Feb 21, 2009

Friday's trades

Sorry for the late post but it's been a busy weekend so far. Had a decent day yesterday and felt good that all my trades ended green. No time analysis but take a look at the charts. 

One thing to note is that my COP trade took place off the :10 timeframe. I still used the :15 OR as my area of entry.






5 comments:

TraderAm said...

All green, Good trading.

Josh said...

Hi 00nr7,
I pose this same question to TraderAm, but I also would like your feedback regarding Trader X's 5 set-ups:

(1) Top-Out
(2) Deep Pullback
(3) Push Through
(4) The Re-Take
(5) Perfect Pullback

Have you had any luck trading any of the above? Can you elaborate on the specifics of each?

Thanks, Josh

OONR7 said...

ta: thanks... I'll take it :)

Josh: can't say I know any of those setups intimately but I generally trade #3 and #5 type trades (just going by the name). It may just be me but I'm finding his blog and setups a bit difficult to follow. Although I have been giving the 10-min charts a bit of a look after reading one of his posts. He's doing well apparently and that's all that matters.
Sorry I couldn't be of more help.

Josh said...

OONR7,

Thanks for the prompt reply. I thought it was only me having a difficult time understanding his set-ups. I, like you, trade base & breaks and pullbacks. However, this month is a P&L killer. At one point I was up nearly 10R, but last two weeks I gave back nearly all of it. I now have 7 consecutive looses in a row. While I have not lost faith in my system, I am concerned about this negative trend continuing for several "months" in a row.

What are your thoughts?

Thanks again, Josh

OONR7 said...

Josh... I hear ya. The first week this month was great and I thought it was setting the tone. It was also around the time I started focusing on 3 setups exclusively. The last two weeks certainly haven't been easy and required some 'gut instinct' trade management on my part which has helped to keep me on top for the most part.
However, there have been trades that I have missed and setups that are worth looking into. So while I don't have a crystal ball to see what the market will be like in the coming months... I imagine it will be as challenging as it is today. The challenge for me is to find setups that are consistent in any market and I'm not completely there yet. Thanks for your comments Josh.