AHG - Profitable Strategy for Struggling Traders
- Thread starter Anekdoten
- Start date
- Status
Quote from jimmygold:
If you feel like you are getting over anxious to trade in choppy conditions
or you feel you are getting trigger happy with buy button, then take a break and go watch some funny videos at Youtube or take a jog
Ya overtrading can be a problem, no doubt about it.
It's our money, do we really want to gamble with it ? Hell no, we wait for an opportunity to present itself, just like a predator, and when we see it, we give it our best shot, with a predetermined plan, solid rules and conviction.
Discipline is so important in this business. You could have the best system in the world, but if you can't follow the ruleset you are destined to fail, even with the best tools. In fact, I always list discipline as the most important quality a trader could have.
Anek
Yeah, personally I have found the stairstep pattern to be very useful. Its just how it sounds. Stairs going up(multiple Bullflags) and stairs going down (multiple Bear flags). Sometimes in such a strong uptrend there will not be pullbacks but just these little sideways stairstep movements, then boom we are off again to the races. Think of this movement as running bleachers on a football stadium. You sprint up first couple of steps then you rest and jog a little then boom you sprint up to the higher bleacher steps then pause and rest then boom you keep repeating and going higher and higher etc.etc..etc.. The BIG Boys buying ES or YM cant buy there 5000 cars all at once, they have to buy in periodic loads. So this the reasoning behind the rest and explode movement.
(Note- Just be sure look for low volume in these temporary sideway movements.)
However, I have found the longer the sideways stairstep pattern the more probability for a breakdown. Which is a risk. This is just from my personal experience.
BTW, I am definitely not an expert so please dont take this as written in stone. I have just had alot of success with them in trading equities in last 8 years and in the last 6 months trading futures.
Aneks the one to really keep your ears open to.
I would like some input on what kind of S/R levels you guys use and how. I know Anek has the dynamic indicator and of course double tops/bottoms work great.
But what about calculated floor pivots, previous day/week high/low, intraday major/minor pivots, etc. Do you use these actively for entries and targets? Or just aware of them and if for example a retracement meets a major support level in uptrend, then it is just an extra signal for good entry.
But what about calculated floor pivots, previous day/week high/low, intraday major/minor pivots, etc. Do you use these actively for entries and targets? Or just aware of them and if for example a retracement meets a major support level in uptrend, then it is just an extra signal for good entry.
e
Yeah, me too. I mark the Daily Pivot and S/R levels just as genereal reference points. Not for any entry tools. I have found them to be useless in actual entry points. At best 50/50....JMHO
BTW, Anek you still using that one indicator you had mentioned at the beginning of this thread ?? That being Stoch crossover for entry points on pullbacks for HH HL or pop ups in LH LL ??
Thanks. Anek, what is your opinion on market delta and on using ACV from this thread:
Scalping_My Way with ACV
I have never used tape reading before and I know that would be whole other thread, just want your opinion if you deem it to be a very important skill one should learn.
Scalping_My Way with ACV
I have never used tape reading before and I know that would be whole other thread, just want your opinion if you deem it to be a very important skill one should learn.
- Status