Today is November 1st. I figured I'd start a trading journel and see how it goes. I will either lose money and look like an ass, or I will make some and people will accuse me of being a shameless guru homo who is only out for himself and to promote his website. Can't win either way, so what the hell, why not. My trading relies on gap statistics (my own work)and volatility based concepts (a lot of Toby Crabels work). I tend to make a few trades a day and I try to make more then I lose. My goal is to average 4 S&P points or 10 NQ points a day. Sometimes I do better, sometimes I do worse. When the market is in a range I tend to scalp for nickles and dimes, when its trending I will try for the bigger pull. When I'm scalping I tend to not do as well, but Im still trying. I try to use everything with a good degree of common sense and technical analysis in the background. Brandon
I'll say this for you Brandon, you are upfront about your intentions. If I ran a site I'm sure I'd be doing the same thing, and I don't hold it against you one bit. The guys that annoy me are the "I feel an obligation to give something back and help the little people, and while I'm at it, how about buying my book, software, chatroom and seminars." Now we have Brandon, we had AllenZ, we have had a couple of others from time to time. I think we may be close to getting critical mass for the official Elite Trader Guru League. Everyday we post the standings, and at the end of the month, someone has won. Anyone interested?
My least favorite kind of market. Looking at the 120 minute charts, the ADXs are very low, and we are just up at the top of a range. This is the kind of market I tend to suck in. Ive had three trades so far today, all losers. Its been an ok week, and I hate to end it on a pissy note, so I am probably gonna take off early. My first trade of the day was a long based on the gap. Statics say we had a very good chance of it filling. I went long at the open (982.5). Got stopped out at 977.5 (8:33). Next I tried a short in the NQ based on a small bear flag. Entry was 979 (8:39), and exit was a few minutes later (8:41) at 980.5. At 10:30 there appeared to be a very nice avalanche forming on the two minute chart of the ES. This also coincided with being near the top of the most recent 60 minute trading range. When the avalanche broke under 889.5 took a short at 889.25. This was at 10:31. The avalanche is a trade that should start working for you almost right away, so when this one did not, at 10:37 took a scratch on it and got out at 889.25. Days net (including commissions) -$148. I may or may not come back later in the day. It might be more fun to help the guys who are throwing insulation into my attic, so maybe I will do that instead of trade. Analysis of the day: It was ok, not great though for sure. I give myself a C+. I think I took good setups and I would take them again. I had considered taking the gap long again after I stopped out, which I should have done but I pussed out. Have a great weekend, Brandon
I certainly would not do it for free, but at the same time I think that in order to do it well you truely have to enjoy helping people as well. The extra money makes it more enjoyable though, I would be a lying sack of shit if I said otherwise. Brandon
I think we may be close to getting critical mass for the official Elite Trader Guru League. Everyday we post the standings, and at the end of the month, someone has won. Anyone interested? I would win almost every month, It would hardly be fair. B
"My first trade of the day was a long based on the gap. Statics say we had a very good chance of it filling. I went long at the open (982.5). Got stopped out at 977.5 (8:33)." I have a question: If you felt the gap was going to close why did you decide to enter on the open instead of waiting for further confirmation like long above a 2 bar high? thanks
Thats a good question. In most cases I do wait for some momentum high to break, for example today I would have almost always waited for 983 to break. Today though I thought I was smart and would make a fortune on that extra $30 I was going to make. On a little bit of a more serious note though, It is very rare as I said for me to just take it right away. Today we opened basically right on the 200ma on the 15 minute chart. If you go back and look at other opens on a 200ma it nearly always bounces (I dont have exact data, and this is out of lazyness coz honestly I should) but I would guess 90% of the time it will bounce nicely. You can go back and look.In retrospect doing it that way threw me off my game, coz I got out basically at the low of the day and it never looked back, but sometimes thats how I am, just as stupid as the next person. Brandon
Brandon I admire your persistence. I trialed your room and liked it a lot. I dont need anyone to make calls for me so I do a lot of trials just to get some conversation. The free rooms suck for the most part. I really enjoyed yours while it was free. You have every right to charge though as the calls are good.One thing Ive noticed about you is that you cant shutup. I dont mean this as a slam. You just like to talk so I understand why you post here and would urge people to cut you some slack and pay attention.