Crude oil showing nice strength. Trying to make a late day A up here.
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The ACD Method
- Thread starter sbrowne126
- Start date
Very strange price action today. Oil making an A up, Copper at the A up, indices trading sideways yet bonds and the Dollar making A ups.
Quote from Maverick74:
Very strange price action today. Oil making an A up, Copper at the A up, indices trading sideways yet bonds and the Dollar making A ups.
Do you think this has more to do with all the macro stuff this week, (ECB, Fed, etc)? Or end of month, (covering successful bond and dollar shorts)?
Is it at all possible the market is trading sideways because MF Global customers are liquidating and re-establishing elsewhere?
If so, won't this give us too much noise to trade via ACD this week, or give us nice ORs that lead to nothing?
Just curious really
Quote from Maverick74:
I think the term "trend following" is more about a mentality then actually describing price action. A trend follower by definition acknowledges that they have no ability to predict the future and simply follow price. There is very little analytical work done.
I think ACD is a combination of trend following and price action so it's more of a hybrid.
Most bad habits from new traders come from them trying to tell price what to do instead of the reverse. A good trader listens to the market, not to their mind. You will see this all over ET when guys talk their book. Explaining to you why the market must go lower or higher. They will talk your ear off if you let them. And when price goes the other direction they tell the market it's wrong.
Another major problem traders have is they have two separate game plans. One is the game plan before you enter the trade. The other is the game plan once you are in the trade. They should be the SAME game plan. The problem is, very few people can stick to their discipline once the trade is live. This is a serious serious problem.
agreed not too many people on et talk about the joy of drawdown. Nothing like being wrong on a large trade, one of the worst feelings in the world, super stressful. I think this really separates the men from the boys. I can see why people autotrade, LOL.
Quote from Quon:
Do you think this has more to do with all the macro stuff this week, (ECB, Fed, etc)? Or end of month, (covering successful bond and dollar shorts)?
Is it at all possible the market is trading sideways because MF Global customers are liquidating and re-establishing elsewhere?
If so, won't this give us too much noise to trade via ACD this week, or give us nice ORs that lead to nothing?
Just curious really
Yeah a lot of cross currents with MF Global, BOJ, end of month, fed meeting this week. I never initiate trades at the end of the month. But I do think the end of this week we are going to get some solid opportunities.
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How close to the end of the month are you willing to open a position?