SLAyers' Notes

[EminiTraderCBOT]

W, D, H.

Not sure if its all properly drawn.

 

[dbphoenix]

Once you've read the book and this thread, I will be happy to do what I can, given my time constraints, to help you. But if you do neither, there's nothing I can do other than copy and paste large sections of the book and previous posts to this thread, which would defeat the purpose of having written the book and made the posts in the first place.

Like nearly all beginners you are focused on finding entries rather than understanding how and why price moves. But if you don't understand how and why price moves as it does, whatever successful entries you may make will more likely be the result of luck than of deliberate, methodical, and thoughtful tradesmanship.

The eminitrader tutorial course you were interested in a couple of years ago costs five thousand dollars. Other courses cost thousands more. Or you can study your book and this thread, buy some legal pads and a box of pencils, and subscribe to a trading program such as Sierra Charts that provides replay for a tiny fraction of these fees. Or you can do without replay if you're willing to watch and record your observations of free, online streaming charts every day. The choice you make will depend in large part on how much you value and respect money.

There are no shortcuts. The faster you hurry, the longer this will take. Given the fact that you are for the most part no farther ahead now than you were eight years ago, that should be self-evident. Can you afford to spend the next eight years the same way?

As you haven't read "The Mind Game" (16p), "Developing A Plan" (15p), or "How To Do It" (3p), I suggest you start with these three sections. If you are unable to find at least marginal success after having completed the tasks assigned in these sections, trading price will not likely be the path for you to follow.

Db

 

[EminiTraderCBOT]

Once you've read the book and this thread, I will be happy to do what I can, given my time constraints, to help you. But if you do neither, there's nothing I can do other than copy and paste large sections of the book and previous posts to this thread, which would defeat the purpose of having written the book and made the posts in the first place.

Like nearly all beginners you are focused on finding entries rather than understanding how and why price moves. But if you don't understand how and why price moves as it does, whatever successful entries you may make will more likely be the result of luck than of deliberate, methodical, and thoughtful tradesmanship.

The eminitrader tutorial course you were interested in a couple of years ago costs five thousand dollars. Other courses cost thousands more. Or you can study your book and this thread, buy some legal pads and a box of pencils, and subscribe to a trading program such as Sierra Charts that provides replay for a tiny fraction of these fees. Or you can do without replay if you're willing to watch and record your observations of free, online streaming charts every day. The choice you make will depend in large part on how much you value and respect money.

There are no shortcuts. The faster you hurry, the longer this will take. Given the fact that you are for the most part no farther ahead now than you were eight years ago, that should be self-evident. Can you afford to spend the next eight years the same way?

As you haven't read "The Mind Game" (16p), "Developing A Plan" (15p), or "How To Do It" (3p), I suggest you start with these three sections. If you are unable to find at least marginal success after having completed the tasks assigned in these sections, trading price will not likely be the path for you to follow.

Db

Thanks reply.

I'm reading the book and then trying to apply what I learn as the market is open while I have the opportunity to do so.

I'm not looking for entries. I'm looking to apply SLA properly so I can get an idea on how to use it in real time.

There are no shortcuts in life. I'm not looking for shortcuts. Just trying to apply each day what I learn from the book and putting it more into a study use than just reading it.

Its been longer than that but Ive been through a lot during that time.

Trading Price is going to be the path I follow. If I have to read the book over enough until I beat it into my head. I will make it happen. I feel that this is truly the way I trade and want to learn how to trade. Ive never been an idicators trader. Using the least filters as possible. Trading price is the way I will go. I just need to put more focus. Step back from trying to post charts and just observe the thread.

 

[dbphoenix]

Looking for trades and looking for entries is essentially the same thing.

Forget about the SLA. Forget about AMT. Read and study the three sections I suggested. Read and study Appendix D. Don't look at the real-time market at all. If you don't understand Appendix D, read and study the Wyckoff thread.

Hurry as slowly as you can.

 

[EminiTraderCBOT]

Looking for trades and looking for entries is essentially the same thing.

Forget about the SLA. Forget about AMT. Read and study the three sections I suggested. Read and study Appendix D. Don't look at the real-time market at all. If you don't understand Appendix D, read and study the Wyckoff thread.

Hurry as slowly as you can.

I didn't mean looking for entries - I just meant applying it in real time and seeing how it unfolds.

OK... I will study the 3 sections you mentioned starting with Appendix D.

 

[dbphoenix]

There's nothing to apply until you understand what "it" is.

I strongly suggest you begin with "The Mind Game". Unless and until you order your mind, the rest is a waste of time and money.

 

[EminiTraderCBOT]

Apparent day with the way the Hourly chart is...

 

[EminiTraderCBOT]

Retraced right back to top of TC

 

[dbphoenix]

.

 

[EminiTraderCBOT]

I thought about drawing it that way but the other fit so nicely on many levels and areas

 

[dbphoenix]

None of which would have existed at the time the tentative channel was drawn.

 

[EminiTraderCBOT]

Great point. I realized that but when looking at how well it conforms to the mean and recent BO and RET levels seemed to hold some validity to it.

 

[EminiTraderCBOT]

.

Since it broke out of that TC, where have you placed your lines?

 

[dbphoenix]

I didn't have that TC drawn, so what I use is not related to it. What I use is an extension of what I posted in #719.

 

[EminiTraderCBOT]

Hi Db,

I have a question... if one focused solely learning to apply SLA to daytrade. Do you think this would be successful?

I'm studying the book inside out. I'm not looking at the market currently. Just studying for now. To focus and not be distracted by forming my own opinion until I study more.

The SLAyers thread seemed to die off. I just wanted to get your thoughts and any advice you can offer. Sla is a lot more than if you can draw a straight line you can be a successful Trader.

 

[dbphoenix]

If one were to attempt to daytrade using the SLA without any regard for context, he wouldn't be using the SLA. There are of course other ways of daytrading, such as scalping.

 

[EminiTraderCBOT]

Right. Which brings me to my point of there's a lot more to If you can draw a straight line you can be a successful Trader. The Straight line is just a part of the whole context and needs both parts to make it work successfully. Not just draw a straight line.

 

[dbphoenix]

What is the purpose of the line?

 

[EminiTraderCBOT]

To track the balances and imbalances of supply and demand areas

 

[dbphoenix]

Can you detect imbalances between supply and demand without it?