The ACD Method

Quote from RCG Trader:

Good info Mav. Thanks.

Looks like it's gonna be tough day in the AUD today, A down, headed toward an enormous pivot range. Might try something if I can get signal near the A down with a target somewhere in the pivot range. My signal generator is wave based so what will most likely happen is I get a signal near the pivot. Worst possible case. So then I get to wait to see if price trades thru the pivot or not. In any event it will be waaaay away from point B. Now I got risk issues. Im rambling I know, just sharing my thought process using RCG ( my signal generator) and ACD.

Im ticked. I would like a C up right about now:mad:
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Okay, I pulled the trigger. A signal came in near the A down. Definitely a brake trade tho. I hate those trades headed towards the pivot. I am trend follower thru and thru. But for the sake of this thread, I am willing to follow thru with this trade with gnashing of teeth. I am hoping price action will take it into the pivot and stall it there since there was a big move and some will want to take profits. If it goes thru the pivot, all the better. If it stops me out and makes a C up, I expect price to take some of the pain away from the A down trade.
 
Quote from RCG Trader:

Okay, I pulled the trigger. A signal came in near the A down. Definitely a brake trade tho. I hate those trades headed towards the pivot. I am trend follower thru and thru. But for the sake of this thread, I am willing to follow thru with this trade with gnashing of teeth. I am hoping price action will take it into the pivot and stall it there since there was a big move and some will want to take profits. If it goes thru the pivot, all the better. If it stops me out and makes a C up, I expect price to take some of the pain away from the A down trade.
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Stopped out of course. But the loss is much smaller than the potential for gain, so that is why I went thru this cycle. Approaching a C up.
 
Quote from RCG Trader:

Stopped out of course. But the loss is much smaller than the potential for gain, so that is why I went thru this cycle. Approaching a C up.
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What was the trade? You were short AUD/USD?
 
Quote from Maverick74:

What was the trade? You were short AUD/USD?
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Yep, I was short to see if I could catch a few pips when price challenged yesterdays pivot. I posted earlier that I hate that, as I am not a fader. But the idea was to show that even with a loss, the probability of a large gain is much greater over time.
 
Quote from RCG Trader:

Yep, I was short to see if I could catch a few pips when price challenged yesterdays pivot. I posted earlier that I hate that, as I am not a fader. But the idea was to show that even with a loss, the probability of a large gain is much greater over time.
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My rule is I never take trades in the opposite direction of a confirmation. Much easier to look for entries in the direction of the confirmation. Much easier!
 
Quote from Maverick74:

My rule is I never take trades in the opposite direction of a confirmation. Much easier to look for entries in the direction of the confirmation. Much easier!
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I have not won against the pivot yet. I think I might just adopt that rule.
 
Quote from RCG Trader:

I have not won against the pivot yet. I think I might just adopt that rule.
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That's one of the greatest things about ACD is not the trades you get into, but the trades it keeps you out of. I can't tell you how many times I had to sit on my hands doing absolutely nothing bored out of my mind waiting for a trade. Thank God my discipline is probably in the 99th percentile.
 
"The best traders sit on their hands 80% of the time"

Mark Fisher

from one of the videos. Does that mean the mkt trends 20%, any studies on this?
 
Quote from kinggyppo:

"The best traders sit on their hands 80% of the time"

Mark Fisher

from one of the videos. Does that mean the mkt trends 20%, any studies on this?
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Jesse Livermore also said this.
 
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