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Mr. Ocean's SLA Journey To Competence
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Mr. Ocean's SLA Journey To Competence

  #31 (permalink)
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Are these the only mean reversion opportunities during this particular timeframe?

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Mr. Ocean's SLA Journey To Competence-screen-shot-2015-07-03-2.51.49-pm-2-.png   Mr. Ocean's SLA Journey To Competence-screen-shot-2015-07-03-2.56.59-pm-2-.png  
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  #32 (permalink)
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DannyOcean View Post
Before I take this 60m stuff any further, I'd like to clarify something first.

My thinking with the original charts I posted in this thread were to find the range, wait for the breakout, and trade the retracement. That just comes easily to me and fits me personally. I love it. I get the action and intentions behind it as explained by AMT. Evidently I was just using too long of an interval.

Could I do this with a 5 or 15min interval like I would the 1min? The 15min is just easier to "see" for me. You suggested at ET that I could use a smaller interval to trade the breakouts and retracements rather than waiting for the 60m breakout and retracement. Waiting for the Weekly extremes seems like a little too much waiting for my liking.

I understood that you wanted to trade a longer interval. You can trade whatever interval you like as all charts are tick charts. Whether you group those ticks into 1m bars or 60m bars or daily bars is up to you. As far as "finding the range" goes, that's fine, but you're skipping the SLA entirely.

I can't know what you want until you decide what you want. If you've decided that you want to daytrade a small interval, I suggest you read my thread in index futures. But whatever you choose, you still have to begin with the weekly and daily charts in order to find out where you are. Otherwise you are more or less making random trades and getting stopped out a lot.

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  #33 (permalink)
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DannyOcean View Post
Are these the only mean reversion opportunities during this particular timeframe?

You're making this so much more difficult than it needs to be. If you don't want to follow the protocol, that's fine, but mean reversions in four-year-old charts aren't pertinent. If you don't want to work with the current trend, that's also fine, but I can't help you with whatever it is you're trying to do.

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  #34 (permalink)
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DbPhoenix View Post
You're making this so much more difficult than it needs to be. If you don't want to follow the protocol, that's fine, but mean reversions in four-year-old charts aren't pertinent. If you don't want to work with the current trend, that's also fine, but I can't help you with whatever it is you're trying to do.

How am I skipping SLA entirely by finding the range? Isn't that the first step?? Find the range, etc...

I'm looking for instances of mean reversions so that I can backtest. How is a mean reversion that occurred in the past not relevant to understanding how to trade mean reversions in real time?? Of course a four-year-old chart isn't pertinent right now, only the current channel is. Again, I get that.....

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  #35 (permalink)
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If you want to trade the SLA as written, begin on p 33. The first step is to determine the context, beginning with the weekly chart. No backtesting is required.

If you want to make modifications, backtesting will be required, so you'll have to begin on p 19, Developing A Plan.

If you want to skip all that and try to trade according to AMT without any preparation, you're going to become very frustrated and probably lose a considerable amount of money.

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  #36 (permalink)
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DbPhoenix View Post
If you want to trade the SLA as written, begin on p 33. The first step is to determine the context, beginning with the weekly chart. No backtesting is required.

If you want to make modifications, backtesting will be required, so you'll have to begin on p 19, Developing A Plan.

If you want to skip all that and try to trade according to AMT without any preparation, you're going to become very frustrated and probably lose a considerable amount of money.

Why do I feel like I come away feeling more confused with every question I ask instead of coming away with more clarity?

Weekly chart context. AKA the pertinent Weekly Channnel at the time. When Weekly Channel extreme is near, apply SLA. WTF am I doing wrong????

Consider if you had written the book in late 2011 and IT IS late 2011. What examples would you give of entering on the 60m to ride out the Weekly mean reversion over the past year or so?? I'm simply looking for examples like the one you posted in Post #19.

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DannyOcean View Post
Why do I feel like I come away feeling more confused with every question I ask instead of coming away with more clarity?

Weekly chart context. AKA the pertinent Weekly Channnel at the time. When Weekly Channel extreme is near, apply SLA. WTF am I doing wrong????

Consider if you had written the book in late 2011 and IT IS late 2011. What examples would you give of entering on the 60m to ride out the Weekly mean reversion over the past year or so?? I'm simply looking for examples like the one you posted in Post #19.

Well, you go back and forth on the questions. If we're back to a 60m interval off a weekly trend channel and you no longer mind the wide stops, then post a weekly trend channel for 2011 along with the daily channel for the same period and an hourly chart for the same period. This would not, however, have anything to do with "riding out" any weekly mean reversions over the past year. The trend now is different than it was four years ago.

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  #38 (permalink)
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DbPhoenix View Post
Well, you go back and forth on the questions. If we're back to a 60m interval off a weekly trend channel and you no longer mind the wide stops, then post a weekly trend channel for 2011 along with the daily channel for the same period and an hourly chart for the same period. This would not, however, have anything to do with "riding out" any weekly mean reversions over the past year. The trend now is different than it was four years ago.

Alright, thanks DB. Sorry for the back and forth. Will post charts tomorrow.

I do have to question what the purpose of the Daily channel is since, with the 60m, I'm supposed to be taking trades off the Weekly extreme.

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  #39 (permalink)
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May U add my 2 cents? Danny Ocean, you need to understand DBP is a teacher-mentor helping a student to learn from self discovery. You are a student, in essence, asking the teacher what is on the test.

You will not see the markets exactly as he sees them...you will not be able to use his eyes and perspective gained from his experience. You will only be able to see the markets through your eyes, your perspective, gained through your experience.

I was introduced to the work of Wyckoff in the mid eighties and have used the principles in a thirty plus year trading career. Though my practice of Wyckoff is similar to DBP, it is unique to me based on my eyes, perspective, and experience. You are on a journey of self discovery. The road map outlined in the sla-amt is as well thought out as I have seen anywhere...and freely given...

Take a deep breath, do the work, enjoy the journey.

Dee

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  #40 (permalink)
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DbPhoenix View Post
Well, you go back and forth on the questions. If we're back to a 60m interval off a weekly trend channel and you no longer mind the wide stops, then post a weekly trend channel for 2011 along with the daily channel for the same period and an hourly chart for the same period. This would not, however, have anything to do with "riding out" any weekly mean reversions over the past year. The trend now is different than it was four years ago.

The first is the Weekly.

Are the others the correct Daily channels?

Attached Thumbnails
Mr. Ocean's SLA Journey To Competence-screen-shot-2015-07-04-2.14.18-pm-2-.png   Mr. Ocean's SLA Journey To Competence-screen-shot-2015-07-04-2.16.04-pm-2-.png   Mr. Ocean's SLA Journey To Competence-screen-shot-2015-07-04-2.16.16-pm-2-.png   Mr. Ocean's SLA Journey To Competence-screen-shot-2015-07-04-2.16.27-pm-2-.png   Mr. Ocean's SLA Journey To Competence-screen-shot-2015-07-04-2.20.35-pm-2-.png  

Last edited by DannyOcean; July 4th, 2015 at 03:24 PM.
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