AllenZ's Journal

Discussion in 'Journals' started by AllenZ, Oct 1, 2002.

  1. m_c_a98


    Concerning NQ, I have to say that I don't like it anymore. I only trade two markets now, ES and ZB. And the Bonds is a fully mechanical TS system, and ES is discretionary. I have a much higher hit rate with ES and most days I'm just banging out a couple trades and then stopping for the day. I find trading support and resistance with the S&P is much more precise than the Nasdaq. S&P I can usually get good entries where it just goes quickly 2 or 3 points in my favor and usually I'll just bail with a couple points maybe 3 or 4 times.

    The locals(or other professional traders) seem to control ES very smoothly and its easy to trade with them or just bail out with a tiny loss when real buying or selling comes in.
    #41     Oct 7, 2002
  2. What kind of freakin' solicitation is that man? What does this look like, your personal website?

    Take your journal and hit the brix. If those are the kinds of trades you guys pump out, I can't wait to login.

    Hopefully it costs a lot of money because it sure seems worth it.

    There Z, I'm not much for bashing, but I just didn't want you to be disappointed.

    #42     Oct 7, 2002
  3. cheeks


    I'm enjoying the journal.

    Nice trading.
    #43     Oct 8, 2002
  4. Hendrix


    I too am enjoying the journal.
    Regarding the lack of bashing, I think that, given that you are showing us how you trade, answering questions, etc etc (and Brandon does this as well) you are being forgiven, given that you contribute to the ET community in a meaningful way.
    Others, who do and WILL get bashed, are probably more overt in their advertising, and less forthcoming in their contributions.
    #44     Oct 8, 2002
  5. Miki


    Today I was trying to second-guess the market too. I deserved the wrist slap I got!

    VIX is pointing to a bouncy Tuesday – I will be probably looking for shorts then (bloody well hope not!).
    #45     Oct 8, 2002
  6. OK Allen, you wanna be bashed... so here goes...

    Quit spamming these boards with your highly educational posts and teaching people how to trade... you are increasing the competition :mad:

    .... seriously, you do a great job here, keep up the journal and the commentaries....

    #46     Oct 8, 2002
  7. Fluid


    Ending the week on a positive note is only important from a "psychological point of view" because you are making it so. The market knows nothing of your measurement of "week"; the concept is created in your mind only. Overcome this folly if you want to reach your potential.

    To understand this game you must become "market-like"; anything else is like trying to swim without ever jumping into the water.
    #47     Oct 8, 2002
  8. AllenZ


    Today was a wild ride!

    First I want to thank those who came to the chatroom for todays open house.

    Today we had what I consider the most difficult kind of day. It was day besieged by news as Bush was on and off TV all day over the Dock Workers. I did not make my first trade until noon and most of the day was too volatile to hold tight stops, although we did get one nice move.


    Trade 1 - 12:01 Long 801 Exit 801 flat
    Trade 2 - 13:33 Long 806 Exit 814 +8
    Trade 3 - 14:28 Short 820 Exit 818 -2
    Trade 4 - 15:24 Long 819 Exit 816 -3

    Day Net +3
    Week Net -5
    Month Net +27

    Trade 1 - 5min pivot following the break of the 30min low. We passed on the first pivot and entered on the second. I will do this occasional when certain signals arise that let me know " there will be safer entries ". Certain patterns reoccur at lower levels, the key is to be patient and wait for them. This trade worked eventually after holding for 35 minutes and hitting 75% of the target i moved stop to breakeven and stopped flat.

    Trade 2 - 50% retracement from a higher high. Typical trade for me, took awhile to work but we nailed the entry. Could have held for more but not a good day to overstay and welcomes.

    Trade 3 - 5min pivot short following break of 30min range. Same as first trade, hit 75% of target then stopped out near flat. Had we waited for the second pivot would have worked nicely, truly a day of robbery. I felt "on" today but could not get a true break.

    Trade 4 - 50% retrace from trend low to trend high. Late in the day pullback entries are tough, I really wanted this trade but i feel it did not have to to mature and eventually time stopped it for small loss. I dont like to be in potions after 15:40 if I can help it.

    Thanks again for coming out to the open house.

    #48     Oct 8, 2002
  9. x-or


    Thanks for your input. The funniest is that I fully understand what you mean. I just have to act on it now...

    I don't know if you have a lot of trades hitting 75% of target that ends flat. What do you think about paring out some profits at these levels ?
    #49     Oct 8, 2002
  10. I've noticed this as well the last few weeks.
    #50     Oct 8, 2002