AHG - Profitable Strategy for Struggling Traders

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First we must agree on what the trades are! :)



The first green circle I read as a buy, followed by a red circle = sell to exit, (not a new short)


Next trade is a green circle = new buy, followed by red circle = exit.

Another green circle buy/red circle exit.


Next red circle is a short sale, followed by green buy to exit trade. Last green circle is a buy to initiate a trade, and the red circle exit is on another chart.

So, in summary, I see 5 trades, 4 longs, and one short.

OK, if I got that right, now we can proceed to analyze the trades.
 
Quote from DblArrow:

Been enjoying this thread.

The ideas here are very similar to what I have been doing for quite some time.

I have found the above to be the main reason that I have been able get to the next level in my trading. For the longest time I was one contract only and missed all the good runs and took to many small wins and to many small and big losses, HOPING, for the turn around and home runs. Fairly typical I would say.

I figured my entries were fairly decent as I would generally have some profit potential, but after making $15 to $30 I would try for more then loose ($125). Not very conducive to continued trading.

I went to a cheaper margined contract and traded in multiples 2 to start and then to 3,4,6 etc. and in the words of Robert Frost "It has made all the difference".

If you cannot move to another contract and try this then try to supplement your account so that you can scale.

You will be amazed.

Make 'em pretty, Chris
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I was just reading the posts of the last few days.
I totally agree with you, Chris.
The problem with me is that I'm not really psychologically suited for trading.
I don't let winners run. The first red bar scares me out of the trade. I'm not patient enough, and I hate to see a nice profit schrink.
Because of all that, when I try to let winners run, I usually get out at the next logical entry for a trend. The profit is minimal there ..
The only thing I'm pretty good in is finding entries.
So yesterday and today, after coming back from work (12:00 - 16:00 pm New York time), I was experimenting with another setup:
Stop: 1.25 point
Target: 1 point.
ES lots traded: 4
I had 4 trades today, and gained 600$ (minus the 32 commisions of course)

As a matter of fact, finding entries is the only thing I really like about trading.

This style would also allow me to trade the american markets after work. I can't be in the market all day.

My plan for the near future is: scaling out 2 contracts after 1 point, and keeping the other 2 a little longer (let's say: previous high for a long entry).
One thing I need to learn as well: estimating a realistic target for known patterns.
This evening the ES made a nice 'V' shape. I was long at 1481 right after forming the bottom. Sold at 1482...
When looking back at the charts, I often find my entries strategic, and wel placed, but when it comes to realistic exits ... poor PaxMax.

I have read an article on the net, recently about scaling out. Apparently, accounts that use a scale out strategy, suffer less from drawdowns. FWIW, don't want to start a discussion here.

Have a nice weekend, all!


PM
 
Rn,

I like your analysis, your reasoning is better than my trading, even if it's based on my own teachings. :eek:

Great job.

To clear any doubts, 5 trades total between the two chart but Rn gets a star, the guy nailed them all.

Anek
 
Quote from booyah:

Hi Guys,

Does anyone here know if there's a way to code the bars the same way in QT (quotetracker) as Anek does in Tradestation. Dark,bright green, Dark,bright red

Please advise.

Thanks, have a great weekend.
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This is some what similar to what I see on the last chart. It may be wrong.

Charts/Paintbar Editor/ Add new

(rule 1)
if Bar Open < Bar Close set color to Green
(rule 2)
if (Bar Open < Bar Close) and (Bar Close > Bar High[1]) set color to Lime
(rule 3)
if Bar Open > Bar Close set color to Maroon
(rule 4)
if (Bar Open > Bar Close) and (Bar Close < Bar Low[1]) set color to Red
(rule 5)
if Bar Open=Bar Close set color to White

save and apply to chart with the paintbar indicator

Ps. If you use bright red and green for your standard bar colors rules 2 and 4 can be omited.

AAA30
 
Tech,

Thanks for playing :)

Your analysis is appreciated as well, helps those struggling see different perspectives.

One thing though....

Except for the high probability short, that had more confirmations than Vista (pun intended), most of your shorts were my exits.

Remember, it pays to only trade with the trend. However, if you see something too juicy too pass, a quick scalp against the trend with minimal risk is never a sin just make sure multiple confirmations are there.

Anek
 
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