AHG - Profitable Strategy for Struggling Traders
- Thread starter Anekdoten
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Well A. went live today. 2 trades, basically even. Missed the easy stuff on nq this morning.
It is with great trepidation that I post this chart. I only took 3 trades today, and they were marginal. But I have to say, with the full benefit of hindsight there were not very many true AHG entries today, if you waited for 2 HH/HL or 2 LH/LL to define the trend.
My first trade I was looking for a long entry after one HL and a HH, and even tho the pullback created a double bottom I entered long.... and got stopped out. Once that low was taken out I recognized market was in downtrend and was looking for a short entry, but missed the obvious entry and refused to chase it. 2nd trade, still looking for the short entry I sold after what appeared to be a double to at 2007.5 (My entry was 2005.75 and my stop was above the DT at 2007.75.
We got the 2007.75 print before market broke higher. At this point I saw the trend as up, but large green bar did not give me a comfortaable entry. I was looking for long entry now, and entered after a bright green bar! Market moved up, I gave it time but there was no follow through. Got out for +1.25 pt and yes, market pulled back and I would have been stopped out for a loss but I do not like practicing taking small profits. It will hurt me in the long run if I don't let these things run. Rest of the day provided only marginal entries. Looking at the chart I really don't feel like I missed much even in hindsight.
I really am the "struggling trader" of this topic title!
-1,5 -2 + 1.25 = -$45 less commish
(Anek, thanks for posting EL code a few posts back. Indicator works great!
)
My first trade I was looking for a long entry after one HL and a HH, and even tho the pullback created a double bottom I entered long.... and got stopped out. Once that low was taken out I recognized market was in downtrend and was looking for a short entry, but missed the obvious entry and refused to chase it. 2nd trade, still looking for the short entry I sold after what appeared to be a double to at 2007.5 (My entry was 2005.75 and my stop was above the DT at 2007.75.
We got the 2007.75 print before market broke higher. At this point I saw the trend as up, but large green bar did not give me a comfortaable entry. I was looking for long entry now, and entered after a bright green bar! Market moved up, I gave it time but there was no follow through. Got out for +1.25 pt and yes, market pulled back and I would have been stopped out for a loss but I do not like practicing taking small profits. It will hurt me in the long run if I don't let these things run. Rest of the day provided only marginal entries. Looking at the chart I really don't feel like I missed much even in hindsight.
I really am the "struggling trader" of this topic title!
-1,5 -2 + 1.25 = -$45 less commish
(Anek, thanks for posting EL code a few posts back. Indicator works great!
)Quote from Rn86:
Techdoodle
If you allow me to comment
- I love your short trades under red circle #3, #5 and long around 15:11 have excellent RRR.
Trade #2 probably a good one, but you exited too early, I would have placed a stop above most recent resistance.
#3 short - no signs to exit, coming from DT in downtrend.
#4 probably too close to a possible DB formation, glad it worked out
Thanks for the feedback! Trade#2 had the appropriate stop, but I 'predicted' a bad outcome and got out. Silly me! Can I read all those traders' minds?:eek:
Had a rollercoaster of a day until later where I just took a beating. Going to post a chart with my entries & exits with some reasoning. After that going to post a chart with tech work now that I can see it in hindsight. Any and all commentary appreciated on my trades.
~Cx
**Legend:
Green Vertical: Longs
Red Vertical : Shorts
Gray Vertical : Exits
Pink Vertical : Reverse
P.S. Let me know if it is too cluttered to analyze. If it is, then I'll break it up into morning and afternoon charts and spread horiz.
~Cx
**Legend:
Green Vertical: Longs
Red Vertical : Shorts
Gray Vertical : Exits
Pink Vertical : Reverse
P.S. Let me know if it is too cluttered to analyze. If it is, then I'll break it up into morning and afternoon charts and spread horiz.
Thanks!
I now see the over trading. And I think I understand the popup and retracement part. Some of my entries were after the fact. I think I need to have awareness to relative bar size and where price is in relation to the trend when entering a trade. I think Rn86 gave that hint to me as well.
And the chop... I don't think I was giving trends time to develop first... Another 'predicting' element to be aware of.
-Tech
Jaxon,
The double bottom "buy" with a tiny stop below support is ok, no real harm done there, good effort. The hint to avoid that was the nasty AH selloff evidence so only taking the mid swing break was the possible play there.
On your short, notice how price consolidated at the lows, forming a rectangle formation only to escape to the upside, trend or not that's a bullish sign, price was trapped, found a side and escaped.
Your third play, the long, that had absolutely nothing wrong and I lost on it myself albeit a minimal stop.
It seems the best trades were skipped.
Anek
The double bottom "buy" with a tiny stop below support is ok, no real harm done there, good effort. The hint to avoid that was the nasty AH selloff evidence so only taking the mid swing break was the possible play there.
On your short, notice how price consolidated at the lows, forming a rectangle formation only to escape to the upside, trend or not that's a bullish sign, price was trapped, found a side and escaped.
Your third play, the long, that had absolutely nothing wrong and I lost on it myself albeit a minimal stop.
It seems the best trades were skipped.
Anek
Quote from Jaxon:
It is with great trepidation that I post this chart. I only took 3 trades today, and they were marginal. But I have to say, with the full benefit of hindsight there were not very many true AHG entries today, if you waited for 2 HH/HL or 2 LH/LL to define the trend.
My first trade I was looking for a long entry after one HL and a HH, and even tho the pullback created a double bottom I entered long.... and got stopped out. Once that low was taken out I recognized market was in downtrend and was looking for a short entry, but missed the obvious entry and refused to chase it. 2nd trade, still looking for the short entry I sold after what appeared to be a double to at 2007.5 (My entry was 2005.75 and my stop was above the DT at 2007.75.
We got the 2007.75 print before market broke higher. At this point I saw the trend as up, but large green bar did not give me a comfortaable entry. I was looking for long entry now, and entered after a bright green bar! Market moved up, I gave it time but there was no follow through. Got out for +1.25 pt and yes, market pulled back and I would have been stopped out for a loss but I do not like practicing taking small profits. It will hurt me in the long run if I don't let these things run. Rest of the day provided only marginal entries. Looking at the chart I really don't feel like I missed much even in hindsight.
I really am the "struggling trader" of this topic title!
-1,5 -2 + 1.25 = -$45 less commish
(Anek, thanks for posting EL code a few posts back. Indicator works great!
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