I was referring to the bars whose close confirms entering a trade. When they are long, I think it might be an indication of the beginning of chop, Or already a half exhausted move, etc. Talking only about the confirmation bars(this time).
If you are a trader who likes//needs to see closed confirmation bars, long ones may cause stops to be too large as well. No biggie, always more opportunities. ~Cx
No one puts a gun to your head and forces you to trade. If there is ANYTHING you don't like about a particular trade you do not take it. And if it happens to work well after you skipped it, it is your duty to make sure it does not affect you. That's how a professional thinks. Anek
AHG Analysis for NQ It was a hard day to trade but as soon as the trend decided to show it's face one trade made the day. Sitting on your hands and taking small losses was absolutely quintessential today. Also examine the Double B failure and how the element of surprise rewards traders. Small losses Break evens Small wins Great wins ....only way to beat trading. Hope it helps. Anek
A little off topic, but did anyone else who uses IB for data get a change of margin requirements message today around closing?
With permission from "Josh". This makes my day. "Anek, Thank you for the journal. I have been an avid reader for many weeks now and I finally understand what this is all about. Your system works, it's golden, it just takes time to understand the rigid but important rules and then again there is that discipline you speak about all the time that cannot be taught. Since I started using your rules on the DAX and I've had 14 winning days (all ranging from small to best ever) and 4 small losing ones. You are so right, identifying the chop is most important, it is our only enemy. I'm shy so I never post but Im appreciative and grateful so thank you very much for your time, hard work, commitment and for teaching me and the rest, the way to profitability in the world of trading. Enjoy your well deserved vacation and feel free to post this on the journal. Eternally grateful, Josh" This merits a couple of stouts, like if I needed a reason! Anek
You have // earn any more stouts, you are going to turn into one . Quality. ~Cx P.S. Don't be shy to post in the thread Josh. These are all quality people here. I'm sure everyone would be glad to pick up another trader with class. Besides, lots of NQ & ES talk but not much DAX. Bet you could teach us a thing or two .
I would also like to invite Josh to join the crowd in this thread, perhaps your experience and your trades help others learn what you have learned. Plus you never know if a question you may ask might make a big difference in your trading or someone elses. Piscuy