AHG - Profitable Strategy for Struggling Traders

Status
Not open for further replies.
Inverse H and S looks ok but little more confirmation there.

Trendline looks ok

The following does not look ok:

-If the trend is up

You want in at pullbacks ie Trendline tests, this gives you the biggest risk vs reward. You could have easily drawn your TL once the 2nd swing low point not sure why you waited for 3.

-Overtrade

Yes, very much so, be patient, this is not Donkey Kong where you press start and off you go. Think like a predator. Wait and wait and wait then attack.

- Trendline break

Noise got you. If the trend is up and the trendline breaks by a close + tick, you must still wait for an additional swing down and then on the next pop up you short it. Why ? Because a simple TL test/break/noise is good enough to exit the long but not enough to reverse because the previous uptrend has to be respected.

Hope this helps.

Anek
 
Quote from apex82:

I have a question, but look at it more as blunt advice.

What is your edge?

When you can answer this and believe in it then you will not need answers.... you mention H&S, trendline break etc.... you need to know your odds of success after taking 3,000 of those trades before coming to conclusions that you took a bad trade.
More...

I agree, but just to make something clear... before you can backtest anything even by hand (or front test) you need to know exactly what your setups are and in what circumstances you take them. Most beginners can't do this. It takes lots of observation before strict rules can be defined. Just my opinion though.

Hope that makes sense.
 
NQ Symm Action as expected by the extremes it is now at the low point.

Looking for reversal formations around here. No buying unless one solid one forms and confirms to prevent the purchase of a falling knife.

The point is price is at support, the reversal formation is now missing.

Targets can be APEX and other extreme depending on greed and balls.

Anek
 

Attachments

Quote from doubletrouble:

First off I would like to thank Anek again for all his time in coming up with the charts to show us. After my first effort in producing a chart... I realised it is plenty of work!!!!

ES morning chart 5000v. Got my trades in there with some burning questions. Hope somebody can share some relevant pointers regarding the questions.

Will do up an ideal trade chart and ask for comments as well hope you all do not mind.

dt
More...

After clearing the chart and looking back I realised I had just 4 potential plays. 3 quite valid and 1 not very sure. Please do comment.

dt
 

Attachments

Quote from kidPWRtrader:

This is just a general observation... I'll let Anek do what he does best, but all of your morning plays to an extent I believe you got lucky. Today was a very trendy day. Many of your plays you didn't wait for confirmation and just took first hit of support/resistance. This provides you a good r/w but in general you will not get the win ratio that you observed early morning.

The afternoon confirmed that. Your last long had absolutely no confirmation. Eventually this will lead to losses. You should have gotten out on the first widerange red bar. The bar that you shorted on was a narrow range bar and hardly something that would start a downtrend. Usually if you want to short/long breakouts wait till you get a wide range bar and the next bar retraces a little into the previous one so that you have confirmation but better r/w.
More...

Thanks for the advice! The redbar I shorted on was indeed narrow. I took it because it came after what I thought was a long red bar penetrating the uptrend line. Evidently I was wrong!
 
Quote from Anekdoten:

Inverse H and S looks ok but little more confirmation there.

Trendline looks ok

The following does not look ok:

-If the trend is up

You want in at pullbacks ie Trendline tests, this gives you the biggest risk vs reward. You could have easily drawn your TL once the 2nd swing low point not sure why you waited for 3.

-Overtrade

Yes, very much so, be patient, this is not Donkey Kong where you press start and off you go. Think like a predator. Wait and wait and wait then attack.

- Trendline break

Noise got you. If the trend is up and the trendline breaks by a close + tick, you must still wait for an additional swing down and then on the next pop up you short it. Why ? Because a simple TL test/break/noise is good enough to exit the long but not enough to reverse because the previous uptrend has to be respected.

Hope this helps.

Anek
More...

Great help especially regarding the TL break with additional swing! Do you think switching to the 10000v chart might help with my trigger happy syndrome?

dt
 
Status
Not open for further replies.
Back
Top