Hi, Net Loss -$265, ok here it is, was down by more than $500 before 1030am est doing some really undisciplined, rookie crap....anyway, managed to ride the trend back up and recover 1/2 the loss and wads done by 12pm est. Silly stuff but I have not done anything this foolish for months so I will just write it off as a one off......back at it tomorrow. No equity trades today. Cheers
Anek, Can you please post when you took the symmetric triangle play near end of day with a chart if possible. Thanks DisiplineTrader
D, Sure and I'll post the live commentary. 15:53 * Anek buys NQ 71.25 (crazy swing long) 15:54 Anek Playing the bounce on the multi day triangle 15:55 Anek Basically if Im wrong, small loss, if Im on the right side could be a potentially monstrous play 16:45 * Anek sells NQ 92.00 from 71.25 for +20.75 half position out stop to BE + 5.00 Stout time my friend. Anek
I was out today.... could someone give me a brief market summary? or point me to something.... I see dow and s&p down on the day, nasdaq up on the day, and everything up sharply after the bell.... screwy, huh? edit.... ok, I see everything, including nasdaq, was down at 4pm but everything up after the bell...
Thanks Anek for the chart and the log. I appreciate it. Is this log from a chatroom thats available for AHG 'ers. Thanks DisciplineTrader
Unless they went ahead and started the chatroom without me, my guess is that dialog took place in Anek's head.
Thanks for the support guys. I am always really harsh on myself, though. I feel that I should have broke positive but it was my discipline that forced me into crappy trades. Anek... this ones for you. Today I had some good trades somewhere in the middle of the day I was up around 200. Then I proceeded to keep getting trapped into what I thought were new trades both short and long and I would get stopped out for small losses in each case. I have been working off of 333 vol charts for the nq and i enter on a channel/trendline break as well as an engulfing candle. This gets me some entries into some really strong trends where you have v tops and bottoms (ie, the ping ponging back and forth in the triangle). I just didn't have the skill I think to trade this way and make the turns as fast as I needed to. Is there any reason to go for 3-5 point scalps on my timeline? I feel I could if I just practiced more on days like today. If I could trade today, I definitely could do any other day. I will mark up what I should have done later today and then post what I did as well. I have a feeling that if I referred back to my anchor char more often and only took the v tops and bottoms at major support/resistance the r/w would have been better and today might have actually payed out well... Thanks.
Anek, when you say "obvious chop" what made it obvious to you? The symmetrical triangle wasn't apparent in ES today unless I'm missing something. Was there anything else I could have seen there to tip me off? Volume was about the same as yesterday all day, not like it was a light trading day or something. There were a lot of wild swings today, where the market was chugging along in one direction and then changed direction before you could react, I mean seconds. I thought about fading some of those around fib levels, where they seemed to reverse, but I did one time I ended up getting quickly stopped out. Then I stupidly reversed my position, thinking it was going to continue in that direction, which it didn't, accounting for a big chunk of my loss today. It wasn't pretty.
Not quite I was just supporting a friend in IRC. Chat rooms are evil, they break your concentration, eyes on the screen bud. Anek