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AHG - Profitable Strategy for Struggling Traders
- Thread starter Anekdoten
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Anek,
Can you label where your entries were? Today, I took most of the DBs on NQ on the way up but got stopped out. I was using a 1000V on NQ.
Here are my entries. All longs.
1. 1142 EST @ 2204.5 -1.5
2. 1212 EST @ 2214.25 BE
3. 1230 EST @ 2217.25 BE
4. 1243 EST @ 2221.25 -1.5
They all seemed to work in hindsight but maybe got unlucky. Kinda frustrating. Stopped trading as I felt i was getting emotional.
thanks
Jtrader
Can you label where your entries were? Today, I took most of the DBs on NQ on the way up but got stopped out. I was using a 1000V on NQ.
Here are my entries. All longs.
1. 1142 EST @ 2204.5 -1.5
2. 1212 EST @ 2214.25 BE
3. 1230 EST @ 2217.25 BE
4. 1243 EST @ 2221.25 -1.5
They all seemed to work in hindsight but maybe got unlucky. Kinda frustrating. Stopped trading as I felt i was getting emotional.
thanks
Jtrader
Anek,
Congrats on the excellent trades !
In the morning near market open, short on the Double Top worked well. Do DT's which form in overnight session(sometimes lot of hours between 2 tops in the overnight DT's) are also reliable?
What are the horizontal lines you marked on the bigger chart (15000 vol chart) you posted ? Are they like S/R levels you marked with price swing action or are they from something like Market E Motion on bigger chart ( not sure if MarketEMotion works on bigger chart).
Also on 5000 vol. chart, today's price action looks like a big dragon pattern( I hope I got it correctly), is it correct?
Thanks
DT
Congrats on the excellent trades !
In the morning near market open, short on the Double Top worked well. Do DT's which form in overnight session(sometimes lot of hours between 2 tops in the overnight DT's) are also reliable?
What are the horizontal lines you marked on the bigger chart (15000 vol chart) you posted ? Are they like S/R levels you marked with price swing action or are they from something like Market E Motion on bigger chart ( not sure if MarketEMotion works on bigger chart).
Also on 5000 vol. chart, today's price action looks like a big dragon pattern( I hope I got it correctly), is it correct?
Thanks
DT
NQ Analysis for 11.02.07
Had an amazing day with only two losses, a minimal one in NQ trying to catch the falling knife without confirmation like a rookie and the same play on ES were I gave up 2 points for lack of discipline and thinking I am omnipotent to call a bottom in a strong downtrend, a foolish thing to do.
The good news is the winners were in the double digits and one incredible home run that made my day shine. Couple of averaging up plays on retracements during strong trend that elevated profits a bit.
Needless to say, I will try to learn from the two dumb mistakes so I can further improve my trading. Trading is a learning process that never ends.
Once again, NQ continues to reward me very nicely and days like this confirm that I'm in the right instrument doing the right things.
Have a great weekend everyone.
Anek
Had an amazing day with only two losses, a minimal one in NQ trying to catch the falling knife without confirmation like a rookie and the same play on ES were I gave up 2 points for lack of discipline and thinking I am omnipotent to call a bottom in a strong downtrend, a foolish thing to do.
The good news is the winners were in the double digits and one incredible home run that made my day shine. Couple of averaging up plays on retracements during strong trend that elevated profits a bit.
Needless to say, I will try to learn from the two dumb mistakes so I can further improve my trading. Trading is a learning process that never ends.
Once again, NQ continues to reward me very nicely and days like this confirm that I'm in the right instrument doing the right things.
Have a great weekend everyone.
Anek
Attachments
A. On your last 2 shorts and last long trade, were you entering on a trendline hit?
Quote from disciplinetrade:
Anek,
Congrats on the excellent trades !
In the morning near market open, short on the Double Top worked well. Do DT's which form in overnight session(sometimes lot of hours between 2 tops in the overnight DT's) are also reliable?
What are the horizontal lines you marked on the bigger chart (15000 vol chart) you posted ? Are they like S/R levels you marked with price swing action or are they from something like Market E Motion on bigger chart ( not sure if MarketEMotion works on bigger chart).
Also on 5000 vol. chart, today's price action looks like a big dragon pattern( I hope I got it correctly), is it correct?
Thanks
DT
D,
Over night session formation in the big charts count for charts, sure. I do pay attention to them. In fact, some afterhours can be very very trendy, panic or euphoria, however don't necessarily expect this to follow after the open. In fact, many gap ups during afterhours tend to visit the daily pivot frequently if the pivot is below the opening price and above the gap fill area.
