I'm new in trading and from all the books that went through me, and other traders that i was fortunate enough to talk to, the ACD trading strategy by Mark Fisher has resonated as the most suitable.
Mark Fisher as well as Larry Pesavento, John Carter and numerous others have stated that, "Every new trading day is about a new start!"
The ACD opening range approach is about a new start and it helps me be patient with the market.
I realized that my previous trading view has been based on a rush/Always thinking that i'm too late for the party.
And that is a sure sign of the newbie ready to give up the nuggets, always wanting to be perfect and on time.
I am trading the Forex and now am slowly moving into the Futures.
The target goal is not to give up above $200 per day per 1lot/1 trade per day.
Objective is to recognize the directional strength, allocate a price squeeze and pull the trigger.
To trade only within the first 3hours of the open and or maintain the existing trade with the sufficient strength till the market is closed or the trade being stoppedout.
Last edited by dmann; March 2nd, 2013 at 04:34 AM.
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Observing the cycle shift in the ES, as the market is showing weakness with the Median Lines.
Will be steady and observe the price at OPEN before making a trade, as of now the trading bias is on the selling side.
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the ES cycle shift continuation still occuring, i was biased short from the weekend weekly chart observance.
And was very aggressive in my action by selling 1lot at 1516.00. Now, my plan is to resist the temptation of covering the current + 12ticks and instead go after the C point 1511.00 and the A point 1508.00
The strategy is to protect minimum 4ticks from the entry and move my stop lower to the C point as the market hopefully goes by the A point showing strength to move lower.
The Globex Low 1507.00 would make the nominal ES range of 40ticks.
Last edited by dmann; March 4th, 2013 at 10:40 AM.