Anek, I'm very new to futures trading; however, I've traded stocks and options for years. In another post, someone mentioned you traded in the "puretick" room. Is that where you learned to trade? Would it be worth my time to get an education in one of the paid rooms? If so, which one would you recommend? Thanks, Tyler
B, Not a bad job. This requires certain practice skill so definitely a good start. Remember to use HA bars to let the winners run, this allows you to keep accuracy below 50% with comfort. Attached some opportunities I see in your chart.
Tyler, My style of trading is very different from Puretick. I definitely did not learn to trade there but I joined the room to ease the transition from equities to futures. Had been a daytrader for many years already. For newbies looking to get their feet wet it's a good environment to get started, at least do the trial, can't hurt. Once I realized I was in a completely different level I decided to leave the room and do things on my own. Sort of like the market and I, without distractions. No regrets. The head trader's style is very much different from mine and he should be able to teach you a few things or two. For more experienced traders I don't think it is the right environment. Anek
The Titanic called, it just saw the YM underneath the sea. Man, they are selling it hard. (Around 200 in AH) Too bad I suck at swing trading Anek
They say the best trades are the hardest to take...... Coincidentally they offer the least heat so if you were right you will know from the start. You got to believe in the method and that goes for anyone reading this journal. If you don't believe in my method, by all means, don't trade it. Today I took two stop losses in a row. What came next was a 91 point short with minimal heat. Develop those skills, use sim until you do, will save some bucks until you get good at it. No shame in that.... Anek
My two afternoon trades: So 3 wins today and 1 loss but I don't think I did the system much justice. Anek, if you get a chance please provide input on these two afternoon trades. Red line short entry, green line cover exit on both. Cheers http://i11.tinypic.com/53sk37b.png http://i10.tinypic.com/4l95xms.png
Razor, On your first screenshot the short is simply a stop out, no escape there, it reversed and you take your loss. However, since you didn't short the ones that did work, you end up losing money for not being on top of the trend. Sooner or later they all reverse, unless it's one of those massive trending days. On your second screenshot, I'm not sure why you took that one. Can't see the reason. I marked congestion with a circle. Double Bottoms/Tops with horizontals. Arrows indicate other good places to enter. Anek