AHG - Profitable Strategy for Struggling Traders
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Quote from einstein:
Thanks for that helpful reminder. Reading back over the journal I noticed there has been mention of the 3 bar reversal by StealthTrader, and now a helpful reminder to enter when minor resistance is broken. What about when the pullback (in a long) is just a series of red candles with lower lows and lower highs with no obvious minor resistance? Would one enter with the first bullish candle that appears -say 1 tick higher than the close of that bullish candle? How does one combine this technique with entering when previous resistance has now become support? Thanks.
Just going back to page 41 of this journal where Stealth explains this 3 Bar Reversal. and can anyone tell me why he lets the 4th Bar go one tick past the third bar (which is the first Bullish Bar in the pullback ) and then he places a Buy Limit Order halfway back down this third Bar ??
Is this to compensate for brief profit taking or headfake before the reversal takes off into the direction of the prevailing Uptrend.
It seems like sometimes you would miss the ride back up if you waited for price to come back down to halfway of the third bar.
Thoughts or explanations about this from anyone ??
tnkx
Hi hwkaiser, many thanks for your prompt reply,
I was just referring to the following post from several days ago. As I use OBV for some specific entries I am interested to see if TMF would be an improvement, OBV certainly has it's shortcomings often leading it to reveal itself as the court jester.
Anekdoten
Registered: Mar 2007
Posts: 1537
11-14-07 10:07 AM
Tick Money Flow
A possible upcoming enhancement to AHG, possible being the keyword here.
This indicator was written by John Hudson, it pretty much measures where the big money is going. In other words, what's important.
I'm still in the preliminary stages of my studies behind the TMF but here is a real quick summary.
As an oscillator, watch the trend, highs, lows of the buying/selling pressure in comparison to price.
As a plot on the tick/volume charts watch divergence between price and the TMF.
This tool is NOT a signal it is a confirmation meant to increase accuracy when searching for entries, perhaps exits too. Price is and always will be king, this one you could call, prince?
I like to add two instances, one to the chart as a line plot to look for divergences, and another as an oscillator to study its trend more carefully. That's right, you load it twice.
Since this is not my own work I will let you guys do most of the research as I do my own and perhaps in the future we can compare notes and share them here.
Attached please find the code for Tradestation and a quick chart so you can see one of its capabilities/potential.
So far, i like what I see but no final conclusion, yet.
The TS code then followed
Best Regards
Johno
I was just referring to the following post from several days ago. As I use OBV for some specific entries I am interested to see if TMF would be an improvement, OBV certainly has it's shortcomings often leading it to reveal itself as the court jester.
Anekdoten
Registered: Mar 2007
Posts: 1537
11-14-07 10:07 AM
Tick Money Flow
A possible upcoming enhancement to AHG, possible being the keyword here.
This indicator was written by John Hudson, it pretty much measures where the big money is going. In other words, what's important.
I'm still in the preliminary stages of my studies behind the TMF but here is a real quick summary.
As an oscillator, watch the trend, highs, lows of the buying/selling pressure in comparison to price.
As a plot on the tick/volume charts watch divergence between price and the TMF.
This tool is NOT a signal it is a confirmation meant to increase accuracy when searching for entries, perhaps exits too. Price is and always will be king, this one you could call, prince?
I like to add two instances, one to the chart as a line plot to look for divergences, and another as an oscillator to study its trend more carefully. That's right, you load it twice.
Since this is not my own work I will let you guys do most of the research as I do my own and perhaps in the future we can compare notes and share them here.
Attached please find the code for Tradestation and a quick chart so you can see one of its capabilities/potential.
So far, i like what I see but no final conclusion, yet.
The TS code then followed
Best Regards
Johno
I didn't include the zip file Anek posted on 10-13-07 in my notes as he stated he had not arrived at a final conclusion. Thank you for bringing it to my attention, I will include it in my next updated notes with the caveat that it is in evaluation mode.
I have attached the file for reference and would imagine that gohstrader or AAA30 may be able to assist with your inquiry, however, I do not believe QT can run indicators under the price action (upper pane), but may be able to run as an oscillator in the lower pane... good luck
I was perusing my stock picks and came across the dragon formation. Although it's a stock it's interesting that the pattern can be applied outside of the futures world.
Hi PIscuy, thanks for the link about the Dragon formation, yup I agree with you, it seems too complicated for short term trading, I'll stick with basic patterns.
About overtrading, I should have been clearer, by overtrading I meant taking a valid signal , but my own rules dictates me to wait for a clear/strong signal when I've been stopped out a few times in say 5-10 minutes.
That's what happened, I kept taking valid signals but the market was telling me it wasn't ready,(big spikes and long candles, not the best environment for sure) I was not listening. So yes, we can say I was trading not following completely my rules.
Complicated to explain, I hope I was clear.
Now I know you are a true scalper and a good one too (Anek's words), thus I know you probably have you rules
set on stone, because of the very nature of your style and the high discipline required.
I'd really like, and I'm sure I'm not the only one, to see your contribution on this thread,(I read your previous posts, and you left me drooling like a dog, whoof whoof I want my bone
) I've seen your question, I think the majority of us is focused on the NQ future contract, we use 1000 costant volume chart as the base chart , very similar to a 1-2 minute chart.If that's not your instrument of choice, not a problem I'm sure we can learn from your inputs about any instrument you prefer.
Hope you'll find the time and the energy to make it here
Thank you for the confirmation on QT, that is as I expected. They were contacted regarding the E-motion indicator (HOD-LOD dynamic fib retracement) and indicated not enough interest existed to pursue. No doubt the same would hold true for the TMF....
QT is an excellent program albeit has its limitations, but put in the proper perspective, it performs flawlessly as designed, for custom strategy implementations Tradestation is the more appropriate vehicle. (although I prefer IB as a broker).
Blue skies and tailwinds....
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