8/10/07 General Trade Log / Idea sharing

[AbeSmith 10]

Hello. The Dow is down in premarket. Good luck.

[brownsfan019 17]

Good trading Abe.

 

Decent movements already in the first 6 min's. That's the beauty of a VBC - I am in trade #4 already this morning and so far, so good. With a 3 minute chart, I'd be staring at 2 candles. I have 19 candles on my VBC. :woah:

[AbeSmith 10]

Good trading Abe.

 

Decent movements already in the first 6 min's. That's the beauty of a VBC - I am in trade #4 already this morning and so far, so good. With a 3 minute chart, I'd be staring at 2 candles. I have 19 candles on my VBC. :woah:

 

Good trading Brownsfan.

[AbeSmith 10]

Trade 1: -13.

[AbeSmith 10]

Trade 2: +17.

[AbeSmith 10]

Trade 3: -12.

[AbeSmith 10]

Trade 4: -12.

[brownsfan019 17]

Abe,

I am going to strongly suggest you get a book or two on trading with candlesticks. Just looking at a few of these charts, I think there's some great trading opportunities in front of you if given the right tools.

[AbeSmith 10]

Trade 5: +56. Momentum trade following news of Fed injecting more money to add liquidity to system for second time today.

[AbeSmith 10]

Abe,

I am going to strongly suggest you get a book or two on trading with candlesticks. Just looking at a few of these charts, I think there's some great trading opportunities in front of you if given the right tools.

 

Thanks Brownsfan.

[james_gsx 16]

Brownsfan maybe you can help me with this trade.

 

I went short at the breakout on the pivot for +17. Not a bad trade at all but looking back I think I see a doji just before hand, would that have been an indicator to get on the move earlier? What about the candle just before it? I also see that hammer at the top of the chart, was that a bearish signal as well?

 

As you can see I circled it in green, thanks!

[Nvesta81 10]

Abe are you trading real money? I tried today for the first time, ouch lol... - 84 ... back to the drawing board.

[brownsfan019 17]

Brownsfan maybe you can help me with this trade.

 

I went short at the breakout on the pivot for +17. Not a bad trade at all but looking back I think I see a doji just before hand, would that have been an indicator to get on the move earlier? What about the candle just before it? I also see that hammer at the top of the chart, was that a bearish signal as well?

 

As you can see I circled it in green, thanks!

 

Do me a favor- give me the screenshot again w/o your circles so I can see it a little clearer. Thanks.

[AbeSmith 10]

Trade 6: +59. Traded on 200SMA's resistance.

[brownsfan019 17]

Abe are you trading real money? I tried today for the first time, ouch lol... - 84 ... back to the drawing board.

 

Nvesta - what has your backtesting shown? Is today going according to plan or did you stray? Taking one losing day (and it's not nearly over yet) and quitting is going to get you nowhere fast, except a smaller account each day.

[AbeSmith 10]

Abe are you trading real money? I tried today for the first time, ouch lol... - 84 ... back to the drawing board.

 

Hey Nvesta81. I'm still paper trading.

[Nvesta81 10]

Nvesta - what has your backtesting shown? Is today going according to plan or did you stray? Taking one losing day (and it's not nearly over yet) and quitting is going to get you nowhere fast, except a smaller account each day.

 

I tried Jerry's Method and got killed in the YM, most likely because my stops aren't wide enough, but so far it's going against the 'volume distribution' skew anyhow.. so I guess I would have got stopped out either way unless I placed a 100 point stop which I can't afford lol...

[james_gsx 16]

Brownsfan, I couldn't seem to edit the image and delete the circles so here is just a current screenshot and I pointed out where my trade was (but didn't block any candles).

 

Thanks.

[brownsfan019 17]

Brownsfan, I couldn't seem to edit the image and delete the circles so here is just a current screenshot and I pointed out where my trade was (but didn't block any candles).

 

Thanks.

 

I highlighted in white possible trade setups looking just at candles and nothing else.

 

 

[AbeSmith 10]

Trade 7: +20.

[AbeSmith 10]

Trade 8: +19.

[james_gsx 16]

I'm going to paper trade the ES the rest of the day. My system has been working very well for the YM and I want to try the ES, I'll see how my system does and how price action differs and is similar on both.

[james_gsx 16]

ES seems much more scalper friendly, price movement is a lot faster obviously. I'm still a bit intimidated, but I'm doing pretty well.

 

How is everyone else doing?

[brownsfan019 17]

ES seems much more scalper friendly, price movement is a lot faster obviously. I'm still a bit intimidated, but I'm doing pretty well.

 

How is everyone else doing?

 

James,

Don't let the big bad ES intimidate you. I think it's just like the others, but with more volume. As you want to trade more and more volume, the ES is the most liquid so I think it's a good market to trade.

[AbeSmith 10]

Trade 9: -17.