AHG - Profitable Strategy for Struggling Traders

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Stealth, I also reduce my tics or shares when looking at overnight activity. 10000 shares in ES goes by quickly during the day, while overnight it could take 6 hours. YM especially, overnight volume is so light that the entire evening could be one bar at the day's pace.

I also tend to look at a longer term chart during the day to determine the trend but check a very short term chart to pick an entry. It does appeal to me intuitively to just concentrate on one timeframe for daytrading. I just haven't figured out what that is, so I switch back and forth a bit. :p


And here is a new twist. Should I be looking at yesterday's late high? If so, we are now making lower highs. If I ignore yesterday, then we have a higher high this morning. :confused: (I am over thinking, I know)
 
Quote from GaryN:

Determining the swings is the least subjective aspect imo. Subjectivity comes in on the entries and exits which cannot be helped because they are always a compromise.
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If you look at Anek's charts, you'll see that some pivots are not annotated by the software. That is because of the particular setting that he has chosen (whether it be 3, 4 or 5 bars etc.). That by itself is subjective. And, one trader might view the same uptrend in price with a pullback and lower low of only 1 Tick as just a pause where as another might see it as a LL.

Others may use a change in color thru a momentum indicator to determine their HH, HL, etc.
 
ST,thank you for your priceless contribution to this thread..in one of your previous posts you claim that trading the range in chop is easy money..could you illustrate it with an example? would be nice to see a chart where you handle one of those range bound days..once again thanks and I'm counting on your good mood here :)
 
Anek,

I came across this thread a couple of days ago and have been very impressed with your willingness to help others. I'm in the group of newcomers trying to make sense of futures trading. I'm sure I'll have more questions as I try to become skillful at your seemingly straightforward method.

I've been practicing with mixed success. I'm using timed price data, vs. fixed volume, because that's all I have available using Etrade's platform, TTrader. I know that's a crappy reason to use time-based price data, but until I move to a different platform, what time period do you think would most mimic volume graphs, for the ES? 1 minute charts move very fast and 5 minute charts seem way too slow. Perhaps 3 minute bars?

Also, would appreciate anyone's 2cents on which platform I should look at.

Thanks.
 
Anec

I've brushed off fibs in the past but Ive been looking at it since you brought it up and it does look like a pretty sound method of entry. Can you tell me what kind of stop you use for those times when price blows right through your limit order. When price is moving fast when it gets close to your order do you pull it and try to get a better price?
 
Quote from Stealth Trader:

I'm curious as to why you would want to use different chart settings. The whole purpose of using constant volume is too take out the variables, not add them back. :D Any sound reasoning for your decision? Just asking! :D

st
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It helps me tremendously to be aware of potential massive areas of congestions/breakouts based on meaningful S/R in the multi day charts aka my anchor charts.

Anek
 
Hey Coach...stayed patient, identified the trend, made good trades, took profits, stayed in the 'present'...banked $1244.

Logged off and currently trying to tie myself to my chair...to avoid logging back on and getting reamed on a rash trade.
 
Quote from bmwhendrix:

Anec and Stealth,

I usually start off the day with a bad trade. Do you have certain criteria you look for each day, perhaps not to trade before a certain time, or to wait for an initial high and low to form?

Again thanks,

Don
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Don,

Not me, I see a trend, game on. Even in afterhours, pre-market, you name it.

Just in case, stay out of AH/PRE unless you know what you are dealing with.

Anek
 
Anek, Does Tradestation work ok for you? I know my comp is underpowered, but it freezes up when activity picks up and has been nearly worthless since 215pm. I know ts has issues with this and it is not just me.

GaryN, Anek will answer your question, but I went through the same thing and it appears to me that rather than place a limit order at a fib retracement, waiting for the market to hit that level, it seems that Anek lets the market turn hgiher first, then with the help of stoch crossover enters on the uptic. Is that fair, Anek?
 
Alpine,

It's prob both subjective and objective, that's where skill and experience comes into place.

The pivots plotted by the software are quick areas of reference but not necessarily written in stone as they have fixed parameters that might work for some scenarios and not for others.

I actually use them so my charts look more clear when I posted them here.

You are correct about the undulations, they matter to me. If it helps highs and lows based on FIXED wavelengths are extremely useful especially when using volume bars.

That short was wrong on all levels as specified on the annotations, anticipated it and paid the price.

Anek

Quote from AlpineTrout:

A few questions:

1) I understood from the beginning of the thread, that your defintion of a change in trend from UP to DOWN is (2) LL's and (2) LH's. Is this correct?

2) Are you using any price undulations that are not drawn automatically as a pivot by the software, as a LL or LH ?

3) I'm asking the above, because on that first Short (loss), I only see one LH (according to pivots placed by the software) before you took the Short trade. Please explain.

I think the subjectivity of this methodology lies in the undulations of price and what actually constitutes a HH, HL, LL, & LH. Please tell me if I'm wrong.
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