Here are some of my paper trades that I do during the day. I know that Jim pointed out that I have done mostly YM charts, & that is true, but I decided to do some ES paper trading also, so it is be easier for me to relate to the fantastic contributions in ES and other trading that this forum's members are making.

Here are some paper trades today. Kane Trading methods rock!

Kane 4 PCP (won), Kane EXP (exited too early, lost), & Kane Fib-Pattern-Line (won).

Good Trading All,

Al Kamego

Went against it.

Al Kamego

So, why would you do that? And based on what setup?

I thought I saw a good entry point for a Kane Fib-Pattern-Line and entered a BUY. I was stopped out for a 2.50 loss.


Al Kamego

I see. But you broke a cardinal, key KT rule here. As I said in a previous post, I am looking for trend/correction/trend/correction/... Which way is the trend here? Down. Which way is the ABCD? Down. You did something I see 'dacharts' people do all the time, something I never, ever, ever (ever) do, and that is do an ABCD in the same direction as the trend. I only use ABCD's as corrections to trends. So, 'context' here said to be looking short side, hence bearish ABCD's as pullbacks. If you are looking for a long trade, it must be an ABCD as the correction. The entire correction. An ABCD can never be just a part of a bigger pullback, like the last part of it. That's how you went wrong here.

Thanks for the comments. I will reflect on what you are saying. Thanks again.

Al Kamego

Chart.

Good Trading,

Al Kamego

Kane Fib-Pattern-Line ABCD with an 0.886AB=CD in the BC leg.

Good Trading,

Al Kamego

Kane TD completing at 0.382 Fibo Retrace concurrent with Lightning Trade. Also a Kane 4 PCP completing at 0.382 Fibo Retrace. I am happy I signed up for the Kane educational materials and was able to join this website. I have learned so much here, & i still have a very far way to go.

Good Trading,

Al Kamego

Same chart.

AK

Kane DB ABCD and a DBS. I am trying to learn roofer's mantra2. I think this example follows the spirit of the mantra2.

Good Trading,

Al Kamego

Yes, I am still trying to learn more about context. Here is a Kane Flat/EXP ABCD completing at 0.300/0.447 fibo. Kane Flat ABCD Point D gets resistance at Profit Target from previous Head and Shoulders. Cool.

Good Trading,

Al Kamego