THE STRATEGY LAB
Archived September 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.
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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.
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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.
September 16th Monday 2004
Click on chart to see full size
Chart by QCharts
The chart doesn't show it but from 0930am to about 1042am est was a very strong uptrend in ER2 Russell 2000 along with the other emini futures.
Also, after such a strong uptrend...its normal to be looking for reversal signals or continuation signals.
With that said...I got no reversal signal and I was now looking for a continuation signal and got one via one of my custom Japanese Candlestick patterns.
A pattern not discussed in in-depth details in any candlestick book nor website except for fee-based clients of TheStrategyLab.com
However, I will give some big hints:
Dark Hammer line, Harami position and decreasing volume.
the White Shooting Star is one of my favorite short signals among Japanese Candlestick patterns.
The trading plan for it involves 3 different type of White Shooting Stars.
This particular type requires a delay entry after the actual short signal.
My entry error was that I enter too soon and when I got an actual confirmation to entry (5mins later)...I took the opportunity to add to the position at a higher price to compensate for the earlier mistake.
Long Entry @ 573.30
Japanese Candlestick patterns combined with price volume analysis is a competitive edge
The key aspect for the trading plan for this Bullish Dark Hammer pattern is that there's a very tight initial stop due to the usual entry location.
Other than that...after the entry...I exploited the supply and demand via WRB candlesticks as each profit target was reached.
Actually, this was a slow developing and boring trade as I stuck to the trading plan.
Initial stop was threaten but after that...trailing stops was never in any danger of being picked off.
Exited @ 573.80, 574.10, 574.40 and 575.10
Trade Signal Source: Intraday Market Tendencies Report
Overall Trade Performance:
Realtime Realtime1 Realtime2
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.
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