The ACD Method

I was reading that post of yours King and thought, damn King, well said! Hahaha. Then I saw you were quoting me.

 

Mav,

Your spread charts are ''minute charts''?
how do you do that?

Bloomberg only allows me to do daily spread charts...that's if i'm doing it right.

 

I use prophet charts. They offer minute charts. They are free on TOS.

 

Agree 100%. I am just waiting for you to settle down in your new endeavor and hopefully you will have time for what we talked about.

 

The reason , I thought we did not had a confirmed monthly A down as price did not stay below monthly A down level for more than a day. I was assuming that there will be a time filter of a week to confirm monthly A downs.


By the way, I do not trade 100 trades a day. Probably 10 trades a day. There are only 2-5 set ups a day, the way i trade.

 

Some new adds to my radar:

KO, PM

KO making the monthly today, (on my levels) and the relative strength there is awesome.

Of the sectors I follow XLP is now better than XLV, (30 day number line is -2 versus -3 for the XLV)

 

The tobacco sector has been on fire (MO, PM, RAI).

 

Like you say, we may use ACD differently, but we agree on price action

 

I have not traded GC, TF etc. But to some trading CL may look like crowded trade but the simple fact is CL offers more opportunities to trade intra day VS ES etc.. that's all that chart is showing. I would like to hear whats missing from that chart. It's not saying it's easier to trade. I do not know what easier trading is. It's just showing statistical facts. Lot of new traders want to trade /ES without knowing the risk vs other futures instrument.

So, if one wants to trade futures, at least trade instrument which has more opportunities. Mark fisher daily sheet gives $ risk amount for all the other instruments and CL always has lower risk compared to lot of other futures. He talked about in his book quite a bit.

Now, if one can not trade his/her way out of a paper bag, nothing will help, stocks, etf's , futures etc..

Again my comments are only regarding day trading.

By the way newbie trader, anyone less than 2 years experience is not supposed to make money. Linda Rashcke has seen only 1 in her career and Mark Fisher has very few per his NYMEX presentation. So lets give newbie traders a break. They get too hard on themselves (lol).

 

here is the $ @ risk amount for different instruments. Good to know RISK. I do not know how MF calculates it, I just know it makes sense. I hope traders stay away from Silver after seeing $ at risk amount. Plus based off tradeflight.com, chart silver is not a good day trading instrument for me vs CL.