AHG - Profitable Strategy for Struggling Traders

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Quote from thotspeed:

sandygray, jeffrey, boib, carb...

Thanks much for the advice and suggestions on improving patience and discipline. They're all excellent.

The crazy thing is... intellectually, I KNOW what I'm supposed to do and not do, but something wacky happens in the heat of actual trading and the best laid plans go out the window!

The idea of trading sim and real together is a great one.

Thanks all,

thotspeed
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This additional information may be helpful, although, it should be in the psychology section.

Why don’t you have patience? Is it laziness, procrastination, out of comfort zone, fear of success, and/or fear of failure, allowing others negative vibrations (signals) affect you, not willing to do what it takes to have what others don’t have? These are questions you need to ask, and answer, yourself while realizing that you don’t need to know the exact answer. After making a decision commit to just do it--whatever it takes.

Evidently, you are not doing what it takes. There are times when I don’t do what it takes missing setups, because of other things on my mind, or being tired. I either need to change my state of mind, or if I am feeling exhausted I’ll decide to take the day off yet take time to go over, and contemplate a few winning set ups so that my state of mind is back in check for the next session. Focusing and thinking of winning setups takes mind work.

How much money do you have a burning desire to make per day? Devise a workable trading plan, which will provide this amount now, or at a future date.

You said its funny, because you know what you need to do. Work on maintaining that state of mind being alert, and paying attention to detail. A mantra to that effect is in order. “Stay Alert and Pay Attention to Detail” This has works for me, and I use it in everything I set my mind to master, and then to stay at that level of mastery.

Make a decision and commit to do whatever it takes.
By admitting impatience as a problem you’re likely accepting it as an excuse to avoid trading successfully. Remember, as soon as you have a thought of impatience, or see a missed setup, get alert and pay attention to detail for the next setup. (stop chatting in a chat room accept to ask for setup validation if you want to mentor off a certain trader)

Don’t be like a typical fatty joining a gym with a $300 annual membership, but never followed a written plan if he or she had one. (or they show up and talk more than work out) Or, a young women with good intentions to give the best sex she can receives advice from her older friend to work on setups until you can do 80 in two minutes, but replies with, “But I don’t like setups”.

It comes down to Just Do It as planned! (Try to hang, and ingratiate, with people incorporating a goal-oriented mindset)

Jeffrey
 
jeffrey,

Thanks for the blunt and candid advice and suggestions.

I need to train myself to just sit on my hands and do absolutely nothing until my pattern appears.

best wishes for a Happy 2008

thotspeed
 
Brutus,thanks for the log :D , keep posting..good to see some of the charts posted during rthrs..btw, some 20 round trips in the s&p, scored +375$, one car; this stuff can be tiring if you give it
full concentration, more losers than yesterday but still too good to be true..:)wish it was on real account..
 
I want to have a Tradestation Showme indicator that tells me when a 3BR (3 bar reversal, Piscuy Pivot, 123, whatever you want to call it) has formed.

The reason I want to use a "Showme" is because a paintbar interferes with the Anek paintbars I am using. The showme will just put a little colored X above or below the final bar that becomes the entry bar.

Turns out, writing a showme is trivial: It is practically a one-liner. The only thing I have to nail down is the exact criteria to use. Pretty clear that that last bar has to go higher than the previous bar by 1 tic. Also seems the last bar must have a higher low than the previous bar. Also seems to me the lows are pretty straightforward. Not really sure exactly which highs must be higher, or equal to or higher, or dont care. A picture will show.
pivotexamples.gif


Using the diagram on the far right, and starting with the bar on the right, I require that the high on that bar be higher than the previous bar, and the low on that bar is lower than the previous bar, or H > H1 , and L > L1,

The next bar, 2nd from the right, I only need the low to be higher than the center bar, or L1 > L2. I don't really care how high the center bar is in relation to the bars before or after it, do I ? Is it ok for L1 to be equal to L2 or must it be a higher low?
So, I have L1 >= L2 (if equal is ok)

Looking at the center bar, I only want it to have a lower low than the bar to the left of it. Again, I don't care about the relative highs of either bar. So I have L2 < L3.


