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Paul Cote:
I meant to reply to your post in april but never got around to it. I
printed out the charts you posted on 4/8 that said, this is how I would have
liked to have traded today. I've been trading NR4 Breakouts off daily charts
and have found that it gets very confusing if I let different patterns
influence my thinking. For example there were times when I was short meal from
a NR4 but very soon the market was setting up a possible turtle soup pattern
at contract lows. Normally I would stay short but now I'm thinking, turtle
soup, maybe I should be long instead of short. This might be part of the
reason LBR stated in the Street Smarts book " All you need is one pattern to
make a living!" I think it's possible to trade several different patterns but
it takes practice. Personally I need to practice and learn the nuances of each
pattern one at a time. So if your not trading every pattern you see, your not
alone.
I've just started trading holy grails. On June 4, the first 30 minute bar in
July hogs touched the 20 period moving average. I thought I should wait for
the 30 minute bar to be completely formed before placing my stop. But it was
this 30 min. bar that rallied.In hindsight my stop should've been above the
previous 30 min. bar. That's what I mean by nuances.
I see many good holy grails in different markets and in different time frames
every day and I've caught some good moves but I miss a lot of trades. I'm new
to trading off the floor and feel a little uncoordinated trading over the
phone. Sometimes the market breaks out before I get my stop placed. When
trading a short time frame often the market is so close to where I want my
stop that by the time my stop gets to the broker the market might be through
my stop. Depending on the broker , he might think the order is a mistake and
send the order back. When I try to enter with a market order many times the
market is way past where I wanted to get in by the time I get connected to the
floor.
How do you enter these trades? Market orders or stops?
What time frame and markets do you trade?
Do you always use ADX above 30?
I,ve tried to set up the Anti on CQG at the Mid Am and got something that
looked similar but didn't look as smooth as the examples in the book. I think
I solved the problem by buying the Street Smarts software but I won't be able
to use it intraday until next month when I get Supercharts RT at home.
What's your guess as to why the Anti doesn't appear to work? Is it not
replicated the same?Market conditions ? or the indicator itself?
Todd
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