Friday, 23 April 2010

Trades 23/April/2010

LLY (move thru prev day low)

Bearish first followed by bearish subsequent candles with upper tails. The 4th is red closing weak below OR and below whole number. This is our short trigger. Looked good initially, but didn't have enough to get to 1R. Stopped out for a loss a few candles later.

--------- Daily Stats -----------------------


Swing2Freedom said...

Hi Am,
I'm really a big fan of yours, and I have been following your blog for quite some time :)
really thanks for all the post on your trades.
I'm now trying to follow your trading style....
I hope you don't mind me asking you a few question.
I tried my hands on HOV last nite, entered at the 9th bar, and setting an initial stop lost below the low of bar-8.
Am i doing it correctly?
Very much appreciate your feedback. Thanks.

TraderAm said...

I assume you mean that the 8th is your trigger bar ? It's a pullback with NR7, but has pulled back inside the OR. It's not normally a setup I take.


Swing2Freedom said...

So normally, you will treat the OR high as your ultimate support?
if the OR high support is breached, then you will not take the trade LONG anymore?

TraderAm said...

Not quite.

The OR is my line in the sand. I trade the breakout of it, I trade a pullback to it. I trade a pullback above it.

Hope this helps.

Swing2Freedom said...

errr ......
I'm sorry if I annoy you with all these stupid questions :p
but, what do u mean "the line in the sand"?

If you were to look for a LONG trade, how would you treat the OR?

Really appreciate your help.

TraderAm said...

It's just an expression.

For longs: it is as I said before, I trade the OR breakout, I trade a pullback to the OR, and I trade a pullback above the OR.

Have a look at my past trades and the Strategy section on right hand side. That should answer most of your questions.

Swing2Freedom said...

Thanks for all the help.
Really explains a lot :)