AHG - Profitable Strategy for Struggling Traders

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Quote from Anekdoten:

Trades for 08.03.07

Hard to type with the current excitement. I get goosebumps on days like today. Anyway, enough chit chat, to the details.....

Evidence of congestion in circles on chart attached.

Longs

1st Winner

2nd *A MISTAKE* there was a lower high, stochs were crossing down. I have no idea what I was thinking. Closed it for BE as soon as I noticed my mistake. Whenever you make an obvious mistake close the trade ASAP don't even think twice about it.

3rd Stopped out

4th Stopped out

1 Winner
2 Losers
1 BE

Total: 1 for 2

Geez, think longs were not working well today, no real structure. I wonder why :) Let's switch to the dark side, shall we?

Shorts

1st Winner
2nd Winner
3rd Winner
4th Stopped out
5th Winner
6th Winner
7th Winner
8th Stopped out
9th Stopped out
10th Grand Slam
11th Grand Slam
12th Grand Slam

3 Losers
9 Winners

Total: 10 Winners 5 losers 1 BE

Notice all the losers I had. Do I care ? Do they bother me ? Do I feel bad ?

To be blunt, I don't care, I expect them and I don't fear them as I know how to control them. You lose, you stand up, and you fight back, over and over again. Because you believe in yourself, in your trading, in your system.

Win some, lose some, just like a champion in boxing, at the end of the fight, what you want is the decision, not perfection. You can shoot for perfection, but lets be realistic.

What can I say, I love days like today, I trade for days like today.

They are special and extremely profitable if you just follow the trend. God knows how many contrarians called bottoms during the hard slam down, and hard it was!

Best summer I've witnessed, they are usually dull this is far away from it. This is wonderful, this is just like heaven!

Anek
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If you should be interested, here is a marked chart of what I was looking at today.

st
 

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Nice Stealth,

One thing about the ES as well.....it can handle huge size with minimal slippage, freakin NQ slips a tick on 1 contract in fast markets....sucks but for now it is the cheapest per point mover out there until I can build consistency.

Thanks for the chart :D

Quote from Stealth Trader:

If you should be interested, here is a marked chart of what I was looking at today.

st
More...
 
Stealth,

I see the similarities, no doubt. Good trades.

Razor,

The days of the YM and I are numbered but since it was the first e-mini I ever traded it's hard to let go.

Have not decided yet if I'm going to ES or NQ. Definitely not to ER2 with the upcoming transition from CME to ICE.

Anek
 
Quote from Razor:

Nice Stealth,

One thing about the ES as well.....it can handle huge size with minimal slippage, freakin NQ slips a tick on 1 contract in fast markets....sucks but for now it is the cheapest per point mover out there until I can build consistency.

Thanks for the chart :D
More...




I don't trade huge size, about 10 is my limit. I was trading the ER exclusively up until about three weeks ago, but the recent volatility within it was placing my stops too far out for my rules. One thing I might mention is to continuously compare different contracts with each other and trade the one that currently gives the best bank for the buck . Many people become married to a certain contract, when in reality, they can and do change in the way they trade.

I am not going to rain on Anec's thread. I just wanted to share what I am doing and how close his method is to mine. I've been involved in the markets close to 30 years, and he is the first here on ET that I believe actually has a clue. Of course, I am a bit biased! :D Nonethless, listen to him, you will not regret it IF you are indeed serious about being one of the 5% that become successful in this business.

st
 
Go grab a beer man ! LOL, seriously, I am on my way out for a beer or two but if you want to build real size ES is the ticket IMHO (but then again what do I know :D

Cheers :D

Quote from Anekdoten:

Stealth,

I see the similarities, no doubt. Good trades.

Razor,

The days of the YM and I are numbered but since it was the first e-mini I ever traded it's hard to let go.

Have not decided yet if I'm going to ES or NQ. Definitely not to ER2 with the upcoming transition from CME to ICE.

Anek
More...
 
Hi Stealth,

Your experience and input is welcome here I am sure, please keep posting and your points are noted regarding getting stuck on one particular emini.....a question I have though....

.....if one is and has been consistently profitable for a while why not trade ES and over time build contract size....why stay at 10 etc ?.....I mean from what I have read one can do 100 - 300 ES contracts a time with 1 tick slippage ? Sounds like a lot of cars but if one is consistently profitable and account is building even with withdrawls why not add contracts over time ?....just a thought, ok I am off now for a couple brews :D




Quote from Stealth Trader:

I don't trade huge size, about 10 is my limit. I was trading the ER exclusively up until about three weeks ago, but the recent volatility within it was placing my stops too far out for my rules. One thing I might mention is to continuously compare different contracts with each other and trade the one that currently gives the best bank for the buck . Many people become married to a certain contract, when in reality, they can and do change in the way they trade.

I am not going to rain on Anec's thread.


I just wanted to share what I am doing and how close his method is to mine. I've been involved in the markets close to 30 years, and he is the first here on ET that I believe actually has a clue. Of course, I am a bit biased! :D Nonethless, listen to him, you will not regret it IF you are indeed serious about being one of the 5% that become successful in this business.

st
More...
 
The drinks are ready Belhaven's Stout is what I like. However, got my kids all over me playing anything from Nintendo Wii to Xbox 360 so I'm playing with my journal as they develop their "skills" in video games.

Once they hit the sack, I will surely start the weekend with an "up" note as I examine charts :p

Definitely welcome Stealth and anyone else with positive thinking into the journal. Companionship, friendship, education, sharing and good times is what it's all about.

Off to kick some butt in Viva Piñata!

Anek
 
Anek,

Regarding your 3rd Short trade today, I noticed you took it after only one LL and one LH. Was this a mistake or do you sometimes take this kind of trade rather than wait for the stated two LL's and two LH's?
 
Stealth, your comment on Anec is right on. I have played around for about 20 years with trading as a hobby. Now becoming serious, and I fully appreciate the what Anec is doing. Very rare indeed.

Anec, On the first congestion area you circled today, it looks like there were a couple of trades that I might have been sucked into.
What Kept you out. Hope the chart attaches.
 

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Quote from AlpineTrout:

Anek,

Regarding your 3rd Short trade today, I noticed you took it after only one LL and one LH. Was this a mistake or do you sometimes take this kind of trade rather than wait for the stated two LL's and two LH's?
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Not exactly sure probably counted the consolidation as neutral and kept on with the trend down as I saw yet new lows from the previous trend.

Good catch.

Anek
 
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