As far as I understand it I am not THAT different from your way of risk management by basically limiting losses & by being stubborn in the face of consecutive losses (at times) as long as I remain rational about the set-up still being present. Hate 'em BOTs, they are rotten SOBs. Worst performance when they are about.
On page 22, the famous referal of this thread you missed the end of the current dominant trend. And you criticized the guy who was opposite you on the right side of the trend. There is a post showing in this thread what a period of time looks like between a trend and its resumption. that range bound period is very tradable and achieves two things: takes you out of the end of the first leg optimally and takes you into the resumption optimally. On page 22, you missed the optimal exit and you missed the optimal profit taking to catch the optimal resumption. So it comes down to three things for you; you do not know how to enter, exit, nor deal with brief range bound intervals. What are the seven things a person does to cover these bases? Who cares? This combo that you illustrate in your judgement of me (which is just fine with me) makes your case for not progressing in your skills. no one in the world needs to trade as I do. But why not, instead, at least use the ideas of people who do trade as you could in a PA mentality? Look at the tells of PA traders. What do they say? Look at the P&L's of PA traders. What does that say about improving? Look at the path to PA. How long did it take? How long do PA traders stay in trading? Where do PA traders go to keep trading? Look at PA graphics. Take a good look at yours, in particular. Does anyone have to worry when all the illustrations of a PA thread somehow loses all it's charts? Look at the PA routine. Look at the parts related to OODA (John Boyd's idea used by Steenbarger and Greenspoon) or a thing like MADA that has monitor, analysis, decision making and action as a routine. How does PA deal with trends, momentum, volatility expansions, BO's, TL's, formations, the open, settlement, boxes?
When ammo made the call, he was on the wrong side of the trend, it hadn't turned yet. st was "fading the move" - which means going aginst the dominant trend, as the he saw that the market was facing strong resistance. he knows how to do that, I don't. he has the experience and knowledge, and knew it well enough to put his trading lifestyle/real money on the line. He was schooling guys weeks ago about how to determine it on a thread entitled "How do you Determine the Market's S/R Levels" or some such thing. *** Hey, you know. I'd love to harung with you for a little while longer, but AlmostGotIt pretty much nailed you and your little act (please see the picture above), and anything I say is pretty much going to be redundant.
I don't belive you trade jack, and for the life of me I have no idea why you keep coming around trying to "help us" ... LOL Hey, anytime you or "the people" you mention in your post start posting their PnL's, I'll sit-up straight and pay attention. Until then, as far as I'm concerned, everything you write belongs in the literature section of the library and should be labled under "fiction" and placed next to the sci-fic paperbacks. Note: The abscence of a "smiley face".
congrats on your 500th post. I follow your posts and appreciate you sharing your no-nonsense thoughts! I just wish you post/comment more. 500 posts in 4 years - not that many!
So what is price action? - well for me its not where price is, its the manner in which it got there, its in the action, 'action at the price', those little pops that shake the weak and make them switch hands. I want a slow unconvincing grind in my direction, with some quick moves against to try and scare me out and just enough to leave hope with the guys holding the bag. Thats price action for me. HPT.
hpt You have a long road yet to travel in "UNDERSTANDING" price action. Viewing and hoping price action as it relates to your "HOPES" is NOT understanding price action at all. Sorry, but viewing price action just to satisfy your trade is a mistake. The mkt cares less about any persons single trade. Your job is to interpret the action not to wish your will upon it.