took one trade this morning - it was nearly a perfect setup, I was seeing lower highs, lower lows, but i shorted too close to the bottom of the bar and got stopped out almost instantly.... by a higher high! The market then continued its downtrend. I know I can't let stuff like that bother me and must keep trading and taking the signals, but this threw me off. It looks like you took a long trade at almost the same time. Is that right? 10:34 eastern time. Anyway, thanks for this thread and your advice. It is extremely helpful and is very compatible with my trading style.
AHG - Profitable Strategy for Struggling Traders
- Thread starter Anekdoten
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Jaxon,
I see that. BTW, 89 shares, that's quite fast. I think the faster your chart the more failed patterns you will see.
Noticed the market gave you FIVE opportunies to short it on a pop up, yet you took the one that did not work
...and yes I agree, a HH heh that just plain sucks. Perhaps the mistake was shorting on low stochs.
Anek
PS: I use exchange time not EST
My two trades so far today.
#1) got in on what looked like a change in trend upwards (due to such a strong upward move before the pullback- figured the down trend was over)....guessed right...
#2) Took a pullback to a trendline after the trendline break....guessed right again
Negatives, stops were 3 - 3.5 points on these trades and they only went for +1.25 and +2.75 so stops were set bigger than actual gains....need to improve on this.
Here they are:
http://i15.tinypic.com/4zoc4js.png
http://i14.tinypic.com/4vgmi6v
Cheers
#1) got in on what looked like a change in trend upwards (due to such a strong upward move before the pullback- figured the down trend was over)....guessed right...
#2) Took a pullback to a trendline after the trendline break....guessed right again
Negatives, stops were 3 - 3.5 points on these trades and they only went for +1.25 and +2.75 so stops were set bigger than actual gains....need to improve on this.
Here they are:
http://i15.tinypic.com/4zoc4js.png
http://i14.tinypic.com/4vgmi6v
Cheers
Trades 07-31-07
Today it's a lesson on why it's important to stay neutral and trade only what you see. It's imperative to ride those winners when possible. HA Bars are very helpful in this area.
Again, its not about being right, it's about making money. Not the case today but if I lose 5 times and win 3 and at the end of the day I'm green, job well done.
4 Longs
1st Home Run ridden with HA bars
2nd Stopped out for minor gain
3rd Stopped out
4th Stopped out
4 Shorts
1st Based on double top, monstrous gain like most double tops should be played
2nd Target barely reached as a double bottom formed
3rd Home Run ridden with HA bars
4th Home Run ridden with HA bars
Notice how the doubletop/doublebottom area led to chop suey. That's my signal to stay on the sidelines.
Total
5 Winners
1 Break even
2 Losses
Extremely profitable day and very pleased with my discipline and trading. Off to a break then I will come to the pending posts.
Anek
Today it's a lesson on why it's important to stay neutral and trade only what you see. It's imperative to ride those winners when possible. HA Bars are very helpful in this area.
Again, its not about being right, it's about making money. Not the case today but if I lose 5 times and win 3 and at the end of the day I'm green, job well done.
4 Longs
1st Home Run ridden with HA bars
2nd Stopped out for minor gain
3rd Stopped out
4th Stopped out
4 Shorts
1st Based on double top, monstrous gain like most double tops should be played
2nd Target barely reached as a double bottom formed
3rd Home Run ridden with HA bars
4th Home Run ridden with HA bars
Notice how the doubletop/doublebottom area led to chop suey. That's my signal to stay on the sidelines.
Total
5 Winners
1 Break even
2 Losses
Extremely profitable day and very pleased with my discipline and trading. Off to a break then I will come to the pending posts.
Anek
I hear ya man, I am trying. Still managed to finish the day green $43 net. Had one loser and one winner in the afternoon.
Seems like I am having a mental block in believing that everytime I am about to get on the trend the trend is about to end so I am always looking to get right in on the start of the next trend....not sure how to over come this....will keep plodding ahead I guess...
Thanks for the feedback !
Anec, Here is my chart for the day. First 4 trades stopped out. Afternood was ok though. What would have kept you from the first 2 trades? The 3rd and 4th were just trying to re-enter using a tight stop. The stop I used on 20 tick charts is just too tight on the 75 tick (= to your 200). Any comments appreciated.
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