Haggerty Entries

Discussion in 'Technical Analysis' started by Maverick1, May 7, 2003.

  1. Maverick1


    Are there any traders on this board using Kevin Haggerty's entry techniques, and if so, with what degree of success?

    The ones I have in mind are the opening reversals, 123s and slim jims.

    Thanks for your ideas and comments,
  2. Maverick1


    So no one uses 123s etc?

    That's interesting.
  3. I took Haggerty's course a few years ago, and I guess I have tried every strategy he teaches. Doesn't work for me. To put things in context, I trade futures now, and perhaps his system just didn't fit my temperment? My opinion today is that stock selection is much more important now that trading is in decimal. Looking back, I don't think Haggerty's money management skills were all that good. If you have to trade equities, I guess I would look into David Floyd or Miller at TradingMarkets.com. I think no matter whose system you look at, your gonna have to tighten up your exit strategies, money management and bet sizing skills. None of these guys have that down in my opinion. Regards, Steve46.
  4. Maverick1



    Thanks for your comments. Did you try one specific entry technique or multiple ones? I haven't taken his course so I'm not too sure about which ones you may be talking about.

    I've also wondered how they could be used with stocks given the extremely tight ranges, even the SPY sucks in that respect for me. With the futures, that's a different story, seemingly.

  5. Maverick1


    Seems like most people around here are trend followers, I know many use ORBs and other variations on that.

    The lack of replies in this thread seems to suggest that there just aren't many reversal traders here on ET.

    Is that right?

  6. I think the problem is that Haggerty uses his own terminology that is impossible to follow unless you have takenhis courses. Most of us haven't, hence we don't pay much attention to him. I was a TM member for a few years, and frankly, I got very tired of his routine every morning to the effect that "yesterday was just such a dead certain xyz123qzp setup, blah blah blah..." It was 90% bs in my opinion. Maybe he calls them realtime in a chat or somewhere but doing it the next day doesn't cut it. Another problem is he uses so many different concepts that one of them is bound to be right. That is the one he points to the next morning.
  7. I trade reversals but you are correct , there is not many reversal traders to begin with, even less here on ET . If you post that you are looking for reversal traders, you might have more responses .
    I never loked at Haggerty.
  8. Maverick1:
    I did (and continue to use) reversals, and and 123 ocaissonaly however I find them difficult to implement. Some of the concepts are embedded in my mechanical system, and there they seem to work better. Could be that I didn't have the right "temperment" for his program. At this point I am having more success with S/R and volatility breakout. Steve46
  9. Maverick1


    Thanks for your replies everyone.

    Walter I'll probably start a thread seeking to get reversal traders to share some of their insights, but not now. You kind of confirmed my intuition.

    Steve, glad you are having success with s/r and vol breakouts. I do think simplicity is the hallmark of mastery.

    AAA, yeah I wish we could have some idea of how well Haggerty does for himself. Making calls ex post really doesn't cut it. But it seems the guy is legendary so I'll give him the benefit of the doubt. Apart from Steve, seems no one has taken his course or seminar, so there's no way of knowing how good it is in real time.

    Trade safe,
  10. Haggerty is the master of 20/20 hindsight bravado, which makes me believe he's full of shit. We tested all of those simplistic patterns, and they're marginal at best.
    #10     May 8, 2003