AHG - Profitable Strategy for Struggling Traders

Discussion in 'Journals' started by Anekdoten, Jul 19, 2007.

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  1. Tnx M for the feedback, really appreciated!
     
    #3721     Nov 16, 2007
  2. Look for previous support and resistance, major and minor. Place your stop a few ticks on the other side of the S/R (depending on if short or long) ... if too wide... may not be a good entry... if stopped out... little damage done, wait for next opportunity.... (try to avoid using a set amount or percentage) IMHO 4 points is an initial target, your stop should be 1/3 of that.... hope it helps.

    edit (I am thinking ES, NQ target may be a bit larger)
     
    #3722     Nov 16, 2007
  3. ondaflex

    ondaflex

    hw,
    thanks
     
    #3723     Nov 16, 2007
  4. foxthorn

    foxthorn

    R... One thing that really helps me is what Anek calls Strong and Weak candles (re-read thread).

    Someone else mentioned in this thread about forcing yourself to be very happy taking just a small slice out of the middle. I think this is very helpful for rookies - it helps you stop calling tops and bottoms and it helps you enter with more confirmation and less risk. Practice using strong/weak bars...

    Start off by trying to get a small piece of the middle --- once you are successful at that then you can move on to improving the entires/exits even more.

    The other thing that can help is to write down in clear detail only a couple setups you are allowed to take... and look for and take ONLY those -- work on that discipline... Don't chase everything that looks tasty -- stick to your written trade plan and limit yourself to a couple setups you know well. Discipline.

    Believe me, I understand how this is easier said than done --- but that's the discipline everyone speaks of....
     
    #3724     Nov 16, 2007
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    #3725     Nov 16, 2007
  6. mark1

    mark1 Guest

    is this the famous dragon formation I see on a 3-5 min chart? I don't know the pattern

    anyway we are still in a downtrend , not broken yet the down TL
     
    #3726     Nov 16, 2007
  7. mark1

    mark1 Guest

    let's what happens
     
    #3727     Nov 16, 2007
  8. Did anyone take the small W bottom that led to the break of the larger W bottom. I got in initially, got scared by a little selling pressure got out, then got back in once I saw buying again. It's a nice trade so far, but could have been better. I'm hoping to let this one ride as much as possible, since that was a large W bottom at decent support.
     
    #3728     Nov 16, 2007
  9. mark1

    mark1 Guest

    Here the outcome of the trendline break and w formation

    Confluence of signals = strong signal

    I'm preparing these charts while i'm trading, it helps me to stay focused and relax at the same time, no kidding!
     
    #3729     Nov 16, 2007
  10. Razor

    Razor

    Thanks mark,

    How many points ya up ?

    Cheers :D


     
    #3730     Nov 16, 2007
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