AHG - Profitable Strategy for Struggling Traders
- Thread starter Anekdoten
- Start date
- Status
Extremely happy with today's market, literally broke the bank in just a few trades.
The anchor chart gave it all away by breaking the downtrend line and then creating an upswing. A trendline break on the anchor chart is not the same as breaking a small crappy trendline on a noisy fast chart, things like this are meaningful.
Remember to apply AHG to the anchor chart as well, this is your overall bias, should there be a trend. Watch out for the chop in every chart though.
Today, if time permits, I will add an additional tool to the arsenal that I've been testing. It's a bit more advanced and it's based on bid/ask pressure, a pretty good tool developed by a kind fellow, who like me, believes the holy grail is the actual skill of the trader therefore sharing is quite alright.
Anek
The anchor chart gave it all away by breaking the downtrend line and then creating an upswing. A trendline break on the anchor chart is not the same as breaking a small crappy trendline on a noisy fast chart, things like this are meaningful.
Remember to apply AHG to the anchor chart as well, this is your overall bias, should there be a trend. Watch out for the chop in every chart though.
Today, if time permits, I will add an additional tool to the arsenal that I've been testing. It's a bit more advanced and it's based on bid/ask pressure, a pretty good tool developed by a kind fellow, who like me, believes the holy grail is the actual skill of the trader therefore sharing is quite alright.
Anek
Hey check out this perfect entry...I get lucky every now and then...was thinking about 50% retracements and had been having difficulty placing entering orders so tried what is shown on chart
Seriously, I have been having great difficulty deciding where to enter on the pullbacks...I am always early it seems and get stopped out many times..i will keep practicing..all help and comments are appreciated
Good trading,
B Price
Seriously, I have been having great difficulty deciding where to enter on the pullbacks...I am always early it seems and get stopped out many times..i will keep practicing..all help and comments are appreciated
Good trading,
B Price
Something I've noticed a lot with some of the people struggling with entries on pullbacks.... it's important to wait for the chart to tell you that the pullback is over and the trend is resuming. In other words, you can't try and "guess" where the pullback is gonna end and just blindly take a shot at it. Wait for resistance within the pullback to show itself (for longs) and enter as that minor resistance is taken out. Anek went into a very detailed explanation of this a while back in the journal using the "strong bar" to indicate a return of strength with the trend. I keep seeing people try to buy the very bottoms of pullbacks, instead of waiting for confirmation of strength. Sometimes you get lucky and it works, but it is guessing at best, and that is one thing we never want to do. Just my .02
Quote from cchili00:
Something I've noticed a lot with some of the people struggling with entries on pullbacks.... it's important to wait for the chart to tell you that the pullback is over and the trend is resuming. In other words, you can't try and "guess" where the pullback is gonna end and just blindly take a shot at it. Wait for resistance within the pullback to show itself (for longs) and enter as that minor resistance is taken out. Anek went into a very detailed explanation of this a while back in the journal using the "strong bar" to indicate a return of strength with the trend. I keep seeing people try to buy the very bottoms of pullbacks, instead of waiting for confirmation of strength. Sometimes you get lucky and it works, but it is guessing at best, and that is one thing we never want to do. Just my .02
That's correct the engulfing bars are helpful in this area.
Thanks for mentioning them.
Anek
- Status