Rainbow wave up. NOTE: 1 tick break of DB may not mean much
Thursday, 29 May 2008
Tuesday, 27 May 2008
TRADE 20080527
Mkt overall direction is down. Am looking for short as price retrace to trendline. Didn't happen. Looked for wrong direction of trade. Price subsequently made a double top. I'm enticipating a down wave for short after DT, which didn't happen.
Still picking top and bottom. not entering according to wave direction.
POINT TO NOTE : After breaking TL, do enticipate trend change.
Friday, 23 May 2008
Correct expectation, wrong timing. Should @ least wait for the DT before entry.
All wrong move. Didn't trade in accordance to plan, and Didn't trade in direction of wave!!!
MISTAKE : trying to catch top. most entry were at point where price retraced 50% from last low. I'm anticipating the turn, without confirmation. I may make more sense to enter after confirmation, or at least with multiple "confluence" as Anek see it.
All wrong move. Didn't trade in accordance to plan, and Didn't trade in direction of wave!!!
MISTAKE : trying to catch top. most entry were at point where price retraced 50% from last low. I'm anticipating the turn, without confirmation. I may make more sense to enter after confirmation, or at least with multiple "confluence" as Anek see it.
Thursday, 22 May 2008
TRADE20080522
Sideway market from Trading chart point of view. Shouldn't go Short when price break backup BTL
TRADE 20080521
Not AHG. still need sometime to warm up to his style. The entry was simply "hope", bad bad discipline.
Wednesday, 21 May 2008
My understanding of AHG
From what I've read, the key to success using AHG is the willingness to cut lost and let profit run.
Anek did that by scalling in and out of trade, typically starting with 2 cars, number of cars in trade will look something like 2-1-3-2-3-1-4-0, he let profit run. Starting with 2 cars gives the flexibility to bank in some profit, the remaining car will hence have "vurtually" very small stop.
From what I see, Anek trade from Pivot to Pivot, of the "Anchor" chart, typically 4X the trading chart. On trading chart, Anek will make several attempt to "guess" the turning point, he is quick in cutting lost, once he is right, he'll let profit run, which returns is more then enough to cover the lost. Aneks accuracy is less then 50%, many other trading his style has 30%. Mindset is key.
Anek has a few trick up his sleeve, he takes close below/above previous bar as a strong signal. He use also "Market Emotion" as guidance. See how price bounce off 25/50/75% of day high/low
Anek did that by scalling in and out of trade, typically starting with 2 cars, number of cars in trade will look something like 2-1-3-2-3-1-4-0, he let profit run. Starting with 2 cars gives the flexibility to bank in some profit, the remaining car will hence have "vurtually" very small stop.
From what I see, Anek trade from Pivot to Pivot, of the "Anchor" chart, typically 4X the trading chart. On trading chart, Anek will make several attempt to "guess" the turning point, he is quick in cutting lost, once he is right, he'll let profit run, which returns is more then enough to cover the lost. Aneks accuracy is less then 50%, many other trading his style has 30%. Mindset is key.
Anek has a few trick up his sleeve, he takes close below/above previous bar as a strong signal. He use also "Market Emotion" as guidance. See how price bounce off 25/50/75% of day high/low
What a Break
What a break, has been months away from the trading platform.
Couple of changes.. no longer using Ensign.. Signed up with Mirus, using NinjaTrader with Zen-Fire datafeed. Am still in simulation, so this is a good change and save lots of $$$$. NinjaTrader has its pros and cons, the platform is high customisible, allowing easy creation of indicators, definately a plus over Ensign way of creating customisation. Having said that, NinjaTrader is not that stable, crashes on me every other day.
A good start. Have a look at my desktop.
Couple of changes.. no longer using Ensign.. Signed up with Mirus, using NinjaTrader with Zen-Fire datafeed. Am still in simulation, so this is a good change and save lots of $$$$. NinjaTrader has its pros and cons, the platform is high customisible, allowing easy creation of indicators, definately a plus over Ensign way of creating customisation. Having said that, NinjaTrader is not that stable, crashes on me every other day.
A good start. Have a look at my desktop.
Did some reading and spoken to some trading friends lately too, conclusion is that every trader need to find his/her own style, no one trading method suite all people. And I'm glad to bump into a couple of good thread in EliteTrader, AHG - Profitable Strategy for Struggling Traders by Anekdoten and Day-Trading 2.0 for small traders by jjrvat. Will write down my understanding of their style in later post, Key is that they both pay little attention on indicators, they're both Price Action Traders.
PRICE is the perfect indicator. We need to realise this and all other indicator will work in certain time and fail in other. Look at price, and trade in the direction of TREND.
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