The ACD Method

hello everybody,

I am new to trading and I am not doing very well with the ACD method, I decided that it is probably better for a beginning trader to swingtrade more then to daytrade to avoid getting whipsawed.
What time frame do I use if I want a weekly opening range and how often do I reset it .

tks for helping !

odraccir
 
Quote from odraccir:

hello everybody,

I am new to trading and I am not doing very well with the ACD method, I decided that it is probably better for a beginning trader to swingtrade more then to daytrade to avoid getting whipsawed.
What time frame do I use if I want a weekly opening range and how often do I reset it .

tks for helping !

odraccir
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I would respond that the mkt has two modes: breakout and reversion to the mean. To me ACD method is a breakout method. The idea is if a level holds you get long/short and have a stop in place and ride the wave. If you look at es you see we had a strong trending mkt from 1120 to 1420, we are now 100 points off the high. If you are new I would tell you to trade small, no more than a couple % of your account on any given trade, mkts are very random in the short term. I think you answered your own questions regarding timeframes.
 
Quote from kinggyppo:

I would respond that the mkt has two modes: breakout and reversion to the mean. To me ACD method is a breakout method. The idea is if a level holds you get long/short and have a stop in place and ride the wave. If you look at es you see we had a strong trending mkt from 1120 to 1420, we are now 100 points off the high. If you are new I would tell you to trade small, no more than a couple % of your account on any given trade, mkts are very random in the short term. I think you answered your own questions regarding timeframes.
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Thank you for answering - but I am not sure i understand what you mean by *you answered your own question regarding timeframes*. I am looking for the weekly OR timeframe as I cannot find that in the book - as far as I understand the monthly timeframe starts the first month of the year for one month and is valid till July and then it resets my question is when does the weekly timeframe start and when does it reset itself
 
Quote from odraccir:

Thank you for answering - but I am not sure i understand what you mean by *you answered your own question regarding timeframes*. I am looking for the weekly OR timeframe as I cannot find that in the book - as far as I understand the monthly timeframe starts the first month of the year for one month and is valid till July and then it resets my question is when does the weekly timeframe start and when does it reset itself
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I would take the first two weeks of the year, I am not sure about the resetting part. That is just me though. Its all about what you think is relevant. Personally I if was looking for a swing long on es the ideal set up would be a flush down to 1280 and then a run to 1450. so if the first two weeks range was 1260-1300 I want to be be bullish above 1300 and bearish if we break under that range. This is my understanding and only mine, the other posters look at things in different ways.
 
Quote from Shanb:

Will be watching...Finanicals, Tech, and the chips into the end of the week. Looking for weakness in these areas.

Homebuilders are holding a really nice bid, when the market bounces watch the homebuilders. They can catch a really nice bid!
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The numberlines have really deteriorated in the past 5days. I have huge dropoffs in the both the 5 days and 30 days. This market could be setting up for a flush!

KBE showed some real weakness today. The QQQ'S have dropped off -12 on the 5 day in the past 5 days! Lots of signs of a acceleration in momentum. We've obviously been selling off in the past couple weeks, but the momentum hasn't been there. It's been tough to trade as well. Looking for that to change in the next week or so.
 
The average dropoff in todays 5 day numberline for the 30 or so sectors that I follow was -4. that doesn't happen very often, especially across the whole market.
 
Quote from Shanb:

The average dropoff in todays 5 day numberline for the 30 or so sectors that I follow was -4. that doesn't happen very often, especially across the whole market.
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Yeah, seeing -3's today and some -4's sure didn't make me feel too bullish rhrn.

Maybe we finally get some type of tradeable bounce on the other side of this move down?
 
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