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goodoboy
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Everything posted by goodoboy
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Thank you Db, Always great to read your knowledge and experience. I purchased the your first book 4 years ago and need to read and understand the SLA theory. Will the book teach me all I need to know about SLA? Well, as much as possible. Thank you, .
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Trading the SLA/AMT Intraday, Part II: Questions and Discussion
goodoboy replied to DbPhoenix's topic in The Wyckoff Forum
Thank you Db for your efforts and willingness to help. I am one of those souls. I am still reading SLA/AMT for now, but I shall have questions soon Thank you -
Hello DbPhoenix, Where can I locate the recently edition of the SLA/AMT and Appendix F? Thank you so much for your efforts. See this stickie. The various drafts of the SLA are floating around. There is a fee, however, for the finished product. But if you are interested only in Appendix F, I'll send you a copy upon request.
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Just wanted to stop here and say Thank you. Thank you for helping me about 1.5 years ago when these forums was really active at TL. I learned so much about simplicity, trading journal. I took some time off ES to focus on another job. But back for and still keeping up with my journal and developing my own trading plan. Still trading paper. That's right. Two years and still trading paper. I'm still learning and having fun.
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Hello Steve, You may not remember me, but you personally helped me with my ES trading about 1.6 years ago when I was actively trading the ES. I learned alot, but never got a chance to perfect a system for myself. I basically made lunch money. I took some time away to finish up my engineering license and now I am back in the lab. Keep up your good work please for the small struggling traders out here. Also please update on the next class. Thank you kindly. Keep up the good work please.
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For me, I trade the ES. I bring to breakeven, once price moves 3 points in my favor.
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It really depends on what makes you comfortable. I been watching price action of the ES for nearly 1.3 years. And I have notice that each week a good opportunity arises for big points (5-10 pts). Usually support and resistance trading is easier for me. However, daily I look for a good trade. I think risk vs reward means alot. I'm not sure if I am making sense here. It depends on the instrument too. I know for ES, it requires patience and you have to wait if trading one contract. Also, trading one contract is tuff work man. I am using two contracts and it does help for patience.
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Hello DbPhoneix. Its been awhile since we talked. I am still in ES trading (learning, making mistakes, modifying plan, etc.) There was thread I read about trading Box price action. Can you point me to that tread? My brain went dead lock on ES price action dismorning. I wasn't sure rather to short the top of trading or break below trading range, so I want to read on that subject. But now that I think of it, shorting bottom of range after breakout is the less risk. Thank you,
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Working full time a job = guaranteed money Trading = maybe you win maybe you don't I will never leave my full time job or trade futures again while working. Not worth the stress or money.
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Thanks Steve, I have been following rules so far and last week was my first good week, where I got 16 points. Of course I am still paper trading.
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Have a good day off Steve. Your daily work is appreciated. I been missing last week due to working late myself. But Friday, I got 4pts of the down spiral. The two days before that was pretty tuff. However, there is always this week:cool:
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Yes, got out at 47. hahah I was looking at 45 cause your chart showed resistance there. I went long, cause pre-market support was at 42 for a long time. So, I waited til market open and at first sign of push higher, i went long. 43 is the entry i got. The long was in hopes of 45 not holding.
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THank for the chart. I am long 1443, so i hope market takes out this 1445 area.
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Thanks for the example Steve, I having been using the 3 min chart and having good success with it. I also like the test and retest entry method. This works well for me. I also, us the 2 point stop method and bring to break-even once 3 points in the money, then wait for the target to be met. Patience this last week has really help me. I still struggle with less patience, but working on it. Thanks for sharing.
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I don't know much to trading. I only know what I know from hard direct experience and repeated daily practice, note taking, reading, and chart time. But I come to conclusion its all discipline.............................. The success that a trader achieves in the markets is directly correlated to one’s trading discipline or lack thereof. Trading discipline is 90 percent of the game. The formula is very simple: Trade with discipline and you will succeed; trade without discipline and you will fail. I have also come to conclusion that I don't feel bad about my previous losses in the beginning. Lets face it, I didn't know what the hell I was doing. And guess what.......I still don't know what the hell I am doing. But what I am doing makes sense to me and seems to working thus far. So all that technical and discipline stuff don't mean nothing unless the trader know what the hell they are doing. Just my two cents.
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Thanks, yes I got emotional that trade. Yes, I keep a trade journal and pictures of each trade. No, I did not follow my trade management plan at all. I got frustrated cause price kept chopping around. hahahaha, And yes, I was getting tired of the breakeven., I had like 3 already this week. But yes, it happen today, I got mad. So, i will record it in journal and correct it. I guess I am still learning, next time i will just walk away or just read my trading plan. Im still working on entry plan, so its backward and forwards.
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Thanks for posting Steve, I just caught up on all the posts from the past two days, I been having to work some extra hours at work. For the case of the ES in your example. How do you handle this case on on entry? Price closed below the line, but never came back to retest for short entry consideration. Now do you let this trade go cause it does not meet entry criteria? Thanks,
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You are right about that. Many times, I find myself entering before the setup I want, only to ask for a few tick loss cause I know I am rushing. The patient thing is an ongoing problem. To combat this problem I have limited trades to 2-3 per day and 2 in the morning and one in the evening is one is there.
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What do you mean by average stop run? I use max 2pt stop loss per trade.
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Good trade, this 48.25 was tuff as rocks.
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Im out at 1441.50. I have no clue why I exited, I just got out. Im outta here for today. ES ticked me off today.
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short 1446.50 finally got in on this little ES. Tuff darn morning trading. But finally got one. Im holding on this one. Geeeeeeee Wiiizzzzzzzzzzzzz
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break even on that. No breakout for today upwards.
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long 1449 i have 1448.25 as support. price tested it and now I am waiting for 1451.50 to break out.
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Is it just me, or does it seems like everyone was waiting for this 1445 area to hit and it finally did and price goes up to test overnight highs.