so what happens when you trade the ACD by the book? You lose?
ACD Discussion Forum
- Thread starter Handle
- Start date
That was certainly true.
The previous time this happened ws at the end of January and beginning of February when the trend changed from down to up.
My musings here are just that. I have chosen to make them in a public forum in the hopes of encouraging some constructive debate on this subject. I know that by doing this I will also attract some non-contributory comments. That is to be expected.
My price levels etc are purely indicative, and may be wrong. I do not encourage anybody to trade directly off this information.
The 14 day pivot was taken out decisively yesterday, but while we are still above the bottom of the 30 day pivot range, the trend is still up and we should be looking to go long.
The top of the 14 day pivot range today is 1.9133 and longs above there would be in the direction of the trend.
However, if the market takes out the bottom of the 30 day range at 1.8914 the trend would change to down.
The 1.8914 level is very important as it coincides with the bottom of the 50 day range as well.
The top of the 14 day pivot range today is 1.9133 and longs above there would be in the direction of the trend.
However, if the market takes out the bottom of the 30 day range at 1.8914 the trend would change to down.
The 1.8914 level is very important as it coincides with the bottom of the 50 day range as well.
Quote from Schaefer:
Hi Handle, just ordered the book last week. Hopefully, I'd be able to join you on the discussions soon. But I don't know much about anything and trying to trade the equities at the moment.
Good luck tomorrow
Read the book and understand it. But the method is only ok; there are many false signals.
Make SURE you watch the seminars online at the NYMEX website. He follows his system, but it is not a system with hard rules; he is simply a great trader and uses much discretion using his abilities. His understanding and information availability (much of which is not available to many of us) is his real edge. ACD is simply his "point of reference"
Quote from Schaefer:
Hi Handle, just ordered the book last week. Hopefully, I'd be able to join you on the discussions soon. But I don't know much about anything and trying to trade the equities at the moment.
Good luck tomorrow
Thats great. Look forward to some company.
Bear in mind that what I am posting here is only a part of ACD. I am trying to establish if one can trade profitably on a longer term time frame using only the 14 and 30 day pivot ranges.
I am posting a daily journal of short term ACD here:
http://www.discussfx.com/forums/showthread.php?p=91#post91
and I used to post at Moneytec before i lost respect for them. There is some useful information here:
http://www.moneytec.com/forums/showthread.php?t=11961
It is also important to note that Mark Fisher trades many instruments looking for ideal set ups, while I am only trading cable. So my edge is less than his. This may prove to be a mistake, but I do not wish to track hundreds of instruments.
Please also note that I am not trading ACD "by the book" as someone else mentioned, but my adaptation.
In fact he encourages you to adapt it to your personality, which is why it is such a good "system" - it gives you an excellent framework.
Good luck.
I have not been following your thread, but it sounds like you've got a good grasp on what the system is and isn't. Far too many people get a book like this and expect it to be a "turn-key" system. In fact, it never happens that way.
This system, as I said before, is nothing special if taken verbatim from the book. But if you understand the fundamentals and have a good understanding of the limitations of the system, I think it is a great framework. It gives you an idea of when to enter at a minimal risk point. That is the real value of the system
Good luck to you.