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I just want to clarify one thing in terms of OR. Traders who like to fade moves use wide OR like 45 minutes or more. Pure breakout traders use smaller time frame like 1, 5 minutes etc.. One of the biggest CL traders at MF firm ( and at NYMEX) use's 1 minute OR .
One just has to find an OR which suits one and it looks like Fat Tails Noise bands have one solution for traders who do not like wide OR.
" Conclusion - Tip of the Iceberg
The principles discussed here are just a glimpse of how the ACD system works, so before using it, make sure you do more reading and homework. The system is also not a plug-and-play trading strategy that can be used on any equity."
I am not looking to jump into a new system as I am focused on evolving my own, but I like to pick up tips and tacks from different methods as I believe that makes you a better well rounded trader.
There is a lot of different verbiage to all the systems but they are all derived off some basic concepts.
It is confusing when people use their own way of describing it which is out of the norm, so maybe a marketing deal or just an easy way to remember Mr. Fisher's breakout system. After reading it, it seems like he does quite well with it, but so did Madoff, MF Global etc.. haha... (Not saying he is a scam artist at all, but just you never know until you know and then you don't really know)
I am getting to the point where I trust nobody, including my own concious mind. I think I hear someone knocking on the door...
in tra day. Open did answered the market call. On some days famous quote from Sun Tzu is quite applicable while trading CL " Every battle is won , before it is even fought".
intra day- Once price pulls into OR after an A up or A down- it is typically a MESS as shown by days price action. Does not mean there are no trading opportunities- all it means on days like today trading requires lot more effort and LUCK. Break down of 102.40 into euro close was not with much FORCE but I still plan to follow the PLAN.