Anek,
If possible can you please post today's NQ chart with "W"'s marked at end of day. I appreciate it.
Thanks
DT
If possible can you please post today's NQ chart with "W"'s marked at end of day. I appreciate it.
Thanks
DT
AHG - Profitable Strategy for Struggling Traders
- Thread starter Anekdoten
- Start date
- Status
NQ 11.05.07
Most of the trades were documented here before the chart so they should come at no surprise.
The first W had support from the 2500 tick chart multi day trendline
The short was coming off the symmetric triangle that, I think, is still valid on the 2500 tick chart (multi day) and the plan was to short the resist area and go long on the support one.
For some reason I did not think the market was ready to come out of the symm today and looks like I got my wish on that.
The short symm resistance was based on head and shoulders confirmation.
The long symm support was based on W formation confirmation.
Not included because it serves no purpose a minor loss on 1st unit only that worked like crap because once again I think I'm superman when I'm just a regular geek.
Anek
Most of the trades were documented here before the chart so they should come at no surprise.
The first W had support from the 2500 tick chart multi day trendline
The short was coming off the symmetric triangle that, I think, is still valid on the 2500 tick chart (multi day) and the plan was to short the resist area and go long on the support one.
For some reason I did not think the market was ready to come out of the symm today and looks like I got my wish on that.
The short symm resistance was based on head and shoulders confirmation.
The long symm support was based on W formation confirmation.
Not included because it serves no purpose a minor loss on 1st unit only that worked like crap because once again I think I'm superman when I'm just a regular geek.
Anek
T,
I usually only reach considerable size when averaging up, therefore the only time I execute a large order at once is via a stop that is covering or selling and since they are a stop I got no choice but to go market.
The adds and initial are usually limit/market depending on the formation and the action.
Limit is obviously better but sometimes you must sacrifice fills for speed.
Taking off now, feel like crap.
Anek
I usually only reach considerable size when averaging up, therefore the only time I execute a large order at once is via a stop that is covering or selling and since they are a stop I got no choice but to go market.
The adds and initial are usually limit/market depending on the formation and the action.
Limit is obviously better but sometimes you must sacrifice fills for speed.
Taking off now, feel like crap.
Anek
Thanks for the response. I actually deleted my post before you responded because I only noticed after posting that you said you were taking a break. In any event, I appreciate your answer.
Thanks for today's NQ chart Anek.
Take Care
DT
Take Care
DT
Anekdoten:
Hope you have a speedy recovery.
As you know, I'm buyer of support areas when the overall trend is up but lately I have been refining the entry with your methods with good success. I now take much less heat.
My question to you is this:
If you are trading the ES but you see a reversal formation with confirmation on the YM or NQ would you still act on the ES eventhough the strong signal is on other emnis or switch to the emini that actually has the signal???? Thank you and great work, get better.
ADK
Hope you have a speedy recovery.
As you know, I'm buyer of support areas when the overall trend is up but lately I have been refining the entry with your methods with good success. I now take much less heat.
My question to you is this:
If you are trading the ES but you see a reversal formation with confirmation on the YM or NQ would you still act on the ES eventhough the strong signal is on other emnis or switch to the emini that actually has the signal???? Thank you and great work, get better.
ADK
bluedemon77
Guest
I can't imagine how anybody could say it hurts. Compared to some of the sheer nonsense floating around ET, this is just real basic stuff no rational person could argue with--trends, support, resistance--nothing radical there. I guess that's where I found the most value in this thread--it made me abandon my search for the perfect combination of indicators and just concentrate on pure price action. OK I confess that I still use one indicator, but it's just for confirmation of what the basic chart is telling me.
Anek
I know you don't do equity trades anymore but since your the smartest person I can ask, do you know when the NYSE changed the rules on stops being executed on the bid for longs and the ask for shorts? I know the Nasdaq does this but it had always been my interpretation that the stock had to trade at the price on the NYSE for the order to execute.
Hope your feel better soon
I know you don't do equity trades anymore but since your the smartest person I can ask, do you know when the NYSE changed the rules on stops being executed on the bid for longs and the ask for shorts? I know the Nasdaq does this but it had always been my interpretation that the stock had to trade at the price on the NYSE for the order to execute.
Hope your feel better soon
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