AHG - Profitable Strategy for Struggling Traders

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One of the toughest things for me to digest. But agree, its great to not have a bias.


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Quote from Anekdoten:

Good friend of mine used to be the CFO of a Fortune 100 company he is approximately in his mid 60s. He knows the financial world well but when it comes to trading his bearish bias is always with him. Even though he has improved his trading tremendously by reading AHG and applying anything I could teach him, the bias still haunts him.

Point is having no bias despite financial news is very hard to achieve but Nirvana for trading.

Anek
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Quote from Leonidas:

You need to develop a feel for the instrument and what it typically does. When I look at the chart you posted, I think that you are jumping the gun a bit because you aren't considering the bigger picture. Context is everything. Here's a few things you might have considered:

Setup 2:

The downleg on the left side of the chart that you shorted was the third big wave of selling in that downtrend. I'm not an Elliot Wave practitioner, but generally if you have three big surges of buyers or sellers entering a market with no sizable retracement (I consider 50-78.6 to be sizable), you have to be on the lookout for a reversal or retracement on profit taking, which amounts to the same thing for someone trading as close to the chart as you do.

Also, be careful to watch movement rate on your chart, since you use vol charts exclusively. If you look, you'll see price decelerated substantially from 15:05 - 15:10.
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I have a question regarding your last statement. Are you saying that with a volume chart price deceleration can be seen when the height of the bars/candles decreases relative to the previous bars/candles? Thanks.
 
Quote from Piscuy:

Dont think in terms of absolutes. If i tell you 5 bars you will be counting and waiting 5 bars when perhaps bar 2 gave you enough reason to exit. Exit the trade when it does not feel right anymore. I dont have a particular number of bars.

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Thanks, I know what you mean. This is where talent enters or else many would be getting rich with automation.

Choppy again today so far.
 
Anek just told me that he got a pm from someone asking for examples on the pivot to the short side. Here is an example of a trade on the NQ for this morning.

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I think that's where trading experience comes in... I've seen the market go opposite good news/earnings/hype too many times :)

Like Anek had said (I think) turn CNBC off!

- and just as i wrote this news out that Chavez was denied his dictatorship and the SPYs crash lol, typical...

i
Quote from Piscuy:

One of the toughest things for me to digest. But agree, its great to not have a bias.


P.
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""A more detailed example:

There is a double top.

The mid swing low is 2000.00

A bar closes below 2000.00 at 1999.00

Now I know what the magic tick is.

The magic tick becomes 1998.75""
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Anek,

did you explain that in depth somewhere -
simply dont't find it.
Thread is growing too fast :D obviously
a very good signal

Thanks
Charly
 
Quote from Charly:

""A more detailed example:

There is a double top.

The mid swing low is 2000.00

A bar closes below 2000.00 at 1999.00

Now I know what the magic tick is.

The magic tick becomes 1998.75""
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Anek,

did you explain that in depth somewhere -
simply dont't find it.
Thread is growing too fast :D obviously
a very good signal

Thanks
Charly
More...

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Coincidence - just clicked page 818

Is it that page or is there more somewhere.
I don't know what a mid swing low (or high) is - shame on me.
Hope someone will tell me.

Thanks
C
 
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