I have also added a criteria for the next bar to the left, mainly so I dont have too many 3BRs all over the place. This bar i only require that the low not be lower than the next one, or L4>= L3.

So, in summary I have

H>H1 and L>L1 and L1 >= L2 and L2 < L3
and L4>= L3.

This would be the showme for a bullish 3BR. Another showme with similar but reverse logic is used for the bearish setup.
 
Quote from Jaxon:

I want to have a Tradestation Showme indicator that tells me when a 3BR (3 bar reversal, Piscuy Pivot, 123, whatever you want to call it) has formed.

The reason I want to use a "Showme" is because a paintbar interferes with the Anek paintbars I am using. The showme will just put a little colored X above or below the final bar that becomes the entry bar.

Turns out, writing a showme is trivial: It is practically a one-liner. The only thing I have to nail down is the exact criteria to use. Pretty clear that that last bar has to go higher than the previous bar by 1 tic. Also seems the last bar must have a higher low than the previous bar. Also seems to me the lows are pretty straightforward. Not really sure exactly which highs must be higher, or equal to or higher, or dont care. A picture will show.
pivotexamples.gif


Using the diagram on the far right, and starting with the bar on the right, I require that the high on that bar be higher than the previous bar, and the low on that bar is lower than the previous bar, or H > H1 , and L > L1,

The next bar, 2nd from the right, I only need the low to be higher than the center bar, or L1 > L2. I don't really care how high the center bar is in relation to the bars before or after it, do I ? Is it ok for L1 to be equal to L2 or must it be a higher low?
So, I have L1 >= L2 (if equal is ok)

Looking at the center bar, I only want it to have a lower low than the bar to the left of it. Again, I don't care about the relative highs of either bar. So I have L2 < L3.


I have also added a criteria for the next bar to the left, mainly so I dont have too many 3BRs all over the place. This bar i only require that the low not be lower than the next one, or L4>= L3.

So, in summary I have

H>H1 and L>L1 and L1 >= L2 and L2 < L3
and L4>= L3.

This would be the showme for a bullish 3BR. Another showme with similar but reverse logic is used for the bearish setup.
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IMO, if your entry is triggered by the second bar H from the right (diagram on the far right), you don't really need the condition of a L > L1, because in realtime the trade can be entered (H > H1) and after your entry you can have
a L < L1, but you are already in the trade and that could be actually your stop loss.

Always IMO that condition L>L1 is useful only if you choose to enter on the following bar, thus using L > L1 as a further confirmation of a pattern.

( that's not how Piscuy tought us though, I'm sure you know that)


Anyway this is one of the codes I used to identify a bullish Piscuy Pivot


Buy= H >Ref(H,-1) AND Ref(H,-1) >= Ref(H,-2) AND Ref(L,-1) > Ref(L,-2) AND Ref(L,-2) < Ref(L,-3)AND Ref(H,-2) <= Ref(H,-3) ;

***Ref(H,-1) means the previous bar High***

I'm not saying your code is not good (I'll try it indeed), if I were you I'd try a few different codes and see for yourself what's the best for your style/reading etc.

Hope that helps
 
I think this is a possible Dragon Pattern forming on the HHH (Internet Holders).

Not confirmed yet though. I think a strong bar closing around 61 would do the job.

Just gotta figure out which internet stock to buy if this confirms.
 

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thanks mark1. I plotted your criteria along with mine and both gave 8 buy signals today (ES 610 tic chart) and 6 were the same. Each gave 2 signals that the other missed.
Your criteria is the white ball on top of the bars. Mine is the green ball at the bottom. I may just use both as a smaller ball at the bottom. :)
 

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