The ACD Method

[gmst]

Quote from Shanb:


98% of people that are successful in this business have put an awful amount of time and effort into their craft. the other 2% are naturals and it just comes easy. Unless you are the 2% you can't really expect to learn this shit overnight....believe me I know.

Even Paul Tudor Jones won't come in that 2% (he blew up 3 times in first few years of his commodity trading if I remember correctly). I will say the percentage of people who are naturals among successful traders is probably less than 1 in 1000 so 0.1%.

MBC - If you want to learn, its a long and tough journey. Period. Ask successful traders for advice but unnecessarily don't put useless/unnecessarily argumentative questions. We want this thread to remain civil and more importantly 'no unwanted arguing for boosting your ego here'. Please!

 

[MBC]

Quote from kinggyppo:

then I would suggest working thru the book "the Logical Trader" and making the system your own or laying the aspects that are appealing on your own system. Some keys points would be that an A up/down etc is not the holy grail but a reference point, taken with price action/tape reading creates a powerful method. There has been quite a lot of discussion about reversion vs breakout, a major issue for trading intraday.

This is why site is terrible waste.

Only a couple "pages" ago I told Maverick that I know ACD well, and I have a method and am looking for more.

More generic useless advice.... BUT, its a result of this thread jut being a thread rather than an organized means to communicate without the loons.

 

[Brass]

Quote from Maverick74:

Yes, price action takes precedence over confirmed A levels. No way in hell would I just take a confirmed A trade blindly without price action. The best trades are the ones that confirm against the news. In other words, bad news in the financial sector but XLF confirms an A up. That is a solid trade.

Please read my post again. I did not suggest taking a confirmed A trade "blindly without price action." Note that I wrote, "...under what conditions would you not act on such a clearly defined and confirmed breakout, in whatever manner that you do, on its face alone?" (Underlined here for emphasis.) I'm saying if you had the kind of price setup you're looking for, specifically, a confirmed A following a tight range, and then price did whatever else you require it to do (i.e., your own personal definition of suitable "price action," whatever it may be, in that particular instrument), then under what conditions would you NOT take the trade because of some news or other intermarket relationship that you make it a point to study during your 60+ hours per week? Is that more clear? If so, then please try to be as specific as you can in your response. An example might be useful to illustrate the point.

 

[gmst]

Quote from Brass:

Please read my post again. I did not suggest taking a confirmed A trade "blindly without price action." Note that I wrote, "...under what conditions would you not act on such a clearly defined and confirmed breakout, in whatever manner that you do, on its face alone?" (Underlined here for emphasis.) I'm saying if you had the kind of price setup you're looking for, specifically, a confirmed A following a tight range, and then price did whatever else you require it to do (i.e., your own personal definition of suitable "price action," whatever it may be, in that particular instrument), then under what conditions would you NOT take the trade because of some news or other intermarket relationship that you make it a point to study during your 60+ hours per week? Is that more clear? If so, then please try to be as specific as you can in your response. An example might be useful to illustrate the point.

Brass, First good thing - you are asking good questions, but it will be helpful if you can ask questions more nicely. You are coming too direct and looking at that you have just joined ET and you are communicating with a 15yr+ trader who is also a ET veteran, it doesn't hurt to have a bit more humility in your questions. Not criticizing you but just telling you what I felt after reading your questions.

To be bluntly honest with you, Mav or anyone else is under no obligation to teach you or me or anyone else anything here. And trust me, if you meet v. successful traders in real life, more than 80% of them won't bother even talking to a trading newbie or one with 2-4 yrs of experience. That is the personality of highly successful traders - they are cutthroat competitive people and want to eliminate as much unproductive talk/things from their life as possible. If you don't believe me try contacting/sending emails to traders who work at IBs (GS/JPM etc) get their emails from linkedin. I bet you 95% wont reply even to nicest of your email.

So, it will be great if we can be a bit appreciative of what Mav and other successful guys are doing here - by devoting some of their time for others and answering questions.

Again, please don't take my post in a negative way, I am just trying to keep the thread more civil and everyone more humble.
Cheers!

 

[gmst]

Quote from MBC:

This is why site is terrible waste.

Only a couple "pages" ago I told Maverick that I know ACD well, and I have a method and am looking for more.

More generic useless advice.... BUT, its a result of this thread jut being a thread rather than an organized means to communicate without the loons.

Yes, a more organized thing will be good - Obvious suggestion that comes to mind is you get into an office with like-minded 2-3 guys and work as a team. Share every strategy/idea and build on it. Grow together. 2nd way could be become a lone wolf and develop everyone yourself sitting in your trading room/office in your home. An internet message board has limited usefulness.

Also, you should leave this site, if you don't find it useful. I am serious here, not criticizing you.

