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DbPhoenix
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Everything posted by DbPhoenix
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The chart on the left was posted yesterday evening. The chart on the right is today's session. These illustrate as well as anything the value of AMT. If you didn't rake in a sizeable portion of this today, why not?
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77 was a line in the sand since yesterday afternoon. I wanted to see it broken first. Three points is not that big a deal.
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What REV at the open?
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SLA trades for this morning:
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SLA trades for this morning:
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This is as good an example of What Do I Do Next as one can expect in the early stages of learning how to trade rationally.
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The view at 0700: ......................... 0815: Price drops below 77, but the short entry off the ret is not triggered. Price moves back into the range.
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The view at 0700: ......................... 0815: Price drops below 77, but the short entry off the ret is not triggered. Price moves back into the range.
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I no longer have any of that. But there are only so many ways to illustrate the same thing, and there are plenty of examples.
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It would seem so, tho it broke out of all that at 0950.
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And for tomorrow: .............................................
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And for tomorrow: .............................................
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Today's trades via the SLA. The first is the pre-market. The second shows a long, a short, and a second long. This is stopped out shortly before 1000. However, there is no retracement for a short, so the long can be re-entered after the failure of traders to find trades below 1368. This long holds until around 1140.
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Today's trades via the SLA. The first is the pre-market. The second shows a long, a short, and a second long. This is stopped out shortly before 1000. However, there is no retracement for a short, so the long can be re-entered after the failure of traders to find trades below 1368. This long holds until around 1140.
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The ET threads will be there as long as ET is. No need to copy and repost here. In any case, the SLA-AMT pdf is standalone. If you're interested in this approach, I suggest you open a journal so that all that you do is in one place. As to the Supply/Demand lines, you need only two, one to track supply and one to track demand.
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How would you have traded it using the SLA?
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Be cautious about seeing hinges where they may not exist. An alternate view of what happened here was that the SL was broken around 0956. This prompts looking for a long entry, which was where you have your yellow circle. The fact that price got there after DBing at the lower limit of the ON TR encourages the long entry. And even if you incorporated the supposed hinge into your tactics, the fact that a move out of it to the downside failed also encourages taking a long out the opposite side.
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You may also want to follow the posts I make to the Ghost thread at ET. I rarely duplicate them. I don't have the time. But you're all focusing pretty much on the same stuff.
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Don't overlook the significance of 04: where are the levels beyond which traders can't find trades? This will be particularly important at the opening bell. If you want to wait that long.
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"Trading psychologists" love this sort of thing because it enables endless gurubabble which can and often does seem profound but is of no use whatsoever. Perhaps the best way to understand it is to examine the self. This provides a double-whammy since it helps the trader to understand the behavioral dynamics of others as well as fix whatever problems he himself may have. We are more alike than we are different. If a trader panics whenever price moves against him by a single tick, he can bet that their are millions of other traders out there who are experiencing the same emotion. If he understands how supply and demand work, and if he can view the situation without emotion, the emotions of others become more clear, particularly as they influence the balance between supply and demand and thus the movement of price. As to trading without emotion, that's where the Zen comes in.
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Actually, it's free. Just go to the SC homepage. You'll get candles and indicators, but by this time, my brain automatically filters them out.
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StockCharts enables you to create "candle glance" groups of up to 10 tickers. So it takes less than a minute if you set it up and bookmark the page. I check them primarily when the NQ is nearing an upper or lower limit or a mean, primarily for confirmation. I don't enter with a bias of any sort.
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I use StockCharts, but anybody will do: AAPL, MSFT, GOOGL, AMZN, QCOM, INTC, FB, CMCSA, CSCO, GILD
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You may also want to look at the NDX 10.
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From the mean to the LL back to the mean all in one day. 100pts each way. When's the last time you saw that?
