Trading YM with AHG. Blue arrows = buy Red arrows = sell Martin P.S. Today was a very narrow range day.
There are some useful and many useless threads, it's totally normal, the same way as our trades that we had placed. This one is the most useful thread and we should use it for reference, therefore ET still stand for its name. Obey this method carefully, and we never afraid of going astray.
For those trading strictly AHG-style, is it common to adjust the entry chart or add additional filters as opposed to simply using 3br/time and sales as entry? Using a 1k volume chart as an example, below-average volume days with ok volatility seem to create no clean waves and many long-bars. This week was perfect AHG-style on the NQ anchor, but the entry chart was far from clean for the most part. Just trying to enhance entries so I don't miss a good anchor setup, not reduce losses.
If that's the case, and you simply must trade it, you can try adjusting your bars downward until you have eliminated the "long bars". This might be for someone who is a bit more advanced, but you might want to go over some back data and see how you might be able to adjust. If you adjust down and you simply get long rows of up volume bars, that tells you something, doesn't it? When the buyers came in there wasn't much to stand in the way, but people were covering quickly as well, and price never "caught fire," so to speak. Whenever you have low volume days with some volatility, your price action will not be as clean. Caveat emptor. Being selective about the type of day I trade has made a huge difference in my P&L, and it might be the same for you, especially if you are trading waves. I tend to find I do best on days with orderly range expansion, as I'd suspect most followers of an AHG type strategy do. The bolded words will kill you if you aren't careful. If you miss a setup, who cares? There's always another one. This can cause you to force entries and get bad trade placement.
Anek Thanx for your continued participation in this Thread. here are my impressions of the AHG version 1 for 9h30 to 10h15 ESt period on tuesday 10 June 2008. My take on them is this: We need a higher high after a lower high to kick in an uptrend. Therefore the high marked pivotal high marks the change of trend direction: 1. The higher low of 9h35 provides the first long trade, as we enter long after the hl. 2. The hh at 9h37 provides another opportunity to enter, provided market comes down to give a hl. Anek;s definition of uptrend is higher low. So we scale in to the long position and take another trade at 9h41. 3. the lower low at 9h47 gives a little bit of heartburn, as violates the uptrend and seems to cause a change of trend direction for shorts. however, after the lower low, we take yet another long. We exit all longs at the failed 3br at 9h52. 4. the lower high at 10h01 officially kicks in a downtrend, and we take a short once confirmed with a 3br. 5. the ll at 10h03 confirms serious downtrend in place and we short again after the lower high. The break of DTL provides an alert to get out of the shorts, and either to go long, without a valid confirmation via a higher low, or to stand aside. This chart is based on a 50cciturbo template for ensignsoftware.
NQC, My initial goal with the journal was to help out newcomers. I believe I provided some ground rules and basic methods to get you on the right track, now I'm retired from the journal as I have taken the teachings more seriously and into a closed community. I took a group of hard working journal followers and expanded the method to such degree that it's now tough to go back and catch where I left here, even tougher and near impossible to allow new members, as we are several phases above this journal now, private forums, etc. Think AHG2, AHG2.5, AHG3 and beyond, no joke. Everyone is forced to work hard in order to have the privilege to continue to be part of the channel and as they progress in levels (levels based on weekly/monthly performance) they become assistant mentors to others and so forth. The principles remain the same, highs, lows, trendlines, no indicators but we have added volume, specifically the teachings of Wyckoff to improve our accuracy. Naturally this is way too time consuming for me to continue here, plus there is also my personal trading which I obviously continue to do since everything I do I do for free, plus family, etc etc. If there's anything extra I can post to help I think it's the fact that you should think of uptrends as resistances becoming supports and downtrends as supports becoming resistances. This is pretty much the golden rule for trend determination as several factors throughout the trading day, including volatility and low volume can produce what might seem like a LL in an uptrend or a HH in a downtrend. In the end, it all comes down to support and resistance, supply and demand around key pivotal levels and how price afffects what once was support and what once was resistance. Hope it helps and remember, nothing replaces screen time, it is by far the greatest tool. Anek
Thanx Anek. I really do appreciate the little teaching that you provide, as well as your toughtfulness in guiding me. If it allows, I think I will post my charts, and hope that you can disssect them, and let me know where I am making mistakes. I would learn more from your comments, than sitting with million noopies who r confused. Honestly, I really missed the camederie in the liveroom, especially talks on movies and topical issues outside trading hours. You are also one of the few leadtraders, if I may, who will sit during off market hours, and have chat yesterday's setups with the entire room. Again, if u can analyse the prior chart and comment, I had be more than grateful. We may find a way of running #AHG1 a little more actively, so that with time those proven capable, can graduate to the main room. Thanx Mr A-doten!