Discussion in 'Journals' started by Hooti, Feb 12, 2014.
The focus here is on straight line routines and Price action.
As I understand it, this is not a set-up or and edge. It is a routine.
That's pretty much it.
Mostly will be trading NQ, and posting at EOD or even EOW. I will post live to the extent it is not a distraction to trading.
50% retraces are watched, and Auction Market Theory is of interest.
"AMT" sounds large and nebulous. It may be.
At this point in time I'm using it as an expanded way of understanding 'chop'... that is, the times I don't want to be trading. Times I'd likely be just going in and out of trades.
Here is a 10 min video that simplifies AMT...
It is apparently by a kid 13 years old at the time of posting.
Actually it's about Market Profile, which used to be about the same thing more or less but then lost it's way due to marketing and products and vendors and general nonsense. The AMT stuff posted to the Ghost thread (160) is in line with what I've been talking about.
I will review your 160 again.
Somehow the kid's visuals stuck in my head. And recognizing market profiles gave me a grasp perhaps of some underpinning of AMT. I had not quite made the connection between profiles and AMT before. The whole thing just makes more sense now.
I think the part that impressed me the most was his diagram where he talked about trading the extremes and not in the middle so much.
My take away was getting in and staying in.
Not that you can not use SLA to find entries and exits anywhere unless in a tight range or choppy chop.
But where I went with this was to temporarily consider everything that wasn't at the extremes as chop... which has been interesting to sit with for awhile. While I can apply SLA in between extremes, I sense thinking this way moves me towards being able to eventually trade higher time intervals. And being more comfortable sticking in trades along the way. ...it's an emotional move to comfort with sticking... more than a logical position.
Obviously a lot of what the kid says is to the side of where I want to be. And his other videos become a morass of indicators and such. I'd better go look at you AMT statements again. Thanks.
At the beginning, what Steidlmayer had to say was not much different from what Wyckoff was saying back in the 20s and 30s. But as with anything that has marketing possibilities, MP soon grew into something that went way past esoteric.
As always, keep it simple.
I'll try. I printed out your post #160 hard copy and will see if I can digest it better.
Don't over-salt it and you should be okay.
Separate names with a comma.