AHG - Profitable Strategy for Struggling Traders

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Quote from jack411:

Tech,

I have this noted in my notes/txt file, but I want to confirm - when you see those longer bars, do you generally assume that the move is exhausted, even if it is from the start? Would you stay out or would you try to enter on the retrace? How would you handle the longer bars?
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Hmmmm.
Well, that is a good question.:)
I think it would be logical to wait for a retrace, but for how long do I wait?
In theory, it would be easier to just let them pass on by, and then wait for another setup.
My thoughts are to reduce my trading frequency and be more selective.

How would handle long confirmation bars(as of now)?

-Tech
 
Quote from Techdoodle:

Hmmmm.
Well, that is a good question.:)
I think it would be logical to wait for a retrace, but for how long do I wait?
In theory, it would be easier to just let them pass on by, and then wait for another setup.
My thoughts are to reduce my trading frequency and be more selective.

How would handle long confirmation bars(as of now)?

-Tech
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I think you're right about waiting. I'd like to hear from one of the veterans though. I'm pretty sure Anek says he
waits for a popup - here are the pages he (and you) briefly talked on it:
pages 269,270,271

Here was his original post on p. 269:

"The previous move had extended downside, when that happens it is prudent to wait for a pop up then take the signal."
 
The longbars are dangerous, that's why I use volume and tick bars in the first place, to avoid them.

If I got time tonight I will post an analysis of NQ tonight, it was not an easy day, required major discipline in many areas.

Anek
 
did some "sim" trades today with ES using an adapted version of AHG. had 5 winners, one loser.

i am a little flexible in identifying the trend. mainly looking for higher highs and higher lows (preferable two of them) or 2 consecutive bollinger band touches or a previous trend line breakout. i also watch the middle of the bollinger band (20 MA) to see if it is tapering or flattening out to step back.

my current stop is 2 points. target is 2 points unless resistance is closer in which I go for 0.25 less than than resistance/support.

i wait for reversal before entry. need a close above a previous reversal candle (meaning a white following a dark for a reversal in a uptrend). entry will be a generous 0.25 above the top of the dark candle.

i use a 1 min chart with regular candles (as I use thinkorswim which doesn't support volume bars or tick charts) and volume with 2 wide bollinger band.
 
Here is a chart of the ES5000v from today that I drew up. Today felt choppy all around, but there were some ok shorts. Will probably start writing commentary on the charts again soon, quicker to just draw for now :) :p :) . Feel free to comment, criticize, study...maybe even do a little dance if the chart excites you!

~Cx
 

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Quote from Anekdoten:

The longbars are dangerous, that's why I use volume and tick bars in the first place, to avoid them.

If I got time tonight I will post an analysis of NQ tonight, it was not an easy day, required major discipline in many areas.

Anek
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Anek,

I was talking about longer bars in general. Still using tick and volume bars, just bars that are longer than average. I thought that's what Tech was talking about to. But I could be way off. :confused:

So how do you play them? I remeber seeing you say something about "the move being exhausted" like I was saying a couple posts up. Do you recommend just sitting in the sidelines during those plays?
 
Quote from jack411:

Anek,

I was talking about longer bars in general. Still using tick and volume bars, just bars that are longer than average. I thought that's what Tech was talking about to. But I could be way off. :confused:
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Yes, I understand, I don't like them :)

Anek
 
Quote from Cxinvest:

Here is a chart of the ES5000v from today that I drew up. Today felt choppy all around, but there were some ok shorts. Will probably start writing commentary on the charts again soon, quicker to just draw for now :) :p :) . Feel free to comment, criticize, study...maybe even do a little dance if the chart excites you!

~Cx
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And an NQ1500v since I've been studying it some. Tight stops on them there rectangle range plays FYI.

~Cx
 

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Quote from Anekdoten:

Yes, I understand, I don't like them :)

Anek
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So what in your eyes constitutes a "long bar"? How many points long? Or should it be totally subjective based on the moment? Do you recommend sitting on the sidelines or tightening your stop once you spot one?
 
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