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One of my most consistent trading methods is fading weak breakout/breakdowns. For example a weak breakout is a break that occurs into a resistance zone after a consolidation period or slow consistent move higher. These are the breakouts that I found have the highest rate of failure. Have...

I use different stop sizes for different patterns that I follow. I find that any stop smaller than 4-6 points makes it difficult to ride a trend very far. Main thing is your timeframe and profit objective because your stoploss must always correlate to your trading timeframe and profit...

Today was a light day for me. I hate trading oversold markets as the old " damned if you do,damned if you dont scenario" is in full effect. Being a Friday also, and a profitable week, I purposely traded lightly to end the week on a positive note. Although I had the reversal nailed it got away...

I did not overlook your post just not sure what you are asking. I agree commission costs are a big deal and this is one of the reasons I attempt to not overtrade. My goal is to have my profit to commission ratio at about 5 to 1. When i am higher than that I consider my trading efficient and when...

For my use, a pivot refers to a short term change of direction following a multi-bar move in one direction. For example, if you get a 5 bar move down with a series of lower highs and lower lows when a prior bar high is finally broken, price pivots or changes direction. Sometimes, this is...

Hey Niel good to hear from you. first of all I feel that the Es and NQ are completely different vehicles and need to be traded with different approaches. The ES strikes me as more of a faders market where the best trades come from fading weak breakout/breakdowns. This is not my best area of...

This market gets stranger and stranger is all I can say. Some things are going on that I have not witnessed in a long time if ever and it makes me quite skittish and a little bit timid. When I see a day where i seem to have it all together I go for the gold, on other days I just try to keep in...

All markets are appropriate as I adjust my stops and targets based on a sample size of trades. This does allow me to adjust to all market conditions, I review my approach every 30 days maximum or as needed to allow for changing market dynamics. I usually will review my trades when i hit a rough...

I will move my stop to breakeven once I achieve 75-80% of my intended target. For that trade I entered at 866.50 with a target of 858, about 8 points, so once I had 5 points of profit my stop moved to breakeven. Once I start accepting below average gains where does it stop, I try very hard to...

Jeeze, am I this boring. " Have you ever thrown a party and no one showed up " LOL AllenZ

Second day of the journal was a wild one. Even though today was quite volatile, i had very few setups trigger for me. Trades Trade 1 - 10:51 Short 866.50 Exit 11:27 866.50 flat Trade 2 - 12:58 Short 883 Exit 13:22 877 + 6 Trade 3 - 14:12 Long 867 Exit 14:26 861...

When there is wide range such as the range yesterday I am generally looking to fade moves. Buy into weakness and sell rallies. I am looking for a choppy day, if we instead get a trending day would make me think we are headed quite a bit higher in days and weeks to come. Just something I have...

Well at least I picked a good to start this journal as we had one of the widest ranges of past couple months by days end. Let me post trades and some comments. Trade 1 - 10:21 Long 831 Exit 10:48 837 +6 Trade 2 - 11:26 Long 830 Exit 12:00 835 +5 Trade 3 - 13:36 Short 850...

October 1 and here I am to start my journal for the month. Before I do so I want to set out in writing what I am looking for so everyone here on Elite knows exactly what my intentions are and can feel free to comment on my performance in keeping with my expectations. All trades I enter...

I will start a journal of NQ trades under the title AllenZ's journal. Before I do so I want to set out in writing what I am looking for so everyone here on Elite knows exactly what my intentions are and can feel free to comment on my performance in keeping with my expectations. All...

Well, an average of 6 points a day over the course of the past 9 months is nothing to sneeze at. If you can post trades made in real time that beat that. My hat is off. Keep in mind I dont scalp, only trade an average of 4 times a day, and explain every trade prior to entry. Think it is easy...

Journal starts October 1. Over the next few days I will lay out the ground rules for the journal to give an idea of what will be posted. I will attempt to make it entertaining as well as educational. The trades will be based on the framework of the system I am currently trading within. I...

nkhoi-- I was just trying to find out what traders here at Elite are looking for out of a journal short of giving exact setups. I enjoy doing a journal as I find it helpful for myself as it reinforces things I am trying to do by explaining it after the fact. After trading for a long time it...

What type of profit return ( before commission ) do you expect? A question I always like to ask myself as well as other traders that have a system, is what return are you looking for per trade and per month to justify the risk you are taking. AllenZ

Thinking about starting my journal back up for October. I have been only making about 2-4 trades a day lately. Success has been good, averaging about +6 per day NQ. not scalping at all, except for some ES trades that I am toying with. What I am curious about is what traders here on Elite get...