This is exactly how I want to trade and I really, really hope I can keep this up. I am saying this not because this JPM trade was such a huge winner in dollar value, but because I think I executed according to my plan and my rules. I did not enter too soon and I did not exit in a hurry. I may have given up too much with my final exit, but I hope to keep improving there as well.
The rational for this one is simple and it matches my bull flag setup parameters:
- Initial decisive move with good volume.
- Orderly pullback (bull flag) on declining volume
- A bullish candlestick resuming the move up. That could be a bullish candlestick formation such as an offsetting bar, a hammer, etc.
- The bullish candlestick finds support from the rising 5EMA
- An IB after the bullish candlestick is a plus
Jamie: Your NR7 post is helping me a lot in defining trading rules. Thank you!
11 comments:
Great job Anarco!
Thank you Jamie!
The session started with a bit of frustration for me because most of the stocks I had selected for my FL today, did not pan out to a good beginning, and I did not find an entry for POT either :-(
Anyway, hope you had a good day too!
Way to go. Nice hammer. Btw, top hldgs of FAS; gs jpm bac ms c. Good to have it layin around for a confirm. What a truck load of cheepie financial stocks ramping, $2-12 scan...rdn!! I'm looking at these Th, rockets.
Very nice trade Anarco.
the JPM entry could not have been more perfect anarco. good job dude.
Thanks Stewie!
maybe you didnt like the final exit, put the arae where you took the partial was epic. nice trade.
more & more i think effective patience, discipline and effective scanning (locating good set-ups) is key to success.
to BL - rumor going around that broker-dealers are selling leveraged ETF funds & putting clients in MFs where they can charge upfront load. Again - RUMOR.
maybe you didnt like the final exit, put the arae where you took the partial was epic. nice trade.
more & more i think effective patience, discipline and effective scanning (locating good set-ups) is key to success.
Hey QQQBall~
How are you doing these days? I hope you and your trading are doing well.
And yes ... I agree with you. My basic concept is:
Consistent Methodology + Consistent Execution = Consistent Results. That is why I have been working very hard in geting my trading rules squared away.
Cheers,
I have been doing more swing trading lately & working, easing my daughter into trading the Qs this Summer - its been a good year. Will have 2 children in college this year; one overseas & one not too far from you, so when the work comes, I take it.
I have been
Sounds really good QQQBall!
Glad to hear things are going well.
Cheers,
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