The ACD Method

Quote from Maverick74:

RCG, my brother, where art thou? BOJ intervenes tonight. Yen pairs are moving. What's interesting to note, outside the obvious USD/JPY pair, many of the other yen pairs already made and confirmed monthly A ups ahead of the intervention (EUR/JPY, CAD/JPY, AUD/JPY)
More...

Using ACD, price on the e/j pair needs to trade below the pivot of the intervention day, because I got an a down first. It did trade below the pivot but when I got a sig from my generator, the sig came on a hammer, so I would need to wait for the hammer to fail, and it must fail within two bars of the signal. That did not happen. Then the MA's started to turn up, all this means consolidation to me.

Price is meandering around the bottom of the intervention day pivot range. So I am thinking tomorrow traders will start beating the Yen into the ground again. That is where the opportunity is I think.
 
Quote from RCG Trader:

Using ACD, price on the e/j pair needs to trade below the pivot of the intervention day, because I got an a down first. It did trade below the pivot but when I got a sig from my generator, the sig came on a hammer, so I would need to wait for the hammer to fail, and it must fail within two bars of the signal. That did not happen. Then the MA's started to turn up, all this means consolidation to me.

Price is meandering around the bottom of the intervention day pivot range. So I am thinking tomorrow traders will start beating the Yen into the ground again. That is where the opportunity is I think.
More...

My buy signal on EUR/JPY was 104.93. That came on Oct 12th so it was a while ago. We never traded back below that price. Also broke above my QTR level at 105.16. However tomorrow is a new month so all longs would be closed today anyway.
 
Quote from RCG Trader:

I saw the BOJ intervention, but since it happened before the European markets opened, my play would be to wait and see if there is some follow thru on this. BOJ interventions never work.

I went ahead and put up some levels, but based on my rules, I would still be flat EURJPY at this time.

Do you teach the guys at your shop ACD?
More...

Did. The key word was "did". I actually had a mentorship agreement with Fisher to teach these guys ACD in Chicago. Here's the kicker. None of them were interested! Even though I taught them ACD for the year preceding. And to answer your next question, none of them are still trading.
 
Quote from Maverick74:

My buy signal on EUR/JPY was 104.93. That came on Oct 12th so it was a while ago. We never traded back below that price. Also broke above my QTR level at 105.16. However tomorrow is a new month so all longs would be closed today anyway.
More...

The better trade was the breakout in AUD/JPY. My monthly A up was 76.60 also on Oct 12th. Traded all the way up to 83. Once it broke out, it never traded back. BTW, what made this trade so nice, it was the first monthly A up since April. Clean signals guys, look for clean signals.
 
Quote from Maverick74:

Did. The key word was "did". I actually had a mentorship agreement with Fisher to teach these guys ACD in Chicago. Here's the kicker. None of them were interested! Even though I taught them ACD for the year preceding. And to answer your next question, none of them are still trading.
More...

Ahhh, that is too bad. ACD simplifies things so much! What is more sad is that since you are a prop shop, I presume you had already given them a signal generator, and simply wanted to learn to map the market. Tragic. But it is good to know that there are shops that want their traders to win. Kudos Mav.

I see you seem to have number of time frames and markets going. Seems like a nice set up. I might try to make it up there before the winter comes in.
 
Quote from Maverick74:

MF Global Traders remain on the floor of the Nymex. They have not been escorted off as traders were at ICE and CME floor in Chicago.
More...

Who do you think will be the next casualty in this debacle. Any other US institutions with this kind of exposure?
 
getting back to trend following, I think there are semantical problems. For example is this pullback part of a larger trend or a new trend. There is really primary/secular, intermediate/secondary and minor/short term. The intermediate to me the swing is where you can really lose due to reversals.

Mav these are some strange stories you are telling, if you buy at 1 and sell at 2 and vice versa is that not trend following?. Maybe you can break down the typical bad habits of new traders. I would imagine they would be almost universal in character.

breakout on spy here.
 
Quote from kinggyppo:

getting back to trend following, I think there are semantical problems. For example is this pullback part of a larger trend or a new trend. There is really primary/secular, intermediate/secondary and minor/short term. The intermediate to me the swing is where you can really lose due to reversals.

Mav these are some strange stories you are telling, if you buy at 1 and sell at 2 and vice versa is that not trend following?. Maybe you can break down the typical bad habits of new traders. I would imagine they would be almost universal in character.

breakout on spy here.
More...

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.
 
You must log in or register to reply here.
Back
Top