Plan the Trade

Quoting VEEFX

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{quote} I could not trade at all today due to some idiot on my team messing up at work! Looking at the range, she is nicely oscillating between the two major 00 lines since yesterday.... that's a 400 tick range to exploit :-

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Quoting hilmy83

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full session done. 9 trades (5w/3l/1be). It's quite difficult today as price just hugging the pivot pretty much. No breakout opportunities (my favorites). {image}

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Quoting VEEFX

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{quote} You are right... breakouts was treacherous today but they can be the quickest way to make some decent $$$ from her. When she breaks, there is no looking back. If your account can support a 10contract scale-in, try this out and see if it fits your style. Buy or sell only in the direction of breakout.... via Buy Stop or Sell Stop orders only.... with TP=say 10ticks or 20 ticks and no SL (wait for it) Since you are based in USA, use FIFO to your advantage. i,e, when in floating loss (during retrace), EVERY TP will act as your SL closing out...

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Quoting hilmy83

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{quote} agree. over the years i realize that breakout setup is about taking advantage of the quick burst moves. Usually what happens in breakouts are: 1. quick follow up move (your money maker!). No retracement in price after entry means i caught a good one, time to make the SOBs on the other side bleed! 2. retracment happens, this is tricky. this just means there are floods of orders at that level or previous move traders are taking profits. So you see a lot of "transactions" taking place here. 3. breakout dies. I usually use time limit on this....

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Quoting VEEFX

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Did anyone experience this spike at 4:05pm ET? It was 367 ticks !!! {image}

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Quoting magnumfreak

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{quote} FaceBook earnings as well as some others after the bell this evening. Last time FB reported it dropped the market like a rock.

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Quoting magnumfreak

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{quote} {quote} If you are going to trade NQ or any other index you need to know which companies on the index are reporting earnings. The amount of impact varies because they are not equally weighted in the index.

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Quoting magnumfreak

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Here is a listing of all of the companies in the nasdaq 100 in the order of heaviest weighting to lowest. Multiple companies on that list reported today. Facebook is number 5 on that list. https://www.slickcharts.com/nasdaq100 You need to be aware of when they report earnings. For most of us it's not a factor except for the ones who report before the bell.

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Quoting turnip15

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Why not keep it simple and trade as per Divergence and a few others here i.e. 123 and 2b, thrust bars etc.

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Quoting onejester

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{quote} I know not everyone agrees with this, but what is sought is written all over the charts. For me personally, the introduction of fundamentals affects my bias. And something I should be focusing on becomes diluted.

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Quoting magnumfreak

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{quote} Just my thoughts: Not everyone who reads this forum can trade the narrow window set up by Divergence.

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Quoting onejester

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{quote} I welcome your thoughts. I will freely admit that I am one of them. It is the best method I have seen for focus and simplicity, and he has it absolutely nailed. For me personally, If I could find some additional way of validating those levels I'd be more confident (if there is one?). And for sure, the market behaves differently as it progresses through the day. So does the risk of getting no follow throughs and levels blasted. Maybe it is just screen time and 17 years of experience? Not sure. All I know is I am up 2 months in a row, only...

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