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Trading The Ross Hook
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Trading The Ross Hook

  #91 (permalink)
Elite Member
Texas
 
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Posts: 36 since Jul 2010
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Looks like we trade similarly, but my trailing isn't as aggressive.

Not an in forum joke, just a thread on a different forum about posting in real time. I am not sure it would be cool with mike to link other forums, so I will just PM you the link.

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  #92 (permalink)
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anybody in on this?

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  #93 (permalink)
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Beautiful trend day, wish I held for the gold. Gap up, open right above resistance, early 1-2-3 to get the day going. All signs pointed long this morning.


Oh and I am trading from a netbook this morning lol, anything is possible I guess..

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  #94 (permalink)
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I have not looked too closely at the 123 ross hooks - also known as an ABC, for a number of years, but I read most of his books back in the 90s. They were good, early price action ideas.

Two things we found
1) They work like anything in the right context. If you are in a trending market they are a great way to get into a trend. They also can be used to as a method for picking the end of pullbacks in a trend. (abc down in an uptrend is rather than a sell a good buy) (abc rallys in a downtrend became good sell areas)
You have to understand and have a preconceived idea of the context of the market..... this has always been the killer of many systems. We used them as a confirming contextual basis.
2) When a market is trending this is where they really come into their own. As a low risk way to enter, and then pyramid into a trend, you can really build up some big positions and let them ride. Not relevant if you close everything at the end of the day. But if you are prepared to pyramid, run things quickly to break even you can really build a position whereby every trade is going with the momentum. buy 3, sell 1, sell 1 run 1 - repeat. Dont use a trailing stop, and in a good trend its scary what you can make. Your exits are then your next worry.

Nothing really new, and other methods work, but the best thing about them is that they a flexible, and offer potentially good risk reward setups - when used sensibly.

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  #95 (permalink)
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MotoMoto View Post
I have not looked too closely at the 123 ross hooks - also known as an ABC, for a number of years, but I read most of his books back in the 90s. They were good, early price action ideas.

Two things we found
1) They work like anything in the right context. If you are in a trending market they are a great way to get into a trend. They also can be used to as a method for picking the end of pullbacks in a trend. (abc down in an uptrend is rather than a sell a good buy) (abc rallys in a downtrend became good sell areas)
You have to understand and have a preconceived idea of the context of the market..... this has always been the killer of many systems. We used them as a confirming contextual basis.
2) When a market is trending this is where they really come into their own. As a low risk way to enter, and then pyramid into a trend, you can really build up some big positions and let them ride. Not relevant if you close everything at the end of the day. But if you are prepared to pyramid, run things quickly to break even you can really build a position whereby every trade is going with the momentum. buy 3, sell 1, sell 1 run 1 - repeat. Dont use a trailing stop, and in a good trend its scary what you can make. Your exits are then your next worry.

Nothing really new, and other methods work, but the best thing about them is that they a flexible, and offer potentially good risk reward setups - when used sensibly.

I agree, context is pretty important. ABC's are nothing new, but they are easily the most reliable indicator of direction I have seen. They are also easy to spot and I can't imagine entering the market in a safer way. If the context is right, an ABC will normally lead to a small enough move where you can get your stop to break even or small profits without risking too much.

Anyway, the point of these posts are to try to get traders to look at this method of entry. It will be more valuable than any indicator or candlestick pattern in my opinion. It is the biggest edge I have seen in the market so far.

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  #96 (permalink)
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Another day, another... 123?

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  #97 (permalink)
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Food for thought

If have been looking at the Hooks for some time now. Has anybody else out there tried to use them as a swing indicator for a countermove, rougher than a breakout. Looking at end of day data, i like specially the day after a hook has formed. Since the traditional setup has high failure rate, one can nearly turn that around, by using the hook as short term counter trend.
Predicting an up or down day.

Always happy to compare notes on how everybody else is calculating their hooks.

Regards

Locust

Screen shot 2010-09-27 at 15.53.30

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Trading The Ross Hook-screen-shot-2010-09-27-15.53.30-.png   Trading The Ross Hook-screen-shot-2010-09-27-16.20.47-.png  

Last edited by Locust; September 27th, 2010 at 11:21 AM. Reason: Chart attached
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  #98 (permalink)
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Hi,

has anyone the RossHook Indi??

Best Regards

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  #99 (permalink)
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verge View Post
I also like the Ross Hook - because it is something that helps me to interpret price action - it does not lag as some indicators do.

I have been watching a Ross hook indicator on Metatrader.

If anyone wants to convert it from Metatrader to NT it can be found here:

123 / Ross hook indicator @ Forex Factory

I have attached the show123_Rh_BB indicator as a text file (Metatrader is based on C++), a screen shot and a doc describing the indicator written by the original developer

Hello NT Scriptors,

I was wondering if any of you gifted NT scriptors have converted this indie to work with NT7? I have searched the forum, but I can't seem to find it. I for one would be very appreciative if one of you would convert this.

TIA,

Rick

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  #100 (permalink)
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Ross Hook Indicator for NT



Bowerman View Post
Hi,

has anyone the RossHook Indi??

Best Regards

Hi
you can get it from Indicator Warehouse:

Ross Hook

Ganymed

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