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smcmahon83
Registered: Mar 2011
Posts: 14 |
04-17-11 01:23 AM
Mav,
Thanks a bunch for releasing some of your tweaks to the ACD system. After calculating the prior days pivot, you don't worry about the overnight session in regards to the next mornings opening when using the pivot range? (you don't worry about the pivot becoming invalidated based on the overseas trading action is what I'm trying to say).
Something I can share that I noticed is the following:
If you're trading grains and you take an A-down or A-up, on a very good rally/selloff day you should be able to put your stop right about the low of your A-up confirmation bar for longs and vice versa.
You will get stopped out much more frequently on non-rally days, but if you are the type of person who prefers to take 8 losses of $200 each and have 2 winners of $1400 each this might be a better strategy as opposed to using the other side of the range for stop loss.
Also on grains, round numbers do well for exit points, and they should also be paid attention to for entries. For example, if I have a 10 cent opening range on beans, and my A up is at 1358, despite the A up being hit, I will put my entry above 1360 knowing that their could be resistance at 1360.
For profit targets the same idea can be used. If I take an A up at say 1335, and then price breaks clean through 1340 I will stay long. Lets say there is only an hour left in trading and price is up to 1347, unless the market is showing tremendous strength I will look to take profits at 1349.75. However, if I am comfortable that the market will continue higher, I may just put my stop loss right at 1340 so I will lock in profit and have a free trade for the rest of the day.
I'll share more stuff if others besides Mav also make worthwhile contributions.
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Maverick74
Registered: Mar 2002
Posts: 17324 |
04-17-11 04:55 AM
Quote from RedDuke:
Mav,
The interesting thing is that decent number of my entries and exits correspond with Acd, plus few other systems.
Are we all doing the same thing with different flavors, I wonder? 
Regards,
Red duke
P.S. I guess you are not going to expos these days. Was hoping to see you there this year in NYC.
Well, everyone has different variables for ACD so you must be using some generic numbers. LOL. Just kidding.
I haven't been to an expo in ages. I'll probably come up to NY this summer. Should I organize an ET get together? I was going to come up for Surf fest but the event has been discontinued. 
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RedDuke
Registered: Feb 2005
Posts: 2499 |
04-17-11 02:01 PM
Quote from Maverick74:
Well, everyone has different variables for ACD so you must be using some generic numbers. LOL. Just kidding.
I haven't been to an expo in ages. I'll probably come up to NY this summer. Should I organize an ET get together? I was going to come up for Surf fest but the event has been discontinued.
That would be great. Let's try to have a gathering this summer.
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elwoodygold
Registered: Mar 2011
Posts: 7 |
04-18-11 04:49 PM
Hello, may I ask what do you think is the best software to go with this system ? I have an old metastock that I have to change ...
thank you !
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kinggyppo
Registered: May 2006
Posts: 5836 |
04-18-11 06:00 PM
Quote from Builder17:
thanks king. didnt he basically say the run in commodities should not stop? even though it should with FED announcement/talk of no more QE.
His main point is that the fed's balance sheet is so large that they will be able to monetize the debt easily; that is that there is so much paper/yield being rolled over it creates a permanent QE so to speak, which is inflationary, also I think its important to understand the underlying mechanism of how the fed actually increases money supply etc., this takes some study but will give you a better understanding of what's really going on. I don't like the Oliver Stone approach to the markets, basically most of what the fed is doing is right out in the open, the price of gold says alot about where we are with inflation. I have been thinking alot about this and my guess is that long bonds (price not the rate/yield) is a smart move, I would not be surprised to see some negative macro event take attention away from qe ending, the result of this being a flight to safety, that will put a bid to treasuries in short order. Good trading.
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