Plan the Trade

Will sell 8475

Just missed cancel

Missed a load today.

4 trades and up 27, its good . ..

Not good trading by me today missed a few trades got only 22

Wow, run all the way back to the nyse open prices . . .

Yup, support was at yesterday's POC. The MP is strong information! The long triggered with a 2B PB down there at 71.25. Wish I had the stones to have taken it!

Hello everyone,

Divergence and The cableguy :
I tried the 123 pullback, can you tell me if the entry is correct?
I am on ut 1 min on Eur / usd demo, must it necessarily be in tick?
Why are you trading the Emini nasdaq instead of the forex?

I really like your approach and style of trade

Yep, spot on.

In fact there is actually a 123 that triggers earlier;



It helps to practice drawing Supply or Demand areas on a chart as PA prints. They have two styles in general.

1st) the battleground (fight between bulls and bears), where several small candles print and show consolidation and
2nd) the spike (peak or trough).

As for using 'Ticks' (volume), it gives a more accurate picture of how and when volume enters the market. If volume has dried up, it may take 20 minutes (20 x 1min candles) for 512 contracts to be bought or sold, whereas, this will obviously be one single candle on 512 tick.

Regarding trading the Nasdaq and why? Well... it is an animal most of the time and moves much more than any Forex pair, especially after US open.

Boredom is a factor in a trader's psyche. It takes 20mins in your chart to show a 7 pip profit after spread. The Nas will do that in seconds.

Not always, of course... sometimes you can find enough movement (liquidity).

It's all about matching the timescale to the PA that is printing. If you notice my larger blue rectangle in the above chart. We can expect a reaction there as it is clearly the last place that PA broke to the upside (Demand).

and the update;



now we need to adjust the scale and look to the last place that we saw Supply and again, expect a reversal there;

Thank you for your answers the cableguy
I will continue to learn

have a good day

I had almost forgotten how much the NQ moves! When she is in a hurry, you better not be waiting)



Ignore the totals, i just had a quick play around, but i have to say that the Hook is proving deadly. I think that is not the case later on when there is less volume.

Lots of ticks worth of movement again on nq. I am enjoying it. Getting use to Sierra Chart too. You guys were right, its easy on cpu.

I seriously miss Sierra charts everytime that i start using my old SB platforms. The whole combination of the speed that the NQ moves and the ease with dragging and dropping your stoploss is effortless. I had loads of +1's earlier, which i did not add to the chart, but for sure with the restrictions that City Index and IG Index have it would have resulted in losses.

One allows you to move stop within a pip/tick, but you can not drag and drop your entry or your stop, without confirming or manually filling in the entry. The other one will, but has a minimum stoploss distance of usually 5 pips... neither of which are suitable for this style of play.

Yeah, i traded with a forex company previously that had 5pip rules like that on dax. I know what you mean.

Agreed about the hooks. Especially when nq is just creating these kind of "stairs" like it has been lately . . .

Didn't know you traded the DAX, 'ras. My two trades that morning - I only target net 20 / day (basis 0.5 = 1 tick) - so I stopped after 12 minutes.

As you can see, I always leave lots on the table for the good traders.



Btw, my 30 second chart (thanks, CG ) is for monitoring trade executions only.

When market is moving in 1 direction you can hook the hell out of them

Looks like nq had about 163 tick range in that hour . . . Plenty of opportunities for sure.

JT my old friend where you have yellow arrow was a nice pullback to short also

Hello, dear H - I finally accepted I'm a lousy trader, but in so doing discovered that even a lousy trader like me can make 20 a day

"You don't have to make a lot, to make a lot..."