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Plan the Trade

  • #8,901
  • Nov 11, 2018 1:56pm Nov 11, 2018 1:56pm
Getting thrashed in fantasy football today
  • #8,902
  • Nov 11, 2018 2:17pm Nov 11, 2018 2:17pm
Quoting Divergence
Getting thrashed in fantasy football today
As I am on the MS gulf coast, we follow the Saints. : )
  • #8,903
  • Edited Nov 12, 2018 7:48am Nov 11, 2018 2:39pm | Edited Nov 12, 2018 7:48am
Quoting capstone
{quote} Not sure how H traded it today. These are my thoughts, for what it's worth. Harold, please correct or add to, as you see fit. I didn't see the first trade as a pullback worth taking. Subjective I suppose, because it met all the definition points, including having a thrust bar. Sometimes you will have a loss. The second trade should not have been taken however. That is not subjective. You have one leg from the bottom, it pulls back (resting on top of your MA) then goes back up but fails to create a HH. Third trade was probably a valid loss...
Thanks for the feedback ... to recap what I learn from this ... the first trade did not have a good enough pullback thus did not indicate a good S&D level and was a risky trade ... trade two did not make a HH so should not have been taken ... trade three had a fast one bar pullback indicating lots of upward momentum that could and did crash through the S&D level it pulled back too ....

I did have an order at the 2B setup at 9:59 that came back at 10:05 but cancelled it when the bar at 10:03 pulled back to above the previous bar indicating a potential new 1-2-3 forming.
Never give up !!!
  • #8,904
  • Nov 12, 2018 8:57am Nov 12, 2018 8:57am
Quoting magnumfreak
{quote} A good bit of the time during normal trading hours there are several hundred contracts showing on DOM at each level. ES does about 4 times the volume of NQ. I have never done it personally but I could see 100 contracts easily getting filled with no more than a tick of slippage and most of the time zero slippage. If you get a chance pull up a DOM and watch during the normal trading hours. It's amazing how much volume it does in comparison to NQ.
Doesnt take long to see the multiples in time and sales on ES are easily higher than NQ. So even if people are tossing in contracts in multiples of 6, 8, 10 it looks like there would be no slippage
  • #8,905
  • Nov 12, 2018 9:01am Nov 12, 2018 9:01am
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  • #8,906
  • Nov 12, 2018 9:36am Nov 12, 2018 9:36am
One trade today H? With 6 contracts, you can do that and still be sitting nice.
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #8,907
  • Nov 12, 2018 9:48am Nov 12, 2018 9:48am
Quoting capstone
One trade today H? With 6 contracts, you can do that and still be sitting nice.
had to take daughter to airport 750 dollars aint bad
  • #8,908
  • Nov 12, 2018 9:55am Nov 12, 2018 9:55am
Quoting Divergence
{quote} had to take daughter to airport 750 dollars aint bad
Now that's what it's all about. $750 profit in a couple of minutes then taking care of family...I love it!
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #8,909
  • Nov 12, 2018 10:30am Nov 12, 2018 10:30am
Ended at -21 ... trade one and two was both valid pullbacks according to my opinion but i should have cancelled trade two when it tapped but did not engage ... trade three did well ... trade four was also a valid trade in my opinion .... any comments welcome.

If I was consistent today with every good setup (even if just in my opinion) I would have had a good nett profit ... but I hesitated and then missed two 2b setups.
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Never give up !!!
  • #8,910
  • Nov 12, 2018 10:39am Nov 12, 2018 10:39am
Here is the drop. NQ just provides so much range
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  • #8,911
  • Nov 12, 2018 1:52pm Nov 12, 2018 1:52pm
I ended with +21 with 8 trades.

My only +25 was entered where Harold had his target for his +25. Had 3x -12 which all should have been cancelled before entry was triggered, not focussed enough.

