AHG - Profitable Strategy for Struggling Traders
- Thread starter Anekdoten
- Start date
- Status
Was nice up to the low 40s.....
Couple of years ago I taught a close friend of mine how I trade and illustrated to him the AHG methodology.
Long story short he has been at it ever since and eventually found out about this journal via another friend. He now uses it the very same principle to trade Forex with very good success.
Here is a copy of his email, some of you might find it useful.
"
I read your journal in the ET forums. Lots of props for maintaining your cool in that place, I always thought of it as Jurassic Park after the beasts escaped.
Sadly, the great majority of them will not put enough effort into it or the discipline monster will derail them after something unexpected happens. Nevertheless, I'm sure it won't be in vain and a few will actually get how this can change their life. The very same way you changed mine.
Perhaps the highs and lows is a bit complicated for them. Why not just tell them to use Trendlines ? You know that's how I do it. Less precise but less confusing and works as well.
Feel free to post this in the jungle, say it's from Tarzan!"
There you go guys, use trendlines instead if it's easier to spot the trend.
Anek
Long story short he has been at it ever since and eventually found out about this journal via another friend. He now uses it the very same principle to trade Forex with very good success.
Here is a copy of his email, some of you might find it useful.
"
I read your journal in the ET forums. Lots of props for maintaining your cool in that place, I always thought of it as Jurassic Park after the beasts escaped.
Sadly, the great majority of them will not put enough effort into it or the discipline monster will derail them after something unexpected happens. Nevertheless, I'm sure it won't be in vain and a few will actually get how this can change their life. The very same way you changed mine.
Perhaps the highs and lows is a bit complicated for them. Why not just tell them to use Trendlines ? You know that's how I do it. Less precise but less confusing and works as well.
Feel free to post this in the jungle, say it's from Tarzan!"
There you go guys, use trendlines instead if it's easier to spot the trend.
Anek
Hi guys,
I haven't read through the whole thread yet (probably never will at this point because of its length). I wanted to say that this is a great thread and an excellent start for those who are struggling. The method outlined is basically what I use day after day. There are several differences though. I use differing levels of tick charts. I also take a bigger picture to microscopic view look at the day and the action.
My process (in raw format) is:
I haven't read through the whole thread yet (probably never will at this point because of its length). I wanted to say that this is a great thread and an excellent start for those who are struggling. The method outlined is basically what I use day after day. There are several differences though. I use differing levels of tick charts. I also take a bigger picture to microscopic view look at the day and the action.
My process (in raw format) is:
- Look at daily. What is it trying to do especially in the current high volatility? Note down major swing levels.
- Look at MP. Are we seeking value? In value? If market is balanced, what does the composite look like? What areas are important? Note down the value areas from yesterday and other areas that are important including naked POC's, uncovered singles, high volume areas, etc.
- Look at a 1000t chart. What is the trend here? Is this in line with the daily trend?
- Look at a 377t and determine which way I will trade within the trend which is within some other trend (fractals).
- Narrow the range down with an 89t to zoom in more to where I want to enter and what I will be "leaning on."
- Watch 13t closely to find the sweet spot as close to my stop as possible and fire away without a second thought.[/list=1]The tick chart sizes or volume chart sizes vary from product to product like the OP said. The ES requires higher tick numbers because it has many more prints than the YM. I use the fib number sequence just for simplicity and will round the bigger numbers (987 = 1000t.... I mean we are not trying to adjust the pitch on the Hubble telescope here). With some time and watching the charts a bit for your particular product, you can figure out what tick or volume bar size works for you. It is all about how much or how little information you would like to see. Different strokes.
The most important parts of all this are: Don't lose sight of the bigger picture, use the higher time frames to make the decision on direction, get as close to your stop as possible, be patient, take breaks, take time off, understand when you are on tilt, forget the money... trade for performance and integrity (checking your P&L after every trade is like keeping a log of which cars are ahead of you or behind you while you are in the middle of a Formula 1 race... it won't be long before your car will end up in the barrier) and keep negativity out of your thought process, your life and trading.
Get all of that together and you will be consistently a winner.
I will try to post a few charts to help some of you put it together the way I see it. Remember, we are all as unique as our fingerprints and not all methods match. I also don't use indicators/oscillators or anything else that comes from the past. I'm only interested in the current price action.
Cheers,
FT71
PS: I'm not here to hijack this thread; just to support the OP in that he is putting the followers of this thread on the right track. I have cut back my involvement in ET, but this thread is worth a contribution. Please do not ask me to go thru the process step by step, this is too time consuming and just isn't effective unless done live and on the hard right edge.
- Status