Does anyone trade the SPY's instead of the ES? If so what sort of stop loss/profit target works well? I just started looking at SPY after trading stocks with S/R for a while. Great thread btw, after 2 other threads/chat rooms this is the one that finally sunk into my head of what S/R really means. Jonathan
I traded SPY before ES to avoid the initial leverage. Load 1.25 million constant volume bars and that should be fairly similar to the ES PA. You can thank Anek for the way the S/R concept was presented and the AHG guys for paying it forward, it was a "holy shit" moment when I finally realized what the heck the poor guy was trying to tell me, the rest is discipline and money management. Susana
I totally agree AustinP. For all, take a look back at the charts I posted previously in this thread and then compare to today's chart attached to this posting. As Austin pointed out, price pretty much "pinned" to these areas of interest. It's so poetic. I throw this out as food for thought for those interested. It's all PA and S/R. Take care, Tex
Thanks Susana! I recently had that Aha! moment. Amazing isnt it! What stop loss and profit target did you use? Stocks I enter limit at the S/R line (no 3bar) and give them .15 SL and .20 target, from what Im seeing on SPY .08 SL and .15 target?
You would be limiting your ratio to 2:1, why stop there. PA should take you out, not a number that makes you feel content. Susana
Yeah, you should keep your stops as tight as possible keeping in mind there needs to be enough room. Adjust stops if a trade goes your way. let your stops(or mental stops) take you out. need to have those big winners and not cut them short because "you feel content".
Great thread! One question for you AHG followers: is volume bar chart critical for AHG? I only read the first several posts of the original AHG then skipped 'cuz my charting tool doesn't support volume-bar.
One of the issues i had when i was doing eminis was that i would draw s/r areas for 15m time frame, 60m, daily, and weekly. Ended up with too many lines. Whats the highest time frame you guys go up to for s/r?
Volume bar charts are NOT critical to "AHG". If you look back at Aneks thread at the beginning he was using 89 ticks to trade with. He has since evolved as many here have......but the "core" PA "principles" that Anek has taught us work no matter which charts and timeframes you use.....Its a "personal issue"....finding what works most comfortable for you. I personally kept trying different settings on the tick charts until I found a setting that gave the price bar size and speed that worked best for me...[377 tick ES]........the setting could be 89-144-200-377-512-ANY number works as good as any other.....its just a matter of finding the best one for YOU ! I also wanted to mention "Austins post".......what he said was excellent and critical to success....about NOT "curve fitting" your method to individual trading days ....... I always have to "catch" myself ....and fight the urge to "tweak" after losing days...[assuming you already have a winning method] you look back at the days price action and think "woulda...coulda...shoulda..." And its a BIG MISTAKE ! I also try to limit what I have on the chart as far as "S+R" its so easy to get carried away with it.....you could put s+r,pivots,fib levels ++......and you will have so many different lines on the chart that you can never get a trade on because of too many lines. You just have to find what your most comfortable with.
Hey folks Thanks for replies re: brokers using NinjaTrader. Any other input would be greatly appreciated. If anyone's interested, here are the results of some broker commish research from this week: (all comms for ES/NQ/ER2, YM/DAX slightly lower, CME FX Futures slightly higher) AMP Trading: $3.80 rt (NT w/ZenFire feed) Advantage: $4.58 rt (NT w/TrdgTech feed)) Infinity: ~$4.40 rt (NT-forgot to ask about the feed) Mirus: ~$4.40 rt (NT w/ZF) Velocity: $4.03 rt (NT w/TT) Hope this helps. later, billyray