AHG - Profitable Strategy for Struggling Traders
- Thread starter Anekdoten
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Well in either case, double top or ascending triangle, the market was most likely already in an uptrend leading into the congestion pattern. In which case, the breakout to new highs, preferably with a strong (bright green) bar would signal the continuation of the primary trend.
There is an assumption in my response, that of a pre-existing trend prior to the formation of a consolidation pattern. If this assumption is false, then perhaps you can post a chart example of the pattern your seeing ?
Hey Guys,
I'm doing very well with Anek's system. Perhaps it helps if you take it down
to the most basic levels.
Step A Identify the Trend, Use all the trendlines that you need
Step B Patiently wait for a setup using those strong/weak bars he so kindly provided
Step C Let price action take you out of the trade
Step D Repeat
Just because one entry did not work does not mean the next will not as long as the trend
is intact. Another thing that helps is that the strong/weak bars on major trendlines
are pretty powerful signals. It's crazy but it's hard to lose this way aside from a crazy day of nothing but chop.
Godspeed, Daniel
I'm doing very well with Anek's system. Perhaps it helps if you take it down
to the most basic levels.
Step A Identify the Trend, Use all the trendlines that you need
Step B Patiently wait for a setup using those strong/weak bars he so kindly provided
Step C Let price action take you out of the trade
Step D Repeat
Just because one entry did not work does not mean the next will not as long as the trend
is intact. Another thing that helps is that the strong/weak bars on major trendlines
are pretty powerful signals. It's crazy but it's hard to lose this way aside from a crazy day of nothing but chop.
Godspeed, Daniel
Know your patterns
NQ in the morning was nasty, extremely choppy.
Then it produced a Head and Shoulders that failed almost instantly.
Now, if you recall one of my favorite patterns to trade is not the Head and Shoulder itself but a failed one. God only knows how many bears were trapped on that thing today. Lucky for us, price action can tells us exactly when to get out without taking a massive loss when things don't work out.
This is exactly why winners must be ridden as much as possible because things do fail in trading and absolutely nothing works all the time.
How do we overcome this ?
....by taking only small losses.
Back to my personal matters, just did not want to let this baby go by, they are a work of art.
Anek
NQ in the morning was nasty, extremely choppy.
Then it produced a Head and Shoulders that failed almost instantly.
Now, if you recall one of my favorite patterns to trade is not the Head and Shoulder itself but a failed one. God only knows how many bears were trapped on that thing today. Lucky for us, price action can tells us exactly when to get out without taking a massive loss when things don't work out.
This is exactly why winners must be ridden as much as possible because things do fail in trading and absolutely nothing works all the time.
How do we overcome this ?
....by taking only small losses.
Back to my personal matters, just did not want to let this baby go by, they are a work of art.
Anek
I'm pretty sure I've seen the Tradestation code for the strong/weak bars that Anek uses, but can't seem to find it. If anyone has it handy and can provide it again, I would greatly appreciate it.
Thanks.
Thanks.
Hi, Anek
Not as many as one would think. On a three-minute chart (I don't use cv bars) there was little volume on the bear trap.
Although I have my own approach to trading the NQ (I actually trade the ES more frequently), I do find your journal interesting.
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