The Surf Report

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good morning,

as you know, we gave up most of our profits during the aggressive upmove yesterday. it is interesting and reassuring that the DJIA closed within the channel. we work the system to catch MASSIVE moves and are willing to ride the market in order to capture the big trends. however, once in profits, how one exits is up to the individual. i don't provide set profit targets for this reason. everyone has different goals and i'll show you the entry then it is up to YOU to manage the trade once it is profitable.

today we will be trading our neogann channel of 9503-9457, long above, short below and FLAT in the middle. still holding BBI SHORT. awaiting the inevitable :) :) :D


enjoy !,,

surfer
 
Just passing through ... BBI good idea, I'll pile aboard here.

Surf - read your story a while back - interesting. Just Curious: Given that you and your friend ate humble pie during Desert Storm, how did you make out during Iraqi Freedom? Where you able to apply some lessons? Your experience w/ Desert Storm reminds me of Marty Schwartz' recount of all the $$ he made on the same move ... war is hell I guess.
 
Quote from BlueHorseshoe:

Just passing through ... BBI good idea, I'll pile aboard here.

Surf - read your story a while back - interesting. Just Curious: Given that you and your friend ate humble pie during Desert Storm, how did you make out during Iraqi Freedom? Where you able to apply some lessons? Your experience w/ Desert Storm reminds me of Marty Schwartz' recount of all the $$ he made on the same move ... war is hell I guess.
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hi,

thanks for the kind words. yes, i learned my lesson and did very well on the eve of "iraqi freedom" i have it documented somewhere on this thread as it happened. we are currently LONG here with stops at 9447 at this time. short BBI.

best,

surfer
 
the system caught a massive upwave this morning and we are holding on LONG at this time. entered longs yesterday when the upper channel figure was violated. 100 plus points thus far. 50% of gains trailing stop activated. YEAH !!!

best,

surfer:)
 
Quote from marketsurfer:

the system caught a massive upwave this morning and we are holding on LONG at this time. entered longs yesterday when the upper channel figure was violated. 100 plus points thus far. 50% of gains trailing stop activated. YEAH !!!

best,

surfer:)
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surf,

I was watching your channels yesterday and it looked to me like the lower channel was breached at one point. Did this not trigger a short trade?

I'm sure I just don't understand the rules of your system, having not read through all the posts here (there are so many!). Have you posted the rules in concise format somewhere?

g
 
That confused me too.

marketsurferer said:
"neogann channel of 9503-9457, long above, short below"
then at end of day:
"we are currently LONG here with stops at 9447 at this time."

YM was below 9457 when stopped out and then it went up and closed near high at 9457. It looked like you bought at the lower end of the channel and put a 10 pt stop.

Normally the market is trading within the channel and you buy/short the break of the channel but this time was different.

Nice Trade!
 
Quote from Sanjuro:

That confused me too.

marketsurferer said:
"neogann channel of 9503-9457, long above, short below"
then at end of day:
"we are currently LONG here with stops at 9447 at this time."

YM was below 9457 when stopped out and then it went up and closed near high at 9457. It looked like you bought at the lower end of the channel and put a 10 pt stop.

Normally the market is trading within the channel and you buy/short the break of the channel but this time was different.

Nice Trade!
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I think he is going in INDU not YM. Not exactly the same.

g
 
sorry for the confusion. i am trading the YM and DIA off of the cash index. in other words, i use the cash index to trigger the trades in the YM and DIA not the instruments themselves. furthermore, the channel line needs to be broken by a full three minute bar before the entry is triggered. hope this clarifies.

thanks !!

surfer:)
 
Quote from marketsurfer:

sorry for the confusion. i am trading the YM and DIA off of the cash index. in other words, i use the cash index to trigger the trades in the YM and DIA not the instruments themselves.

thanks !!

surfer:)
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But surf, the cash index broke below the lower channel...why didn't that trigger a short?

g
 
Quote from ges:



But surf, the cash index broke below the lower channel...why didn't that trigger a short?

g
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hi,

it did. we were stopped out of the short with a small loss. sorry, it is difficult for me to report every move. just know we are trading mechanically off the levels for the entries. currently, the stop loss is trailing at 50% of the move .

thanks !

surfer
 
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