AHG - Profitable Strategy for Struggling Traders
- Thread starter Anekdoten
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, especially one against the trend.Anek,
Love this thread and wanted to say thanks for all your effort here. I realize it's a ton of work but believe me you're helping out many people here immensely.
I get the impression you consider a consolidation zone as a single unit with respect to the trend. For example if there's an up trend and then consolidation then it's a valid entry to go long when we close above it. All the various HLs and LHs in the "block" of consolidation are grouped into one single swing when it's over . Is that how you see it? Or maybe you only see it like this for low volatility areas of consolidation.
opm8
Love this thread and wanted to say thanks for all your effort here. I realize it's a ton of work but believe me you're helping out many people here immensely.
I get the impression you consider a consolidation zone as a single unit with respect to the trend. For example if there's an up trend and then consolidation then it's a valid entry to go long when we close above it. All the various HLs and LHs in the "block" of consolidation are grouped into one single swing when it's over . Is that how you see it? Or maybe you only see it like this for low volatility areas of consolidation.
opm8
Opm,
If I see tight consolidation and I'm already in a play I will adjust stops based on current support/resistance in relation to current consolidation or perhaps take profits and let it decide as I wait for an outcome.
If I have no position on and the current pattern is consolidation I patiently wait for price to convincingly choose a side and play accordingly.
Many times some very safe and lucrative plays can be found once price makes up its mind.
However, during consolidation the best bet imho is to patiently wait.
Consolidation is not bad at all, the only real evil is the chop.
Anek
If I see tight consolidation and I'm already in a play I will adjust stops based on current support/resistance in relation to current consolidation or perhaps take profits and let it decide as I wait for an outcome.
If I have no position on and the current pattern is consolidation I patiently wait for price to convincingly choose a side and play accordingly.
Many times some very safe and lucrative plays can be found once price makes up its mind.
However, during consolidation the best bet imho is to patiently wait.
Consolidation is not bad at all, the only real evil is the chop.
Anek
Hi Anek, and fellow Traders,
Firstly I would like to thank Anek for taking the time and effort to broaden the horizon of any traders following his thread, secondly to thank the people who also contributed with their often insightful posts. This thread has given me something far more important than money, it's given me time that would otherwise be spent trying to iron out bugs in my then marginal daytrading system that I developed and traded thru 05. Time that can be spent with my family,even if it means doing more work around the home. I currently trade Options on the FTSE100 and have just activated an online account with IB, I was hoping that I might be able to get some pointers regarding some of the charting displays and tools discussed in previous posts. I really don't know for sure what can be achieved on TWS as my previous experience with online trading platforms is restricted to Webiress trading the SPI on the SFE.
I would appreciate any information regarding how to set up Price/Volume bar charts on TWS and also how the number of shares/ Futures contract is calculated. i.e. 500,1500,5000 share charts.
Also I believe there is a technique to colour code the individual bars on a chart according to their category, would this be compatible with TWS and how might it be achieved.
Thirdly, when I try to download some of the attachments my computer tells me that they are led files and that a specific program is required in order to access the information, I would be grateful for any information on how to access these documents.
Any help you could give me would be greatly appreciated.
Best Regards
Johno
Firstly I would like to thank Anek for taking the time and effort to broaden the horizon of any traders following his thread, secondly to thank the people who also contributed with their often insightful posts. This thread has given me something far more important than money, it's given me time that would otherwise be spent trying to iron out bugs in my then marginal daytrading system that I developed and traded thru 05. Time that can be spent with my family,even if it means doing more work around the home. I currently trade Options on the FTSE100 and have just activated an online account with IB, I was hoping that I might be able to get some pointers regarding some of the charting displays and tools discussed in previous posts. I really don't know for sure what can be achieved on TWS as my previous experience with online trading platforms is restricted to Webiress trading the SPI on the SFE.
I would appreciate any information regarding how to set up Price/Volume bar charts on TWS and also how the number of shares/ Futures contract is calculated. i.e. 500,1500,5000 share charts.
Also I believe there is a technique to colour code the individual bars on a chart according to their category, would this be compatible with TWS and how might it be achieved.
Thirdly, when I try to download some of the attachments my computer tells me that they are led files and that a specific program is required in order to access the information, I would be grateful for any information on how to access these documents.
Any help you could give me would be greatly appreciated.
Best Regards
Johno
Here is where I see us, right now. Trend has changed from down to up, but following AHG you have to wait for two (count em) two, higher lows and higher highs. I see a trendline break, and finally 2 higher highs, now looking for a long entry.... right?
......... still waiting. It's tough when the NQ has moved 14.75 pts off the lows before I start looking for a long entry. Up move may be exhausted by now!
......... still waiting. It's tough when the NQ has moved 14.75 pts off the lows before I start looking for a long entry. Up move may be exhausted by now!
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