AHG - Profitable Strategy for Struggling Traders

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While reading the suri book, try to pick some chart pattern applicable to the Friday price chart.

Matching High / Low Pattern is a reversal pattern with the price attempt to break the level for at least 3 bars in a row. For copyright reason, I will not go any further than that.

In the morning, there is a valid Matching High pattern for the 1000 share volume chart (this pattern is not there in the 2 min chart by definition).

In the afternoon, there is a very close to Matching Low pattern for the 1000 share volume chart. Suri could you help to advise whether it is a valid pattern for this case ?

See Matching High Pattern in the NQ 1000 share chart :
http://img407.imageshack.us/img407/6196/nqvolume1000071221amatcnh5.jpg

See Matching Low Pattern in the NQ 1000 share chart :
http://img146.imageshack.us/img146/8168/nqvolume1000071221bmatcuw3.jpg

Any one is observing and trading this pattern ?
 
Quote from jychiu:

While reading the suri book, try to pick some chart pattern applicable to the Friday price chart.

Matching High / Low Pattern is a reversal pattern with the price attempt to break the level for at least 3 bars in a row. For copyright reason, I will not go any further than that.

In the morning, there is a valid Matching High pattern for the 1000 share volume chart (this pattern is not there in the 2 min chart by definition).

In the afternoon, there is a very close to Matching Low pattern for the 1000 share volume chart. Suri could you help to advise whether it is a valid pattern for this case ?

See Matching High Pattern in the NQ 1000 share chart :
http://img407.imageshack.us/img407/6196/nqvolume1000071221amatcnh5.jpg

See Matching Low Pattern in the NQ 1000 share chart :
http://img146.imageshack.us/img146/8168/nqvolume1000071221bmatcuw3.jpg

Any one is observing and trading this pattern ?
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jychiu,

I see some Piscuy boxes and lids there too.

Anek
 
Quote from hwkaiser:

profit,

I asked Anek yesterday his thoughts on a more efficient journal keeping method and he stated what a great job that you were doing with yours. I believe that your daily charts would be a great benefit to the other readers as well. If it is not to personal, perhaps you could be so kind as to post on a regular basis or share the link to your photo hosting site.

I am very impressed with your performance on IRC and dedication to your analysis, I congratulate you on your progress. You are a fine example of Anek's teaching and methods, if one only has the fortitude to apply themselves.

In any regard, just wanted to say great job and wish you continued success ... :)
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Thank you for your kind words, I'm humbled. I would be more than happy to share anything I am doing with others. Although I wouldn't reccomend following too close as I still make stupid mistakes on a daily basis:p I will talk to you on Monday on IRC about the best way to go about sharing. I would also be interested in hearing what you and Anek came up with for an efficient journal keeping method. Righ now I do mine on my charts by making notes of why I took a particular trade..etc.


Kid- I have to agree with you. It would be better if someone could use a play back function to go through the exercise of recognizing patters. Although I think you need to learn to crawl before you can walk. I believe there are many out there that are at a level in their study where they can't even recognize patterns from a still chart. I think this method of looking at the charts after the session ends will benefit these individuals. I also believe that rather than make your mind see things that aren't there, this exercise will help train your mind to recognize these patterns before they develop in real time so as to help the trader anticipate what is coming and make a plan accordingly.
 
Quote from Anekdoten:

All very logical reasoning.

One incorrect assumption, just because I wait for a magic tick does not mean I can't get a fill below it or above it :)

Anek
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Never thought of that! Been using a stop-limit order to get in at the magic tick price but hadn't thought of going for a better price. I love this. :p

Shel
 
Quote from jychiu:

I am looking at some chart patterns that will give short term setup such as within the next 10 bars.

suri Three Line Price Brak (3LPB) pattern forms when three successive white/black candles (use closing price) is reversed (detail to refer to suri book).

Please see some of the signals in the Friday afternoon.
http://img209.imageshack.us/img209/6420/nqvolume1000071221b3lpbop0.jpg

suri are these signal setup valid ?

