AHG - Profitable Strategy for Struggling Traders

[Razor]

Hi Gary,

This is an issue with esignal, if you look at my last couple of trades posted you will see the red and green heiken bars, for some reason esignal does not plot the heiken bars back further than a couple of hours so my trades from the morning all you are seeing is the regular price bars (which are all black and overlay the heiken bars, I made them all black so that I only concern myself with the heiken bars in red and green)....in real time the heiken bars print red and green so it's ok just is not good when looking back over the day and only seeing price bars.

Cheers

Quote from GaryN:

WTG Razor. I wonder why you are using heikin ashi on single colored bars tho. Kind of defeats the purpose doesnt it? I am making this comment because I have found the color coding to be helpful, especially in hanging with a trade. Psycholically easier to stay with a trade when the color matches your position.

 

[Anekdoten]

Razor,

That was some good trading today. Looking back at your chart your biggest weakness seems to be letting the winners run.

Take some time off during the weekend to examine/work on that.

There is no reason to sell on strength unless there is sign of weakness and vice versa for shorts. Study those charts.

It will make an insane difference in your trading if you pull it off.

For me personally it was the difference between profitability and quitting my day job.

Anek

 

[Razor]

Cheers Anek for the kind words, I will review charts over the weekend as per usual

Quote from Anekdoten:

Razor,

That was some good trading today. Looking back at your chart your biggest weakness seems to be letting the winners run.

Take some time off during the weekend to examine/work on that.

There is no reason to sell on strength unless there is sign of weakness and vice versa for shorts. Study those charts.

It will make an insane difference in your trading if you pull it off.

For me personally it was the difference between profitability and quitting my day job.

Anek

 

[GaryN]

I think Anec is right about letting winners run being the key to getting to the next level. I am getting better at it but still have a ways to go. Small wins cover small losses and keep you in the game as long as you avoid the larger losses but its the occasional home runs that build the account. For me its having faith in the fact that most of the time the last swing high/low (in the right circumstances) will be tested but you also have to learn (beaucoup screentime) to recognize from the tape when it is probably not going to make it.

 

[Bingoking]

Quote from Anekdoten:

For me personally it was the difference between profitability and quitting my day job.

Anek [/B]

I like that. A lot.

 

[Anekdoten]

Razor,

I look at this chart and it's painful for me to see this.

Your entry was incredible but then I can't see a single reason for exiting where you did. Not one, in fact your exit would had been my entry.

Do not be afraid of a small winning trade becoming a break even one. Move that stop accordingly and shoot for a good exiting reason.

Your accuracy rate will decrease, less winners more break evens. However, do we play for small winners ? As bingo said all they would do is offset the small losses assuming you are disciplined enough to evade the nasty ones.

A good winner once in a while will wipe 3-5 small losers without blinking twice.

Remember, there is no shame in small winners small losses and breakevens, we need to escape the larger losses but we need large winners to make this game worth our risks and efforts.

This is how your scalps should look like in terms of amounts and progression.

-50
-75
+0
+0
+300
+0
-100
+75
-100
+350
+0
-75
-50
-100
+0
+0
+0
+300

The hard part is having the proper psychology to handle a bad streak of small losses and break evens while keeping your guard up.

Nevertheless a small winner becoming a break even or even a small loss is a psychological hit.

Still we are working as planned because our priorities are preservation of capital and making the green.

This game is for the most part psychological never forget that.

How do we protect our capital ? With small losses and break even trades while adjusting our stops in our favor, never against it.

How do we make the green ? Not with extreme accuracy not with small winners but with medium to big winners AND with patience.

In trading I don't believe in luck, I believe in a solid system, mental fortitude and the having a brass pair of balls to know and accept that the market is bigger than you, me and everyone else here but once in a while, if patient, we can be in perfect harmony with Mr. Market.

You get the picture.

Hope it helps.

Anek

PS: If your accuracy rate is high, then more power to you but this will only come after years and years of screen time.

 

[Razor]

Hi Anek,

Yea man I agree with everything you are saying 100% ! Looking over yesterdays' trades pains me to see how much I left on the table and how poor my exits were but I also like to look at positives and for the most part at least I actually traded with the trend most of the day instead of fighting the trend so that is a positive....also I think that I had some very good entries and my lossed were nice and small .....Goal for next week is to continue to trade with trend, small losses and focus on letting some trades run fully excepting that I will have more breakevens than winners.

Thanks again for your input Anek

Cheers

Quote from Anekdoten:

Razor,

I look at this chart and it's painful for me to see this.

Your entry was incredible but then I can't see a single reason for exiting where you did. Not one, in fact your exit would had been my entry.

Do not be afraid of a small winning trade becoming a break even one. Move that stop accordingly and shoot for a good exiting reason.

Your accuracy rate will decrease, less winners more break evens. However, do we play for small winners ? As bingo said all they would do is offset the small losses assuming you are disciplined enough to evade the nasty ones.

A good winner once in a while will wipe 3-5 small losers without blinking twice.

Remember, there is no shame in small winners small losses and breakevens, we need to escape the larger losses but we need large winners to make this game worth our risks and efforts.

This is how your scalps should look like in terms of amounts and progression.

-50
-75
+0
+0
+300
+0
-100
+75
-100
+350
+0
-75
-50
-100
+0
+0
+0
+300

The hard part is having the proper psychology to handle a bad streak of small losses and break evens while keeping your guard up.

Remember a small winner becoming a break even or even a small loss is a psychological hit. Still we are working as planned because our priorities are preservation of capital and making the green.

How do we protect our capital ? With small losses and adjusting our stops in our favor, never against it.

How do we make the green ? Not with extreme accuracy but with medium to big winners.

You get the picture.

Hope it helps.

Anek

PS: If your accuracy is extremely high, then more power to you.

 

[Anekdoten]

Happy to help, I edited the message and added a few new bits as the kids were going commando in my office.

..and btw the previous post is precisely how you get to the next level.

Time to study those charts, the same goes for me

Anek

Quote from Razor:

Hi Anek,

Yea man I agree with everything you are saying 100% ! Looking over yesterdays' trades pains me to see how much I left on the table and how poor my exits were but I also like to look at positives and for the most part at least I actually traded with the trend most of the day instead of fighting the trend so that is a positive....also I think that I had some very good entries and my lossed were nice and small .....Goal for next week is to continue to trade with trend, small losses and focus on letting some trades run fully excepting that I will have more breakevens than winners.

Thanks again for your input Anek

Cheers

 

[Razor]

LOL on the kids going commando....I don't have any kids of my own but have four godkids so I know what ya mean !

Off to study some charts as well......cheers

Quote from Anekdoten:

Happy to help, I edited the message and added a few new bits as the kids were going commando in my office.

..and btw the previous post is precisely how you get to the next level.

Time to study those charts, the same goes for me

Anek

 

[Anekdoten]

Quote from Razor:


Off to study some charts as well......cheers

My old man says preservation of capital is printing a chart, hitting the bathroom, studying it, then wiping your ass with it


Anek