AHG - Profitable Strategy for Struggling Traders

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Anek,
Question on TRENDLINE BREAKS. If you are using a trendline break as a reason to exit a long trade, would you recommend exiting as soon as a bar closes below a trendline, or should you wait for the low of that bar to be taken out by the "magic tick"?
 
This is my focus right now... trend breaks.

For #1... in an uptrend with a higher high and then a break of trend,
I will wait for a retrace to the old trend support which is now resistance.

Although I haven't decided anything about the swing high where resistance is hit
relative to the highest high before the break yet.

Does this ring a good tone?

I do see how if there is a higher low still, the trend is still not broken.

Hmmm.
Never mind?

-Tech


Quote from Anekdoten:

Trendline Breaks

All of this is in the journal but just as a refresh course, the following should help.

This journal has grown too big, lots of info scattered inside which is probably hard to find.

Sample for an uptrend line in jeopardy.

Look out for the following:

1-Was the last high a higher high ?

2-Was the last high a double top ?

3-Was the last high a lower high ?

On top of that you want bars closing below the trendline + 1 tick below the breakdown's bar low, this give you the signal assuming 2 or 3, definitely not 1.

If the case is 1, I would not short it, I will simply wait for the higher low to get back in, regardless of the "TL Break" which in this case it's more like noise since TLs are not infallible. If it does break, then so be it, but coming from a higher high you don't want to short that unless a swing low is created first.

Anek
More...
 
Hi Guys,
do you know how can i get the market line emotion with Ensign software try with pesavento level but it's a little different, so i asked to the software support , they give to me a couple names of they program guys which charged 300 dollar for this...:(

any help!?!

thx
 
For tomorrow can anyone post the pivot levels that their ninjatrader are giving them. I am trying to figure out if it's worth it using these levels due to data uniformity/ability of software to calculate the levels.

Just wondering if I'm looking at something other people are.
 
Hi sacramento343

imo you need to watch the price action on the chart and time and sales if you want to get a feel of where people are entering their trades. After a while you will come to expect a type of action if you are leaning the right way and and when you don't see it it could be a signal to tighen or exit the trade without waiting for your stop to get hit.

I also see you are using QT, try watching price action with the pace indicator it has.(view/show pace) A slow pace can signal chop or a weak movement.

I am still learning also but these are some of the things I have noticed.

PS. the M on the NQ at the end of the day on the NQ was a nice one.

AAA30
 
Quote from Anekdoten:

C and G,

Here is a variation for you two.

Try to see if a channel can be drawn when you see a trend.

Then buy/sell accordingly and short/cover accordingly but only with the predominant trend inside that channel.

Assuming an uptrend channel, exiting when it pulls back is not the right play, that's when you want to get back in and you want to get out before the breakout area to protect your profit, either that or adjust your stop very tightly, your choice.

This is constant scalping within the waves this will get rid of the anxiety and potentially increase your confidence because profits have been secured on previous plays.

This is precisely what a trend scalper does. Of course, as you get the hang of it, you adapt your very own variations to suit your trading personality.

Whatever you decide, make sure your risk vs reward is adequate and that you never ever get greedy and go against the trend. For instance, if an uptrend channel, don't play hero and short the resistance area.

Hope it helps.

Anek

PS: Arnie's suggestion is solid too.
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Anek,
Thanks for the help. I want to make sure I understand you correctly. What I have been doing is Watching a 450 tick chart for my entries. When I see a trend I will wait for a pullback. Once I see the pullback ending by seeing a new bar begin to go in the direction of the trend I get back in and place my stop below or above s/r. For my exits I wait for the previouse bars h/l to be taken out by the new bar, then wait for the whole process to begin again to get back in. Is this what you are saying we should do or am I screwing up. Also wondering about the double top on Thursday morning. You mentioned you saw it but couldn't trade it due to personal trading rules you have. I was wondering if you could comment on that. I'm intested to get your mind on it.

Thanks for all your help in this thread and welcome back
 
Quote from ondaflex:

Hi Guys,
do you know how can i get the market line emotion with Ensign software try with pesavento level but it's a little different, so i asked to the software support , they give to me a couple names of they program guys which charged 300 dollar for this...:(

any help!?!

thx
More...

Tell me what you require and I may be able to code it for you in ensign.

regards
f9
 
Quote from kidPWRtrader:

For tomorrow can anyone post the pivot levels that their ninjatrader are giving them. I am trying to figure out if it's worth it using these levels due to data uniformity/ability of software to calculate the levels.

Just wondering if I'm looking at something other people are.
More...
Hi, this is my first post on ET, Anek you have done a great service here thanks for all of this. I've traded equities for years but just now am considering futures (for daytrading). They have better tax treatment and mark to market makes dealing with the IRS so much easier too. Plus, the leverage is nice. I'll papertrade for 6 months before trying anything live.

Anyway, I'm using NinjaTrader and OpenTick as the papertrade platform. Here is a chart from yesterday's ending action. Nevermind the CCI (I don't use it now) but the ATR is there as a kind of volitility barometer. The pivot points uses the built in "swing" indicator. I annotated postmortem where I thought the entries were that I thought were worth taking on that segment. The confirmed bubble on the left was an exit from a previous uptrend.
 

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