Patterns are similar, for example the NQ is made up of a bunch of equity stocks. You could follow and trade GOOG, RIMM, AAPL, etc. based off of patterns. Its pretty much the same except each stock has a different tempo or volatility. How much of the daily average true range can your system capture. This is a question you should answer if daytrading. In other words how much of a one point move can I catch with my method and what is the risk.
I hope I'm not stepping on Anek's toes... but any method good for one market/time frame should be good for other markets with any other time frame so long as the liquidity is there...
092448: Anek.... I think you need to reach a stage where you accept the outcome no matter what because deep down you know that when you are blessed with a good call, the losers will be a thing of the past. but in order for that to happen you need the psychological stamina to stick to the original plan 092510: Anek.... Sadly I see very little of that here in the channel 092619: Anek.... Usually people lack the mental fortitude to handle several small losses without their concentration and spirit decreasing 092704: Anek.... On top of that, to make things worse, when they are right, they also lack the mental fortitute to take it all the way and stick to the original plan. 092715: Anek.... That's probably what i mean by discipline
kinggyppo, thanks for your answer re eminis strategy can be used for stocks too. thanks for your help.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ :eek: sorry - don't want to be unkind but this simply is not the case. Almost every (liquid) market has its own dynamics/temper (you name it).
Since when don't higher highs/ higher lows and reverse not work in any market? I will deffer here to those with more experience than me. From my communication with people much better at trading / smarter than me, this is what I have been told and lead to believe. Obviously, markets have their own tendencies... but general rules always apply I think. Maybe I should not have voiced my opinion as I can't really back it up with my limited experience.
I feel like I'm vicariously living my trading through the chat logs at night rofl... F'ing homework. Damn you!
What many fail to grasp, is that the principles that Anek has shared "AHG" goes far beyond the mechanics of trading a particular market, instrument, security etc... The core of AHG are the principles of Discipline, Psychology, Risk and Money Management, which in my humble opinion transcends across all markets.... Market structure (HH,HL,LL,LH), trend lines, support/resistance, pivots, key areas of interest, patterns, confirmation, etc... are the tools used to identify Market Sentiment and exploit accordingly. It is true that the market is dynamic, and that each marget segment, instrument, security etc... has its own traits and characteristics. One must familiarize him/herself with these peculiarities and adapt as appropriate. The tools may change and adjustments made, however, the basic principles remain steadfast.... Hence, imho the essence of AHG can be applied to any liquid market... Prepare well, plan well, trade well, be well... hwk
Just want top clarify what I just read in this chat log - When A talks about "first wave is for newbies" he's just saying not to bail on a trade too soon - that the first retracement is just first pivot and to stick around and wait for a real break of trend? Could someone post a chart just to clarify a little more for me? I understand much easier when I can see things as opposed to just reading. Thanks for any help! And thanks Brutus for continuing to post the logs!