Favorite Futures: ES ,Currency Futures, Oil , Gold
Posts: 40 since Nov 2011
Thanks: 95 given,
I'm on it, thank you for your thoughts, I lost track a little over the course of the thread, and the recent focus on CL left me in the dust a little. Of course not having studied the theory and read the books, I'm struggling with various interpretations of the method.
I'm interested in possibly using ACD on larger timeframes. Since ACD doesn't work as well on intraday ES maybe I can use weekly or monthly levels.
I wonder what to use as the OR for weekly levels. Maybe the first 2-3 hours of the first day of the week. And maybe the first 2-3 days of the month for monthly levels. What do you think? Do you know any ACD traders using A levels on higher timeframes above intraday?
01-24-2012. Stop loss and market profile, fib chart along with ACD.
There are all kinds of levels.
Only thing I have CONTROL is stop loss. Mkt. Profile and Fib levels are from a friend. I can not draw these levels but it gives me perspective. She does well with them as she draws them and trade them every day the same way. Just like i try to trade ACD.
NOTE ABOUT SIZE: Lot of traders ( including myself) think, if i had more trading CAPITAL, i will do very well. More trading capital gives flexibility and makes it easier. Key is not to add LEVERAGE to ones equity. Futures are loaded to begin with. If one has trading CAPITAL of 100,000 and trade only 2-4 cars on 80% of days and clear 100 ticks a day on just 2 cars- end result CAN BE VERY GOOD. KEY is consistency. One need to be ONLY profitable 200 days to make $400,000 (lol). Now, there are traders who say they can trade 25k etc.. and make a very good living. More power to them. For my style of trading, it helps to have 100K
So, forget about account of $200,000.
Once, a trader has traded successfully with 2-4 cars and has higher EQUITY, he/she will be able to HOLD positions for bigger gains with bigger size.
Last edited by mfbreakout; January 24th, 2012 at 04:24 PM.
The following 3 users say Thank You to mfbreakout for this post: