ShortHipsters Journal

[ShortHipsters]

@ShortHipsters

hi again, shorthipsters

thx for sharing your charts. the following is your enlarged chart showing
your marked up profitable trades.

is that a 3 min chart? your markings and executions appeared to be perfect in time. congrats.

perhaps, you could also help me or better yet help all of us--

HOW TO PICK THE TOPS/BOTTOMS TO EXECUTE CONSISTENT PROFITS, like
your charts revealed?

you surely have a very unusual trading skills which, it seems, no
one here could equal or even come close. congrats again.

of course, i would also understand perfectly, if you do not wish to share with the world,
how you could pick the tops/bottoms so accurately and consistently.

hopefully, in years to come i and many others here could also learn to pick the very tops and bottoms perfectly like you did on your markup charts, below.

View attachment 157088


currently, i must confess, i do not have such accurate and perfect skills as you did,
as yet; what i could was only to follow my tweaked and consolidated charts to take some of the profits on the way down from the tops and vice versa....

and here is my chart with its original computer generated marking and updating as the trade progresses. i really hope that you would and could share some of your
top secrets with us here.

my cyber trading friend, wishing you continued greater successes and profitabilities as well. chow.
View attachment 157087

Hey, I'm curious as to how you got the chart showing well?

In regards to entries and exits. I don't try to pick tops or bottoms. The chart I showed you can see 2nd entry was perfect but the initial position ending up being a losing position. I try not to go full size unless I feel it's warranted. I didn't know where the market was going to turn. I would have got out between 2035-2045 depending upon the action. If it's quick up it can be quick down. If it's slow grind up then I'm worried. When it came back I decided to take the first entry out at a loss to reduce the risk if it had gone back to the highs.

I'll show a chart later but I'll tell you the outcome of the trades yesterday

Starting position going into yesterday was
Short 50 @ $2,020

I then added
Short 50 $1,965
Short 50 $1,970
Short 50 $1,978
Short 50 $1,978

Given I'd taken risk off from 200 down to 50 my plan was to add it back on a move up that we got.

Didn't like the action on the market and covered all including my share positions at 1974. Everything moved higher and it looked set to go through 1980 to 1985/90. But after it was sitting up there a while It didn't seem it had the momentum to go higher and there was a good risk reward with a tight stop. So I took back my position (+50 more)

Shorted 300 @ $1,978

Market tanked quite quickly after that.

Covered 100 @ $1971
Covered 50 @ $1964

I held the remaining 150. Market bounced back up but is now down big time in the futures today. I'll trail this all the way down. Hoping for a test of lows and move beyond. However realistic may be 1900-1920 area. Depending on momentum.

Also short 1000 AAPL @ $115. It's safer than short TSLA which smashed me yesterday and squeezed me out.

Hopefully the above gives you some flavour for how I trade a position. I didn't just short and hold. I was prepared to get out and then get back in when I saw good opportunity. I'm medium and long term bearish on market so I'll keep looking from the short side on any bounces. But doesn't mean I won't consider short term long. I'm here to make $

 

[nakachalet]

@hi shorthipsters

thx again for your verbiage on your trade. honestly, i was hoping that you would be
able to show on your live chart, just when you enter your position and when you exit.
but you only offered verbiage which was good, but nothing supercedes a live chart which
tells practically everything another trader likes to know and needs to study.

here are a few more up to the minute live charts for your pleasure and enjoyment.
(this is a single contract setup, among several multiple contracts setups).

all the best trading to you, shorthipsters.

 

[ShortHipsters]

@hi shorthipsters

thx again for your verbiage on your trade. honestly, i was hoping that you would be
able to show on your live chart, just when you enter your position and when you exit.
but you only offered verbiage which was good, but nothing supercedes a live chart which
tells practically everything another trader likes to know and needs to study.

here are a few more up to the minute live charts for your pleasure and enjoyment.
(this is a single contract setup, among several multiple contracts setups).

all the best trading to you, shorthipsters.

View attachment 157114 View attachment 157115

Hey - I sent you a private msg regarding live stuff.


Regarding market....futures have broken the support line as I expected this week and look like over a few days or weeks will ultimately test the recent lows. Short and staying short. Will look to cover and reshort a few times because invariably it won't be a straight line down

 

[ShortHipsters]

This is for the past 2 weeks (21st Sept to Fri 2nd October;

Start = $132,980
End = $137,347

Fortnightly P&L = +$4,367
YTD P&L = +$127,347

TSLA ($7.5k)
ES +$12k
DAX ($1.6k)
AAPL +$2.7k
Brent / Crude +$1k
FB -$1.7k
NFLX +0.7k
The difference is unrealised trades

To show the variance in my account here is a chart of my account balance (realised trades) over the 2 weeks.
Opening $131k
High $142k
Low $122k
Closing $137k

My shorts worked out well after taking a hit on some of the equities but holding onto my ES position. Got into a few short term longs and got caught when ES just didn't bounce back. Took my loss and a decent one at that. I then made a good long after the market had flushed and rode it back up and close it on Thurs 1st Oct. I was flat on the crazy Friday action. Was waiting for a short position which I've now just taken in PM in time for the open in US on Monday. We'll see how that goes.

