AHG - Profitable Strategy for Struggling Traders

Status
Not open for further replies.
Quote from hwkaiser:

Good Morning Guys,

I have been working on the trading business plan recently and posted draft hk-002 on the thread "trading plan AHG community project" http://www.elitetrader.com/vb/showthread.php?s=&postid=1744608#post1744608

Those interested in participating to create a working document based on the principles of AHG, I would greatly appreciate your comments, suggestions or any other assistance you may be able to provide in bringing this project to maturity.

It is still a work in progress and I could use some objective opinions to confirm that I am proceeding in the proper direction... the magic tick so to speak... :)

Thank you kindly, blue skies all....

hwk
More...

hwkaiser,

Thanks again for your efforts for putting together the great documents. Excellent job!!!
 
Posting of this thread for the Dec 2007 is captured in two word files.

I will stop giving notice on the availablility of the new file, every half monthly I will upload the word file in the following folder :

http://www.4shared.com/account/dir/4770409/39a2f240/sharing.html?rnd=90

Just to repeat again that the above download are hosted in FOC site www.4shared.com. To download, look for the 'download file' underlined text to downlod, you will wait for about 10 seconds for this 'download file' button to appear (FOC need to wait).
 
jychiu -

Thank you very much for converting the thread to a word document with the attached charts embedded. It makes it a lot easier for those of us learning AHG to go through all the history (in addition to HWKaiser's excellent summary document). Also, I find it helpful to have it in printed form in order to make notes.

Thanks for your effort here and sharing the results with the group.

Sandy
 
From a forex trader, looking at your chart, the 1st time you went short was after a trend break out to the long side . I see no reason to be short after the market changed direction.

Your 2nd short was actually at a double bottom. Previous "trend channel" which you don't know how to draw, and I no longer need to since my brain can see them was up, so again, why would you want to be short?

Also, I don't trade alot, I may trade just once per week, and look for a perfect setup, and have my trades already in place and ready for the market to reach them.

I think you need to spend more screen time and not have bias to go short or long, but let the market tell you when you are right.

Quote from einstein:

attached is chart from today's NQ. got shorted out twice. First was an attempted short at TL with 3br and second was close below what looked like an M with magic tick. Looking for any helpful comments and criticisms. Much appreciated.:)
More...
 
Quote from oraclewizard77:

From a forex trader, looking at your chart, the 1st time you went short was after a trend break out to the long side . I see no reason to be short after the market changed direction.

Your 2nd short was actually at a double bottom. Previous "trend channel" which you don't know how to draw, and I no longer need to since my brain can see them was up, so again, why would you want to be short?

Also, I don't trade alot, I may trade just once per week, and look for a perfect setup, and have my trades already in place and ready for the market to reach them.

I think you need to spend more screen time and not have bias to go short or long, but let the market tell you when you are right.
More...

Thank you for those observations. I DO need more screen time. Wrt my first short, I redrew the TL (seen on chart) from a very steep downtrend line and felt price was still making lower highs and lows. Aside the fact that price made a higher low right AFTER I went short on what I thought was a 3br at trendline, how was I supposed to recognize that the trend had changed?

Wrt my second short, I see the channel you are referring to, but I would say that an argument could be made that the channel was broken to the downside (ie break of lower channel support line) around 10:49. Let me know what I am missing here.:(
 
Lets look at your chart. You have a red dashed line in the morning that easily shows that the trend was down.

Then you see the green candles break above the red dashed line. This shows a trend change from short to long.

However, you for whatever reason drew a blue line that bisets the red dashed line. This line is incorrect. You should not have drawn it.

If I was you, I would STOP drawing those blue lines. You are cluttering up your chart with useless lines that are confusing your mind. Instead focus on the green dotted lines for going long and the red dotted lines for going short. That shows you real trend. Since you were not able to get short in the morning trend, once it changed to long, you should have focused on going long on pullbacks to that green dotted trend line, and you would have made money.

Instead it looks like you saw the morning trend was down, so got it into your mind to ONLY take short trades even though you admit you can now see the trend is bullish and in a trend channel that is going up.
 
Thank you for responding. I see what you are saying. I am not yet ready to give up trendlines tho- just need to improve my skill in drawing them in.:)
 
following mercury's method you can do very good. i had been following this. will also test on different time frames. what i find is if you wait for 0 line crossover on 3000v shares on NQ, those are gr8 entries. there will be very which you will get but high probable. Stop has to be 4 to 5 point need to work on it. Mercury tell us more about this method. this compliments AHG very well. for new comers




Quote from Mercury77:

Hi guys!

First of all I want to say this is a great thread! I I got a lot of good advice form Anek and other posters and now I want to share something with you that helps me a lot in my (sim) trading.

I know you hate indicators but because it helps me for my entries combined with all the other stuff (trendlines, DT, DB, Piscuy entry technique) maybe it can help some of the newer day traders like myself.

I use a MACD with the settings 3,10,16.

The slower line of the MACD is telling me if the trend is up (above zero) or down (below zero). The faster line lets me look for entries (pullbacks/rallies against the trend).

If the faster line crosses above zero and the slower line is below zero I am starting to look fo a short. The trigger is when the faster line turns down( up in case of pullback in an uptrend) and the entry is 1 tick below the the low of the trigger bar. The trigger bar is marked with a dot on the price chart and the entry bar is marked with an arrow on the price chart.

I marked the turning points of the faster line on the macd histogram with an up or down arrow.

Very important!! The use of the indicator is only a visual aid for me! I think if you have enough screen time than you can toss this indicator away.

If you have any questions please let me know.

I have attached fridays price action.

The time is New York + 6 hours
More...
 
Anek-

I've posted a chart that you actually posted awhile back.

I've marked the entry with a yellow circle on the breakout of the W. The yellow X is where it has started becoming a losing trade.

I'm wondering how you know to stay in this trade, or to let your stop get hit? The yellow X ends up being a re-entry area, but what if it had broken the uptrend line, and hit your stop below the upper leg of the W? On this play do you get out once that uptrend line is broken?

Do you just take this as a loss or would you have secured profits at some point earlier?

thanks for the insight...

others are welcome to comment also
 

Attachments

This may be completely wrong and if so I'm sure A will comment. I think Anek would place his stop midway between the mid-swing of the W and at lower support. This would be about 2057 and hence stop would not be threatened. Journal states that Ws and DBs require a bigger stop (ie bigger risk b/c of bigger reward.
 
Status
Not open for further replies.
Back
Top