AHG - Profitable Strategy for Struggling Traders

[Anekdoten]

D,

Ya I simply used the TRO plot with the idea RN presented but with the corrected functions of Tradestation.

Perhaps I was not clear on the previous post. You can use it for entry and targets, as always combined with price action, just don't use it for trend detection because in that respect, price does not lie unless it's a fake.

This technique takes screen time and it's hard for me to present some hard rules. My best suggestion is to use it and study it carefully because it is a very strong predictor.

The one tip I can provide is to examine the amount of times these areas of "complacency" have meaning to the traders. Kind of like the "meet me half way" phrase...., in the end, Fib or not, that's all it really is, a mid point in the battlefield, followed by more midpoints and then some. If you look carefully, most waves got these retracements and ext

Characteristics and peculiarities of price action is how I really see it.

Anek

 

[disciplinetrade]

Thanks Anek. I appreciate it.

Thanks
DisciplineTrader

 

[Anekdoten]

Quote from Avgdownking:

I got to hand it to you Anek I love it when you let us take a look at your trading mind. You got a gift for this. Say, would you be interested in formulating an averaging down version of your trading style? Im serious here, if you are anywhere near the West coast or willing send me a PM. Im also a trend follower but I take different precautions to avoid the chop noise and fakes. Looking forward to your response and keep up the good work, some seriously good trading stuff you teach here.

ADK

ADK,

You got courage, I give you that one bit.
No matter how many times I wipe my butt with the thought of averaging down you come back calmly and convinced that there is still hope, so I admire your tenacity.

Well, here is the problem. You are asking me to go against my money management techniques while modifying my trading method to suit your money management style. Assuming that is correct, let me sip down this cold Stout and see where I can begin....

- Examine the big picture and determine the trend, daily chart comes to mind but not necessarily

....assuming a bullish trend.

- Wait for reversal signals at key support levels once price has retraced from resistance considerably.

....if it fails, and I feel very weird talking about this because it is so unlike me.

- Wait for the next reversal signal at the next key support level, don't just buy it because it is support, because is falling hard for a reason. Again, try to nail the next reversal signal but make sure it happens close to the next major support level and not in between to reduce risk.

....examine Fib retracements/extensions for targets, preferably resistance areas that obliterate the max risk.

- Exit when your target has been reached, your max drawdown number has been reached or a clear change of a trend is evident on the big charts. Lucky for you, the latter is rare.

Even if averaging down I suggest targets exceeding the average size (dollar amount) of the stop, in fact, obliterating them.

Hope it helps and just in case, I pulled this one out of my butt with absolutely no careful examination.

Anek

 

[disciplinetrade]

Anek or anyone, did you try market delta software for finetuning trade entry using AHG?

I am not yet skilled in tapereading, so was trying to see if this tool can be used as an alternative to tapereading to look inside the strong/weak bars.

Thanks
DisciplineTrader

 

[Anekdoten]

D,

No interest in MD

Anek

 

[disciplinetrade]

Thanks Anek. Can you please suggest a good way to learn tapereading skills. I know its tough to attach snapshots( as its dynamic), but any tips to improve tapereading skills.

Time and Sales is like a "pace indicator" or "volume spike indicator" right?

Thanks
DisciplineTrader

 

[Anekdoten]

Quote from disciplinetrade:

Thanks Anek. Can you please suggest a good way to learn tapereading skills. I know its tough to attach snapshots( as its dynamic), but any tips to improve tapereading skills.

Time and Sales is like a "pace indicator" or "volume spike indicator" right?

Thanks
DisciplineTrader

No real science here to just pay close to attention what big volume is doing, at what levels, at market, at bid, at ask and take it from there; especially at critical levels.

Anek

 

[babe714]

Gohst,

Regarding your money management , would your initial stop be 4 ticks same as 1st Target or just 1 tick under initial entry bar ?

At what point do you go to break even ?

Do you simply enter with market orders as soon as the colors match ?

Also did'nt understand what determines aggressive versus non agressive entry .

Thanks for your help .

 

[jashanno]

Indicator Project

Here is an idea for any Easy Language coder that wants to produce something useful for him/herself and the community.

A real time indicator that plots the following on the charts:

-Continuous line plot of HOD

-Continuous line plot of LOD

-Continuous line plot of mid point between HOD and LOD

-Continuous line plot of mid point between mid point and LOD

-Continuous line plot of mid point between mid point and HOD

All dynamic and ever changing as HOD and LOD is obviously taken to new levels.

Extra effort. If price is above any of the 3 middle lines such line should plot green and below red.

Why ? Because due to complacency (bulls and bears meeting half way) you will be amazed at how many times these points are visited by price throughout the day sometimes allowing you to buy or short with very low risk and great results.

Hope someone comes forward and creates it, should be a simple but useful project.

I promise you I'm not wasting your time, combined with my paintbars it's a beautiful powerful tool

....and if no one does it I'll do it but would rather use free time for other things.

Anek

Looks like Anek beat me to making the indicator, but here is the code. I am not very fluent with EasyLanguage so there may be an easier way to change the colors that I am not aware of.

What's the next step? Want to enhance the indicator or try to make a strategy out of it?



variable: HOD(0),
LOD(0),
Mid(0),
LowMid(0),
HighMid(0),
HODColor(green),
LODColor(red),
MidColor(green),
LowMidColor(green),
HighMidColor(green);

HOD = highD(0);
LOD = lowD(0);
Mid = (HOD+LOD)/2;
LowMid = (LOD+Mid)/2;
HighMid = (HOD+Mid)/2;

if close < Mid then begin
MidColor = red;
end
else begin
MidColor = green;
end;

if close < LowMid then begin
LowMidColor = red;
end
else begin
LowMidColor = green;
end;

if close < HighMid then begin
HighMidColor = red;
end
else begin
HighMidColor = green;
end;

Plot1(HOD, "High of Day", HODColor);
Plot2(LOD, "Low of Day", LODColor);
Plot3(Mid, "MidPoint", MidColor);
Plot4(LowMid, "LowMidPoint", LowMidColor);
Plot5(HighMid, "HighMidPoint", HighMidColor);

 

[kidPWRtrader]

Quote from Cxinvest:

ES Today.

~Cx

Just want to say I've read the entire thread and have been trading this way for several days now.

Not the point of my response though...


Cx... huge improvement since your posts in the beginning. Great job. Trendline breaks mean new trends all the time and it comes in all timeframes and you seem to be understanding this really well and able to use candles for confirmation.