Plan the Trade | Page 225 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Plan the Trade / Trade the plan 74 replies

Plan the Trade and Trade the Plan: Swing Trading the Euro 5 replies

My backtest - optimisation - trade plan 0 replies

A realistic trade plan 6 replies

my trade plan for next week 47 replies

Attachments: Plan the Trade
Exit Attachments

Plan the Trade

  • #4,481
  • Feb 6, 2018 5:24am Feb 6, 2018 5:24am
Quoting jtrade
{quote} As you can see, we're trading the NQ futures contract here, which you cannot trade with a forex broker, so you need a futures account and platform... and also a larger account, as the NQ tick size (a tick is the futures term for pip, ie. the minimum move; it's 0.25 of a point in the NQ) is $5. ie. the equivalent of trading 5 minilots ($50,000 posiiton size) of a USD forex pair. One NQ contract requires $500 margin for day trading. Personally, I wouldn't recommend attempting to trade the NQ with less than a $5k account for a beginner ($2k...
It would seem the Dow (US30) has very similar characteristics (in a spot account) which would make it good for practice. I opened an amp trial account, trouble is looks like it is mt5 only which isn't a real problem. Don't know how you would deal with the range bars, but that doesn't bother me. Dax and Dow very similar. I'm in Spain so I started on Dax, and then used to cut over to Dow after lunch. Cheapest is .50p on dow per point & £1.00 on dax.

Tis true about the account size as JT says, I have done well so far but it is a bit nerve racking if you look at the $'s when in a trade!

Attached Image (click to enlarge)
Click to Enlarge Name: dowvsnq.png Size: 137 KB
'in less than half an hour he made over 100 ticks'
  • #4,482
  • Feb 6, 2018 8:25am Feb 6, 2018 8:25am
saving this one for the record. 2,211 ticks
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_2.png Size: 164 KB
  • #4,483
  • Feb 6, 2018 8:34am Feb 6, 2018 8:34am
Nearly 400 ticks movement within a couple of minutes, still crazy volumes out there today...
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
  • #4,484
  • Edited 9:37am Feb 6, 2018 8:40am | Edited 9:37am
Quoting The Cableguy
Nearly 400 ticks movement within a couple of minutes, still crazy volumes out there today...
Yep... as a general rule, I try not to get too upset missing the first 100+ swing up, it's when I get stopped out for +7 just as it takes off again that I start to feel upset (btw, my stop doesn't move to b/e+ now till +20 !)

Very hard to trade this volatility, maybe sensible to sit back and enjoy the view...

Attached Image (click to enlarge)
Click to Enlarge Name: NQ2.PNG Size: 31 KB


Edit : after the above trade, I switched to Sim mode and had 4 x 20 tick losers in a row,then several b/e+10, then a +63 and a +30... it reminded me of when I traded the NFP announcement way back when... not something for me to do with real dough on the line. Trading the M30 chart looks interesting though (whereas the 20 tick range bars were appearing every second or two !).
  • #4,485
  • Feb 6, 2018 8:40am Feb 6, 2018 8:40am
I dont think I have the account size to play today. I'd need to use half lots. My 15 tick stop just got rejected because it would have been filled the same second as my order I guess. scary times
  • #4,486
  • Feb 6, 2018 8:45am Feb 6, 2018 8:45am
wild. 35 ticks in the blink of an eye
  • #4,487
  • Feb 6, 2018 8:52am Feb 6, 2018 8:52am
Quoting jtrade
{quote} 'maybe sensible to sit back and enjoy the view...'{image}
Exactly what i am doing!) Despite everything screaming at me to simply go long, when it started banging out candles from the open, i feel it is simply gambling... or suicide... probably both)
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
  • #4,488
  • Feb 6, 2018 8:55am Feb 6, 2018 8:55am
The Vix chart makes Bitcoins recent rise look lethargic!

Attached Image (click to enlarge)
Click to Enlarge Name: Vix06-02-18.png Size: 158 KB
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
  • #4,489
  • Feb 6, 2018 9:02am Feb 6, 2018 9:02am
no trades here. risk is too large
  • #4,490
  • Feb 6, 2018 9:32am Feb 6, 2018 9:32am
crazy like. I was looking at 2 spots for a trade. First one never set up. But it doesn't matter way too fast and risky.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2-6.jpg Size: 161 KB
Click to Enlarge Name: 2-6a.jpg Size: 71 KB
  • #4,491
  • Feb 6, 2018 9:41am Feb 6, 2018 9:41am
well what a day I did put on 2 trades went down to 1 contract increased stop to 20 just till this stuff stops
Attached Image (click to enlarge)
Click to Enlarge Name: 1.png Size: 117 KB
  • #4,492
  • Feb 6, 2018 9:46am Feb 6, 2018 9:46am
Quoting Divergence
well what a day I did put on 2 trades went down to 1 contract increased stop to 20 just till this stuff stops {image}
Harold...You are ridiculous! That is awesome!!
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #4,493
  • Feb 6, 2018 9:57am Feb 6, 2018 9:57am
Quoting capstone
{quote} Harold...You are ridiculous! That is awesome!!
just a pullback trade having a 20 tick stop with 1 contract was less risk than 3 contracts with 10 if I lost 2 trades I would have stopped the volume was incredible the trades lasted minutes
  • #4,494
  • Feb 6, 2018 10:00am Feb 6, 2018 10:00am
Quoting Divergence
well what a day I did put on 2 trades went down to 1 contract increased stop to 20 just till this stuff stops {image}
Incredible!)
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
  • #4,495
  • Feb 6, 2018 10:09am Feb 6, 2018 10:09am
Quoting rudy5
wild. 35 ticks in the blink of an eye
50 at times . . . Popping all over the place, lol
  • #4,496
  • Feb 6, 2018 10:19am Feb 6, 2018 10:19am
Wonder how hilmy faired today lol
  • #4,497
  • Feb 6, 2018 10:20am Feb 6, 2018 10:20am
Quoting rudy5
Wonder how hilmy faired today lol
he stopped trading
  • #4,498
  • Feb 6, 2018 10:41am Feb 6, 2018 10:41am
What a market down 400 ticks up 400 ticks with 1 hour
  • #4,499
  • Feb 6, 2018 11:09am Feb 6, 2018 11:09am
Should have disabled my auto stop. I quickly moved it back down to give breathing space on the first trade, but wasn't quick enough on the second. It goes to +1 and a split second later, your out! Shame cos that would have been a nice one too;

123, trigger, HH, retrace and then second was a hook;

Attached Image (click to enlarge)
Click to Enlarge Name: Q06-02-18.png Size: 140 KB


533k volume!)
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
  • #4,500
  • Feb 6, 2018 11:12am Feb 6, 2018 11:12am
As it went it formed a small 2b then broke then pulled back for a huge ride
4 traders viewing now