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Plan the Trade

  • #9,621
  • Nov 30, 2018 4:29pm Nov 30, 2018 4:29pm
Quoting LookinGood
{quote} No you misunderstand. When i say you'd emotion yourself out of a method i mean any method given to you. ALL methods. EVERYTHING. "..taking 10-15 BE trades and feel good about themselves.." The amount of any type of trade has no reflection on you as a person. You're ability to stick to a plan has a reflection on how well you've prepared. That's all. "..I lose an hour of "productivity, Market has to compensate me for the sacrifice I just made.." The market owes nothing. Saying it does is just not taking responsibility for your own actions....
Good insight. Please continue to post here and don't let my experience chase anyone away from this thread.
Staying in my lane...
  • #9,622
  • Dec 1, 2018 2:56am Dec 1, 2018 2:56am
Don't forget 'phases/cycles'. VEE, you've fairly well only been on this thread since we topped out and started a bear phase... these are much more volatile with higher volumes. Indeed the rate at which we are recovering ground recently probably indicates the lows are not in yet.

So, what i am saying is this... a SL strategy of +6 auto +2 might well get spiked out in current climate, but work much better when it's calmer... or vica versa etc.

What works well one day, wont the next. It's a case of put up with something that works enough times to fill the coffers and learn to handle the emotions of being stopped out to the tick, only to see it shoot 30 ticks in the original trade direction without looking back. It's what the market does. It's what the market always does.

The only thing that matters is ending up the session in the plus and as for the 'why take 25 ticks when there is 200 available', How do you know in advance that 200 are available? what if it gets to +100, then reverses hard and plummets etc. What's your SL strategy then? As Harold says, by grabbing those 25 ticks relentlessly, you can merely increase your tick size to match your desire/greed!)

'A dripping tap fills a bucket'
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
  • #9,623
  • Dec 1, 2018 6:00am Dec 1, 2018 6:00am
Quoting The Cableguy
Don't forget 'phases/cycles'. VEE, you've fairly well only been on this thread since we topped out and started a bear phase... these are much more volatile with higher volumes. Indeed the rate at which we are recovering ground recently probably indicates the lows are not in yet. So, what i am saying is this... a SL strategy of +6 auto +2 might well get spiked out in current climate, but work much better when it's calmer... or vica versa etc. What works well one day, wont the next. It's a case of put up with something that works enough times to fill...
Thanks CG. It's 4am and I have yet to go to sleep so briefly, agree on the ever-changing market condition coupled with lack of extended observation resulting in sounding noob (which I most definitely am in Futures)... hopefully good news is in order soon and I just completed my first algo automation in Sierra and to my surprise, it runs nicely in market replay (something which is so powerful and necessary to have). The micro moves are also quite nice on a 1-second chart using a simple EMA cross or bounce with quick move to BE and trail SL via leading or lagging EMA. With this in place, I can backtest several of my key breakout/trend following strategies. Either I will move soon to the TT platform and continue with my primary ladder/scalp aggressive strategy or just stay with Sierra and find something else. But regardless, from what I can tell, net 25T on NQ every day is very much a possibility regardless of whether she trends or ranges or volatility dries down as I don't like to spend time on strategies that are market condition dependent. Harold is really a smart dude to be trading just the first hour and on 30-second chart. Combined that with his mental state of not overtrading after daily goals met, pullback strategy really becomes a market-agnostic one to generate daily income (even though I think he can make 10 times more!)
Staying in my lane...
  • #9,624
  • Dec 1, 2018 7:04am Dec 1, 2018 7:04am
VEE 5000+ week is just fine it more than I know what to do with
  • #9,625
  • Dec 1, 2018 8:50am Dec 1, 2018 8:50am
My trading style is so much different from the majority of people on this thread that I am starting to believe that posting here is causing more confusion than benefit. So, rather than perpetuate the confusion I will either start my own thread or just not post. Nothing I will say here will change the majority of peoples minds with regards to their trading style.