The horizontal lines on the big charts was Fibonacci analysis. NQ LOD was exactly the 50% retracement from multi chart high to multi chart low. Once again, the power of 50%, Fibonacci at this point is just a habit, in the end, it's the 50% that is so powerful, that complacency level between bears and bulls that I speak of so frequently. This is exactly why Market Emotion is one of the few indicators I use for trading, notice how it is predictive, instead of lagging.
I just remember I need to send the ELD to an ET trader who requested it via email.
Hope this helps, and keep the faith.
Anek
Quote from bmwhendrix:
A. On your last 2 shorts and last long trade, were you entering on a trendline hit?
Absolutely, small risk great reward as long as you do it with the channels' trend.
Notice that after 2-3 waves the odds of working will decrease exponentially.
Needless to say the risk is so small, no real harm done when the trend reverses.
Anek
Thanks Anek. I appreciate it.
The 50% Fibonacci is as you said very powerful and as you pointed, its amazing how today's LOD ended up at 50% of the multiday big swing.
Have a nice weekend everyone !
Thanks
DT
The 50% Fibonacci is as you said very powerful and as you pointed, its amazing how today's LOD ended up at 50% of the multiday big swing.
Have a nice weekend everyone !
Thanks
DT
Linear Regression Envelope
Works on TS and Multicharts
Quite useful for spotting channels automatically without the need to draw the lines manually.
Code attached:
inputs:
Length( 100),
EndDate_YYMMDD( 0), { 0 or YYMMDD, constant; if EndDate_YYMMDD = 0,
EndTime_HHMM ignored and last bar on chart used }
EndTime_HHMM( 0), { 0 or HHMM, constant; EndTime_HHMM ignored if 0 }
ExtRight(true) ,
Linewidth(0),
Linestyle(3),
NumDevs(2);
variables:
EndDate( iff( EndDate_YYMMDD < 500000, EndDate_YYMMDD + 1000000,
EndDate_YYMMDD ) ),
LRV( 0 ),
LRVAgo( 0 ),
TLLRV( 0 ),
TLLRVHI(0),
TLLRVLO(0),
StdErrEnv(0),
CumStdErr(0),
AvgStdErr(0),
EnvWidth(0),
Flag( 0 ) ;
StdErrEnv=NumDevs*StdError(C,Length);
CumStdErr=CumStdErr + StdErrEnv;
AvgStdErr=CumStdErr/Barnumber;
if Flag = 0 then
{ Insert a lin reg line for the first time and set it's color and extents }
begin
if EndDate = 1000000 and LastBarOnChart then
begin
LRV = LinearRegValue( C, Length, 0 ) ;
LRVAgo = LinearRegValue( C, Length, Length - 1 ) ;
TLLRV = TL_New( Date[ Length - 1 ], Time[ Length - 1 ], LRVAgo, Date, Time, LRV ) ;
TLLRVHI = TL_New(Date[Length - 1], Time[Length-1],LRVAgo+IFF(StdErrEnv<AvgStdErr,StdErrEnv,AvgStdErr),Date,Time,LRV+IFF(StdErrEnv<AvgStdErr,StdErrEnv,AvgStdErr));
TLLRVLO = TL_New(Date[Length - 1], Time[Length-1],LRVAgo-IFF(StdErrEnv<AvgStdErr,StdErrEnv,AvgStdErr),Date,Time,LRV-IFF(StdErrEnv<AvgStdErr,StdErrEnv,AvgStdErr));
Flag = 1 ;
end
else if Date = EndDate and ( Time = EndTime_HHMM or EndTime_HHMM = 0 ) then
begin
LRV = LinearRegValue( C, Length, 0 ) ;
LRVAgo = LinearRegValue( C, Length, Length - 1 ) ;
TLLRV = TL_New( Date[ Length - 1 ], Time[ Length - 1 ], LRVAgo, Date, Time, LRV ) ;
