Focus on the finish line, you never get there.. Lose yourself in the process, the finish line approaches before you know it.. Finish line being successful trading.. Nothing good comes easy.. I like FX for one reason.. You can trade very small, and gain confidence.. This you can not do in futures..
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The ACD Method
- Thread starter sbrowne126
- Start date
Focus on the finish line, you never get there.. Lose yourself in the process, the finish line approaches before you know it.. Finish line being successful trading.. Nothing good comes easy.. I like FX for one reason.. You can trade very small, and gain confidence.. This you can not do in futures..
Quote from koolaid:
Mav,
Speaking from experience, does NFP/FOMC or major news event make you hesitant to initiate a new position even when ACD is confirming?
I would not initiate a new position EXACTLY ahead of a binary event. More often then not, ACD triggers signals several days before hand so you often get a nice cushion going into large volatility events. What I do like to do is if I did get a signal ahead of such an event and that event creates a counter move to the signal, I use that move to enter on the fade.
Quote from Maverick74:
I would not initiate a new position EXACTLY ahead of a binary event. More often then not, ACD triggers signals several days before hand so you often get a nice cushion going into large volatility events. What I do like to do is if I did get a signal ahead of such an event and that event creates a counter move to the signal, I use that move to enter on the fade. [/QUOTE
Like the current down/counter move in Es ahead of the numbers?.. Fade and go long
Quote from cdcaveman:
Quote from Maverick74:
I would not initiate a new position EXACTLY ahead of a binary event. More often then not, ACD triggers signals several days before hand so you often get a nice cushion going into large volatility events. What I do like to do is if I did get a signal ahead of such an event and that event creates a counter move to the signal, I use that move to enter on the fade. [/QUOTE
Like the current down/counter move in Es ahead of the numbers?.. Fade and go long
Nah I think Mav meant that if ACD confirmed long and the event spikes it down..then you go long and fade the event reaction.
Quote from koolaid:
Nah I think Mav meant that if ACD confirmed long and the event spikes it down..then you go long and fade the event reaction.
Sorry for the late response. Yes, koolaid is correct. Remember, price does not invalidate trades, time does. So sharp movements in price against a signal do not invalidate them. So if you get a buy signal and a spike down after, especially on some random news event, that's usually a gift you should accept.
Quote from Maverick74:
Personally, to me, the whole idea behind trading is selecting the right product at the right time with the right size. This is why I "avoid" chop and noise and focus on things that are meaningful. Some people just want to trade oil or nat gas or the ES or TSLA. I never understood that. One has to endure the absolute worst of conditions to get to the best conditions. I rather focus my time and effort where there is the least amount of traffic and get in on "rare" moves. This is what ACD does for me.
Great Post!
If you are able to follow that logic, and cut your losers and let the winners run...that's the holy grail of trading