Plan the Trade

Had order in at 47 on 2b break for pullback never got there cancel I will shut it down

Sjoe ... excellent one ... I did not see it .. only a +1 so far ...

Another nice morning Harold. Congrats! I didn't see the set up for the second trade until after it developed....ugh

How about this...I have a weekly POC on my chart from Jan 29 at 6962.50.

Ended at +36 ... have an appointment that is getting closer so decided not to trade further, can feel the stess mounting ... got a few bonus ticks today, I am still testing the best way to deal with the bonus part of the trade (when it gets to +25 the SL jumps to +20 and stays there ... then I trailing a stop after the last candle or it goes back and takes me out at +20 ... that seems to be the best so far ... would have gotten a +45 off the one trade but I was so surprised when it happened that I just took it

I think they call it hook trading earlier in the thread ... I also tried it but got burned too many times ... if you catch the breakout right, there is lots of ticks and it worked better for me with a wider SL ... to the last HH or LL worked the best .. but my account is too small for such wide stops now ... it works better in FX because you can position size your stop ... but FX is sooo frustrating as you get used to futures ... eish !

Volume this time of year is really something. Gearing up for the holidays i suppose. Lol

target reached :-)


target reached

Harold - On your first trade today I was wondering how you determined where to place your order. Did you go to the top of the wick and then count down 12 ticks and place your order there or was there another reason?

Been watching. Very nicely done.

what method are you trading Thomi?

Sorry I asked... I need to figure this out on my own... taking a break from this thread.

Yes top down 12 for entry

How high is price going today??

Search the thread for 'channels' and look at CG's posts.

Very good for inspiration. Naturally you make it your own, but excellent food for thought.

Answer: at least to the daily pivot

Thanks.

The other day you tried 4 different methods on about 7-8 trades. I used to do that. Instead. Stop jumping around. Focus on one thing. Doesn't matter what it is. The system is not what makes a successful trader. Systems are like golf clubs. In the right hands they can work magic, but a new set of clubs won't make you a better golfer. Think about what fits you as a trader. Quick scalps, longer term trading where you make 1-3 trades in a day or whatever. Once you truly know what type of trader you are, the rest will take care of itself. It takes time to figure all of this out.

When you focus on one type of trading you can better analyze your trades. What went right, what went wrong and what you need to do in order to fix it. Sometimes it is just minuscule little tweaks that make a huge difference in your results. Ask any pro level golfer and they will tell you that golf is a game of fractions of an inch or tenths of a degree difference in a club head angle. Trading is no different. Record your trading sessions. OBS studio is free and does a great job of recording your screen. You can get a cheap microphone that plugs into your USB port and record your voice as well. Then, go back and watch what you are doing with every trade. Are you moving stops too fast (my biggest fault), are your entries on point, etc. What are you thinking in the heat of the moment. Much better than a written journal in my opinion. Listen to how your voice sounds during a trade versus when you aren't in a trade. You will very quickly be able to tell when fear or anxiety is driving your trading decisions. If it is, figure out what you need to reduce those levels. I find that by talking out loud about what I am thinking as I get ready to enter a trade helps me to slow down and really think about what I am doing. It's basically a verbal checklist.

NQ, in my opinion, is the most difficult of all of the index futures. Possibly the most difficult of all of them. People, including me, are attracted to it because of the massive moves and accordingly the massive profits that are available. Days like today can be really tough. The US session started out choppy. Because of that, I opted out for the first hour or so. Waited for it to make a move, then started looking for how to either join the trend or how to jump in counter trend if possible.

NQ was down over 200 points at one point in today's session. 800+ ticks. Now it is down just 20 points as of this post. It is a beast to tame. I know it can be frustrating but don't let it get to you. She rewards those who don't give up.

Your sloping lines remind me of "Flag Trading" - a thread started by Divergence some time ago now. Seems to still get the points?

https://www.forexfactory.com/showthread.php?t=280673

Flag trading and pullback go hand in hand though it can be used as another type if you don't get filled

What a market down 800 ticks and it gets it all back wow