Still very bearish Medium term but if we break SPY 202 all bets are off. Until then I'll fade any rallies and wait for the retest of the lows. There is no point chasing a short down in this market because some of these rallies are violent.

I'm open to any questions or comments.

Good trading to you all!!

 

[ShortHipsters]

This is for the past 2 weeks

Start = $137,347
End = $143,644

Fortnightly P&L = +$6,297
YTD P&L = +$133,644

My trading was restricted to just oil and E mini's this past 2 weeks;

ES = -$7,568
Oil = +$13,865

I, like most people, have been caught off guard by this reversal in the market. I tried shorting it a couple of times with obviously zero success. Learnt my lesson and have just sat back and watched. In retrospect I should have held my long from before but easier said than done.

Went short in Oil (West Texas Crude and Brent) going into inventory numbers, went my way only to watch it move all the way back. Took a flat. I let it make new highs and waited for it to fail and shorted the bounce. I took double normal size as I had a lot of conviction about the trade. I had about $2k risk to my stops. It was one of those trades that gave me no trouble and after holding for about a day I covered for an almost $14k gain. One of my best trades this year! Captured a circa 6% decline perfectly.

Other than that I've been relatively quiet just patiently watching and waiting. I'm sitting on side lines until ES breaks to new recent highs and heading into the 200 MA it will start to get a lot of overhead resistance. I'll fade a short there for the medium term when I see it shake out the shorts and gather new longs. Quite similar to the oil trade in fact.

Good luck trading!!

 

[ShortHipsters]

This is for the past 2 weeks

Fortnightly P&L = +$2,922
YTD P&L = +$136,566

ES = -$4,158
Oil = -$314
DAX30 = +$2,968
AAPL = +$4,426

Closed a short on ES and glad I did as it ripped much higher. I'm so surprised we've got back here. Very impressive! The DAX was looking weaker and took a short. Closed that off quite quickly. A catalyst is now needed for this market to head down.

I took 300 shares of AAPL going into earning and added 700 on a pull back early on day after earnings. Caught a nice pop. Covered 500 shares at $119.50. I'm still trailing 500 shares. Chart attached showing my buys.

It was a quiet fortnight for me. I've been careful to be extra patient as its easy to lose on market chop.

 

[ShortHipsters]

This is for the past 2 weeks

Fortnightly P&L = +$10,454
YTD P&L = +$147,020

I took the following 8 trades...

DAX -$7.1k
ES -$6.5k
TSLA -$0.4k
FB -$2.3k
BABA -$0.8k
ASX200 +$14k
ES +$12.3k
BKL +$2k (still holding)

Started off difficult where I was still maintaining a short bias while the market was creeping higher. This then turned around when weakness came back into the market beginning of this week. I held as we chopped around for a few days and then finally got a decent move down. I covered at close of Thurs so missed the additional move on Friday but was good to finally get an adjustment on this market.

I'm currently flat except for a short on a local stock, BKL.

Will be interesting to see if this market consolidates to head for new highs or whether this is the start of a move back to lows. Oil looks very weak and the troubles in France will mean the market will probably gap down when future open

 

[The_Wizard_Of_Oz]

Hey mate,

Apologies in advance for posting in your journal, I couldn't figure out how to Private Message you.

I came across a post you had made regarding Prop Trading and your experiences and was hoping to get in touch with you. I am still a new trader although have dabbled in CFD's, FX, equities over the past 10 years. However my primary focus had always been on property investment (i have a few houses back in Australia).

My last stint at trading was a couple of years ago. I setup a small Oanada account and traded with $500 to lean the ropes. I learnt the basics of candlesticks, fib ratios, S&R, risk management .. I traded it for around 3 months, broke even but decided at the time I would move on and focus back on property investment.

After moving to Vancouver, Canada 4 years ago I realized that property investment in North America is a lot slower of a process (gone the days of 95% / 100% LVR like back in Australia). I also work in banking (Operational Risk Management & Compliance) for a large multinational bank (Senior Manager Level). Going from the lower pay I was used to in Sydney I am turning back to look at trading as way to drive wealth and diversifying away from property.

Anyway to cut a long story short I was hoping to see if there was the potential to connect with you. I am not looking for any strategy from someone else (I have one), nor any stock picks or opinions on what to buy (I believe in making your own decisions), I am looking to connect with someone to talk though the progression to become a profitable trader and just mainly to build some contacts.

My strategy is quite similar to yours, I am essentially focusing on two main play types, one of which is trend reversals using oversold close to support with tight stop losses. Using intra-day timeframes of 5 on the opening to allow me to use tight stops. My focus at this stage is on equities although at some time once I have masted my market niche I would like to get back into forex also.

Where are you based?

 

[nakachalet]

hey shorthip

it has been quite a long time

are you still posting your verbiage and your self marked up charts,
instead of your actual live trading charts,
for every trader in the universe to question your integrity and actual performance?

let me see your chart now and see if you really have made significant progress in your
trading toward your set goals in monetary terms, say 2 mil by 2016....?

with all due respects, comrade.

nakachalet@gmail.com