ishmael
So today was a better day, but I started out with repeating a mistake that I made yesterday. Not to make excuses, but this time I wanted to jump in after seeing price just PLUNGE 20 points after the open. I was in FOMO mode.
I had 4413 as an area marked off as likely support. So when price got down to it and seemed to jump away from it, I jumped in. It sort of seemed like a HL occurred so I just hit the buy button - and I was stopped out two minutes later. And after that, 4413 was sliced through 4 minutes later. Ok - regroup.
So then I took an SLA type trade and after I did so, realized price was down near 4400 and those areas often act as S/R. I held for a few minutes, but it wasn't a comfortable few minutes. My first 5point target was met, but I exited the 2nd one after the SL (drawn from the 5min chart) was broken.
Then I drew in a DL (from the 5min chart) and SHOULD have entered off the HL (purple squares at 1009) but I chickened out. However, after the next HH printed, I figured I should still go for it. So at the next RET, I entered long. First target of 5points was hit again and when the DL was broken, I exited the 2nd and here price was again around 4413.
So since the DL was broken but was then followed by a LH just underneath that level, I shorted. I know it was inside the DL, but the combo of the DL nudge with the LH was just too much for me to pass up. Both targets hit on that trade. And at that point, I was done.
Price is moving like a Mack truck today, but I was getting less and less patient so it was time for me to call it a day. According to AMT, 4378ish was the next target and goodness I just checked and it's been met. Wow. I was messing around during the more 'choppy' time today.
Today is a day where my plan of taking specified targets won't net me the greatest reward. However, until my PA skills, patience and risk tolerance improve, that's just how it's got to be for me.
I had 4413 as an area marked off as likely support. So when price got down to it and seemed to jump away from it, I jumped in. It sort of seemed like a HL occurred so I just hit the buy button - and I was stopped out two minutes later. And after that, 4413 was sliced through 4 minutes later. Ok - regroup.
So then I took an SLA type trade and after I did so, realized price was down near 4400 and those areas often act as S/R. I held for a few minutes, but it wasn't a comfortable few minutes. My first 5point target was met, but I exited the 2nd one after the SL (drawn from the 5min chart) was broken.
Then I drew in a DL (from the 5min chart) and SHOULD have entered off the HL (purple squares at 1009) but I chickened out. However, after the next HH printed, I figured I should still go for it. So at the next RET, I entered long. First target of 5points was hit again and when the DL was broken, I exited the 2nd and here price was again around 4413.
So since the DL was broken but was then followed by a LH just underneath that level, I shorted. I know it was inside the DL, but the combo of the DL nudge with the LH was just too much for me to pass up. Both targets hit on that trade. And at that point, I was done.
Price is moving like a Mack truck today, but I was getting less and less patient so it was time for me to call it a day. According to AMT, 4378ish was the next target and goodness I just checked and it's been met. Wow. I was messing around during the more 'choppy' time today.
Today is a day where my plan of taking specified targets won't net me the greatest reward. However, until my PA skills, patience and risk tolerance improve, that's just how it's got to be for me.
I appreciate your take on my trade. However, I'm not interested in increasing my stop level at this time and you can't/won't/don't seem to understand that. We differ on our approach and that's just how it is. As I stated before, best of luck to you. Please refrain from continuing to state your opinion of how I should trade with regard to stops in my journal --- your opinion has been noted.