AHG - Profitable Strategy for Struggling Traders
- Thread starter Anekdoten
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Forgive my asking,
But I'm at a loss to interpret a 123 pattern. Is this a reversal pattern?
Is this Suri's or Piscuy's method? Anek's?
Can someone point me to a clean description of this?
I apologize if this is a redundant question.
- Tech
But I'm at a loss to interpret a 123 pattern. Is this a reversal pattern?
Is this Suri's or Piscuy's method? Anek's?
Can someone point me to a clean description of this?
I apologize if this is a redundant question.
- Tech
Here's a link to Piscuy's initial explanation, which includes charts.
http://www.elitetrader.com/vb/showthread.php?s=&postid=1690001#post1690001
http://www.elitetrader.com/vb/showthread.php?s=&postid=1690001#post1690001
Thank you! Thank you!
I guess I get "thrown off course" when I hear the term "123".
As I see it...
1 - "If we are in an uptrend, then we are looking for a valley for an entry. Now you need to find a bar that is the lowest bar of a long series of bars"
2 - "If the next bar fails to make a new low then this is the bar you pay attention to."
3 - "If you break the high of the bar by one tick, you go long, if you break the bottom of the bar by one tick then it is a failure."
So, this seems very similar to AHG except for the signal bar, right
I may be losing all of the subtle finesse with explanation of the different techniques, but am I hearing very similar ideas (if almost the same concepts) just spoken in slightly different languages?
I think I keep complicating the methodology as I read the different perspectives.
Am I way off?
-Tech
I guess I get "thrown off course" when I hear the term "123".
As I see it...
1 - "If we are in an uptrend, then we are looking for a valley for an entry. Now you need to find a bar that is the lowest bar of a long series of bars"
2 - "If the next bar fails to make a new low then this is the bar you pay attention to."
3 - "If you break the high of the bar by one tick, you go long, if you break the bottom of the bar by one tick then it is a failure."
So, this seems very similar to AHG except for the signal bar, right
I may be losing all of the subtle finesse with explanation of the different techniques, but am I hearing very similar ideas (if almost the same concepts) just spoken in slightly different languages?
I think I keep complicating the methodology as I read the different perspectives.
Am I way off?
-Tech
Thought I'd explain my money management strategy, maybe useful for somebody else....
Set a fixed 1st target of +1.5 pts with a stop of -1.25 (less if the high/low of the trigger bar allows it). Once the bars start forming I use the high/low of the previous bar +1 tick and move the stop as it goes. Once 1st target is hit, usually move stop to BE automatically, or closer if the high/low of the previous bar allows it. 2nd half of the position I try to let ride, again using the high/low of previous bar as trailing stop. Once I get into the 3-5 pts range I usually tighten up the stop quite a bit to avoid giving much back. After all, this is scalping. The trades shown on the chart are the average for the position, so 4 trades today were +1.5/+4, all with the morning trend. The 3 longs were quick scalps against the trend, 1st one actually shouldn't have taken (too close to TL).
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