Any one observing and trade this pattern ?
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jychui,

I'll let Suri reply properly but will throw in my 02 cents.

All the bar patterns, just like chart patterns, must be supported by something else. However, in the case of the bar patterns this is even more important. For the bar patterns I use the intraday chart as guidance for the intraday chart patterns a multi day anchor chart.

Whether is a Trendline, Pivot, Support, Resistance.

The pattern or bar formation alone is not good enough.

For instance, you see a pattern, it looks goods. Great, what else we got ? Where's that backup, you need it.

Don't take this post lightly this is KEY in successful trading and it might have been, aside from discipline, the very thing that took me to a whole new level of trading.

Anek
 
This is a little old post. I was out of town for some time and didn't get much time to study and follow market on day to day basis. Would like to know if anybody used QT and tried to use this theory. Would like to know how sucessfull are you guys with this mathod for scalping. I plan to code for automate this logic using IB and QT.

Any and all inputs are appreciated. Thanks




Quote from gohstrader:

I had a few more PM's for further explanation of paintbars I use in the chart. Anek, I apologize if I'm taking this off track on you so I'll make this one quick to finish what I seemed to have started.
BTW--if you guys are thinking of using the paintbars for the YM I strongly suggest you use nothing lower than 2.0 setting on the range bar candlestick charts. ).5 or 1 is great for the ER, ES, and ZG.

Ok the following chart shows two colored "paintbars" at the bottom of the top pane and are really native indicators to QT. (also Sierra and I believe e-signal).

One is called Woodie's ChopZone indicator (after Ken Wood from Woodie's CCI club). And the other is called Woodie's Sidewinder.

Both are trend indicators and when you have them syncing in color i.e. powder blue under green or Brown under Green that's when you have a nice momentum trend going on.

As I explained before I scalp 1 - 3 points all day long on the ES, ER, NQ, and ZG but when I see the CZI and Sidewinder line up I'm in for the long haul. I simply draw a trendline and wait for it to be breached. (Picture Attached)

One more thing, I think someone wanted to know how I manage money thruout the day. I have two methods but I will only explain one in that the other is built into my API.

I use Bracket Trader which cost me a flat "one time for life 100 bucks" which allows me to automatically scale in and out of positions at pretermined points. ZeroLine trader is another one.
Its just personal preference but both are add-ons for IB TWS.

Strategy is simple. I will use 3 car ER2 example that I actually use for scalping. When I see my buy or sell (short) point I'm in all 3 cars. First profit target is 4 ticks, second is 8 ticks and the last one is a "runner" with a 2 point cap unless I see the brown/powder blue bars with trend as shown in the chart pic like I did last Thursday. Then I cancel my "runner" cap and go for it.

With Bracket Trader you can click a button and increase or decrease risk in nanoseconds or you can also flatten or hit the Break-even button. I was asking if IB had such a tool but they said its in the works but for 100 dollars I can go get a cup of coffee without worrying about what happens if my computer goes down or if the market reverses etc.

I do not have any affiliation with either mentioned company FWIW.

Here is a chart of the ES showing CZI and Sidewinder


<a href=http://www.freeimagehosting.net/><img src=http://img3.freeimagehosting.net/uploads/84cdd3cf35.png border=0 alt="Free Image Hosting"></a>


Good Luck and Good Trading to all of you!!!
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This is just another pattern described in the book, n-Bar Rallies / Decliens Pattern.

The n-Bar Declines build up on new-lows setup (at least 3 new lows successively). Vice versa for the rallies. For more detail refer to the book.

Please see some of the signals in the Friday NQ 1000 share volume chart morning session.
http://img132.imageshack.us/img132/2081/nqvolume1000071221anbarcw5.jpg

suri are these signal setup valid ?

Any one observing and trade this pattern ?

suri book has 56 patterns, I am just looking some chart setup that is applicable for the short term duration, say within the next 10 bars.

Just looking at the Friday chart patterns, there are already several chart patterns applicable. So you could see the power of the book !

Chiu
 
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