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Old Sep 11th, 2011, 11:47 PM   #1
fan27
 
 
Join Date: Feb 2003
Location: Tampa,Fl
Posts: 766
Back in the game after a 5 year break.

Brief History:

Began trading in 2001. Left a corporate job in 2003 to launch my trading career. Traded full time for about 18 months. Toward the end of that period I had 5 automated systems that traded ES and NQ. Four of those systems were long only. The systems were based on back testing which showed good results...also, one of the systems used a double down strategy which I knew would eventually blow out my account. I pulled the plug on the systems in 2006 with an overall decent gain for the account (maybe about 20%). Had I continued trading the systems it would have been disastrous come 2008.

I learned some valuable lessons from my trading experience:

1. Don't quit your day job unless you have a proven track record.
2. Don't quit your day job unless you have a proven track record.
3. Don't blow out your account.

This brings us to today. Why am I getting back in the market now? I thought about investing in real estate lately but I am just not that passionate about it. Trading markets on the other hand gets me excited. So let's get started....
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Old Sep 11th, 2011, 11:54 PM   #2
fan27
 
 
Join Date: Feb 2003
Location: Tampa,Fl
Posts: 766
Trading Philosophy

There are probable a few really good trading opportunities per year in any given market. The key is to be patient for those opportunities and strike when they present themselves.

Strategy

I will be trading futures contracts. Keeping my eye on a few right now but I expect the list to grow. All my trades will be discretionary (no more automated systems) and will be looking for the following setups:

1. Breakouts.
2. Buy/Sell at support.
3. Pullbacks in trend.

Next post I will list my current trades.
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Old Sep 12th, 2011, 12:06 AM   #3
fan27
 
 
Join Date: Feb 2003
Location: Tampa,Fl
Posts: 766
Strategy continued...

I will be primarily looking at weekly charts but will also reference Monthly and Daily charts.


Current trades:

Short ES at 1159

Initiated this a couple of weeks ago. Bought pull back off the bounce. I anticipate we will hit 1000. Stop is currently at 1225.

Long USD Index (DX) at 77.990

I just initiated this trade. Stop is at 74.00. I am betting we will hit 88 for the following reasons:

1. Bouncing off of Long term support...see chart:

http://futures.tradingcharts.com/cha...che=1315800336

2. Good chance Gold is at an intermediate top.

3. Issues in Europe are making the dollar look attractive relative to the Euro.

4. Previous high is around 88.
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Old Sep 15th, 2011, 04:58 PM   #4
fan27
 
 
Join Date: Feb 2003
Location: Tampa,Fl
Posts: 766
ES short is not looking good...stop is at 1221 (December contract).

Let's see what tomorrow brings.
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Old Sep 15th, 2011, 05:26 PM   #5
riskaddict
Registered User
 
Join Date: Oct 2006
Location: East Coast
Posts: 2,007
why 1221?
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Old Sep 18th, 2011, 09:47 PM   #6
fan27
 
 
Join Date: Feb 2003
Location: Tampa,Fl
Posts: 766
Quote:
Quote from riskaddict:

why 1221?
1221 is close to the high price since bouncing off the lows. If we go past that point I feel there is a good chance of us running to 1250.
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