I also had 3x +10 and 1x BE on pullbacks to market profile lines.
  • #8,912
  • Nov 12, 2018 2:01pm Nov 12, 2018 2:01pm
Quoting Satori16
I ended with +21 with 8 trades. My only +25 was entered where Harold had his target for his +25. Had 3x -12 which all should have been cancelled before entry was triggered, not focussed enough. I also had 3x +10 and 1x BE on pullbacks to market profile lines.
Let's not overlook the cost of trading these trades using microtrends. 8 * #contracts *number of days could quickly add up :-
Staying in my lane...
  • #8,913
  • Nov 12, 2018 2:44pm Nov 12, 2018 2:44pm
Quoting VEEFX
{quote} Let's not overlook the cost of trading these trades using microtrends. 8 * #contracts *number of days could quickly add up :-
The power of just following price... I could not trade this morning so did a replay to test my "model" and seems to work pretty well. All I need is my first breakout to go into profit quickly and rapidly to lever up and increase my stop loss and scalp my trades exponentially within the first hour.
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Staying in my lane...
  • #8,914
  • Nov 12, 2018 3:04pm Nov 12, 2018 3:04pm
So VEE what are you actually doing
  • #8,915
  • Nov 12, 2018 3:26pm Nov 12, 2018 3:26pm
Quoting VEEFX
{quote} Let's not overlook the cost of trading these trades using microtrends. 8 * #contracts *number of days could quickly add up :-
I know and with commission it was still a green day, 5th green day in a row. Goal is off course to lower the number of trades, for example if I had cancelled my losing trades on time before enties were triggered it would have been a +57 day with 5 trades. Finetuning the process is most important at the moment, once it has become a profitable routine I will scale up with extra contracts.

Talking about quickly adding up your first trade went more than 600 dollar in the red before price turned and went lower, how much are you risking per trade with your system?
  • #8,916
  • Nov 12, 2018 3:43pm Nov 12, 2018 3:43pm
Quoting Divergence
So VEE what are you actually doing
I ask myself that question every day bro. What the hell am I doing in this world! What is my purpose etc etc LOL

I mentioned my brief recipe a little bit earlier. Focus is first 5 mins and first one hour like you. Focus is 30 seconds charts like yours for statistical analysis (or 500V or 500T so still undecided). Focus is making daily income like you (f*ck the growth and income in parallel.... with income growth will come automatically! I came to futures to free my mind and turn upside down towards simplistic life!) starting with one or two losses and stop trading for the day or if positive in first 10 mins or so to start slowly and then grow exponentially thru the first hour with flatten at end of first hour or when daily income target met ($2500 on a 50K or 5% daily @ 2% initial risk of 50T @ 4Contacts). Focus is making money with the least amount of risk to my own capital. Daily Reciple: Start slowly, grow slowly until a certain threshold and then use compounding to my advantage... all within the first hour and all using breakouts, wait/retrace/breakouts, wait/retrace/breakouts.... with increasing SL @ daily BE as profit grows and decreasing TP as profit grows with risk tagged only on the first breakout trade per direction of the day.... and I am seeing a definite signature in volume/price/momentum/behavior (statistically speaking) to gain an edge. I am also quite curious about the "increasing/decreasing gap between POC and VWAP" to use it as a tell-tale sign of continuation or reversal or consolidation guided by the peaks and trough valleys in market profile as stepping stones.... plus a little bit of macd/ema for momentum and visual confluence between ES and YM to do the trick... using the same principles of currency strength (in this case overall stock market sentiment/strength.

In your strategy, my only problem is limiting growth potential. I understand your psychology so use the good aspects to my advantage. My issue is with fixed SL and TP and rely on increasing position size for growth. To me, that has proven to be mentally tough in FX and it brings bitter memories of trading 10 lots on several occasions and making bank 2 times and blowing the account on the 3rd try ! Focusing just on levels and momentum at those levels for a limited time of just one hour and getting out quickly if there is hesitation (like you) is the key. I strongly believe, with narrow'd focus and energy towards just one goal via rinse and repeat, our brain will eventually turn us in to second nature on what to do and what not to do (just like you and your immense focus to trading what works for you) o please keep on posting your videos. They are extremely helpful to me and others. As I have said, it takes balls of steel to trade and show it to the world how it's done ! I am not sure if I will ever muster the courage to do it :-)
Staying in my lane...
  • #8,917
  • Nov 12, 2018 4:00pm Nov 12, 2018 4:00pm
Quoting Satori16
{quote} I know and with commission it was still a green day, 5th green day in a row. Goal is off course to lower the number of trades, for example if I had cancelled my losing trades on time before enties were triggered it would have been a +57 day with 5 trades. Finetuning the process is most important at the moment, once it has become a profitable routine I will scale up with extra contracts. Talking about quickly adding up your first trade went more than 600 dollar in the red before price turned and went lower, how much are you risking per trade...
Keep on doing what works man. It's the focus and devotion and desire to succeed that is required and not some stranger telling you what to do.

My first trade requires more room in SL@40T and TP@50T close to 1:1 RR but it varies with the size of range during first 5 mins. Again, this is still in research and development as I market replay since 1/1/18 to tweak the distances. All I can tell is "breakouts are freaking fierce with NQ". if there is no slippage and no risk of stops not being executed, it yields the best RR imo. Try this.... f*ck SL for a moment and take TP of 10-15T at every new HH or LL level reached and you will get atleast 4-5 wins in a day. There in itself lies the edge imo.

I am also ready to rule out move to BE+ but need more time to come to that conclusion. If one hour is all I got, I got to use it wisely and make every trade count. Just a different perspective so don't listen to me bro :-
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Staying in my lane...
  • #8,918
  • Nov 12, 2018 4:11pm Nov 12, 2018 4:11pm
Quoting VEEFX
{quote} I ask myself that question every day bro. What the hell am I doing in this world! What is my purpose etc etc LOL I mentioned my brief recipe a little bit earlier. Focus is first 5 mins and first one hour like you. Focus is 30 seconds charts like yours for statistical analysis (or 500V or 500T so still undecided). Focus is making daily income like you (f*ck the growth and income in parallel.... with income growth will come automatically! I came to futures to free my mind and turn upside down towards simplistic life!) starting with one or...
and if it is not clear, here's what my zoomed out chart looks like. I simply ignore/hide everything outside of the first NYSE hour. Just by looking at the gaps, it becomes clear which direction the breakouts will happen but regardless, I put my order on both sides of the 5 min range. If it whipsaws, my max loss is the 5 min range without monitoring or doing any analysis until the outcome of my first trade :-

And I forgot to mention.... I also look at ABV (delta at ask vs bid volume) at the 5.5 min candle onwards to gauge the breakout direction(s) to bring "orderflow" into play in my direction and not against.
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Staying in my lane...
  • #8,919
  • Nov 12, 2018 4:17pm Nov 12, 2018 4:17pm
Quoting VEEFX
{quote} I ask myself that question every day bro. What the hell am I doing in this world! What is my purpose etc etc LOL I mentioned my brief recipe a little bit earlier. Focus is first 5 mins and first one hour like you. Focus is 30 seconds charts like yours for statistical analysis (or 500V or 500T so still undecided). Focus is making daily income like you (f*ck the growth and income in parallel.... with income growth will come automatically! I came to futures to free my mind and turn upside down towards simplistic life!) starting with one or...
Almost like reading a how to trade book lol. What I meant by what are you doing is are you trading breakout or pullbacks it seems both cool
  • #8,920
  • Nov 12, 2018 4:18pm Nov 12, 2018 4:18pm
Strategy#2: Based on my visual testing for range bound. Try it at your own risk!

If after 5 mins during first hour, there is no breakout, calculate the range of 5 mins and that's your daily target to achieve..... as long as price remains within the 5 min range, enter trades on HH or HL or LL or LH (does not matter) with no SL and TP of 10-15 ticks scalps with flatten when price breaks out of the range to call it a day with either a loss or profitable day. Almost every time, you will come out ahead with some creativity and ingenuity :-)
Staying in my lane...
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