Learning Curve...

So today was an interesting day. As usual I was in Chaos's Ventrillo Chat. And as always it's nice to be around other people trading.

Another guy was in there that also is trading the NQ, so we usually talk about the trades we're placing.

Today though, one of the guys hot-mic'd their squak feed. I've never actually heard this before and thought it was kind of cool.

As shown on the chart, the guy says that Goldman is buying, this is the first place I tried to buy and took a loss.

The second time was Goldman selling, I sold into it, although I sold into it way to late. This could have been a phenomenal trade.

Good day overall, felt I was being picky with my setups.
 

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Quote from forrestang:


Good day overall, felt I was being picky with my setups.
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How many different set-ups are you looking for?

Looks like every entry is different.
 
Quote from deaddog:

How many different set-ups are you looking for?

Looks like every entry is different.
More...

Right now, until I get better at it, looking to generally buy/sell in uptrend or downtrend.

I'm also slowly adding in various chart patterns, asym triangles, double tops and bottoms(entry as price penetrates middle pivot), penants, etc.

Really I am looking to buy pullbacks once 2 consecutive HH/HL or LH/LLs are formed.

Entries are not written in stone. I look for a retracement to generally make it's way close to 50%, then a price pattern to enter. Also looking for some type of previous support or resistance level to hold price.

The first trade I think met that criteria(as the previous days).

I see what you mean though, the last two trades were kind of impulse trades. The second to last I chased, and the last trade I bought into falling knives.
 
Quote from forrestang:

So today was an interesting day. As usual I was in Chaos's Ventrillo Chat. And as always it's nice to be around other people trading.

Another guy was in there that also is trading the NQ, so we usually talk about the trades we're placing.

Today though, one of the guys hot-mic'd their squak feed. I've never actually heard this before and thought it was kind of cool.

As shown on the chart, the guy says that Goldman is buying, this is the first place I tried to buy and took a loss.

The second time was Goldman selling, I sold into it, although I sold into it way to late. This could have been a phenomenal trade.

Good day overall, felt I was being picky with my setups.
More...

You trading AHG style! :p Nice trading..

Do you pay attention to higher timeframes than 1000v.?

At around 14:00 est. price tested resistance in down channel, this was allso globex high, so nice confirmation. It allso made a nice H&S on very short timeframe with nice vol. confirmation.

15 min chart showing channel R: http://www.sierrachart.com/userimages/upload_2/1235603824_82_UploadImage.png

This is H&S from the 10 s chart with vol. : http://www.sierrachart.com/userimages/upload_2/1235604147_39_UploadImage.png
 
Quote from veggen:

You trading AHG style! :p Nice trading..

Do you pay attention to higher timeframes than 1000v.?

At around 14:00 est. price tested resistance in down channel, this was allso globex high, so nice confirmation. It allso made a nice H&S on very short timeframe with nice vol. confirmation.

15 min chart showing channel R: http://www.sierrachart.com/userimages/upload_2/1235603824_82_UploadImage.png

This is H&S from the 10 s chart with vol. : http://www.sierrachart.com/userimages/upload_2/1235604147_39_UploadImage.png
More...

Haha, I'm trying to. :)

For ES, I look at 5K and 2500.

For NQ I've mainly been watching 1000, although I do have a 399 chart up too.

Nice catch with the HS. I see the one in uptrends usually, but haven't trained myself to see them in downtrends yet.
 
Quote from forrestang:

Haha, I'm trying to. :)

For ES, I look at 5K and 2500.

For NQ I've mainly been watching 1000, although I do have a 399 chart up too.

Nice catch with the HS. I see the one in uptrends usually, but haven't trained myself to see them in downtrends yet.
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I would strongly recommend you paying attention to those higher timeframes, as an anchor chart. This makes it a LOT easier knowing when to let winners run, and maybe even more important, when NOT to put on a trade, even though it might look really nice on your entry chart.

But than again, each to his own trading style. I know PLENTY of traders not using a bigger chart for anchor, and it does not seem to hurt them at all!
 
Quote from veggen:

I would strongly recommend you paying attention to those higher timeframes, as an anchor chart. This makes it a LOT easier knowing when to let winners run, and maybe even more important, when NOT to put on a trade, even though it might look really nice on your entry chart.

But than again, each to his own trading style. I know PLENTY of traders not using a bigger chart for anchor, and it does not seem to hurt them at all!
More...

Ohh BTW, I did not take that trade I showed you. I saw it, thought about it, but NO. For some reason I had a bias to the upside, I thought the market was going to BO of the down channel. Instead of seeing what price was telling me, and threat resistance as resistance untill proven otherwise, I chocked. Need less to say, I quess I am still a newbie and suck! :p
 
Quote from forrestang:

Right now, until I get better at it, looking to generally buy/sell in uptrend or downtrend.
More...

Master one set-up at a time.
Keep a record of all trades; Which ones work and which ones don't.
What did the price do prior to your trade ;
Always look to the left for a hint.
 
Quote from veggen:

NQ about to make a IHS right at channel support.

Inside bigger triangle.
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Nice BO of the IHS. Trying to BO of the triangle as I type.
 
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