AHG - Profitable Strategy for Struggling Traders

Thanks Piscuy, those words ring true.

 

Now I know why Piscuy oversleeps on a daily basis lol

Anek

 

Babe, I will try to explain in details my possible trades on your chart by marking it and if you have any question please don’t hesitate to ask as I may just jump to a trade illustration without definition..

First, I draw dotted magenta – résistance line. You might say that this line is incorrect because there were few shadows above the line. But I will argue that neither candle has closed above the line therefore it creates resistance in my belief. Then market broke the line and created new high. What options do you have? One of the trades I would take I ve marked on chart.

Look how market touched the magenta line coming from above. Excellent opportunity to go long with a very tight stop – magenta ellipse.

#3 HH would be a failed new high. What can you do there? One option is to short on a break of a low of a failed bar. I think it’s a famous trader Vic. Setup, but I might be wrong.

Your “long 1483” have absolutely correct place but different methodology. You obviously use a trend line bounce -> green bar -> break of a high. Excellent. But I have a little puzzle for you, notice the trend line and measure two swings – 1->2 and 3->4. They come together…might give you an edge.

If you looking for a correct place of an early entry I ve explained before, I ve marked it by thick white arrow and re numerated in right way by using yellow print. I want to be in a market between 2 and 3. But here is a problem:
A) If I assume that it would be new high failure, I have unacceptable RRR.
B) It was not clear new high /for me/, it was kind of double top, therefore its has different outcome
C) Here goes discretional part – look on that 10 point move and time. Market must have real steam to go higher, but Im not sure about that.

 

Morning scalps before coffee...

Small sample to get you going.

Anek

 

Anek,
I read where you left the YM for the ES due to the slippage you were experiencing. Why did you move from the ES to the NQ?
MDT

 

Personal preference.

NQ is like YM with more volume (less slippage) and better moves for my style.

In terms of volume ES>NQ>ER2>YM.

Besides no crappy CBOT.

Anek

 

Could NQ be any easier today ?

Look at it in 1500, kid's stuff.

Anek

 

I hear you man...first-hand experience with their little "timeouts". :eek:
MDT

 

Ya word is CBOT runs off a Commodore Pet

Anek

 

Never looked at NQ before, sure was clean this morning. I see margin is less than ES, but not clear on value. What is value of change from 2001.00 to 2002.00?