AHG - Profitable Strategy for Struggling Traders

[suriNotes]

Same NQ Chart with 2000 shares...

regards,
suri

<img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=1724268" border = 0>

 

[suriNotes]

hi jychiu,

the concept behind 3LPB is quite different than reg. candles chart and is closely related to Point and Figures or Range/Renko chart methods... 3LPB, Range/Renko/Kagi ignore the passage of time and volume...

here is an article I wrote on 3LPB few years ago....

http://www.surinotes.com/Tradestation/articles/3lpb.pdf

regards,
suri

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 ?

 

[billdobson1972]

Hi Suri,

i greatly appreciate your work. I had seen your presentation. I am also looking at the your charts. I was following some of your entries. there are time where you enter and let the price move quite a bit against you. i have see as far as 3 ES pts. what kind of stop do use. Is it fixed or driven by fib and other suprt levels.I have also see you take exit on very small gains.

thanks

Quote from suriNotes:

hi jychiu,

the concept behind 3LPB is quite different than reg. candles chart and is closely related to Point and Figures or Range/Renko chart methods... 3LPB, Range/Renko/Kagi ignore the passage of time and volume...

here is an article I wrote on 3LPB few years ago....

http://www.surinotes.com/Tradestation/articles/3lpb.pdf

regards,
suri

 

[macattack]

If you entered this trade where the circle appears with just 1 contract how would you manage the trade once you're in it.

Where would you put a stop order? Where would you finally exit and for what reason?
Or would you get in and out multiple times based on the price action?

I find getting in the trade isn't too tough, but knowing what to do after that is driving me insane.

 

[Shel M.]

Hi Macattack,

Unable to open your Word document. Can you provide a .jpg, .gif, or .png?

Anyway, I'm in the same boat as you, that is trading one contract. I have tried all sorts of scenarios and what I always end up with is to set a target and a stop then adjust once in the trade. Stop is never adjusted away from the open. Target may be adjusted away or toward the open once in the trade. Some words I try to live by: Never let a winner turn into a loser. And, you can always re-enter. Just my .02

Have a Wonderful Holiday Season,
Shel

 

[suriNotes]

Hi Billdobson,

thanks for your email...

there are primarily two types of trades I trade intraday in eMinis. most days, i am trading a pattern [PRIMARY REASON] between few levels in scalp trades. [1-2 points scaled targets w/fixed 2 point stops]. the second type of trade is a defined (planned) trade with scaled entries (max 3 sets)... when i post in #patterns/website i do announce the trade with illustrated charts, how i plan to trade, scaled plans (with NO ADDS, or WILL ADD at x) and targets/Stops... all targets/stops are calculated ahead of the trade using patterns, fiblevels, supp/resistance criteria.
this is very similar to my equities trades also.


it doesn't mean that i am always right with my trades--- there are many times patterns fail, execution errors, time based exits or simply plain wrong with trade assessments do happen. all that is part of trading...

hope that answers your question.

regards,
suri

Quote from billdobson1972:

Hi Suri,

i greatly appreciate your work. I had seen your presentation. I am also looking at the your charts. I was following some of your entries. there are time where you enter and let the price move quite a bit against you. i have see as far as 3 ES pts. what kind of stop do use. Is it fixed or driven by fib and other suprt levels.I have also see you take exit on very small gains.

thanks

 

[jychiu]

Your file is a zip file. There are many files in this zip file, the chart appears in the 'picture' sub folder.

You could go to download.com to search for irfanview freeware to convert to jpg file. (or other equivalent software).

A typical answer to your question is to exit when the momentum slows. So in this case, at 2125 level or 2127 level if you scalp. If you swing trade, you might have a higher target. Usually when the position is positive (I trade 1 lot size), I will move the stop loss level upward to a positive level but allow it to retrace a bit. But at times, the retracement will hit you stop.

We have earlier heard from suri on that as well. To certain extend it is a probability game.

I have a slightly different problem from you. Good entry is a problem for me !

Chiu

Quote from macattack:

If you entered this trade where the circle appears with just 1 contract how would you manage the trade once you're in it.

Where would you put a stop order? Where would you finally exit and for what reason?
Or would you get in and out multiple times based on the price action?

I find getting in the trade isn't too tough, but knowing what to do after that is driving me insane.

 

[suriNotes]

hi jychiu,

thanks for your pm...
sorry i missed this post/question.

one of the critical criteria in the n-Bar Decline/Rallies is based on forming new-lows and new-highs (book has reference)... i use 21 bar lows/high for short-term or 40 bar low/high to define a new-low/high in medium term...
then n-bars lows formed after new low/high qualifies for this setup.

HA Candles structure can be helpful in visual detection of this pattern.

HAPPY HOLIDAYS!!

regards,
suri

Quote from jychiu:

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

 

[suriNotes]

hi,

here is an example of 21-bar lows/highs and n-Bar Rallies/Declines..

regards,
suri

<img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=1724787" border=0>

Quote from jychiu:

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

 

[carbtrader]

Here's my marked up chart for today that I'm archiving in my trade journal but saw some stuff that might help others... symmetrical triangle for today with confluence of multiple up trendlines supporting bounce: