8/9/07 General Trade Log / Idea Sharing

[AbeSmith 10]

Hello. The Dow is down this morning. There seems to be concern about financial sector. Good luck.

[AbeSmith 10]

Trade 1: -33. Looks like I'm still yielding to pressures to take more risk than I should. I thought I was immune to these sort of errors by now.

[AbeSmith 10]

Trade 2: -11.

[AbeSmith 10]

Trade 3: -12.

[AbeSmith 10]

Trade 4: No gain.

[AbeSmith 10]

Chart for Trade 4:

[brownsfan019 17]

Abe,

One thing I see - first couple charts are on the 1 minute and then we see a 1250 VBC. Any particular reason for that? Those are both quick charts, so I'm wondering if there's a need to be trying to watch both of them at the same time.

[AbeSmith 10]

Abe,

One thing I see - first couple charts are on the 1 minute and then we see a 1250 VBC. Any particular reason for that? Those are both quick charts, so I'm wondering if there's a need to be trying to watch both of them at the same time.

 

Hey Brownsfan. No particular reason for that. Just experimenting with different chart settings.

[brownsfan019 17]

Hey Brownsfan. No particular reason for that. Just experimenting with different chart settings.

 

OK, that's cool. I was just wondering.

[brownsfan019 17]

Abe,

If it's ok with you, I'd like to give another perspective on your trades from today. Let me know and I'll post the screenshots w/ my commentary and you can tell me what you think.

[AbeSmith 10]

Abe,

If it's ok with you, I'd like to give another perspective on your trades from today. Let me know and I'll post the screenshots w/ my commentary and you can tell me what you think.

 

Not only is it ok with me Brownsfan, I look forward to it.

[AbeSmith 10]

I will be away from my computer for a couple of hours though.

[brownsfan019 17]

Abe,

Here's some charts with my annotations for your enjoyment. :p

 

You'll see rather quickly that I am a big fan of candlestick analysis, esp in real-time on futures charts w/ VBC's.

 

Some of what I typed may not make perfect sense since you are not versed in candlestick analysis. We recently started the Candlestick Corner here on TL and there's plenty of good resources on the internet as well.

 

 

 

[AbeSmith 10]

Abe,

Here's some charts with my annotations for your enjoyment. :p

 

You'll see rather quickly that I am a big fan of candlestick analysis, esp in real-time on futures charts w/ VBC's.

 

Some of what I typed may not make perfect sense since you are not versed in candlestick analysis. We recently started the Candlestick Corner here on TL and there's plenty of good resources on the internet as well.

 

 

 

 

Thanks Brownsfan. That was very helpful. It seems I should pay more attention to candlestick analysis.

[brownsfan019 17]

Candlestick analysis may not be for you in terms of trading off of it, but at least being aware of it is a good idea in my opinion.

 

The basic premise behind candlestick analysis, esp on a VBC, in my opinion is that you will get into the moves much sooner than most. The catch is that you will also get into some false moves as well. The key being can you ride the big moves long enough to make your money.

[AbeSmith 10]

Candlestick analysis may not be for you in terms of trading off of it, but at least being aware of it is a good idea in my opinion.

 

The basic premise behind candlestick analysis, esp on a VBC, in my opinion is that you will get into the moves much sooner than most. The catch is that you will also get into some false moves as well. The key being can you ride the big moves long enough to make your money.

 

Thanks Brownsfan. You are very helpful.

[AbeSmith 10]

Today's trading summary:

 

4 roundtrips. -56. realized paper loss of 262.96.

[Blu-Ray 10]

Brownsfan

 

Nice analysis there for Abe.

 

I'm currently scalping of tick charts so candlestick analysis is a bit of a new ball game for me, although I'm starting to understand it. If I could just run this one past you to get your opinion on it, would be much appreciated.

 

On Abe's chart, I've highlighted a hammer, 2 bars after a hammer, but in the middle of the range, I was just wondering what your opinion would be if, for instance, I come across this again?

 

Would it be a case of just a bad long there or would you have already discounted it, or is it not a bullish hammer at all?

 

Thanks

 

Blu-Ray

[brownsfan019 17]

Brownsfan

 

Nice analysis there for Abe.

 

I'm currently scalping of tick charts so candlestick analysis is a bit of a new ball game for me, although I'm starting to understand it. If I could just run this one past you to get your opinion on it, would be much appreciated.

 

On Abe's chart, I've highlighted a hammer, 2 bars after a hammer, but in the middle of the range, I was just wondering what your opinion would be if, for instance, I come across this again?

 

Would it be a case of just a bad long there or would you have already discounted it, or is it not a bullish hammer at all?

 

Thanks

 

Blu-Ray

 

Blu,

Good question and that's part of constructing a candlestick trading plan. That's a good topic for discussion in our candlestick corner actually.

 

In traditional analysis, that is not a 'good' hammer to go long on. I would be happy if I was ALREADY long, but not necessarily going to initiate a new long on that hammer, assuming traditional candlestick analysis. That does not mean there is not a long possibility there however.

 

Why don't you start a thread in the CC and we'll see what kind of discussions we get going there.

[Blu-Ray 10]

Thanks Brownsfan, I'll give it a go and start a thread on it.

 

 

Cheers

 

Blu-Ray