Now that Anek is on a much deserved break, I thought I would take this opportunity to post my notes to date for any of the new followers of the thread. These notes are not all inclusive and I highly recommend that anyone who truly desires to improve their skills read the entire thread from the beginning to end. There is a wealth of information within, the product of many years of Anek's hard earned knowledge, research and experience. I excluded excellent information, commentary, suggestions and advise from the many other contributors on this thread and concentrated primarily on Anek's comments and insight. I have attempted to include links to most indicator zip files referenced in the Journal and give credit to the respective contributors... I would greatly appreciate if those who have a collection of indicators for their respective charting programs i.e. Tradestation, Ninja Trader, Ensign, Sierra and Quote tracker, etc... could please post any indicators that I may have missed or have incorrectly included in my notes. Again, Great Thanks to Anek for all that he has shared with us. Not only has he given us a lesson in the mechanic's of Trading and a provided us with a logical thought process, but the much more important lesson of generosity and goodwill which is so lacking in our society today... I for one am not merely impressed by his skills as a trader (which are undoubtedly exceptional), but more so of his character, which if you pardon the pun "is Head and Shoulders" above the rest... a truly remarkable individual and greatly appreciated. Good trading to all and Happy Holidays...
Mark. There is no such thing as too many trades if you trade with reason. If you have a reason to enter, you have your detailed plan, you execute it as it was designed, then there is no such thing as too many trades. Overtrading is usually a term used for people who are not in controll of their trading and trade without reason (valid signal). That keeps them away from it. If you take every valid signal you get then its a different story. Piscuy
First post with a chart. I am trying to understand this W and M formation thing. Would the rectangle I have highlighted on the chart be a good W formation? It is right below the congestion area and the top of breakout is right on the 25% line of market emotion. I know the second test of the low was not exactly the past low. Suggestions on how to read this would be appreciated. Cokes
Double bottoms and double tops which are at LOD and HOD respectively need a confirmation with a second swing. In this case the double bottom/W is not at the LOD, so I would take it just as it breaks - right where you have the up arrow. A good target would be a few ticks or even a point below the previous resistance.