AHG - Profitable Strategy for Struggling Traders
- Thread starter Anekdoten
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A. Breakdown bar had a low below the previous swing low but closed above it. So I guess I jumped the gun. You would generally wait for the trend break bar to close, and enter only if it closed below that swing low?
Say in the case of a trend line break that took a couple of lower bars to break the previous low. Would you consider it valid at that point, or require the new low to be coincident or prior to the trend line break?
Say in the case of a trend line break that took a couple of lower bars to break the previous low. Would you consider it valid at that point, or require the new low to be coincident or prior to the trend line break?
Quote from Anekdoten:
Not counting AH plays, those are just bonus plays, I ended up the regular trading day in the red.
Did well in the morning but the choppy action and indecision of the afternoon fooled me several times.
This is the first time I end up in the red since I began the journal.
It had to happen sooner or later, I was simply not compatible with today's action but I was waiting for such day to post it.
Market today kicked my butt, tomorrow is another day.
Hats off to those on the other sides of my trades, job well done
Anek
Same happened to me. But not only yesterday. The fundamental problem with my trading is that I make nice profits in the DAX AM session. Then I give most of the euro's back in the afternoon. As soon as the ES picks up some volume, the DAX becomes untradeable (speaking only for myself here...).
Yesterday I was at +400, lost it all ... The DAX is making crazy moves when the ES is at a crucial moment.
So I came to the conclusion that I won't be trading the DAX in the afternoon. After 4 days of trading real money, one has to make a decision.
(Seems like an appealing lifestyle to me: protecting capital while going for a walk in the afternoon.
)I have attached my trades for today. Not really trend related, though, more like S/R play.
Trade 1: Short trade after double top formation. Got out way too early, a nasty disease I'm suffering from (lack of brass balls...).
I shorted after it was clear that previous support was becoming resistance.
Trade 2: Support of the pivot level was broken, and became resistance. Went short. Scaled in a second contract by placing a stop sell order at 1.5 points below the just formed new LOD. Covered a little later. Net 700, And I won't be trading the DAX anymore today.
By the way: I saw Anek recommending a book on trading patterns. I recently bought 'Mastering the trade', by John F. Carter for 56 Euro. My second trade was based on a setup described in this book. Sometimes a book is a good investment, even if it's only for a few chapters on futures trading...
Well, I won't be able to trade for some time now...
I would like to say 'thanks' once more to Anek, and to everyone who contibuted here.
Might be looking for a sabbatical in 2008, though...
See ya!
Have fun!
Babe,
I think I understand them, but can you explain how your 3 bar reversal should look like?
Thanks,
-tech
I think I understand them, but can you explain how your 3 bar reversal should look like?
Thanks,
-tech
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