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Meeting summary for Sabre Trading Group (12/01/2023)


So, Zoom now has the option of create AI-generated Summaries after each meeting. Let me know what you think!


Quick recap

The topics discussed by Anthony in the meeting include the performance of their trading system, potential updates to their trading journal, risk management strategies, market dynamics, the current market situation, and market movements.


Summary


Trading System Performance and Updates

Anthony reviewed the performance of their trading system in November, stressing the importance of consistency in their statistical-based approach. Despite some initial challenges, they managed to end the month successfully and identified 30 potential trading opportunities.


Anthony also discussed design philosophies behind their trading journal, focusing on statistics (R) rather than money. He noted the ability to manually add P&L and simulate account worth, as well as adding checkbook capabilities to track all trades may be in a future update. He also discussed a spreadsheet he used to use for tracking trades as being one of the inspirations behind creating the Sabre Trading Journal, highlighting its simplicity and accessibility on Google without the need for a Microsoft Excel license.


Trade Review and Evaluation


Anthony reviewed open positions and discussed various trades. He noted that they currently have no open positions and all are in the queue. He identified a trade that no longer qualified as a Depth Charge trade and marked it as a no-fill. He also evaluated other trades, some of which were still valid while others were not. He expressed concern about the uncertainty of certain trades, particularly those with questionable levels of probability, and decided to hold onto them.


Risk Management and AI Feature Testing


Anthony discussed risk management strategies and the use of alerts in trading. He also mentioned testing a new AI feature that creates meeting summaries, which he planned to send to those who missed the live session. Anthony experienced some technical issues with his computer's performance, considering a upgrade to speed things up. He also contemplated getting a new computer, possibly a Mac mini, as an early Christmas present to improve charting performance.


Market Dynamics and Trade Strategies


Anthony engaged in a detailed discussion about market dynamics, focusing on potential trades and the management of existing ones. He identified possible opportunities in several currency pairs, including the Aussie dollar, the euro, and the GBP-CAD. He also touched upon strategies for trade management, such as adjusting targets based on market conditions and considering additional options like break-even moves or taking smaller profits. However, the meeting did not conclude with any final decisions or next steps.


Market Analysis and Trading Strategies


Anthony discussed the current market situation, mentioning potential Depth Charges and their independence from trends. He also referred to a past trade involving a stale Gauntlet, which expectedly failed. Anthony highlighted the importance of careful analysis and patience in trading, reviewing market conditions, identifying potential trades, assessing market strength, and evaluating the effectiveness of different strategies.


Towards the end, Anthony highlighted the risk associated with "flash thunders" and Depth Charges.


Plan, Break, Discuss, Personal, Money, Stable CAD


Anthony discussed their plan to wait and see what happens before proceeding to the next topic. The team was set to take a break, after which they planned to discuss the 'exotics'. He mentioned that the situation with the pound CAD was holding steady.


Trading Strategy in Longland: Two Trades, One Target


Anthony discussed a potential trading strategy in "Longland", identifying a level near a "sharky" area. He suggested taking two trades due to their proximity to one another (level-on-level), with the expectation that if one fails, the other has a higher probability of success. He outlined a target and a profit level, and reminded everyone of the importance of considering spread. Towards the end, he confirmed the entry points and stops for the trades.


Trading Scenario Analysis and Strategy


Anthony analyzed a trading scenario, identifying a Sabre level and a higher timeframe pivot. Anthony also noted the coincidence of the pivot with a higher timeframe pivot. The exit strategy targets a level above the sharks. Anthony emphasized the importance of accurate journaling of trades.


Sabre Project Alerts and Trading Scenarios


Anthony discussed his frustrations with trying to catch every alert in the early days of developing the Sabre Trading System, and how it affected his sleep if he wanted to catch EVERY trade alert. He also analyzed various trading scenarios, mentioning potential opportunities which included gauntlets, and avoiding "flash-thunders".


Market Analysis and Trade Opportunities


Anthony discussed market movements and analyzed potential trade opportunities. He identified possible trades from previous sessions that were ignored but noted they were not successful due to a lack of trend or the presence of 'sharks'. He stressed the importance of passing on levels not in between two shark levels.


Towards the end of the meeting, he confirmed that they had one trade active, the GBPCAD, and expressed hope for another entry before the day's end.


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