josh 

Last night I had my single best trade ever on HSI. The premise was shorts in the hole covering and profit taking from Friday's monster selloff -- I bought 22534, looking for potentially a multi-day move up, set a stop below 22500, walked away, and came back a little over 10 minutes later to a monster move. Maybe I should have left it as-is, but when I get a 400 point move in just over 15 minutes, I'm out -- I sold 22909 for almost 400 points. For the evening I wasn't really "trading" since US/EU markets were closed Monday, so it was my only trade - 10 ticks of heat, no stress, wasn't even at the screen. Unfortunately it was mini HSI and was only 1 lot, but I have never had a 400 pointer on a single contract R/T until last night. I thought we'd see a squeeze, but was expecting it to take at least the whole session, not 15 minutes. I didn't want to share as I didn't want to sound like I was bragging but we all know a 400 point move in 15 minutes, even on HSI, falls into the "lucky" territory, even if the premise of the trade was spot on. This was on IBKR, not CQG, as it was a different account.

nice! its one of those outliers that mess up your R/R spreadsheet for a month.

amoeba 

nice! its one of those outliers that mess up your R/R spreadsheet for a month.

MMMate that is awesome, some brag about a 10 bagger but you've made a 40 bagger!!....great to hear you smashed it!! Absolutely nothing wrong with reporting SUCCESS as it's a rare commodity in this business and I hope we can hear more of it in the future!! I still remember my first ever HSI trade....went long and watched a $500 profit turn into a $100 loss...completely clueless and probably one of the reasons I scalp intraday after the pain of that trade. I just don't have the screen patience anymore. Shame really as patience = profits.

The HSI lately is a beast....moving so fast and very surgy...you really don't want to be on the wrong side and another example of why everyone needs stop loss's attached to EVERY trade.

Hope the market continues as it's been a great month for HSI and my SMSF account!!

Godzilla 

Absolutely nothing wrong with reporting SUCCESS as it's a rare commodity in this business and I hope we can hear more of it in the future!! The HSI lately is a beast....moving so fast and very surgy...you really don't want to be on the wrong side and another example of why everyone needs stop loss's attached to EVERY trade.

I knew you'd see it that way, which is why I knew you wouldn't mind me posting it on your thread. We all go through ups and downs. Some people see success and they resent it, but that kind of attitude will never win long term. We have to celebrate with each other, even when others are doing better than we are. If I've had a bad day/week, and I see you post your weekly results and they're good, it actually inspires me -- if someone else had a good week, and I didn't, that gives me inspiration to turn it around next week!

Yes, the HSI has been wild -- got to give it proportionally more room to breathe, and increase the targets, IMO.

josh 

I knew you'd see it that way, which is why I knew you wouldn't mind me posting it on your thread. We all go through ups and downs. Some people see success and they resent it, but that kind of attitude will never win long term. We have to celebrate with each other, even when others are doing better than we are. If I've had a bad day/week, and I see you post your weekly results and they're good, it actually inspires me -- if someone else had a good week, and I didn't, that gives me inspiration to turn it around next week! Yes, the HSI has been wild -- got to give it proportionally more room to breathe, and increase the targets, IMO.

Hi Josh,

Yep a "growth" mindset is essential in this business....hard to succeed without it really. My kids get it at school everyday....I wish it was compulsory for everyone.

+40 tics (4/5) today then turned it off (1st trade was a bit silly) , not feeling great as I had a monster bike ride this morning and need a little lie down to recover I feel like I'm leaving a bit on the table with the volatility but not wise to trade when not 100%. Missed a few trades with the blue dots that moved too fast to execute.

Hi Godzilla,

Really enjoying your posts! Thanks heaps

What do the blue dots represent? And I was wondering if you'd mind including a brief commentary on your PATs entires? I'm a PATs newbie and would find this really valuable

Cheers

emmett 

Hi Godzilla, Really enjoying your posts! Thanks heaps What do the blue dots represent? And I was wondering if you'd mind including a brief commentary on your PATs entires? I'm a PATs newbie and would find this really valuable Cheers

Hi Emmett,

The blue dots are good entry points which follow one of the PATS set-ups patterns which are in summary - for the long entries (opposite for shorts) - 2EL(2nd entry longs),F2ES (failed Second entry Shorts) ,BPB (breakout pull backs),Traps (failed breakouts) - but the real secret is to "know" when each type of pattern works best.....and to ensure your reading the support/resistance levels correctly as the essence of PATS is to buy at support and sell at resistance which makes complete sense.

Best advice is to watch Macks' YT video's as he goes through each days best trading set-ups.....these are priceless - I watch them everyday to get my brain working in the correct frame-of-mind each morning.

Enjoy.

Godzilla 

Hi Emmett, The blue dots are good entry points which follow one of the PATS set-ups patterns which are in summary - for the long entries (opposite for shorts) - 2EL(2nd entry longs),F2ES (failed Second entry Shorts) ,BPB (breakout pull backs),Traps (failed breakouts) - but the real secret is to "know" when each type of pattern works best.....and to ensure your reading the support/resistance levels correctly as the essence of PATS is to buy at support and sell at resistance which makes complete sense. Best advice is to watch Macks' YT video's as he goes through each days best trading set-ups.....these are priceless - I watch them everyday to get my brain working in the correct frame-of-mind each morning. Enjoy.

Thanks Godzilla, yes I'm currently trying to soak up PATs info like some sort of demented sponge! Mack's material is absolute gold. Is it worthwhile signing up to his premium members area?

Also, have you tried scalping his Square of Nine method at all?

By the way, which setup was the second dot?

Cheers

emmett 

Thanks Godzilla, yes I'm currently trying to soak up PATs info like some sort of demented sponge! Mack's material is absolute gold. Is it worthwhile signing up to his premium members area? Also, have you tried scalping his Square of Nine method at all? By the way, which setup was the second dot? Cheers

Hi,

I haven't heard about Square of 9 method - What is it ? Does it work?
The second dot is a weak Break out pullback the market turned stronger before it making it "more" likely it would work..

Godzilla 

Hi, I haven't heard about Square of 9 method - What is it ? Does it work?

It's in his "Simple ES Scalping Technique" manual. Basically, he scalps 4-tic bounces off Gann Square of Nine lines on range days. Seems to work like clockwork on the ES (according to Mack). I get the impression it's directed more at traders who don't really want to dedicate themselves to learning his price-action methods and who are content to scalp without the prospect of runners.

Cheers

Todays chart....+68tics....followed the rules and showed a bit of discipline....you can tell when your reading the chart correctly as the trades close-out within 60 seconds(on average) - (ignoring my second trade loss for picking a poor quality set-up) ..there is some sort of vacuum where a lot of traders are trapped as they race to close out their losing trade it drives your trade into profit faster....it's almost like you can sense a poor trade by the price action within 10 seconds. May be this "sense" come from watching the chart action every day for over 2years now....Mack was right...it takes a lot of screen time but it's worth it.

But think about it, if a clown like myself can do it....you can do it too!!

I really hope the Indian curry shop is open as with the kids back at school from this week I can take the wife out for a feast for lunch...haven't had it for weeks...cravings!!