A simple price action approach

Quote from mfbreakout:

I have been trading full time for 3 years. Became profitable 6 months ago. After trying many trading styles, Mark Fisher ACD system turned out to be life saver for me due to it's simplicity and effectiveness....
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mfbreakout

perhaps, i should on the outset disavowed any connection with you or your acclaimed acd system, ok? i just read about what you tried to claim here and became mighty curious about what you claimed.... thus the request for a demo on sim or live ON ELITE TRADER here, whichever is convenient for you or the system developer, manager or proprietor....

whether you or other would agree to put up a demo for all of us traders or not, on coming monday, i would like you to know that i personally and as a trader, disagree with one if not more, important premises set forth in the acd system you acclaimed.... and that is, as follows:
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Statistically significant
The ACD methodology is based upon the premise that the opening range of each day�s trading session is statistically significant. In layman�s terms, this means that the opening range is not like all the other 5- or 10-minute intervals of the trading day. Rather, the opening range is the statistically significant part of the trading day, marking the high or low for the day (in volatile markets) about 20 percent of the time. This concept directly refutes the random walk theory
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as a trader, where the market opens, depends on too many factors to be possibly characterized and identified.... to be useful in any trading formula....

since traders have no control over the price movement at the opening, at noon or after lunch time which incidentally differs all over the globe....

why would any trader or proprietor of any system would want to tell their novice followers that, the opening is statistically significant....

statistically significant at what level....? at 50% level of confidence....? maybe....? maybe not....? tossing an unbiased coin would also practically render a 50/50 chance happening as well....

in many of the vegas gaming tables or in reno, bettors have about 47% chance of winning plus free meals and drinks.... and most bettors lost even at those high favorable percentage....

and am waiting to be proved dead wrong on the coming monday, if acd itself or its rep would take up the offer to show us a thing or two about its acclaimed system, especially when acclaimed by one of our trading community members, mfbreakout.

well.... til then.... fellow traders.... have a great and safe wkend everyone.... :p

i love all those honest trading teachers who try to help other learners to trade better at a reasonable fee.... but there are very few in existence.... do you know one to recommend....?

we can practically forget all those who want to teach.... but who is also more zealous to sell whatever.... on top of whatever.... :cool:
 
Channel trading is great, the problem begins when the trader gets infatuated by daytrading and scalping and begins using them in noisy timeframes.

Sure once in a while they work great in a 1 min chart but that's the exception.

Stick to the hourly chart as an absolute minimum.

What makes channels work is a strong trend. Noisy charts don't got strong trends that's why they are commonly referred to as noisy.

FoN
 
Quote from FreakofNature:



What makes channels work is a strong trend.
FoN
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aaahahahahahaahahahahahahahahahaah

my ass is offffffffffffffff....................
 
Quote from mfbreakout:

I have been trading full time for 3 years. Became profitable 6 months ago. After trying many trading styles, Mark Fisher ACD system turned out to be life saver for me due to it's simplicity and effectiveness. I have not found a better system to determine bias for he day , especially for trending days. Following is a link which talks briefly about ACD system

http://www.... [/B][/QUOTE] in...is no sin in not accepting this challenge, K?
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Quote from FreakofNature:

Laugh all you want, it only shows your ignorance.

FoN
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maaan..just listen to yourself.''channels work good on a STRONG TREND''.isn`t it funny?

stop delude yourself asap!
 
channels a huge part of the methodology i follow , i must add that its not quite all thats required . trading price action is something that takes thousands of hours of screen time to get a real handle on so for those looking for some sort of holy grail its unlikely that the skillset to do this will come before blowing up one or more accounts .

getting a mentor will/can reduce the time needed for proficiency , something i can only strongly suggest new traders try and find . i was lucky to have some help in this department but it took me a long time to learn the humility and rid myself of enough ego to get the epiphany moment

channels with some range analysis , throw in structure recognition with a method of defining trend in multiple time frames and your on your way . higher/lower swing lows/highs can help in trend definition . identifying value entry at price extremes is a huge part of it for me , all part of defining and reducing risk

pretty simple hey for trading is purely defining probability whilst managing possibility


get to it ....................... ;-)
 
Quote from brisvegas:

channels a huge part of the methodology i follow , i must add that its not quite all thats required . trading price action is something that takes thousands of hours of screen time to get a real handle on so for those looking for some sort of holy grail its unlikely that the skillset to do this will come before blowing up one or more accounts .

getting a mentor will/can reduce the time needed for proficiency , something i can only strongly suggest new traders try and find . i was lucky to have some help in this department but it took me a long time to learn the humility and rid myself of enough ego to get the epiphany moment

channels with some range analysis , throw in structure recognition with a method of defining trend in multiple time frames and your on your way . higher/lower swing lows/highs can help in trend definition . identifying value entry at price extremes is a huge part of it for me , all part of defining and reducing risk

pretty simple hey for trading is purely defining probability whilst managing possibility


get to it ....................... ;-)
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just one further salient point , i spend half my time waiting for entry so that makes PATIENCE the most desired ability in my methodology , something overlooked on almost every trade thread ive ever read
 
Quote from brisvegas:

channels a huge part of the methodology i follow , i must add that its not quite all thats required . trading price action is something that takes thousands of hours of screen time to get a real handle on so for those looking for some sort of holy grail its unlikely that the skillset to do this will come before blowing up one or more accounts .

getting a mentor will/can reduce the time needed for proficiency , something i can only strongly suggest new traders try and find . i was lucky to have some help in this department but it took me a long time to learn the humility and rid myself of enough ego to get the epiphany moment

channels with some range analysis , throw in structure recognition with a method of defining trend in multiple time frames and your on your way . higher/lower swing lows/highs can help in trend definition . identifying value entry at price extremes is a huge part of it for me , all part of defining and reducing risk

pretty simple hey for trading is purely defining probability whilst managing possibility


get to it ....................... ;-)
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It's funny how often I see traders get so close to a major breakthrough and then, just when I think they are about to make it, they shoot off on a tangent instead taking that evolutionary step forward.

There are so many clues in this post but each of them requires intense effort on your own or considerable effort with a mentor. So many clues... and regarding the follow up post, no trade is a trade/ Learning how to wait for your best moment is a high level skill.
 
Quote from FreakofNature:Noisy charts don't got strong trends that's why they are commonly referred to as noisy.[/B]
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If a transaction occurs in the market, it's part of the whole, and part of the information the market generates. What you call "noise" is simply a subset of the larger picture. All you need to do is zoom out.
 
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