switching gears to Price Action via SLA

Discussion in 'Journals' started by gears, Feb 16, 2014.

  1. gears

    gears

    I'm honestly not thinking of trades while I've been replaying - specifically not today.
    Trade without thinking of the trade?
     
    #301     Feb 23, 2015
  2. dbphoenix

    dbphoenix

    I must have misinterpreted your reviews.

    It's key. If you can't follow and study and continuously evaluate price behavior without thinking about where you entered and how your trade is going and how much money you're making or losing, all that fear will come rushing back in and you'll be right back where you started. You must be able to re-enter after a premature exit and you must be able to reverse a position if you find yourself on the wrong side. You won't be able to do that if you're thinking about the money. If you're not ready for this, just keep on observing.
     
    #302     Feb 23, 2015
    lajax likes this.
  3. gears

    gears

    I misunderstood.

    At this time, I am not able to trade without thinking about the context of my entry. And it sucks to be so focused on that. My thoughts are that it's due to my entries not being at optimal points - which is why I'm looking more to S/R areas.
     
    #303     Feb 23, 2015
  4. dbphoenix

    dbphoenix

    Well, again, maybe it's time to start following somebody at TL. You need to shock yourself somehow in order to move on to the next step.
     
    #304     Feb 23, 2015
  5. fortydraws

    fortydraws

    Maybe, gears, it might help if you were to look at something else for a bit? Do you have access to replay on individual stocks? You know, maybe watch something that you have no intention of trading, where the price scale can mean little to you. Where you have no idea as to the character of the market for that stock. Where you would not even be tempted to trade it because you really have no idea what is going on. YY, for example, is at a spot that might lead to a few days of interesting observations, and CYBR is another that has had lots of movement that likely has a few days of interesting behavior left in it. If you think this might be a useful exercise, I would suggest not following a stock that is highly correlated with the movement of the NQ. I would also suggest that you not pick another futures market. IMO, pick a stock to watch. Watch it for a few days. Maybe then pick another - just nothing from the Nasdaq 100. Maybe the experience would prove just strange enough to you to make you remember what it felt like to be young again ;)
     
    #305     Feb 23, 2015
    lajax and dbphoenix like this.
  6. dbphoenix

    dbphoenix

    Now why didn't I think of that? :)
     
    #306     Feb 23, 2015
  7. gears

    gears

    Unfortunately I only have access to futures data through my data provider.
     
    #307     Feb 24, 2015
  8. fortydraws

    fortydraws

    freestockcharts.com

    You can't do replay, but you can watch in real time. A chart is a chart. The only problem with using the free data rather than the paid real time is that since the free is BATS only, lower float stocks might look like they are sitting there for an hour without a trade when in fact it is a dollar higher than it is showing.
     
    #308     Feb 24, 2015
  9. There's probably a few brokers who give you real time stock data and a nice platform for a few weeks if you open a demo account with them.
    I'll send you a link that I used a while ago that may (or may not) suffice
     
    #309     Feb 24, 2015
  10. dbphoenix

    dbphoenix

    If I may tweak this suggestion, it might help to find a stock that's mean-reverting. This would likely mean one that is heavily traded, but if you choose it from the SPX rather than the NDX, e.g., something financial, you should be okay in re your experiment.
     
    #310     Feb 24, 2015