nice trade andy!! what made you exit where you did? I assumed you would trail on the 60 min as well? obviously not. that was some trend though. looking at the 5 min chart, i count 5 ross hooks. i remember a comment by joe somewhere that these days markets rarely give more than 3 ross hooks in an intraday trend.
Hi Fred, to be honest....I just did get out because I had to leave in the afternoon and I thought it was enough $$$. Please don't tell anybody ;-) Take care, Andy PS About the number of RH's - I guess it really depends on the time frame you are trading. Also a RH is not the same as a RH...unfortunately. Sometimes it looks nice on the chart but when you take it in real time you get kicked out 3 times. I personaly would take every entry till the market tells me that this was the last RH...and then gives me a 123 to go the other direction...(or if I have to stop because it's getting to late).
Todayâs Day Trading â 05/16 Mini Russell 60 minutes: 11:30am â Long TTE (RH) at 5890, stop/first target 10 ticks â all out at 5880. Results of today: -20 ticks (-$200) 1 trade Euro FX 60 minutes: 10:20am â Long TTE (RH) at 12650, stop/first target 10 ticks â all out at 12640. Results of today: -20 ticks (-$250) 1 trade Here are the results for this month: May: Euro FX: -48 ticks (-$600) 7 trades Mini Russell: +65 ticks (+$650) 4 trades To be consistent with my recordings I add my monthly summary (hypothetical result due to 2 contracts): April: Euro FX: +0 ticks (+0) 19 trades Mini Dow: -40 ticks (-$200) 15 trade Mini Russell: +8 ticks (+$80) 12 trades Mini Russell new method: +48 ticks (+$480) 5 trades March: Euro FX: +38 ticks (+$475) 32 trades Mini Dow: -20 ticks (-$100) 4 trades Mini Russell: +12 ticks (+$120) 7 trades February: Euro FX: +103 ticks (+$1362.50) 37 trades Mini Dow: -10 ticks (-$50) 13 trades Mini Russell: +55 ticks (+$550) 12 trades January: Euro FX: +76 ticks (+$950) 23 trades Mini Dow: -46 ticks (-$230) 9 trades Mini Russell: +120 ticks (+$120) 3 trades
Dear Traders, as we can see trading the RH's and 1-2-3's just doesn't work at the moment. Whenever you get a break out, the market comes back and you are not able to get into any trend. Because of this reason I will stop trading the RH's and 1-2-3's for the moment. If market conditions change I will start again. BUT just because we do not have any trends we do not have to stop trading...right? I will start taking about trend - fading trading methods. I will come up with some ideas in the next few days. Happy trading, Andy
Last I heard Andy had to a get a job serving those fancy tequila drinks at one of those fancy resorts down in the Caribbean... Or maybe it was that he was being served those drinks and taking it easy for awhile...
Hi guys....yes it's true, I am spending my bugs on the beach ...unfortunately only for 2 days ) I am not day trading on the daily chat anymore. The indices just do not trend enough at the moment and I can not see any possible change at the moment. I have started to trade a trend fading system beginning of this year. I have developed and tested it during the last quater of 2004 and now we trade it. Unfortunately I am trading other peoples money with the system and I can not tell any details. I am sure you understand. Hope everybody is doing great. And remember, whenever you have lost enough in day trading have a look at the spreads Happy trading everyone, Andy
BACK! Hi Guys, because there is some good movement in the Euro FX at the moment, I am going to do some day trading again. I am not running any chat about day trading at the moment so I will do some trades only on my gut feelings. If I think the market isn't right, I just don't trade. I only will do some scalping most of the time. Mostly 1-2-3's and Ross Hook's and also some reversals. If you don't see any postings on some days I just didn't trade. I will not use any hyp. account all I will do is to post a chart about the entry and the exit. I hope this helps. Happy trading, Andy