- yesterday morning, lunch and early afternoon looked like a trend day, so i moved my limit order up and got in at 1809.00...
- NQZ09 then ran up to a new high on the day, but sold off into the close...
- offering this contract out at 1828.50...
- bidding 1776.50 for one contract...
- lately, i have been putting in a lot of effort building my discretionary daytrading skills at team trading (fka velez capital management)...i am happy to report i am seeing some progress on this front...
- my focus on discretionary daytrading has led to a decrease in posts and market commentary on this blog...i am looking forward to when i can post here more frequently...
- i hope everyones trading is going well...
***remember this is an illustration of what i am trading and my thinking...my trading plan may change without notice...this is not a recommendation for you or anyone else, to buy or sell this or any other security...trade at your own risk**
Posts
Hey Adam,
ReplyDeleteI noticed your net points per contract essentially doubled so 'team trading' must be doing something right! Great trading.
hi mvw...
ReplyDeleteyeah, on avg, i was netting about 8-10 NQ points per trade...i have been trying to increase my targets...lately the avg trade has been about 16-20 NQ points...team trading has been helpful as well as my increased ability to wait...right now i am long 1 contract at 1809, so i am under water by about 20 points...with some potential additions at lower prices i plan on working this position to net me 12-16 points per contract...this is the plan...
how is your trading going??
adam
there is a caveat to the plan i mentioned above...the NQZ09 is trading towards the upper portion of its trend channel on the daily chart...this suggests that there is alot of room to fall on the downside...if i sense that the NQ will head much lower before it heads up, then i will shift my focus from attempting to maximize per contracts profits, to lowering the average price of my position...if i do this, then once i think that the uptrend will resume itself, i will attempt to maximize the per contract gain...
ReplyDeleteHi Adam,
ReplyDeleteThat makes a lot of sense. Having good buying power is a great tool in trading. At the moment, I've also been trying to increase my expectancy by maximizing the net points of using 1 contract. I'm doing this essentially by experimenting with a longer time frame, and ignoring the noise on the 15 and 5 minute charts. So far it's going well and I net on average of 5-10 TF points per trade, but due to market conditions (and without adding more contracts) there seems to be a cap. I'm looking forward to the day where my account size can accommodate the extra risk of taking on multiple contracts :)
I’m glad you are doing well, keep up the good work.
5-10 TF points/contract sounds very good...keep up the good work....
ReplyDeleteAdam,
ReplyDeleteI am considering joining TeamTrading. Could you possibly email me at nmanjee84@yahoo.com. I would like to pick your brain about the company.