THE STRATEGY LAB
Archived June 2004 Key Trades
Charts below reflect profit targets (PT's) based on Japanese Candlestick s/r levels. Profit targets suggest where the trader should have exited.
However, the trader's actual exit that's posted below in the commentary will not always be exact to the profit target (PT's) due to real trading conditions.
Simply, no matter how well the destination (exits) are mapped out...
The goal is to follow the trading plan outlined by the strategy as best as possible...the goal is not to be perfect because every experience trader knows that's not reality.
Remember this...if you are a struggling trader or a trader that wants to be more profitable...contact us about either IRC room mentioned below to help develop yourself into a consistent...profitable trader.
More importantly, we highly recommend you ask either NihabaAshi or any other #FuturesTrades member for help if your struggling trader not meeting your trading goals.
Attention: Not all members of #FuturesTrades are clients of TheStrategyLab.com
In fact, many traders are using their own trade methodology or the strategies from another website and we do not market our strategies in #FuturesTrades nor do we allow others to do the same...
Thus, #FuturesTrades is a spam free room.
Key trades of the month that's posted below represents trades by either NihabaAshi or trades by another user of the strategies by TheStrategyLab.com
No presentation is being made that other traders will or is likely to achieve profits similar to the trades shown below via becoming a member of #FuturesTrades realtime trade posting room.
These highlighted trades are not based on points. They are based on a trader's ability to recognize a repetitive price pattern and exploit the trade management of the price pattern...initial stops, trailing stops, profit targets and any contingency plans (re-entry signals).
All trades were posted in #FuturesTrades realtime trade posting room and you can view archived past key trades.
You can also use the following to search for further explanation of any terminology mentioned at this webpage...
If the internet doesn't provide you with an adequate explanation to help with your trading...contact us us for additional trading tips and explanation about anything mentioned below.
June 25th Friday 2004
Click on chart to see full size
Chart by QCharts
The entire month wasn't about trading. Instead, it was about preparing to move into the new house.
Therefore, the goal for the month was to complete the month with a minimum of 50 points and to have at least one trade that captured at least 75% of a big trend.
The above goals were accomplished and this particular trade was the key.
Traditional application of Japanese Candlesticks usually isn't reliable all by itself. However, if you understand Price Volume analysis or have access to some high probability candlestick patterns not found in any book...
One of the keys to profitable trading via Japanese Candlesticks is WRB's. Sometimes I call these wide range body candlesticks.
The 0945am est Consumer Sentiment and 10am est Existing Home Sales key economic reports produced enough volatility to setup a nice trade signal.
To fear volatility is to fear profits
Upon the completion of the 1025am est 5min interval...a WRB was formed so I decided to spy upon the 1min chart interval to look for any WRB divergence signals...
Such appeared at 1037am est (1min chart) along with the daily chart analysis at the end of the prior day showing resistance from a long upper shadow back in April...
Short Entry @ 1145.50
Lots of supply and not enough demand
In addition...after my entry and upon completion of the 5min chart interval at 1040am est...the Short position got an extra confirmation via the Gravestone Doji that signaled exhaustion (not enough buyers to push it higher above 1146.00).
For all that's said above about advanced Japanese Candlestick patterns...I have a well written trading plan and such isn't found in any Japanese Candlestick book.
Profit target 1 was reached easily...covering @ 1144.25
Early entry for profit target 2 with actually was reached until around 1145am est whereas I covered around 1111am est...covering @ 1143.75
After the poor management of pt2...pt3, pt4 and pt5 were via the trading plan...
Covering the remaining contracts @ 1143.00, 1141.00 and 1137.50
Here's something interesting about the last contract covering @ 1137.50
That was the fill of a Hidden GAP. If you don't understand what those are you are leaving profits on the table almost every trading day...
Contact me for a better explanation.
Trade Signal Source: Archived Seminars/Workshops
ES closed the trading day @ 1135.00
Overall Trade Performance:
Realtime Realtime1 Realtime2 Realtime3 Realtime4
Archived Past Key Trades
Remember this...there are successful traders in #FuturesTrades consistently making good profits each week in either ES, ER2, YM, NQ, SPY, QQQ, DIA and Eurex DAX.
Many of these traders are either making a living in the markets via trading full time and others are just supplementing their incomes via trading part time.
There are others in the room as beginners or struggling just trying to grab a few trading tips from the veterans to help them turn the corner to profitability.
Last of all, there are a few in the realtime trade posting room that have exhausted their self-taught methodology without any success and are using the room to monitor NihabaAshi and other users of the fee-based strategies and free resources by TheStrategyLab.com to determine if such is what they need to get on the road to profits.
M.A. Perry and Associates
The Strategy Lab
"Instead of spending all day analyzing and discussing the market, I just react to highly profitable situations and find setups of high probability with high reward to risk ratio situations." -Anonymous
Copyright © 2002-2004. The Strategy Lab. All rights reserved.