AHG - Profitable Strategy for Struggling Traders

Status
Not open for further replies.
Quote from Anekdoten:

I find it funny that you tried to decypher the M bottom W puzzle, then commented on the NQ chart yet you did not comment on the rare ass W top formation on the NQ chart you just reviewed :)

Ahuh - another drunk !

:D

Anek
More...

hehe... thanks....

just looked at it again.... the W top is the formation on the current time frame which is mapping out a retracement on a higher time frame trend for continuation in that direction.
 
....sorry... i missed that....
... here is another from 2004 ... which you might consider an M within a larger W
.... the reason why you are interested in them is because you would like to profit from them :) .... that was easy

Quote from Anekdoten:
E,
That's the one I posted as an example earlier this week.
Have not been able to find another one.
Speaking of W tops and M bottoms I will soon post the reason for my interest in them but want to see if anyone figures it out first.
Thanks.
Anek
More...
 

Attachments

Anek. Halfway through the journal. Great stuff. Will be done by late next week (have finals soon so gotta concentrate on te matter at hand). Will start posting paper results a little later than I expected, but excited to reduce my timeframe to a length I think better suits my personality.

Just my humble opinion... screen time is the best thing of course, but for anyone to see some candlestick patterns that actually work and just how to use candlesticks in general( a lot of which anek uses) you can also find them in any of Steve Nison's works.

Not that I know this, but you can find them for free off of most torrent sites.

Good trading, all.
 
Kid,

I have studied candlesticks and as always they provide one more confirmation not a signal.

The ones that do matter to me are:

Hammers at the very end of a downtrend with wicks piercing support

Shooting stars at the very top signaling that bulls got trapped.

Both preferably with good volume.

For instance, say a bar pierces through trendline support and closes as a hammer. I personally prefer to see a tick below the lowest area of the bar that closed before shorting, but regardless of that, would you really short that ? I don't think so, little things like that help.

In time all these little things start adding up and eventually your accuracy increases due to screen time.

I do pay attention to dojis as they mark indecision, particularly at S and R areas and I also study engulfing patterns.

The rest I don't care for.

Anek
 
Quote from elovemer:

....sorry... i missed that....
... here is another from 2004 ... which you might consider an M within a larger W
.... the reason why you are interested in them is because you would like to profit from them :) .... that was easy
More...

Elovemer,

That's an M top, which is fairly common.

However, it breaks my heart because it is a "failed" M top.

Good example of "nothing works all the time", obviously.

Now, the M bottom, great sample, thank you. I collect those rare babies. I got three, keep them coming :D

Maybe the M top failed because the rare ass M bottom said, I'm the king of the hill, move to the side !

Anek :p
 
Anek,

Thanks for posting the BRCM chart. Somewhat confirms what I've been thinking....the constant volume bars seem to smooth out the price action. With Cyber getting transferred over to Schwabb, I may have to think about switching over to TS. Anyhow, you pretty much nailed the trade I took. Here's how I played it......

chili
 

Attachments

Quote from Anekdoten:

Kid,

I have studied candlesticks and as always they provide one more confirmation not a signal.

The ones that do matter to me are:

Hammers at the very end of a downtrend with wicks piercing support

Shooting stars at the very top signaling that bulls got trapped.

Both preferably with good volume.

For instance, say a bar pierces through trendline support and closes as a hammer. I personally prefer to see a tick below the lowest area of the bar that closed before shorting, but regardless of that, would you really short that ? I don't think so, little things like that help.

In time all these little things start adding up and eventually your accuracy increases due to screen time.

I do pay attention to dojis as they mark indecision, particularly at S and R areas and I also study engulfing patterns.

The rest I don't care for.

Anek
More...

Most of the signals that I have seen on your charts were engulfing patterns.

Interesting to see that you keep everything so simple. A mentor that i've had for some time online always yells castigates me when I try to get fancy and overcomplicate things.

I am not at a point in my trading when my results are good enough not to explore any further, though. I am still quite a novice.

It's my nature... but despite my propensity to bounce around, my discipline is pretty good.

Thanks for the thread as usual. I know it's been said before, but this is the most useful thread i've ever read on here... as good as Nihabashi's stuff, which is all price too for the most part. Deadly combo if someone were to understand and apply all the stuff both of you talk about, in my opinion.
 
Kid,

Thanks for the kinds words.

Yes, Nihabashi strikes me as a candlestick expert and his contributions to the forums deserve a round of applause.

Anek
 
Quote from cchili00:

Anek,

Thanks for posting the BRCM chart. Somewhat confirms what I've been thinking....the constant volume bars seem to smooth out the price action. With Cyber getting transferred over to Schwabb, I may have to think about switching over to TS. Anyhow, you pretty much nailed the trade I took. Here's how I played it......

chili
More...

Chili,

Very important, Tradestation is great for charting but it does not present the constant volume bars correctly so make sure you research this before making your decision as I would not want to see you with dissapointment.

Some say Multicharts with a good data fee is a good alternative.

This does not seem to affect me one bit in Tradestation but I thought I should mention it just in case.

I'm sure others can help you in this subject a heck of a lot more than I can.

One more thing, excellent trading on BRCM.

Anek
 
Here is a work in progress where I'm making an effort to catch the calls from a programmatic price action perspective.

This is in the first stages of infancy and there is a lot of work left but even at this stage you can see how anything bigger than a small stop is unnecessary and a waste of money.

At this time it's missing to catch some calls and avoiding a call in the chop it's a whole new algorithm but nevertheless something to illustrate.

The area at 10/05 is a day in transition so obviously nothing to catch there but it's catching about 85% of the moves so far.

Anek
 

Attachments

Status
Not open for further replies.
Back
Top