RCG, a couple of things here. I don't own this thread or control it, but these are a few suggestions. I've been trading for 15 years and I have not once met a profitable trader that EVER tells people how much they make on trades either % wise or dollar wise. So it's best not to make comments like that. It's also poor etiquette for a trading thread. Second, this thread can be anything it wants. If people want to post trades that's wonderful. But in order to keep the thread clean and the trolls out, do not post anything AFTER the fact. Traders want to know what you are thinking BEFORE you make the trade and the want to watch the trade play out. I just want to keep this thread clean. It's only a matter of time before the trolls smell this thread and come in and start posting crap all over the place about how much they make or some great they made, etc. Having said all that, let's keep the quality content coming.
Thanks, I appreciate it. This framework seemed very natural to me when I read back over Fisher's book, glad I went back over it
Does anybody know if there is an indicator for ACD in Thinkorwim? I've been searching, but no luck. Even something as simple as a pivot range indicator would help, so I don't have to calculate and draw them out every time. Any help would be appreciated
Well congratulations Mav you just met your first one! I don't worry much about trolls in this thread because of what ACD requires. If the average trader could do what turns out to be so simple that I feel a bit dumb for having not thought of it before, then every trader would be doing it. As far as what I am thinking BEFORE the trade, I just told you. Look for bars that comply with good A thru the pivot. For some reason, the price action of this setup causes good follow thru. That is just a starting point tho. The trader still has to decide what to follow and what to allocate. That said, congrats again on meeting the first profitable trader who posted a percentage gain.
RCG...there is a strong correlation for one's desire to boast and things they are lacking in their life....but I'll leave Dr. Freud out of this. LOL. Congrats on the trade. What I meant, was not saying something like get long on good A ups through the pivot but rather, watch this EUR/JPY as it's about to break out. This way others can FOLLOW the trade and offer their opinions on the trade. Not to counter your views but rather to show how all of our levels are basically going to say the same thing. Good work on the trade RCG! (Wish I knew what the trade was...)
Ohhh, okay, I see my mistake. No this was not one trade. It was about 10 trades. I get it. But I have never been good at doing the journal thing. So what I came to convey is that if traders look for this kind of PA then it is probably a good trade. I did what you and Fish suggested and started following a lot of pairs and taking only those setups that met what I think a good set up is. A tremendous improvement in my account. My biggest win was a 5 fold increase in twenty days, but of course I could not hold that because it was discretionary and had no real method. Now, I have a solid increase with a method with concrete rules. Any trader with experience can do better than a bank, and this is step one. But what I do is I check pairs for a price action setup based on ACD. It has two bars to play out. If not, next trade. I follow all of the world economies, so it is a bit hectic. There are other nuances as well but the basic premise is that good price action is the good A thru the pivot. If traders focus on that, they will make money.