TLLRVHI = TL_New(Date[Length - 1], Time[Length-1],LRVAgo+IFF(StdErrEnv<AvgStdErr,StdErrEnv,AvgStdErr),Date,Time,LRV+IFF(StdErrEnv<AvgStdErr,StdErrEnv,AvgStdErr));
TLLRVLO = TL_New(Date[Length - 1], Time[Length-1],LRVAgo-IFF(StdErrEnv<AvgStdErr,StdErrEnv,AvgStdErr),Date,Time,LRV-IFF(StdErrEnv<AvgStdErr,StdErrEnv,AvgStdErr));
Flag = 2 ;
end ;
if Flag = 1 or Flag = 2 then
begin
if Length <= 50 then TL_SetColor( TLLRV, Red ) ;
if Length > 50 and Length <=100 then TL_SetColor( TLLRV, Green);
if Length > 100 and Length <=200 then TL_SetColor(TLLRV, Cyan);
if Length > 200 and Length <=400 then TL_SetColor(TLLRV, BLUE);
if Length > 400 and Length <=800 then TL_SetColor(TLLRV, Yellow);
if Length > 800 then TL_SetColor(TLLRV, White);
TL_SetColor( TLLRVHI, Green );
TL_SetColor( TLLRVLO, Red );
TL_SetSize(TLLRV, Linewidth);
TL_SetSize(TLLRVHI, Linewidth);
TL_SetSize(TLLRVLO, Linewidth);
TL_SetStyle(TLLRVHI, Linestyle);
TL_SetStyle(TLLRVLO, Linestyle);
TL_SetExtLeft( TLLRV, false ) ;
TL_SetExtLeft( TLLRVHI, false );
TL_SetExtLeft( TLLRVLO, false );
if ExtRight then
begin
TL_SetExtRight( TLLRV, true );
TL_SetExtRight( TLLRVHI, true );
TL_SetExtRight( TLLRVLO, true );
end
else begin
TL_SetExtRight( TLLRV, false ) ;
TL_SetExtRight( TLLRVHI, false ) ;
TL_SetExtRight( TLLRVLO, false ) ;
end;
end;
end
else if Flag = 1 then
{ Reset the end-points of the flag-1 LRLine at each new bar after it has been drawn
for the first time; this effectively results in a new LRLine each time. }
begin
LRV = LinearRegValue( C, Length, 0 ) ;
LRVAgo = LinearRegValue( C, Length, Length - 1 ) ;
TL_SetBegin( TLLRV, Date[ Length - 1 ], Time[ Length - 1 ], LRVAgo ) ;
TL_SetBegin( TLLRVHI, Date[ Length - 1 ], Time[ Length - 1 ], LRVAgo+IFF(StdErrEnv<AvgStdErr,StdErrEnv,AvgStdErr) ) ;
TL_SetBegin( TLLRVLO, Date[ Length - 1 ], Time[ Length - 1 ], LRVAgo-IFF(StdErrEnv<AvgStdErr,StdErrEnv,AvgStdErr) ) ;
TL_SetEnd( TLLRV, Date, Time, LRV ) ;
TL_SetEnd( TLLRVHI, Date, Time, LRV+IFF(StdErrEnv<AvgStdErr,StdErrEnv,AvgStdErr) ) ;
TL_SetEnd( TLLRVLO, Date, Time, LRV-IFF(StdErrEnv<AvgStdErr,StdErrEnv,AvgStdErr) ) ;
end ;
Screenshot of the ulitity attached
Anek
Works on TS and Multicharts
Quite useful for spotting channels automatically without the need to draw the lines manually.
Code attached:
inputs:
Length( 100),
EndDate_YYMMDD( 0), { 0 or YYMMDD, constant; if EndDate_YYMMDD = 0,
EndTime_HHMM ignored and last bar on chart used }
EndTime_HHMM( 0), { 0 or HHMM, constant; EndTime_HHMM ignored if 0 }
ExtRight(true) ,
Linewidth(0),
Linestyle(3),
NumDevs(2);
variables:
EndDate( iff( EndDate_YYMMDD < 500000, EndDate_YYMMDD + 1000000,
EndDate_YYMMDD ) ),
LRV( 0 ),
LRVAgo( 0 ),
TLLRV( 0 ),
TLLRVHI(0),
TLLRVLO(0),
StdErrEnv(0),
CumStdErr(0),
AvgStdErr(0),
EnvWidth(0),
Flag( 0 ) ;
StdErrEnv=NumDevs*StdError(C,Length);
CumStdErr=CumStdErr + StdErrEnv;
AvgStdErr=CumStdErr/Barnumber;
if Flag = 0 then
{ Insert a lin reg line for the first time and set it's color and extents }
begin
