ER2 Update Trendline break, rounding tops, closing the trade at 828.20. Will look to re-ride the ER2 bull flag on the first strategic retracement possible, if any, on a future day. Taking time off trading and the journal. Anek
First day of trading with AHG. Been reading the journal for a few days now (allmost read it twice). NQ: 2 wins/2 losses, just traded for the last 2 hours. 9t net profit. Chart included. It's a new but I understand the idea of LL, LH, HL, HH. Entry and exit is something I still need to learn. Great thread Anek, but I don't need to tell you that when I read all the comments! Would love some more detail on interpreting Time&Sales. I have been watching it in the past but never could really 'get' it.
R, I'm posting this while sneaking as I'm in vacation and wife is not too happy about trading off a resort When you are looking for a retracement in a clear uptrend you also want some sort of strength confirmation to avoid buying a falling knife or a retracement that is not yet complete. Obviously, reverse for shorts. In order to facilitate this task I suggest you wait for a bar closing above previous bar high as a sign of strength and a bar closing below previous bar low as a sign of weakness. Once again, everything with the trend. Is there a trend ? Yes What is it ? It's long Is it retracing ? Yes Has it printed a bar closing above previous bar high (strength) after retracing considerably without breaking major support or pivot swing ? Yes Where does the stop goes ? A few ticks below the strong bar should do because you can always re-enter in case of noise or fakes. Remember, I love my small stops as it is not about being right but about making money. Hope it helps. Anek
Tnx for the answer Anek, wise words once more! I hope you have a great time on vacation and spoil your wife! She deserves it! Hope I can learn and contribute to the thread!
From now on please refer to bars closing above previous bar high as Strong Bars and bars closing below previous bar low as Weak Bars. This should bring some clarity to price action discussions. Just had a nice Swiss Fondue followed by some frozen Margaritas. Wife asleep so it looks like it's Pay Per View and the ladies of Venus :eek: ! muahahaha Remember that eventhough the market could possibly continue it's rally tomorrow or even retrace it all (only God knows) after a wide range day the possibility of choppyness is high. Stay alert and be patient. The hardest part of AHG is identifying the chop and staying on the sidelines, the rest is trading with the trend using small stops and letting the winners run purely on price action. Good trading to all. Anek
Anek, am new to this thread and although I hv read a good deal of it, I could not find if you enter on stop, limits or market orders.