Einstein... what happens when you type the following into your browser: irc://irc.othernet.org/ahg edit... never mind, I see you finally made it! I just missed you there...
It takes me to mirc. I click continue. A box appears called link request. In that box is says mirc is set to connect to irc.othernet.org 6667 #ahg. When i mark the option which says"Join the channel on the current server" and click "ok" - well I was about to say nothing happened and all of a sudden I was in the chat room! Thanks very much for your help. Will try to get in again on Monday when trading resumes. Have a good weekend.
Bog, All you need is right here on this journal, the rest is screen time. I could keep saying the same thing in different ways, but what's the point. Some wanted to see me trade live, they got their wish, now they find it easier to believe and got better faith in the system. Screen time my friend and for that you don't need me. Anek
That's real nice of 'em. Take a personal, vacation or sick days Bog, experiencing it while someone more experienced is doing the trading will cut months out of your curve. Good trading, JJ
Hi all! I don't know how to post images on the IRC so I will post a chart here. I was reading the othonet log where Anek told TopgunTrader to get to know commonly know patterns...that FAIL. Anek says these are the patterns "where market orders fly the fastest". ...so I'm scalping all day making a few points, losing a point, etc...waiting for something to show up. Then I see this H&S setting up and and hoping it will fail...so I can add nicely to a modestly successful day on the ES. In Suri's Book on a failed H&S, we short/long at the break of the shoulder after a neckline rejection, with a stop above the neckline. I was just a tad early...you can tell I'm a rookie on this see chart
Anek and others, looks like a failed W at the bottom of that ES chart. Would you have taken that one and been stopped out or not? If not, why? It looks like a trendline break too. Is this one just a failure?
Fish, Check on Suri's book how he plays the H and S failures, you will see the key to the puzzle there and doing it on that play would have worked very nicely. Remember to use trendlines to gauge failures as well. Last but not least, just because you failed on the first try due to bad accuracy does not mean you should sit like a dummy and just watch it work the second time without re-entering. Anek
Hi Jack, what you see is also known as a 2B reversal pattern or "Spring" (Vic Sperandeo), you usually go long above the first bar that poked the previous swing low. Basically the penetration of the previous low failed to hold below, those who played the breakdown of the prev low, had their stop loss right above the first candle that pierced that low. So when the new low fails , the covering of those caught shorting, propels the up thrust very quickly, quickier than in a regular W formation ( with 2 equal lows) Since you don't actually wait for the break of the middle swing, as in a W pattern, but you anticipate your entry quite a lot, this results in a good R/R ratio, because your stop is very small. Thus what you see as a failed W, is actually a perfect 2B, good for at least 4 ES points Both I and Anek noticed and commented the pattern while it was forming, in the chat today If you want me to post the chart with the entry, let me know
For those who didn't notice, the 2b pattern is one of those patterns Anek is fond of. It s a pattern based on a failure of another pattern, like the failed H&S.... meditate folks ..meditate.. Around a failure there maybe be a success Be quick to change your point of view and seize the new opportunity.