if EndDate = 1000000 and LastBarOnChart then
begin
LRV = LinearRegValue( C, Length, 0 ) ;
LRVAgo = LinearRegValue( C, Length, Length - 1 ) ;
TLLRV = TL_New( Date[ Length - 1 ], Time[ Length - 1 ], LRVAgo, Date, Time, LRV ) ;
TLLRVHI = TL_New(Date[Length - 1], Time[Length-1],LRVAgo+IFF(StdErrEnv<AvgStdErr,StdErrEnv,AvgStdErr),Date,Time,LRV+IFF(StdErrEnv<AvgStdErr,StdErrEnv,AvgStdErr));
TLLRVLO = TL_New(Date[Length - 1], Time[Length-1],LRVAgo-IFF(StdErrEnv<AvgStdErr,StdErrEnv,AvgStdErr),Date,Time,LRV-IFF(StdErrEnv<AvgStdErr,StdErrEnv,AvgStdErr));
Flag = 1 ;
end
else if Date = EndDate and ( Time = EndTime_HHMM or EndTime_HHMM = 0 ) then
begin
LRV = LinearRegValue( C, Length, 0 ) ;
LRVAgo = LinearRegValue( C, Length, Length - 1 ) ;
TLLRV = TL_New( Date[ Length - 1 ], Time[ Length - 1 ], LRVAgo, Date, Time, LRV ) ;
TLLRVHI = TL_New(Date[Length - 1], Time[Length-1],LRVAgo+IFF(StdErrEnv<AvgStdErr,StdErrEnv,AvgStdErr),Date,Time,LRV+IFF(StdErrEnv<AvgStdErr,StdErrEnv,AvgStdErr));
TLLRVLO = TL_New(Date[Length - 1], Time[Length-1],LRVAgo-IFF(StdErrEnv<AvgStdErr,StdErrEnv,AvgStdErr),Date,Time,LRV-IFF(StdErrEnv<AvgStdErr,StdErrEnv,AvgStdErr));
Flag = 2 ;
end ;
if Flag = 1 or Flag = 2 then
begin
if Length <= 50 then TL_SetColor( TLLRV, Red ) ;
if Length > 50 and Length <=100 then TL_SetColor( TLLRV, Green);
if Length > 100 and Length <=200 then TL_SetColor(TLLRV, Cyan);
if Length > 200 and Length <=400 then TL_SetColor(TLLRV, BLUE);
if Length > 400 and Length <=800 then TL_SetColor(TLLRV, Yellow);
if Length > 800 then TL_SetColor(TLLRV, White);
TL_SetColor( TLLRVHI, Green );
TL_SetColor( TLLRVLO, Red );
TL_SetSize(TLLRV, Linewidth);
TL_SetSize(TLLRVHI, Linewidth);
TL_SetSize(TLLRVLO, Linewidth);
TL_SetStyle(TLLRVHI, Linestyle);
TL_SetStyle(TLLRVLO, Linestyle);
TL_SetExtLeft( TLLRV, false ) ;
TL_SetExtLeft( TLLRVHI, false );
TL_SetExtLeft( TLLRVLO, false );
if ExtRight then
begin
TL_SetExtRight( TLLRV, true );
TL_SetExtRight( TLLRVHI, true );
TL_SetExtRight( TLLRVLO, true );
end
else begin
TL_SetExtRight( TLLRV, false ) ;
TL_SetExtRight( TLLRVHI, false ) ;
TL_SetExtRight( TLLRVLO, false ) ;
end;
end;
end
else if Flag = 1 then
{ Reset the end-points of the flag-1 LRLine at each new bar after it has been drawn
for the first time; this effectively results in a new LRLine each time. }
begin
LRV = LinearRegValue( C, Length, 0 ) ;
LRVAgo = LinearRegValue( C, Length, Length - 1 ) ;
TL_SetBegin( TLLRV, Date[ Length - 1 ], Time[ Length - 1 ], LRVAgo ) ;
TL_SetBegin( TLLRVHI, Date[ Length - 1 ], Time[ Length - 1 ], LRVAgo+IFF(StdErrEnv<AvgStdErr,StdErrEnv,AvgStdErr) ) ;
TL_SetBegin( TLLRVLO, Date[ Length - 1 ], Time[ Length - 1 ], LRVAgo-IFF(StdErrEnv<AvgStdErr,StdErrEnv,AvgStdErr) ) ;
TL_SetEnd( TLLRV, Date, Time, LRV ) ;
TL_SetEnd( TLLRVHI, Date, Time, LRV+IFF(StdErrEnv<AvgStdErr,StdErrEnv,AvgStdErr) ) ;
TL_SetEnd( TLLRVLO, Date, Time, LRV-IFF(StdErrEnv<AvgStdErr,StdErrEnv,AvgStdErr) ) ;
end ;
Screenshot of the ulitity attached
Anek
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