AHG - Profitable Strategy for Struggling Traders

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Quote from darren:

anek when you trade the ym and es what are your stop losses like, i.e how many points or what dollar value?
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Darren,

I no longer trade the YM or ES but I have traded them all because I had to find my strong, which is no doubt, the NQ.

I literally toy with that contract.

As far as stops, I like to use small stops and possible multiple entries (failures) in comparison to a bigger stop because a second re-entry encompasses multiple confirmations which leads to greater probability than risking it all on just one confirmation and a big stop.

I advice against scaling in/averaging down (unless its averaging up) because I simply refuse to let my losers get even bigger. Scaling out is ok but I don't like it either, I prefer all in all out. If things are looking good why get out in the first place, etc.

Anek
 
Quote from darren:

gotcha. I trade all 3 but am trying to narrow it down because its hard to watch all three like a hawk
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Don't do that.

Trade or watch one for a week or two

Then the other, and the next.

Until you can conclude which one acts the way you need it to.

I wish my forte was ER2 (due to bang for the buck) unfortunately it's NQ.

Once in a while it pays off to watch them at the same time. Like say if at the LOD you see a W forming and the same is happening on ES and ER2 chances are that W will be a pretty one but aside from biggie plays like that, not worth the simultaneous trading. Don't believe the this one leads the other hype, sometimes it's one sometimes it's the other, just trade the chart and you'll be ok.

Anek
 
thanks for the advice, i will do that! I traded the er2 but eventually, my undisciplinedness of averagin down got the better of me in that index!!
 
Quote from darren:

thanks for the advice, i will do that! I traded the er2 but eventually, my undisciplinedness of averagin down got the better of me in that index!!
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Ya trading ER2 without discipline or a good plan will eat you alive.

Anek
 
Quote from darren:

i am using an 89 tic for all three and a 3 minute for longer views of the trend, any thoughts if those are to small of tics?
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Honestly, whatever makes you money.

There is no correct chart frame, whatever fits your risk/style/goals.

89 is faster than 1 min and 3 min is about 4x the 89 so I say the relationship is good.

Anek
 
i have been trading since 99 but my rouge style I used with equities no longer works, i need discipline , and your thread has helped tremendoulsy!
 
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