AHG - Profitable Strategy for Struggling Traders

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Paintbars

Not sure what's wrong with me but I can't find any set of paintbars that please me so proceeded to code my own using a proprietary algorithm

Most of you know I've tried them all but they just are not delivering, that includes HAs, Suris, Engulfing, etc. I want more, always more.

Either way I welcome any comments on the following work, they were created with ABCs in mind.

Thanks for input.

Anek
 

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Quote from Anekdoten:

just because you failed on the first try due to bad accuracy does not mean you should sit like a dummy and just watch it work the second time without re-entering.

Anek
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Priceless statement!
 
Quote from Anekdoten:

Bog,

All you need is right here on this journal, the rest is screen time.

I could keep saying the same thing in different ways, but what's the point.

Some wanted to see me trade live, they got their wish, now they find it easier to believe and got better faith in the system.

Screen time my friend and for that you don't need me.

Anek
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And I certainly appreciate your efforts in doing so Anek. What was most revealing to me was how you disappeared from the chat room for 1/2 hour during that M trade while the rest of us were bantering away... extreme focus on the trade - and you killed it!

Thanks heaps...
 
Quote from Anekdoten:

Fish,

Check on Suri's book how he plays the H and S failures, you will see the key to the puzzle there and doing it on that play would have worked very nicely.

Remember to use trendlines to gauge failures as well.

Last but not least, just because you failed on the first try due to bad accuracy does not mean you should sit like a dummy and just watch it work the second time without re-entering.

Anek
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Thanks Anek.

I actually did re-enter after the 2nd shoulder break, but after getting stopped out the first time, I went back into scalp mode...and exited much earlier than my original plan.

I'm sloowwly learning when to have patience and let the patterns complete...and when to quickly take my profits when the market is choppy.

As you say, "screen time"...

I must say though, since reading this journal and watching you trade live, chatting, charting, etc., the learning curve has speeded up exponentially!

I'm having more winning days than before, and when I lose...I'm loosing less.

And I really appreciate the help from the others that contribute here as well...I'd name names, but there are too many to list.

A lot of great people on this thread!
 
is using line crossings worthwhile and what about modified and offset ma channel lines? what if they tell you when to enter without all the thinking? Can that work? of course, always with the trend ...do we sometimes think an entry is counter trend when it is the apex at end of run and zero starting point of new run/trend? thanks anek
 
Quote from mark1:

Hi Jack, what you see is also known as a 2B reversal pattern or "Spring" (Vic Sperandeo), you usually go long above the first bar that poked the previous swing low.

Basically the penetration of the previous low failed to hold below, those who played the breakdown of the prev low, had their stop loss right above the first candle that pierced that low.

So when the new low fails , the covering of those caught shorting, propels the up thrust very quickly, quickier than in a regular W formation ( with 2 equal lows)

Since you don't actually wait for the break of the middle swing, as in a W pattern, but you anticipate your entry quite a lot, this results in a good R/R ratio, because your stop is very small.

Thus what you see as a failed W, is actually a perfect 2B, good for at least 4 ES points

Both I and Anek noticed and commented the pattern while it was forming, in the chat today :D

If you want me to post the chart with the entry, let me know
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Mark!

I'd love to see your chart.

I played the 2B and entered at the break of the previous lower high. It reversed so quickly I felt lucky to break even.

Thanks Mark
 
Quote from mark1:

Hi Jack, what you see is also known as a 2B reversal pattern or "Spring" (Vic Sperandeo), you usually go long above the first bar that poked the previous swing low.

Basically the penetration of the previous low failed to hold below, those who played the breakdown of the prev low, had their stop loss right above the first candle that pierced that low.

So when the new low fails , the covering of those caught shorting, propels the up thrust very quickly, quickier than in a regular W formation ( with 2 equal lows)

Since you don't actually wait for the break of the middle swing, as in a W pattern, but you anticipate your entry quite a lot, this results in a good R/R ratio, because your stop is very small.

Thus what you see as a failed W, is actually a perfect 2B, good for at least 4 ES points

Both I and Anek noticed and commented the pattern while it was forming, in the chat today :D

If you want me to post the chart with the entry, let me know
More...

Thanks Mark,

Yes please post the chart! The "quicker upthrust" that you mentioned - is that the longer green bar at 12:27? Is that longer bar thegiveaway to look for a 2B pattern instead of trying to play the W? If you can post the chart with your entry, I'm sure that will help me get it.
I'm pretty sure that I've seen the 2B pattern in Suri's book, but I'll have to read through it again.

*also could you post your stop too?
 
Quote from brotherben:

is using line crossings worthwhile and what about modified and offset ma channel lines? what if they tell you when to enter without all the thinking? Can that work? of course, always with the trend ...do we sometimes think an entry is counter trend when it is the apex at end of run and zero starting point of new run/trend? thanks anek
More...

Could be a little slow. When I see a trendline break I don't actually call a new trend unless a swing in the direction of the so called new trend forms on the other side.

Doing this helps a lot with what is just noise.

Anek
 
Here are my charts from Friday morning and Afternoon. This is probably some of the worst trading you will ever witness but I forced myself to go through my trades and annotate what I was thinking when I took them. Looking back it is comical but it shows how your mind can think during market hours and not see clearly what is really going on. It's embarrasing to show this to all of you but maybe you will learn something from my mistakes...Enjoy the show:confused: :confused: :eek: :p :p :( :D :confused:
 

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