I absolutely agree that this should be the way to go. Thanks. I just traded your method for a few days (afternoon hours) and found the entry signal very usefull to trigger trades. Again, thanks for sharing.
Interesting ! You mentioned longer term chart and big picture. From your experience, what kind of timeframe is relevant. Chiu
I don't want to contradict what Anek recommends so I would look at his settings for longer term charts first. However, to answer your question, I know people that use a minimum of 3 times their entry chart setting and others that use a chart 7 times slower than their entry chart.
Wow this is soooo true... I must admit I have had that feeling of "losing" money when NOT in a trade --- just plain wrong and counterproductive.
I think I have a positive outlook on life in general. You may get more money chasing the trading dream, but what do you give up? Half of the guys I've heard from are divorced with no money. Is it because of trading maybe not. But lack of focus of relationships for traders, the chasing the dream attitude at all costs attitude, just another month and I'll make it, if we just sacrifice a little more..... can aid in your lifes destruction. I've said it before. If I didn't have a life to lose I would probably see this through to the end. As it stand two years of commitment is long enough. My money situations won't get better with out making some. for the guy who programs yellow lines at Football games. I like! Here's a question. What have you done to get away from where you are? You've made a good income for several years now. You didn't mention a family. You should be well capitalized now and with very few strings. I'll assume you took all the advice from your grandfather to heart and have prepared your life to achieve this next level of independence. No? If you don't have all the above going for you what state will you be entering the trading field with? You don't have preparer capital to start a business. You are used to making 40,000 and spending 40,000 a year. You don't have much else in your life to cushion the blow of major failure and tell you your still an okay person. C prof. You have mentioned 3 guys on here you look up to. Ask Anek how many hundreds of people he has known in his journey to profitability. I would lay a bet the he still only has tabs on a couple that have made it. Most of the others have melted away. Read his posts. He's working very hard and hoping to help a couple of the dozens of hopefuls that look up to him to make it in this business. My views on trading are there is a ton of money that can be made, there's a ton of money that will be lost. There are very very few that will make money. Any thing that hinders your confidence or increases your worry about being able to trade will cause you to lose. If you are not prepare completely you will fail. Have the dream of trading. Start today to learn the steps to get prepared. For most people entering this field it would mean actually saving up the money to be able to start and support your self while you chase the dream. Instead of reading about life ask a bunch of 90 year old what was important and how to have a good life. I'm sure they will all direct you to a motivational preacher that says if you dream a good life, there it will be. got to go real life's a callin.
You know I tend to agree with a lot of what you are saying , Loser. But the fact that separates myself from you is the compulsive/obsessive diatribe you continue to preach about losing and how only 5% will make it and nobody can succeed ,blah blah blah ec.... OK most of us know that 95% of Future daytraders will fail. Thats more or less a fact. Ok !! We know this , you know this, Anek knows this, hell the Pope even probably knows this too, so lets not keep beating a drum over and over again. What it comes down to in ones Life is this. What gives you ENRICHMENT and PEACE. Thats the bottom line in Life!! Thats it. Nothing else. Nada !! Everything and anything can be categorized and summed up under these two words. Everything you do, everything you aspire to be ,every relationship you get into ,every goal you set, every human life you bring in this World , everything you do from the time when you wake up in the morning and go to bed at night, (just plain everything) can be centered around these two important principles and your desire to attain them to the highest degree. For you , having your family and attaining security thru avenues like a regular job and having a boss is probably the most enriching thing for you to have. If thats your thing more power to you. Sincerely !! For me personally, when I am 90 years old I do not want to look back in my Life and say, "Damn what if I had just tried a little harder at that Trading thing maybe I could have attained that Life that I so desired and that could have giving me soo much enrichment and self fulfillment. Oh well too late now since I am ninety I will never know. " No thanks I dont want my Life to end like that. Look its fine that you want to proclaim your feelings about your views concerning Trading as a occupation and all the terrible pitfalls and ramifications. But just remember what you may see as a Rewarding Life may be totally different than another human being's idea. And your right some ,if not many ,of these Traders will stick it out for a couple of years only to find out that they cannot make it. But you know whats strange?? I will reckon in the grand scheme of things they probably found more enrichment and more developed self confidence in that journey more so than being at a 9 to 5 job hacking away with so- so pay in those couple of years !! I totally commend the dozen or so guys on this Thread who are giving it there all to make this a Reality. I say this with trepidation because I know there can be a lot on the line, including marriages, mortgages, health etc..etc... But remember this: Life is sooo damn short. And I dont care what anyone says the truly greatest Rewards are the ones where people had to put there Balls on the Line. Not just one time ,but many many times throughout their Lives. These winners separated themselves from the losers because they continued to get up and get back on their feet time and time again. They NEVER quit !! And to people like Loser I know this sounds like just the typical mumbo jumbo cliche . But do you know why this stuff become so cliche in our culture ?? Take a wild guess ?? Uhmm could it be that maybe, just maybe it has rang so True throughout the History of our World and the Progression of Mankind itself ??
Hi All, I'm looking for some help in analyzing today on the ES. Attached are two trades, but there was really only 1 trade today that I saw as a potential AHG (the second on the chart) I see today as mostly just chop. On a positive note, using the AHG method on the one trade allowed me to exit with only a 0.5 tick loss.
Hi there 99, The reason why so many fail at this game is because they simply do not understand it and see it for what it really is. Year after year they sit in front of a screen(s) drawing colourful lines and writing complicated codes in the blind hope that success will suddenly fall upon them. Oddly enough, I believe the screen to be a serious hindrance to clear rational thinking. regards f9
Hi Back, First trade...after your entry, price moved in your direction, pulled back and managed another higher high of only one tick. With the ES, that is a double top....one of the best shorts in the business...as soon as you saw that or suspected it, you should have exited the long. Just remember that on the ES, a one tick difference between a couple of bars is the same price....for chart analysis purposes anyway. Second trade...same comment as the first trade however the biggest error was failure to realize you were buying into overhead resistance...look at the support pivot at 72.75 made late yesterday afternoon....it was strong resistance as we came up from below...waiting on a short was the better trade or at least seeing if price could clear resistance before considering a long... That's the way I see it anyway... Best Wishes
Good points. In this market, i shouldn't just be holding on, waiting for the HA bars to change colour before exiting. Thanks for the advice.