excellent point. You may want to consider entering on brackets.... ie profit stop in front and emergency stop behind. Once onboard you can manage your trade by manipulating your two stops, however never increase your potential loss. regards f9
Anek, I have been reading this thread for some time now. I have been using this method to profitably trade 1 NQ contract. Today was my best day +$448 net of commissions. I just wanted to say thanks.
How is the indice movement compared to the futures? Reason I ask is because I don't know how long it takes for them to get arbed and even if there are redundancies selling pressure in one can forecast one in another (even if theoretically they should get sold at same time)
I've followed this thread from the start. Haven't made any money in the last few weeks except yesterday (the day where Anek loses money). I am embarrassed to say I lost money today. I obvious am doing something *seriously wrong* (and all my positions were short today except very early in the morning session). I will post charts later to ask for input from others since Anek is sick. I would really like to see some buy/sells/stops if possible, no chart necessary as I can look myself. Just curious where you guys are buying/selling/stopping. Thanks.
If you are down today chances are you were not following the rules. Post your charts and possibly reread the thread. Today (and I'm not being a dick on this) was a very easy day. Don't let it get to you though. You've figured out today that you have to fix something, now all that's left is to take the next step and find out why you are breaking the rules. If it makes you feel better, I got reemed on my position trading accounting. Had only 1 short and 3 longs going into yesterday. Held on to them a little today because I was longer term on them but after today's action I couldn't do anything but dump them. So ugly. 14000 for dow and 2500 for daq, in my opinion are the targets.
. LOL. Hey... if you don't mind low can I maybe get a peak at your trades today. You mentioned you use ES as confirmation as well. Would like to see what you did today.
What if your profit stop gets hit and reversed on? This is why I don't like to use one, because i usually exit only on a bar that closes above/below last bar or above/below a trendline. The emergency stop is useful though in markets like today... Is this what you are saying or no? I totally agree about not ever loosening your stops though. That is a rule for everyone in this thread I believe that is consistent with AHG's methodology (and most other successful ones).