AHG - Profitable Strategy for Struggling Traders

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Here is a little demonstration of my wife doing mini scalps in the afterhour sessions in her own account.

Ya, we are all night owls here.

Her trading is based solely on price action and until she can demonstrate to me that she can remain consistently profitable for 6 months in a row she cannot increase her 1 car size.

Last 7 weeks for her have been all profitable, so she's cruising by.

Sample of her trades attached, with her permission of course. Only Price Action based indicators are allowed in her chart. She was clearly playing breaks of support in a downtrend, not too shabby, good accuracy.

That's a nice little run with good focus that she caught. No real heat either.

If she gets real good at it maybe I can step aside and scratch my balls while someone works for our income !

There is a reason why I like her to train in AH as well, perhaps someone knows :)

Hope it helps.

Anek
 

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Quote from Anekdoten:


........However, if your first target has a good ratio in comparison to your stop, then by all means, scale out til your heart stops pounding.......

Anek
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Amen...Brother....

If you absolutely must scale out...then PLEASE make sure that your FIRST profit target is at least 150% to 200% the size of your INITIAL and FULL stop loss......otherwise, you will be enabling your losers to be larger than your winners.....
 
Quote from GaryN:

You cant stop every winner from becoming a loser. Are you going to exit a trade because it goes a tick or two in your favor then reverses? Of course if it moves significantly in your favor it would be foolish to let it turn into a loser. The question seems to be "how much". I think this must be decided by volatility. In this market two points is tight. I have doubled my normal guidelines.
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fwiw...I move my stop to Entry at 5-ticks of profit on the ES....this has worked for me even in this highly volatile environment...it does not happen often where I'm stopped out and the trade then goes on to be a winner...the vast majority of the time when I'm stopped out at Entry, it's because the trade is failing.

The concept of the BREAKEVEN STOP is another important "trick of the trade" for money management purposes. This is one simple but very powerful technique that significantly enhances the risk/reward of your results over a given number of trades.

All daytraders should be using a Breakven stop in their trading (especially in lieu of taking quick 2 or 4 tick profits on half of their position..which will simply get you no where over time...trust me)...

Also, I'm never stopped out because price touches my stop....I'm always watching the contracts being traded at that level...then I manually close the position if I don't like what I see.....very important....
 
Quote from Cxinvest:

Briefly off-topic, though I'm researching it myself, can anyone give me input as to what you feel the best brokerage/platform choice(s) is for index futures trading? Research is good...but so is personal experience. Thanks!


~Cx
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Hi anek and razaor and BMW and other thread conributor..

please let us know what brokerage firm u use...slao data feed... i am sill in learnin mode..will like to get more input from you guys..

this has been a great thread.. only other thread i followed so closely was zero line macd crossover on 2 min chart.... this 2 thread thread are ET gems...

great work guys...
 
Quote from monti1a:

fwiw...I move my stop to Entry at 5-ticks of profit on the ES....
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Please note that I'm not suggesting that you move your stop to entry at 5-ticks...This all depends on your method for getting into the trade.....5-ticks may not work for your method..

The important point is to find a profit level to begin "playing with the house's money", that statistically holds up.
 
I think I said it a few times already but it's good stuff. If you are having trouble with the runners/stops consider moving stop to low or high of the last 2-3 bars (depending on volatility and/or how fast your chart of choce is) once price had left the initial S/R area, which is usually where your initial stop should be.

This will allow you to catch more runners than you can imagine using a mechanical way and prevents your emotions from taking profits too soon.

I'm a much better friend of adjusting stops than simply selling or covering. The idea here is to be in control of your emotions while maintaining logic in check.

If using OSO in Tradestation, manually move this in the Matrix as price moves in your favor.

There is no better trailing stop, this is much more precise than a fixed # stop because it's based on recent lows or highs.

Hope it helps.

Anek
 
Anekdoten,

So, I've been dying of suspense all day.
Why does your wife only trade after hours?
Is the price movement less noisy?
Is it easier to tell where support/resistance lie?
 
B,

I would rather miss a good entry than force a bad one. Sometimes the good stuff just slips through our fingers.

Anek

Quote from babe714:

A,
I've been trying to get an entry where I can put my stop within 2.25 es pts above or below the swing high or low (S/R). Not easy to do , miss a lot of entrys. Is this reasonable ?


Was at VH concerrt on 07/08/79 , in Lakeland Florida. Wish I could remember some of it.
http://www.bootlegvideos.com/vhtourdates.html
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Quote from trader225:

Anekdoten,

So, I've been dying of suspense all day.
Why does your wife only trade after hours?
Is the price movement less noisy?
Is it easier to tell where support/resistance lie?
More...

Maybe :D
 
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