My parting thoughts:

Quoting The Cableguy
The only thing that matters is ending up the session in the plus and as for the 'why take 25 ticks when there is 200 available', How do you know in advance that 200 are available? what if it gets to +100, then reverses hard and plummets etc. What's your SL strategy then? As Harold says, by grabbing those 25 ticks relentlessly, you can merely increase your tick size to match your desire/greed!) 'A dripping tap fills a bucket'
Fact is, you don't know there are 200 ticks available. Fact is you don't know there are 25 ticks available. You can what if anything to death if you try hard enough. You are definitely right in that you can simply increase the contract size to increase your profits. That is, until you get to the larger contract sizes. NQ doesn't have anywhere near the depth of ES when it comes to larger orders. You know what you know based on your experience. Put a "Wet Paint" sign on a wall and watch how many people have to touch the wall to find out if it is really wet. You know it is wet because you painted the wall.

It is very easy to fall into the trap of "my way is the best way" when dealing with trading. Once consistently profitable, it becomes difficult to see anything else other than what you know to be true. We very quickly try to influence new traders into our style of trading because we believe that it will help them. In fact, it hurts their development. What if V decided to just trade like Divergence but it was outside of their personality? Eventually, their mind will stray from the system and start looking at other things that may or may not work. This leads to a death spiral for new traders. A few losing trades and doubt begins to creep in. That is followed by hesitation and frustration at missing trades. The best service that anyone who is consistently profitable can do for other traders is to encourage their education and growth as a trader not to only trade one way. People try to help with the best of intentions but in the end it always has to be the individual trader who finds their own path. Perhaps V will find a great way to only take 1 trade a day and make 200 ticks. Who knows? You will never find out if they only trade one way.

I still have big goals to achieve. Time to go get them.

So, that's my final rant:

Attached Image
  • #9,626
  • Dec 1, 2018 9:02am Dec 1, 2018 9:02am
good post mag.only thing is what's the purpose of posting anywhere? what I developed was a dash of joe Ross 123s a dash of TRADER vics 2b but with my own twist and a dash of s and d with my own twist to arrive with this dish. your right everyone's got to develop a strategy that's consistent. maybe a dash of what I do or you do. no need to run post your strat
  • #9,627
  • Dec 1, 2018 9:14am Dec 1, 2018 9:14am
Quoting magnumfreak
My trading style is so much different from the majority of people on this thread... {image}
I don't have a problem with anything that you've written, but...

This is not a general discussion thread. The idea that has been developed is to trade the retests of obvious Support or Demand levels, identified by thrust and confirmed trend by using simple market structure (aka 123's). When you start looking at a target of 200 ticks, the time/tick or volume scale has to change accordingly.

Sure you can target 200 ticks, but you can't seriously be saying that you aim to do this with a 10 tick (or thereabout) SL?

Looking left to see the evidence, the plan is to grab some from these retests. We are working on the idea that there are orders left in the market at that level. Simplicity in itself.

As i say, i have no problem with anyone posting their trading strategies and results, but bear in mind, i will always be posting my method, (which happens to be very similar to Harold's). The difference between us is that he has been handling sizeable live trades with Futures for a good while, whereas, it is still a step up for me, from moving away from Spreadbets.

I still haven't obtained that art of trading such size trades freely and without too much emotion controlling the outcome... but it's merely a process. If i can do it more often than not in Demo, it will become a habit soon enough and that is my goal. Later i will do what Harold has been doing and moving to 2 contracts.. once i can handle that without having a heart attack, it will be time for 4 contracts etc...
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
  • #9,628
  • Dec 1, 2018 9:26am Dec 1, 2018 9:26am
i always thought this was the nq futures thread in general. doesn't matter how you trade. just post legit cme NQ chart and post your analysis. we all can benefit from it regardless if you trade s/d, momentum moving averages, tarot cards, blindly with no charts, coin flip, or just trading demo, but just stick to NQ cme chart when you post.

