AHG - Profitable Strategy for Struggling Traders

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Quote from Kicking:

Just a word on this if this if it's an index system . Not sure how many trades it takes, and if it's base on charts only, but BEWARE !
Il will say this: TA on intraday charts is pretty much worthless and in the current market forget it . You've got to have something else than TA alone to even have a chance to survive.

Daytrading on TA (S/R, patterns, oscillators have they ever worked as standalone?) is DEAD ! There is nothing there. A couple of years ago yeah you could make money more than 50% of the time if you were really good.

Don't waste your time trading intraday and don't dream about making it as a homebased daytrader. It's the biggest pipe dream/ scam invented by the brokerage industry.
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First, my accountant disagrees with you. :D

Second, I am sorry to hear about your being a failure. (Actually I am not, but if it makes you feel better......)

Third, I believe you are on the wrong thread. The "earth-is'flat" thread is two doors down.


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Quote from TdrDave:

Stealth, I also use ensign, could you please explain what function was used to create the LL,LH,HH,HL notations on the chart. Thank You, Dave.
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Those can be labeled using either pesavento patterns, auto trends, or DYO. A setting between 3-5 works well on the ES.

Note that any labeling of swing highs and lows are going to be delayed AND (very important) the one being formed can change.

These labels are only good for looking back for S/R, not trade entries.
 
Quote from Razor:

Hi Stealth,

Your experience and input is welcome here I am sure, please keep posting and your points are noted regarding getting stuck on one particular emini.....a question I have though....

.....if one is and has been consistently profitable for a while why not trade ES and over time build contract size....why stay at 10 etc ?.....I mean from what I have read one can do 100 - 300 ES contracts a time with 1 tick slippage ? Sounds like a lot of cars but if one is consistently profitable and account is building even with withdrawls why not add contracts over time ?....just a thought, ok I am off now for a couple brews :D
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How many contracts one trades is a personal decision. My belief is to never trade more contracts than your are willing to risk assuming 100% loss. If you are trading 100 contracts on $500 margin each, and your internet goes down or the computer crashes, and the market goes against you, and it will, Murphy's law gurantees it..........can you take the hit?

Do the math on how much leverage you are using on 300 contracts. I understand that everything is relative in theory, but trading huge size becomes more difficult from both a psychological and a money management issue. Compounding is the road to riches, diversifying is the path to keeping those riches.

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Quote from bmwhendrix:

Stealth, your comment on Anec is right on. I have played around for about 20 years with trading as a hobby. Now becoming serious, and I fully appreciate the what Anec is doing. Very rare indeed.

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I've learned that 99% of the people are too willing to follow some self-proclaimed guru who either failed as a trader and now provides "guidance", designed some wiggly line on a chart and then wrote a book about it, or both. Anything other than price IMO is nothing more than voodoo. Anek is one of very few that seems to grasp that simple, yet powerful, concept.

I rarely, if ever become involved in these journal threads, simply because of the nonsense everyone wishes to cling to. Thinking logically seems to have gone by the way side, and I find myself having little patience with these voodoo chasers. Anek has chosen to share a solid approach to trading, and he should be commended for it. Few understand what he is perfecting, and even fewer share that knowledge once they discover it.

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Quote from bmwhendrix:

Stealth, It appears you must be using about a 200 tick chart or minute equivalent. At least that is what is seems to be on my IB data feed which is not true tick. And given that time frame it looks like stops might be up to 30 points. Is that about right?
But with runs like that last short, who cares!. Thanks for posting.
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The 10k cv chart is simular in nature to a 250 tick IB data chart.

My hard emergency stops for the ES placed with entry order is three points. Stop is then immediately set two ticks above/below high/low bar of swing point entered in normal market conditions.

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Stealth,

When you take a Short and you're waiting for that next HH - HL combination to take you out of the trade, don't you get chopped up on small range days of say 7 - 10 pts.?
 
Quote from AlpineTrout:

Stealth,

When you take a Short and you're waiting for that next HH - HL combination to take you out of the trade, don't you get chopped up on small range days of say 7 - 10 pts.?
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Once I realize we are in chop, shown by first conflicting swing, I then trade the range until that range is broken. Those are easy money trades with close stops. Personally, I like range bound days because of the excellent risk/reward factor and the fact that once the range is broken, the resulting move is typically a large one. I thought I posted this earlier, perhaps it was in another thread. If not, my apologies for not being more clear.

st

In edit, two 2 tick stop outs this morning and one 4 point win. Very bearish looking at this point in time, but sitting on support.
 
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