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DbPhoenix
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Everything posted by DbPhoenix
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Meaning that if one can't find a buyer for what one has, he either lowers his price or looks for another buyer. Fear is not an issue unless he just bought the goods himself and is now having trouble unloading them. If he put everything he had into them, then, yes, there might be some fear entering into it, particularly if he has a big payment on his cart coming up. But, otherwise, it's just business. Discount the winter coats in the spring, discount the tanktops in the fall.
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Or just an acute business sense.
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The levels beyond which traders couldn't find trades . . .
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This chart is an extension of the above, beginning just a few minutes before the open, switching to the 1m for the trading session. For those of you who are taking this out for a test drive, if you are trying to catch every twist and turn, you should compare your results with what you might achieve if you were to give price its head and just flow with the major shifts between demand and supply. While on the face of it you may be "giving up" points by not keeping your DLs and SLs skin-tight, you won't be getting chopped up and frustrated, either. Since you're experimenting anyway, it's worth at least a try. I should also point out, in case it's not obvious, that setting "targets" and determining "support and resistance" ahead of the session is a waste of time. Price will tell you when it's ready to turn. Judge the market by its own action.
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This chart is an extension of the above, beginning just a few minutes before the open, switching to the 1m for the trading session. For those of you who are taking this out for a test drive, if you are trying to catch every twist and turn, you should compare your results with what you might achieve if you were to give price its head and just flow with the major shifts between demand and supply. While on the face of it you may be "giving up" points by not keeping your DLs and SLs skin-tight, you won't be getting chopped up and frustrated, either. Since you're experimenting anyway, it's worth at least a try. I should also point out, in case it's not obvious, that setting "targets" and determining "support and resistance" ahead of the session is a waste of time. Price will tell you when it's ready to turn. Judge the market by its own action.
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I've never used that. Scroll down to "Attach Files" and click "Manage Attachments". Then click "Choose File" (I assume from your computer) and "Upload".
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How are you uploading them?
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I point out in the SLA-AMT (first post) that it is important to prepare for the day rather than arise bright-eyed and bushy-tailed, prepared only to spring into the unknown at the opening bell. In that vein, I posted the first two charts to ET in order to show what I'd be looking at and for when the NQ reopened yesterday evening. Pay particular attention to the minimalism. The next four were posted beginning yesterday evening. This is a somewhat more immersive preparation for the opening session than drawing traditional support and resistance lines. The rules in the first chart posted yesterday evening are from the SLA-AMT pdf. The mean of the daily downtrend channel is around 3500.
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I point out in the SLA-AMT (first post) that it is important to prepare for the day rather than arise bright-eyed and bushy-tailed, prepared only to spring into the unknown at the opening bell. In that vein, I posted the first two charts to ET in order to show what I'd be looking at and for when the NQ reopened yesterday evening. Pay particular attention to the minimalism. The next four were posted beginning yesterday evening. This is a somewhat more immersive preparation for the opening session than drawing traditional support and resistance lines. The rules in the first chart posted yesterday evening are from the SLA-AMT pdf. The mean of the daily downtrend channel is around 3500.
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Looking forward to it.
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No indicators. Please stay on topic.
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Where we are. At what point can one say that the "overbought" ship has sailed?
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Where we are. At what point can one say that the "overbought" ship has sailed?
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No, no indicators and no S/R in the usual sense. The purpose of the thread is to implement the SLA trading plan (see the first post). You may want to open up a journal here if you want to pursue it. However, if you attempt to implement the plan and use indicators at the same time, they will be at cross-purposes with each other and you most likely be unsuccessful.
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No drama. The SLA is a trading plan. It has rules. If you choose not to follow the rules, you're welcome to develop your own trading plan. But that's not the purpose of this thread.
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Sorry, I have no idea what you're talking about. There is no hinge. Your supply line was broken long before any hinge might have been formed. This resulted in a long. When the DL is broken, the long is exited. You then wait for a ret to take a short. Therefore, the short has not yet been taken. The rules I'm referring to are in the pdf. They are not your personal rules.
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But your hinge does not come into it until long after the supply line is broken and you've taken the long trade. By that time, it's irrelevant. Perhaps if you were to copy and paste the rules here, that might provide some clarity.
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I understand that the horizontal zone factors into your decision, but that has nothing to do with following the rules of the trading plan. If you'd rather create some other trading plan, that's fine. But that has nothing to do with the subject of the thread. If you need further explanation and more examples, see this thread.
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I was referring to the chart I posted later of your right edge:
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The long need not be exited until the demand line is broken unless you have some reason for exiting earlier. As for the red line you drew to your LH, it serves no purpose. Perhaps you could explain how the SLA rules apply to the lines you've drawn.
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Yes, but you've drawn it incorrectly. See the chart that I posted for that timespan.
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By the time you've drawn your red line, you'd already be in a long. You don't have to follow the SLA, of course. You can plan whatever strategy you like. But it wouldn't have anything to do with this thread. Plus you need to backtest, forwardtest, and at least simtrade whatever strategy you devise.
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But you can't know in real time whether they are going to have a "clear swing" or not. The right edge of your chart, for example, should look like this:
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If you had drawn the lines in real time, those at the beginning of the chart would have looked like this:
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Your last dk grn line might have been drawn in real time, but the rest were not due to the fact that the price points necessary to draw them did not exist at the time they were drawn. Be that as it may, without a trading strategy to accompany this, they're just lines. If you intend to use the strategy detailed in the pdf, all these lines are drawn incorrectly, or at least they would have been drawn differently in real time.
