AHG - Profitable Strategy for Struggling Traders

Status
Not open for further replies.
Quote from Anekdoten:

Best days, best setups

Here is an idea that might or might not help.

Today the market had a clear sense of direction as opposed to days where it has no idea where it wants to go.

Same thing happened last Thursday and Friday. These days are fairly easy to trade, when you can't tell for sure what's the predominant trend, just stay on the sidelines until your skill level increases with time.

Like it has been said in the past, sometimes the best trade is no trade.

Remember, you don't have to trade every day to have a great month.

Patience is a valuable asset in trading not only to wait for the best setups but for the best days.

Anek
More...

Anek, Good words to remember for sure. I am having difficulty determining what is considered a pullback o r pop up. Do you usually look for something more significant than a couple bars or will you sometimes take that. I am wondering if I am analyzing every tick to much and should be focusing more on a little bigger picture.

Any advice is much appreciated. Thank you in advance
 
...just wanted to offer a few thoughts on this idea of pure charts, ect. Please keep in mind, it is not my intent to provoke or offend anyone here...

Last week we talked about the frustration of trying to trade a trend following system during trendless chop. I pointed out that discerning chop in real time is often a pretty tough nut to crack. Today we are seeing a lot of talk about the frustration of using an intra-day trend following system on a nice strong trend day and not profiting from the trend.

It is my thought here that it can help the learning process for those new to the study of price action to have visual que's on the chart as a point of reference as price structure develops during the trading session. For example, the little HH, LL notations on the chart that Anek first introduced back at the beginning of the Journal. Nice simple, objective and consistent notations that any skill level of trader with a little discipline of method can follow along with in real-time. Anek's new technique of these dynamic 50% retracement lines provide a similar consistent visual reminder of the trend direction, or lack thereof.

For example, looking at Anek's NQ chart from this morning as price was riding the red line down, the bright red bars pushing that red line lower, and where the shallow bounces were not able to get above the first line of resistance, above the 25% level, it was reasonably safe to conclude in real-time the overall flow of trading this morning was moving in one direction. The first meaningful pause in the trend, the bear flag that formed during lunch, tried 3 times and was also unable to break through Anek's first line of resistance. Honestly, this is really typical price action on a trend day.

Another suggestion for those starting out is to be consistent in your approach. If these visual que's of price action help the learning process, then you should pick one and use it. The goal here is to be saying "well yeah thats a down trend", but you eventually want to get to the right edge of the screen, so your saying it while its happening, not at the end of the day looking back. Trading is largely a process of gaining experience with the typical price action we see most day's. Using a consistent approach or perspective (these visual que's) helps, because you start recognizing the same things setup day after day.

Anek has quietly mentioned this point, but I sense it's not being recognized with the importance it deserves so I want to emphasize it here once again... If you don't understand clearly what is happening, the best thing to do is stay out until things become very clear. For those getting started with AHG, begin by looking for the really obvious trades, the no brainer's (which this morning was). This takes patience, to sit quietly and wait, but patience is an essential skill in trading.

Anyways, in reading the comments and studying the charts being posted, I can't help but wonder if some folks are struggling with selling fresh lows.... selling the close of that first bright red bar as price breaks for the red line ? I honestly suspect this may be one source of some of today's frustrations. Unfortunately, visual que's on the chart will probably not resolve this issue.
 
Thanks Anek for the "Marketemotion" idea. These 50% and 25% mid lines seem to act as powerful guideline reference levels.

Thanks Jashanno for coding it for Tradestation.

Also thanks JtraderK8 for Ninja coding and making the colors as user input. I just loaded it in Ninja.

I appreciate it.

Thanks
DisciplineTrader
 
What do you look for if there is a steady uptrend, and then a reaction takes out a swing low?

Do you still look to buy the next strong up bar, or do you wait and see if congestion or a downtrend is beginning?

It seems like breaking a swing low is a weak move, but technically you would still be in an uptrend since that is just 1 lower low.
 

Attachments

Quote from rverheyen:

As requested, my papertrades for today.

9 trades, 1 winner as noted on the chart.

All comments are welcome (sorry for the big chart).

http://images.sierrachart.com/upload_2/1192475302_70_UploadImage.png
More...

Quote from Anekdoten:

R,

Where did you get those penis looking arrows from ? :D

Anek
More...

Ok, not all comments... Next time I'll use a smaller chart and different arrows.

I got a lot of information from other peoples charts. But still looking for some answers why I took the wrong entries. At the time, they all looked valid...
 
Any guidance how I can put fib lines in QT?I have tried but cant find. Thanks

QT probably supports paint bars but I donot know how to use them . Some help there also much appreciated.
 
Here's the "Marketemotion" indicator in Ensign

You can change the colors to whatever you like but I like these.

opm8
More...

Hey, that is sweet! I will have to try that out. I use Ensign to practice on and was kind of bummed I wouldn't get to use the indicator.

Thanks!

Jashanno,

Thank you for the download. I used it with tradestation and it came up under my charts. Did I do something wrong? How do I get it on my charts like shown in some of the example? Thank you in advance.
More...

c.profitt,

I am at work so I am trying to do this from memory so bare with me..... if you right click on the chart you can click on analysis techniques and you can bring up all of your indicators that are on that chart. If you click on the Market-E-Motion indicator it will enable a properties button on the right side of the window. After you click on that there will be a new window that pops up. Click on the far right tab(i think) and there should be a drop down that says "Sub Graph 2" (or 3 or 4). Change this to "Sub Graph 1". Also, there is another dropdown that will say "Left Axis" or "Right Axis". Change this drop down to "Same as Underlying Symbol." If you do not change this then the indicator will not be proportional to the chart and it will be a little screwed up.

I am sure there is a way to put this in the code, but like I said before I don't really know anything about EasyLanguage. I will try to figure it out tonight. If anyone has a manual they could send me that would help.

Also, If anyone wants me to change the lines to inputs so that they can change the colors then I will do so. I thought I did a good job with my color selection.... I won't take it too personally. :D
 
Status
Not open for further replies.
Back
Top