I would use a 5 min opening range. Fisher used a 30 minute range.
I would also try his first hour pivot range. Price should be above the daily pivot range range and within 10% of the first hour high.
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The ACD Method
- Thread starter sbrowne126
- Start date
I would use a 5 min opening range. Fisher used a 30 minute range.
I would also try his first hour pivot range. Price should be above the daily pivot range range and within 10% of the first hour high.
Quote from Maverick74:
I would use a 5 min opening range. Fisher used a 30 minute range.
I would also try his first hour pivot range. Price should be above the daily pivot range range and within 10% of the first hour high.
Hmmm really, that small? Keep the A-values the same in this case right?
Also the time stop would have to be changed as well to remain consistent. I'm going to go over all the trades I've made in the last 5-6 days and see how this would effect it, thanks!
Quote from Shanb:
Hmmm really, that small? Keep the A-values the same in this case right?
Also the time stop would have to be changed as well to remain consistent. I'm going to go over all the trades I've made in the last 5-6 days and see how this would effect it, thanks!
Use the first hour pivot range.
Shan, please understand that you need to look at 1000's of trades to see what settings you want to use. Just looking at a few trades are not enough data points.
Quote from pwrtrdr:
Can you elaborate. 10% of the first Hour high. Thnx [/QUOTE
Pivot first hour highs and lows
In this setup, the trading activity over the first hour of the day is used to determine whether the daily pivot range engulfs the first-hour high or low. A subsequent A up or A down confirms an intraday bias and affords the trader an excellent low-risk trade entry point.
http://www.mbfcc.com/acdglossary.html
Here is the excerpt from the book:
http://books.google.com/books?id=4x...&resnum=1&ved=0CBoQ6AEwAA#v=onepage&q&f=false
Quote from Maverick74:
Use the first hour pivot range.
Shan, please understand that you need to look at 1000's of trades to see what settings you want to use. Just looking at a few trades are not enough data points.
Ya definitely understand, I just want to have a basic understanding of how it would effect OR sizes relative to ATR etc. This way I can understand how to structure my approach.
Quote from Maverick74:
Use the first hour pivot range.
Shan, please understand that you need to look at 1000's of trades to see what settings you want to use. Just looking at a few trades are not enough data points.
Oh and wont forget the first hour pivot range...I bet this would be a great way to allow for runners once in a good trade.
Quote from Shanb:
Ya definitely understand, I just want to have a basic understanding of how it would effect OR sizes relative to ATR etc. This way I can understand how to structure my approach.
Just remember Fisher uses a 30 min OR. He is worth more money then me. So take my suggestion with a grain of salt.