Piscuy, "Hopefully in time you will see the value of price action and the probabilities it gives you, till then use the indicators as reference but always trade price action" ... that would be the very practical approach for me for the time being until such time as I can do without the indicator reference. Thanks for your words of encouragement. Best regards ~ave
Anek, Care to commend on my chart. I don't have NQ, this is QQQQ on 09/14, it should be close to NQ. It is 1 minute HA candle chart. time based. Thanks, freewilly
I guess you didnt see the question in that post - my bad. If you dont mind giving me your insights I was wondering (if this is not off topic): Specifically for daytrading... 1) what did / would you look for in a stock to trade it with AHG? high volume? multiday trend? high volume breakout? 2) If you weren't trading the indices, would there be stock(s) you would trade? 3) Did you successfully avg up while stock trading? Any AHG tweaks on doing so ? My goal is to trade several uncorrelated stocks with an avg up strategy and it seems like the best way is with AHG or a variation thereof. the Q's and especially the SPY's are too expensive for small lot learning trades and i'd ultimately like to move from one stock to another until i found a great multiconfirmation setup. Thanks!
Anek, any value in drawing previous days OHLC on one's chart? And, if so, should I use Close or Settle price? Thanks! Ian
I, It has been a very long time since I did equities so I'm not sure what to suggest at this time. Yes, definitely look for high volume, nasdaq based (4 letter ticket name) and look for volatility and trendiness as a whole. As far as averaging up, yes I recommend it head and shoulders above what you are doing right now but you must realize not all days are optimal for it. Averaging up is ideal for those kinds of day where the trend is just mighty strong. I can't insult you enough for averaging down but I won't because with this line alone I feel I have. Anek
Ian, Good question. There are many areas that will cause price to hesitate. Things like.... Globex high Globex low Previous close Previous high Previous low Previous open Pivot point 15 min opening range 30 min opening range S1 R1 S2 R2 Weekly Pivot ...I can go on forever. The question is, when do you stop cluttering your charts ? So one day I say, screw this nonsense, let's stick to price...... If an area is important for whatever reason you will see it as support as resistance in your chart, end of story. Anek