Making of a method

Now NDX 35 Failed Offer so if long bias then willing to consider NDX 45 Touched again. So watching for NDX 35 Held Bid again.

 

Basically your held bid/offer is jargon for S and R?

 

As observed in real time.

 

Not my jargon though. Pretty standard tape reading talk.

 

At this point I would not consider long NDX near 35 unless and until the $SOX is cooperating.

 

While your feedback is always welcome, let's try and keep this journal concise. Play by play commentary is not going to help with that.

 

game I was just responding to this commentary. But l should have ignored him since this is your journal, not db's. Right?

 

I apologize. I am just feeling a little combative after today's performance. It is after all a public journal. And I am not going to get into anything other than executing the method here.

 

My apologies as well.

 

Method update

1) Create context:

Analyze long term and short term trends. Through this study, determine the LOLR.
Identify areas of recent S/R that may prove to be important for the upcoming session.
Construct stories from these elements of trend and S/R. The stories will contain the hypotheses for the session.


2) Session process:

Observe current PA to determine whether price is confirming, refuting or being agnostic on the hypothesis.
Use the unfolding PA to develop mental arguments regarding why or why not. If there is no strong argument in either direction, then decide not to participate until there is.

3) Strategy:

Trade the LOLR.
If thinking is not clear then LOLR is not established, so do not trade.
Trade clear thinking.
Trade only the extremes or critical points. Otherwise there is no edge so keep waiting.


4) Tactics:

Use confirmed S/R as the basis of the approach, unless there is a critical point that lies away from the extremes.
Use extent of Rev wave or loss of momentum signal to turn tentative S/R into confirmed S/R.
Enter in the direction of LOLR on retest of S/R.
Manage trade based on overall context and unfolding S/R.
Try multiple times if price is at an anticipated tipping point.

5) Review:

Review the thinking behind each trade and look for patterns of error.
Update method with improvements.