Many guys don't find this site useful. Read the link from a very successful trader who used to post earlier under the handle "cutten"

http://www.elitetrader.com/vb/showthread.php?threadid=173620&perpage=6&pagenumber=1

 

[Brass]

Quote from gmst:

Brass, First good thing - you are asking good questions, but it will be helpful if you can ask questions more nicely. You are coming too direct and looking at that you have just joined ET and you are communicating with a 15yr+ trader who is also a ET veteran, it doesn't hurt to have a bit more humility in your questions. Not criticizing you but just telling you what I felt after reading your questions.

To be bluntly honest with you, Mav or anyone else is under no obligation to teach you or me or anyone else anything here. And trust me, if you meet v. successful traders in real life, more than 80% of them won't bother even talking to a trading newbie or one with 2-4 yrs of experience. That is the personality of highly successful traders - they are cutthroat competitive people and want to eliminate as much unproductive talk/things from their life as possible. If you don't believe me try contacting/sending emails to traders who work at IBs (GS/JPM etc) get their emails from linkedin. I bet you 95% wont reply even to nicest of your email.

So, it will be great if we can be a bit appreciative of what Mav and other successful guys are doing here - by devoting some of their time for others and answering questions.

Again, please don't take my post in a negative way, I am just trying to keep the thread more civil and everyone more humble.
Cheers!

I didn't think I was being disrespectful. The post you quoted was a clarification of my earlier post because Maverick74 and I were apparently not yet on the same page. In such instances, I would think directness and succinctness best serve the purpose.

I do not wish to disrupt the flow of this thread, nor do I wish to gain access to any proprietary material that Maverick74 may hold dear. I do not use the ACD method, nor do I plan to do so. Rather, I am seeking clarification on those very subjects that he has already addressed time and again in this thread. And as I noted in my earlier post, I am looking to see if we can conduct a little distillation here, by possibly separating the need-to-have from the nice-to-have. I would think it would be a useful exercise. And it would satisfy my curiosity. However, if I am ruffling feathers in any way, then I can make myself scarce.

 

[RCG Trader]

Quote from Brass:

then I can make myself scarce.

Then do that.

If you do not plan to use ACD, then why would you be posting here?

This is coming from someone who disagrees with Mav on a host of things, because we are both vets. I rarely agree with him.

But Mav puts big work into this thread. He is teaching people things they would not already know, and he is generous about it.

So if ACD ain't your thing, then there is no need for you to post here any further. If you do not have an interest in ACD. You should not post in this thread.

Start your own thread. Who knows, we might post there

 

[Brass]

Quote from RCG Trader:

Then do that.

If you do not plan to use ACD, then why would you be posting here?

This is coming from someone who disagrees with Mav on a host of things, because we are both vets. I rarely agree with him.

But Mav puts big work into this thread. He is teaching people things they would not already know, and he is generous about it.

So if ACD ain't your thing, then there is no need for you to post here any further. If you do not have an interest in ACD. You should not post in this thread.

Start your own thread. Who knows, we might post there

I find it interesting that you don't see the point or value of clarification, especially if you do use, or plan to use, this ACD method. Would such clarification take away from "Mav's big work in this thread" or might it actually add to it, especially if such clarification came from Maverick74 himself, which is what I had requested. Very interesting indeed. You are the second poster to have taken some issue with my inquiry, regarding either content or form, despite my effort to be respectful and, in my opinion, useful.

Yes, perhaps I have overstayed my welcome in this thread. I am more interested in critical discussion for the sake of better understanding, even if that understanding is for its own sake rather than for my own personal application. I will leave the cheerleading to you. Have a nice thread.

 

[MBC]

Quote from Brass:

I find it interesting that you don't see the point or value of clarification, especially if you do use, or plan to use, this ACD method. Would such clarification take away from "Mav's big work in this thread" or might it actually add to it, especially if such clarification came from Maverick74 himself, which is what I had requested. Very interesting indeed. You are the second poster to have taken some issue with my inquiry, regarding either content or form, despite my effort to be respectful and, in my opinion, useful.

Yes, perhaps I have overstayed my welcome in this thread. I am more interested in critical discussion for the sake of better understanding, even if that understanding is for its own sake rather than for my own personal application. I will leave the cheerleading to you. Have a nice thread.

Just more frustration I know...

 

[Maverick74]

Quote from MBC:

Just more frustration I know...

Can you kindly explain where your frustration is coming from? You said earlier you don't want people putting their trades out. Then you said you did want them to with more detail. Then you said you want more discussion of the method. I have put over 500 pages of in depth explanations of the method. In fact, I'll argue there are more details, more explanations, more examples of this method on this thread then any thread existing now or have ever existed on the history of this web site. So where "exactly" is your frustration coming from?