Turning upside down is a good idea!! I will figure it out, I will just have to do it thats all. I never spend time thinking about my decision when I trade to the downside, I just do it but when the same signal presents itself on the upside it hesitate, so no more !! I will let you know how it goes!
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AHG - Profitable Strategy for Struggling Traders
- Thread starter Anekdoten
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I'll vouch for those biz tv stations being useless!! eg. CNBC talked tennis while the market went on a massive rip this early afternoon!!
ok, ok, if they were talking basketball i wouldn't complain, but tennis!!! egh!
ok, ok, if they were talking basketball i wouldn't complain, but tennis!!! egh!
Quote from Anekdoten:
Patience
A good trade does not present itself every three minutes. When taking this into consideration you deduct that patience plays an extremely important role in trading.
Not only is patience required to be the predator trader that you should be but it's also imperative for letting those good trades do their own work. Not everything works in 15 seconds even after it has every characteristic of looking great.
Couple of things you can do to work on your patience.
- Fool around in ET forums
- Stretch your legs
- Music, I personally subscribed to live365.com and got digital music streaming at all times
- Get a snack
- Practice tape reading skills
- I seriously advice against turning on Bloomberg or CNBC, this will give you a bias and screw with your trading. Those people there know nothing about trading.
Hope it helps.
Anek
amazing trading...great job!!!..do you only trade or prefer the NQ?Quote from c.profitt:
Real, however only one contract. I have been experimenting with 932 tick chart for my entries and exits. I have found it really good so far for me. If you take a look at that last run up, you can see how well it works. I was able to get 34 points just on that trade alone. I went long at 2004.25 and got out at 2038.25. What I have been doing is when in a trade going long I wait until the previous bars low penetrated by 1 pt. or 4 ticks (same thing).
If the market dips and takes me out I will re-enter once strength comes back and previous bars high is taken out by one point. I have been doing really well with this. If you look at the big moves today on 932 tick chart you will see how well it works. I also make sure my trades are with the trend of course, Unless I see a double bottom or top
Anek,
You have mentioned about the engulfing candlestick, I agree totally on that.
How to make trade entry for such signal ? Usually this is a fast price movement in a short impulse move. Do you advise us to wait for a retracement or click fast on market order (is it chasing ?) ?
Or wait for the close of the bar to ensure it is engulfing bar first ?
Chiu
You have mentioned about the engulfing candlestick, I agree totally on that.
How to make trade entry for such signal ? Usually this is a fast price movement in a short impulse move. Do you advise us to wait for a retracement or click fast on market order (is it chasing ?) ?
Or wait for the close of the bar to ensure it is engulfing bar first ?
Chiu
Quote from Anekdoten:
After the double top every bearish engulfing bar at the downtrend resistance line is producing money.
Mickey here I come, with the people's money.
Anek signing off!
Anek,
Why bother putting channels in your auto trendlines if you only trade the trend? for exits?
Trying to understand why anyone uses em...
Cheers,
i
Why bother putting channels in your auto trendlines if you only trade the trend? for exits?
Trying to understand why anyone uses em...
Cheers,
i
Quote from Anekdoten:
Channels
When a channel forms you should only take trades with the direction on the channel.
Preferably when you see double confirmation.
If a downtrend channel, bearish formations (weak bars) at the resistant downtrend line.
If an uptrend channel, bullish formations (strong bars) at the supportive uptrend line.
You will notice that if price wants to break out of the channel it will most probably won't form the strong or weak bars that you need to enter the trade. This is a security measure, use it wisely.
You should not trade against the trend unless the opposite end of the channel confirms as a W or M formation. These are low accuracy but very good reward trades so completely optional.
Sample from today.
This is very simple yet a money maker.
Anek
PS: Don't forget to watch the filtered time and sales for even extra confirmations
Quote from jychiu:
Anek,
You have mentioned about the engulfing candlestick, I agree totally on that.
How to make trade entry for such signal ? Usually this is a fast price movement in a short impulse move. Do you advise us to wait for a retracement or click fast on market order (is it chasing ?) ?
Or wait for the close of the bar to ensure it is engulfing bar first ?
Chiu
After it closes and engulfs you are good to go.
Anek
Quote from Anekdoten:
After the double top every bearish engulfing bar at the downtrend resistance line is producing money.
Mickey here I come, with the people's money.
Anek signing off!
Great trading all...
Quick question regarding the screenshot Anek posted a few hours back....
What does it mean when you said "reversal" then confirmed on your chart? I'm assuming this is around 1120 am EST
thanks
J
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