AllenZ's Journal

Originally posted by Hendrix


Reverse spam......
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The inverted spammer :D

Cmon guys who is attacking?

I simply raised a point that his "net" figures are significantly lower after factoring in commissions and that his current method of displaying the "styles" viability on this thread is a bit misleading.

It is obvious that this journal is an attempt to drive traffic to his service -- which is by all means fine, but I think it is only fair that if he use this forum as an "advertising medium" that he display a true and accurate measurement of the results.

Imagine me trying to sell a franchise to potential entrepreneurs but conviently leaving out a 30% expense from the net profits on the P&L statement. :eek: And make no mistake about it, the man is indeed selling himself with this thread.

I mean no ill-will toward the man whatsoever, in-fact I am very grateful and appreciative of the AllenZ's of the trading arena.
 
Originally posted by Fluid


AllenZ,

I can appreciate that you are attempting to "exhibit" a style of trading, but now lets be serious here; it is not as if this exhibition is a pure act of selfless benevolence on your part.

I just feel that if you are going to put on an "exhibition" of this sort, it would only be fair to display a true and accurate depiction of the results. This way the others reading this thread can better judge the viability of your "style".

Anyway this will be my last post here on this matter; for I would not want to come across as ungrateful for your "exhibitions". Fact is Allen you inadvertently help line my pockets. While it is true that most "teachers" of this game are failed or unsuccessful traders, so are most traders. Your gig helps perpetuate the endless merry-go-round of sheep!

So for that Allen, I must thankyou.
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Fluid,
Purhaps you have had some difficulty with your trading, maybe as a member of Allens room. I dont know what your motive is. What I do know is that traders who would listen to the advise Allen gives stand to benefit on net. Probably not every day or even every week, but over time trading Allens style will pay your bills. Obviously Allen is a competetor of mine in the chatroom business, so I stand to get no benefit from this post. But, its bullshit for you to slam an honest person because of some problems you may have had, or some preconceived notions you might hold.

Regards,
Brandon
 
Originally posted by Fluid


While it is true that most "teachers" of this game are failed or unsuccessful traders, so are most traders. Your gig helps perpetuate the endless merry-go-round of sheep!

So for that Allen, I must thankyou.
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Tony,

Are you the same Tony that was a subscriber to Allens room a few months back?

If so your journal beautifully accentuates the point I was trying to make with my above post.
 
Guys,

Let's get back on track. This is an excellent thread and I will not permit it to degenerate into trivial attacks. Fluid, your point has been made and driven home a number of times although I see no indication whatsoever that AllenZ has any intention of deceiving anyone. To the contrary, he's obviously providing a very welcome journal of his trading style along with posting profit and loss figures every day, whether good or bad. As has been suggested before, if it's important to individual members you might want to calculate your own profit or loss with AllenZ's numbers after your commission expenses (depending on the broker, the number of contracts), etc.

Now back to getting on topic. Thanks.
 
Originally posted by Magna
Guys,

Let's get back on track. This is an excellent thread and I will not permit it to degenerate into trivial attacks. Fluid, your point has been made and driven home a number of times although I see no indication whatsoever that AllenZ has any intention of deceiving anyone. To the contrary, he's obviously providing a very welcome journal of his trading style along with posting profit and loss figures every day, whether good or bad. As has been suggested before, if it's important to individual members you might want to calculate your own profit or loss with AllenZ's numbers after your commission expenses (depending on the broker, the number of contracts), etc.

Now back to getting on topic. Thanks.
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You are absolutely right Magna and it was never my intention to "slam" Allen or trash his thread so with that said feel free to delete all of my prior posts on this thread...

[edited by Magna:] Your posts prior to this will remain, now let's move on.
 
Today was an inside range day for the NQ's and what I have found over time is that those tend to be some of the toughest days to trade as they are by definition choppy and relatively narrow. Add to that the divergence between todays relatively strong NQ as opposed to the weak ES and it gives a pretty bad environment for someone looking for trend moves. After a strong morning trade I pretty much fell into the "chopped up" camp for the remainder of the day.

Trades

Trade 1 - 9:30 Long 804 Exit 804 flat
Trade 2 - 10:12 Long 810 Exit 822 +12
Trade 3 - 10:54 Long 817 Exit 817 flat
Trade 4 - 12:29 Short 812 Exit 816 -4
Trade 5 - 14:10 Long 820 Exit 820 flat
Trade 6 - 15:00 Short 811 Exit 817 -6

Day Points Net* +2
Weeks Points -3
Months Point Net +29

I am not going to go over all the trades but i will cover the 3 that yielded a gain or loss.

Trade 2 - 30min range break. Entered above the 30min high with a target of 820 - 825 and decided to exit into the middle of my target zone. Nice trade as we waited for the second leg of the move to exit into.

Trade 4 - Break of the 60min IRB ( inside range bar ). This trade was questionable as I entered into an extreme tick reading which I generally wont do but did in this case for some odd reason. After spending an hour in the trade all red ( negative from entry ) I stopped out for a loss on a 5min double bottom pivot. This means that had I not been in the position I would have went long where I covered.

Trade 6 - Double top confirmation entry. This trade was entered when the valley low of the double top was broken almost always a good setup. This was also a trade entered into an extreme negative tick reading ( -900 ). I generally know better than this but today this logic escaped me and this trade bounced up to nick my stop then resumed its downtrend.

All in all, a typical Inside Range Day filled with chop. I should have played it a bit better recognizing early the divergence ( which I did ) but somehow I mistimed two short entries that cost me a couple of bucks.

* All point totals are not including commission.

AllenZ
 
Why are there posts being deleted on this thread? What happened to Secco's post?

If censorship is what this site is about, then perhaps I would be better off not wasting my time here :(
 
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