MrPaul

Raul, Thank you for putting this into an easy to understand document! I have begun to backtest and have found that it is a profitable method indeed. An interesting thing I have noticed is that more ofthen than not, if the Market is able to push through the H/L and complete a candle by a meaningful degree, it can pullback deeply and still end up closing above/below the breakout (basically following the initial direction) by the close of the day. That to me was very interesting...Back to more testing...

I found these articles and reprints to be useful and informative (all in pdf format) Included in the articles are topics such as Money Management, TICKS, Market Profile etc. along with some good reprints written by Linda Raschke and others. Articles and Reprints on Trading

Yeah it's interesting how you have to "Get" to simple. Somewhat of a regression to the mean. You start out learning with time, price and volume in most cases, expand on that with numerous studies, indicators, psychological studies, newsletters, moon projection analysis :p etc. All to discover that you return to "simple" for anything to be consistently successful.

After reading This blog entry, I was curious to take a close look at some charts...Is the market telling us something? I'm not sure, but it looks interesting.

cool thanks:cool:

Hey Tin Are you using the nasdaq TRIN with that?

lol good way to start the day

thanks Ant:)

hey protrader, Do you happen to have access to S&P daily percentages of times market closed Lower than previous day? Thanks

Here are a few I can think of...They may be general, but perhaps the discussion will elaborate if others share the same rules. Don't gamble Don't chase the market Have a reason for every trade Wait for a pullback Always know where you're getting out before you get in Always know when your getting out if the trade goes wrong before you get in Have a trading plan and trade it Learn to love risk Never give up or stop learning These are just a few off the top of my head but they all help you do one thing. Preserve your Precious Capital, because without that you won't even have a chance to follow rules.

So true...

This was copied from another forum, which had copied it from another website...I found it to be a good read. Innerworth today discussed your mood and how it might effect your profits. Here is a snippet from what they said. quote:...When you are in an unpleasant mood, you may have a strong need to feel better. How can you feel better? Making money usually makes you feel better... The discussion was based around the ability of a trader to hold on to a trade through to the target or stop and not close the trade prematurely. One of the reasons that you may close a trade prematurely is if you're in a bad mood. Why is this? Because taking a small profit will put you in a better mood and everyone wants to feel good. So think about these two scenarios: Scenario A You wake up and start trading and you're feeling great. Your trade is hanging around the 2 point profit mark and your target is 5 points. It's okay to sit back and wait for the target to be reached (or the stop to be hit) because you're happy. You do NOT have any desire or need to change your mood because you are already in a happy place. Scenario B You wake up and start trading and you're in a bad mood. Your trade is hanging around the 2 point profit mark and your target is 5 points. By closing out the trade now you will make some money and you will improve your mood. By waiting for the trade to reach its target will postpone and delay the improvement in your mood. i.e. you will continue to feel unhappy until you have taken profits. So not wanting to delay the shift to a better mood you take your profits earlier. Let's take a look at how the mood can effect your impulse to trade. Bad Mood You're in a bad mood and you want to feel better. (Remember that this is going on in your subconscious and is not an active thought at the front of your mind.) If you trade and make money you will feel in a better mood. If you trade and lose money you will continue to feel in a bad mood. So, in the worse case scenario your mood doesn't change. In the best case scenario your mood will improve. So this may cause you to take an impulsive trade. If you trade without a setup then there is a 50/50 chance that the trade will make money. So you have a coin flip to change yourself into a better mood. It's your subconscious that's making you do this trade. Good Mood You're in a good mood and you're subconscious therefore has no desire or influence over your actions to change your mood. Therefore, your mind can focus on market action and wait for valid set-ups before you enter a trade. There is no need or rush to make an impulsive trade to improve your mood. You're subconscious is not sabotaging your efforts here. I have heard of a number of traders that have told me that when they are going through stressful times in their lives their trading results have deteriorated. That last case is by no means scientific and actually comes from a bunch of men who went through a divorce. During the divorce their trading results were worse. Elsewhere on this forum, there is a reference to a Tony Robbins technique that Chameleon gave a trading room recently. He (Chameleon) basically gave a method for making you feel in a better mood. This is obviously not the only method that can make you feel in a better mood and you may have your own or a different one that works better for you. If so, then let us know by posting a reply here. The trick, though, is to make sure that you're in a good mood before you start trading. As part of your pre-market preparation you should perform this get-me-in-a-good-mood technique to make sure that you are feeling great before the market opens. Even though you may already be in a good mood it doesn't hurt to check. When you go on a long distance trip you check the water and tire pressure even though they are fine 90% of the time. No reason why you should do a pre-market check on your mental state as well.

Just our of curiosity which third party program was it? I have been on the lookout for something similar.

Count me in...

Interactive Brokers "Paper Trader" is real time but it requires you have a regular account with them. That's the only real time simulator I have experience with.

I'll be there for sure

In the book he mentions it as being the instrument's domicile market. From pg. 11 "There is one important consideration about the opening range, and that's making sure it's based on the domicile market. What do I mean by that? If your trading natural gas futures, then you know that the domicile market is the New York Mercantile Exchange. That's where the opening bell is established. But if you were trading say, Japanese yen, the the opening of the U.S currency markets wouldn't apply. Rather you would look to the opening of the Japanese markets...."

This was the best I could find... Spotting Breakouts As Easy As ACD

The more I read and analyze the book I am seeing how at least with emini's, the ACD method may be more effective on a longer-term timeframe i.e 3 to 5 days with a 30min chart. Although this is just a preliminary opinion.

I'll be there

I just bought the book today...I would also like to know if anyone has been able to successfully apply the ACD method

I'll be there

I would have to say that is exactly what I did also. I actually have my trading plan sitting next to me while I trade. I now only use indicators to look for divergence on daily charts in a swing trade.