B, Piscuy trades this setup a lot, I'll ask him to please reply to your post as this is not a setup I like to trade. Anek
Exactly Mark. I particularly agree with your last assertion. And there have been blatant condescending remarks directed towards people who came on here and professed that they use Time based charts !! It was like when they came in here and said this others were saying "what you use time based charts well Anek said not to so you are a screwup etc..etc.. or to some extent like that. Unbelievable !! Well I will tell everyone right now that I prefer time based Charts . So there crucify me if you want. I know at least 30 other full time traders who do the same. And for reasons exactly spelled out by Mark from above. Like he said and Anek has said whatever works as part of your overall arsenal. Just do it.. And dont let fellow traders tell you otherwise !!
Whatever makes you a better trader. Time based charts RSI MACD CNBC Fading the trend ...ok lets not get carried away Anek
Hi BM The setup that u are talking about is the most Natural setup i can spot/see. Its so easy IMHO to see this setup. You posted a while back(atleast I think it was you) about this being like a Vacum setup (like the area's that have no S/R IMHO) I can see this setup everyyday. The pro/con i have with this setup is as follows: CONS 1. The setup stop is very large if u go to the last swing H/L. 2. The setup target is Undifined (we already past last support on a short) so the only options is using last bar H/L , pre defined target, or some FIB extension of some sort. 3. because of #1 & 2 i think the end result is that the R/R is not all there for alot of traders such as anek. PROS 1. When this setup works it seems to fly up or down fairly fast due to not having s/r and due to the fact it just broke the prior s/r with the trend 2. i do belive and this is not tested that the acuracy of this setup is fairly good compared to others 3. My eyes see this setup and recognize more then anything else. BB
I'll try to post more on this tomorrow. There is different ways to trade it. Just to make sure and to use the same chart your using whats the date of the chart? thanks. P.
Someone asks me how to extract Anek, Piscuy and Mark1 (obviously three of the popular experience traders here !) quote. I have to research a bit, yes, it can be done with the same grep command with additional option. The command is as follows : grep -E "Anek|Mark1|Piscuy" ahg_othernet_20071214.txt > anek_071214a.txt Note : The above command is case sensitive, observe the blank space as well.
Lately I have been searching for a good auto trendline code but have not found anything worth keeping on my screen. This got me thinking that there might be a good way to do it. After posting the pivot entry in which I used the .eld to mark pivots I started thinking that this might make a good auto trendline indicator. The problem with most of the auto trendline indicators that I have found is that you can make them more or less sensitive. This code for the TTM Scalper alert does not require any settings for sensitivity which makes it robust and interesting. The real problem is that I have not been able to code the trendlines to make this work. It might be an interesting tool for all traders so this is a call for those with coding experience that would like to give it a try. Hopefully for all of our benefit someone manages to do it. I am attaching the code for the TTM Scalper alert and a Screen shot of how I am visualizing these trendlines. Lets see if it inspires someone. P.
Thanks. The stock doesn't move in rhythm with the overall market flow though. It moves on its own news and in rhythm with other biotechs. If you have a charting service that gets you the industry chart, you will see what I mean.
OK Anek, Time for intervention... please slow down on the stouts... it is beginning to cloud you judgement...