AHG - Profitable Strategy for Struggling Traders

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Hi,

Net Loss -$265, ok here it is, was down by more than $500 before 1030am est doing some really undisciplined, rookie crap....anyway, managed to ride the trend back up and recover 1/2 the loss and wads done by 12pm est. Silly stuff but I have not done anything this foolish for months so I will just write it off as a one off......back at it tomorrow.

No equity trades today.

Cheers :D
 
D,

Sure and I'll post the live commentary.

15:53 * Anek buys NQ 71.25 (crazy swing long)

15:54 Anek Playing the bounce on the multi day triangle

15:55 Anek Basically if Im wrong, small loss, if Im on the right side could be a potentially monstrous play

16:45 * Anek sells NQ 92.00 from 71.25 for +20.75 half position out stop to BE + 5.00

Stout time my friend.

Anek
 

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I was out today.... could someone give me a brief market summary? :confused: :confused: :confused: or point me to something.... :confused: :confused: I see dow and s&p down on the day, nasdaq up on the day, and everything up sharply after the bell.... screwy, huh?


edit.... ok, I see everything, including nasdaq, was down at 4pm but everything up after the bell...
 
Quote from disciplinetrade:

Thanks Anek for the chart and the log. I appreciate it.

Is this log from a chatroom thats available for AHG 'ers.

Thanks
DisciplineTrader
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Unless they went ahead and started the chatroom without me, my guess is that dialog took place in Anek's head. :D
 
Thanks for the support guys. I am always really harsh on myself, though. I feel that I should have broke positive but it was my discipline that forced me into crappy trades.

Anek... this ones for you.

Today I had some good trades somewhere in the middle of the day I was up around 200. Then I proceeded to keep getting trapped into what I thought were new trades both short and long and I would get stopped out for small losses in each case.

I have been working off of 333 vol charts for the nq and i enter on a channel/trendline break as well as an engulfing candle. This gets me some entries into some really strong trends where you have v tops and bottoms (ie, the ping ponging back and forth in the triangle).

I just didn't have the skill I think to trade this way and make the turns as fast as I needed to.

Is there any reason to go for 3-5 point scalps on my timeline? I feel I could if I just practiced more on days like today.

If I could trade today, I definitely could do any other day.

I will mark up what I should have done later today and then post what I did as well.

I have a feeling that if I referred back to my anchor char more often and only took the v tops and bottoms at major support/resistance the r/w would have been better and today might have actually payed out well...

Thanks.
 
Quote from Anekdoten:


Was a light trading day for me, four trades total due to the more than obvious chop.
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Anek, when you say "obvious chop" what made it obvious to you? The symmetrical triangle wasn't apparent in ES today unless I'm missing something. Was there anything else I could have seen there to tip me off? Volume was about the same as yesterday all day, not like it was a light trading day or something.

There were a lot of wild swings today, where the market was chugging along in one direction and then changed direction before you could react, I mean seconds. I thought about fading some of those around fib levels, where they seemed to reverse, but I did one time I ended up getting quickly stopped out. Then I stupidly reversed my position, thinking it was going to continue in that direction, which it didn't, accounting for a big chunk of my loss today. It wasn't pretty.
 
Quote from Jaxon:

Unless they went ahead and started the chatroom without me, my guess is that dialog took place in Anek's head. :D
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Not quite :)

I was just supporting a friend in IRC.

Chat rooms are evil, they break your concentration, eyes on the screen bud.

Anek
 
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