Quoting Divergence
good post mag.only thing is what's the purpose of posting anywhere? what I developed was a dash of joe Ross 123s a dash of TRADER vics 2b but with my own twist and a dash of s and d with my own twist to arrive with this dish. your right everyone's got to develop a strategy that's consistent. maybe a dash of what I do or you do. no need to run post your strat
my philosophy is, somebody posted something for us to benefit before. so keep the karma going and post it for the future "divergence" or "magnumfrek", etc etc...
  • #9,629
  • Dec 1, 2018 11:35pm Dec 1, 2018 11:35pm
Quoting The Cableguy
{quote} I don't have a problem with anything that you've written, but... This is not a general discussion thread. The idea that has been developed is to trade the retests of obvious Support or Demand levels, identified by thrust and confirmed trend by using simple market structure (aka 123's). When you start looking at a target of 200 ticks, the time/tick or volume scale has to change accordingly. Sure you can target 200 ticks, but you can't seriously be saying that you aim to do this with a 10 tick (or thereabout) SL? Looking left to see the evidence,...
Thanks CG. I think since my participation, this thread has gone south with my noob and contradictory comments. The collaborative theme helps towards a common goal of squeezing ticks from NQ. Everyone contributes and I personally am learning a lot about futures. At the end, decision has to be yours...this is your thread/journal and what you prefer is the only thing matters. I will try to restrict my QnA also to keep us focused on daily grind of trading NQ. Perhaps defining what rules to follow in your first post would help us get aligned or move on. I am here as long as discussion remains interactive and focused on "futures trading".
Staying in my lane...
  • #9,630
  • Dec 2, 2018 8:51am Dec 2, 2018 8:51am
Quoting onejester
Does anyone here take cocaine?
Might have to one day - this thread is becoming a "kin" day nursery !
every Saint has a past. Every Sinner has a Future
  • #9,631
  • Edited 9:33am Dec 2, 2018 9:09am | Edited 9:33am
Quoting turnip15
{quote} Might have to one day - this thread is becoming a "kin" day nursery !
Look, there's nothing wrong with ideas...
Inserted Video
'in less than half an hour he made over 100 ticks'
  • #9,632
  • Dec 2, 2018 9:56am Dec 2, 2018 9:56am
Quoting onejester
{quote} Look, there's nothing wrong with ideas... https://www.youtube.com/watch?v=1GwQUU_fmpg
Found Ricky Gervaise comedy clip via your link:
The bit at the end where he meets the Devil ( 7:30 - wish )
watch
every Saint has a past. Every Sinner has a Future
  • #9,633
  • Dec 2, 2018 5:11pm Dec 2, 2018 5:11pm
+300 tick gap..

oh boy..it's gonan be a crazy asian session tonite!
  • #9,634
  • Dec 2, 2018 7:58pm Dec 2, 2018 7:58pm
Quoting hilmy83
+300 tick gap.. oh boy..it's gonan be a crazy asian session tonite!
Make it count !!!!

https://www.marketwatch.com/story/us...res-2018-12-01
Staying in my lane...
  • #9,635
  • Dec 3, 2018 8:50am Dec 3, 2018 8:50am
calm today.....news in 10 mins.
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Staying in my lane...
  • #9,636
  • Dec 3, 2018 8:52am Dec 3, 2018 8:52am
Quoting VEEFX
calm today.....news in 10 mins. {image}
this ain't forex
  • #9,637
  • Dec 3, 2018 9:36am Dec 3, 2018 9:36am
well a couple of +2s and 1 25 tick win and a 123 break win for 80 with 1 contract
  • #9,638
  • Dec 3, 2018 9:50am Dec 3, 2018 9:50am
Quoting Divergence
well a couple of +2s and 1 25 tick win and a 123 break win for 80 with 1 contract
Where did you take the 123 break?

I had 4 BE's, one loss and 2 wins, ended with +46. One win was for +40 at a what I call a vwap break, price showed reaction at vwap with slight pullback and then continues the move. Entry like a 123 break. Seems to work quite often when price has room to move.
  • #9,639
  • Dec 3, 2018 9:51am Dec 3, 2018 9:51am
Quoting Divergence
well a couple of +2s and 1 25 tick win and a 123 break win for 80 with 1 contract
Not quite the 10 and 50 of old Harold but I use levels and sort of 10 and 50 with Ichi on 1 Minute charts. I will only post this one cos I consider this thread to be 123 and 2B which I am still studying
Done for the day now ( This is when price moves many pips now I am not trading)
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every Saint has a past. Every Sinner has a Future
  • #9,640
  • Dec 3, 2018 10:01am Dec 3, 2018 10:01am
Quoting Satori16
{quote} Where did you take the 123 break? I had 4 BE's, one loss and 2 wins, ended with +46. One win was for +40 at a what I call a vwap break, price showed reaction at vwap with slight pullback and then continues the move. Entry like a 123 break. Seems to work quite often when price has room to move.
at 42.25
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