AHG - Profitable Strategy for Struggling Traders

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Another front end for TWS to check out is bracket-trader.

Less features then button trader but faster to learn and cleaner interface. And a lot cheaper as well.

Been papertrading with bracket-trader for a few months now and it never has failed me.
 
Quote from JDConner:

Mark

I just set ButtonTrader yesterday, it looks like its the way to go for scalping. Use 2 lots, 1st contract small profit( 4 ticks), 2nd bring stop up to break even or 1 - 2 ticks below B/E so its a scratch scalp if your wrong. Protect your capital, of course if your wrong right off the bat its double whammy.

JD
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Ninja Trader has the same capabilities .. just FYI...
For scalping I like to have two profit targets after the first one is hit the stop auto moves to break even... then I manage the second target either by hitting "close" to close the position immediately or manually move the target if I think there is enough momentum to get a little more... any sign of resistance I let it hit the target or close it.

Edit: some videos here:
http://www.ninjatrader-support.com/HelpGuideV6/helpguide.html?VideoLibrary
The auto breakeven one kind of shows what I mean... but I use the chart trader to manage the trade instead of the DOM.
 
Quote from mark1:

Ok I tell you my rule, say the red dot bar low is 2000 i place my stop limit short at 1999.75

Is that the magic tick?
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Mark... Been looking at your charts and your entry signals... Do you have any rules you follow based on how long the signal bar is?? That is to say, if the signal bar is more than 2 NQ points tall you would pass on that signal??? I'm thinking of the stop placement here... Perhaps on a really long signal bar you could wait for another bar or two to avoid a whip saw...

Thanks,
Fox
 
Quote from Anekdoten:

The magic tick is a HH or LL by 1 tick off any point of interest.

For instance, say there is an uptrend and a bar closes below the the uptrend line. Did a tick ever go below the low of the closing bar ? If so, that's the magic tick.

It's a technique I learned from Suri, in his recent H and S example you can see how Suri waits for it.

I adopt the magic tick in all of my trading.

He does not call it the magic tick, that's how I call it and with good reason because it's one of the most powerful techniques in my arsenal.

Thanks Suri.

Anek
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Anek,

I've been following the thread for a while. Very helpful.

My question regarding the magic tick is:

How do you place you limit order if you wait for the confirmation of the magic tick? A tick below or above the close of the reversal bar? Since the market may run away fast once it breaks, waiting for confirmation may result in the limit order is not able to be filled? In this case, will you chase the market using market orders?

Thanks again for the wonderful thread.
 
I don't wait for it, I anticipate it with a limit order. If the magic tick happens then it happens as I get filled.

If the next tick after the bar closes is the magic tick then you can hope for a limit fill or go market, your choice.

Chase, never.

Anek
 
Quote from mark1:

Ah yes I remember now.

Yes I use the magic tick (lol didn't remember the name) but not for microscalping, I use it for AHG.
s
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I am sorry if I am confusing people. I am mixing Anek's/Siri's' magic tick (support/resistance/points of interest) with Piscuy's 3rd bar tick above the close of the signal bar in a microscalp. I just call that the magic tick as well because it is a signal to enter the trade.

Although it never entered my mind to place a buy stop limit at the anticipated "magic tick" point in a scalp or a swing...interesting.
 
Ok thanks. I will look for them. Also, thanks for taking the time to answer our stupid questions. I think everyone appreciates the work you put in here except the haters.

Quote from Anekdoten:

I posted them a little less than a week ago along with crucial information. Without the explanation they are as good as regular HA bars, meaning nothing really special.

Anek
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