Plan the Trade

took a look at the end of the NY lunch hour to see what our algo friends had in store for the afternoon. 2B setup worked for me for plus 7T.
time to leave it alone. Satori, I like your levels at the 8ths, old school.
good luck
regards
goma

with the ATR hovering between 8-9 on the 20sec, I don't feel like being a cowboy this morning. plus it is a wednesday. will check
back in an hour or so to see if anything has settled down. trade safe.
good luck
regards
goma

short day for me. appointments all day. saw one setup after the open for plus 7. buyers still seem to want more. but given the past couple of days volatility,
just waiting for the next shoe to drop so I'll take my plus 7.
good luck
regards
goma

Yesterday was crap - 28, recovered with +30 today. Hate standing still, looking inwardly I just need to stay away from these big bars.

early appts missed the morning session. quite a week though. volatility definitely up a notch or two. picking entry's is like hitting big league
pitching vs double AA ball. see you next week.
good luck,
regards
goma

Over the past couple of hours, I did some back testing in sim. And had I traded 123's & 2b's for the past 5 days, it would have been thus: - 17,18,27,3 (down from 12) -20. In nearly all cases the entries were taken using half the bar. I went over the hour (by max 30 mins) on a couple of the days.

+ 29 (+ 5 pre market)

more morning appts. hopefully the last for a couple of weeks. took a look in about 1230 ny time for an hour, pulled one entry (looked like it would run my stop)
but in hindsight, would have been a winner. after that, never came back enough for a trade. starting later in the session I don't get the same feel as at
the open. nice trading J.
good luck
regards
goma

very lucky on my part not getting stopped on the price spike. plus 8 while it was grappling around the 7560 level, then looked like world peace broke out watching it plus 200 points. I will not chase those, can get whipped out just as easily on "revised" news. I'll wait for it to settle before getting back on it.
good luck
regards
goma

Nice day + 32 (+ 2 pre market), 3 trades. Glad I'm out - scary!

settled down a bit, plus 6. still looks coiled and ready to move. done for the day.
good luck
regards
goma

+29 pre market. A few too many trades for me today and on the last one I should have let it run. But that will come with time as I build my nerve.

Good luck for the rest of the day guys...

no trades for me today. maybe atr will settle down in a couple when the algo's go to lunch, but above 5 and 10plus spikes, not prudent for me.
just reviewing last months and this months trades, july I made 32 trades averaging 2.56T per trade. (I missed 8 trading days with vacation and US 4th july)
pretty crappy, although my excuse was it was my first full month live trading the NQ (is anyone buyng it?) this month so far 9 trades averaging 5.89T per trade
so I think my patience is a bit better, but less average number of trades. commissions, exchange fees, etc. etc. eat $4.98 of every $5.00 T (round trip)
so I'm trying to be conscious of just feeding the broker with 1T profits. I think getting it up to 9T-11T or above, on a consistent basis (allowing for losses) should be
a good target for this type of trading. be back later
good luck
regards
goma

took an early look at the markets this morning, (actually it was the dogs fault the had to go out). volatility still reigns over nite. drew out
a graph I think would follow Victor Sperandeo method of 1-2-3-2B. still to wide an atr for me to trade stops would have to be 20-30T to get 10-12?
i'll wait. anyways trade safe lots seem to be up in the air as usual.
good luck
regards
goma

+ 22 pre market. Seems so be kinder to me before it all kicks off (but hey, we all know that can change...). had a couple of 'delayed/slippage' fills today, I suppose that is a characteristic of trading pre market. I may go in again after I get back later in the afternoon.

-15 today, but I'll take that given the week I had +118 including todays loss. Recovered and then some from my crap start to the month. Next week I'm going back to the NQ (not MNQ) to see how that works out. Have a good weekend.

NQ +21

all ready to start the new week just before the NY open and get a call the wife forgot her gas card and is at the gas station. back finally and
took one trade off of a 1-2-3 after a 2B thrust down. plus 8 one trade. gonna call it a morning.
good luck
regards
goma

just thought I would add a little graph from april to present. this area 7725-7750ish seems like a turn around range or thrust higher.
I know trading on the 20sec/sub minute charts seems a bit out of place, but just thinking of something Cableguy mad mentioned
repeatedly about trading towards (or away from once reached) apparent supply/demand zones. Just a thought. Hope he is recovering and doing well.
good luck,
regards
goma

+55 looks good, but earlier I was down -34 trading pre market so a net today of 21. I have no idea where my earlier entries went but I restarted for the US session, and poof! So what did I learn? My trading doesn't seem to work with low ATR's (surprise). It was foolish of me (but I am a jester after all...), but I wanted to see what the result would be like. I broke a rule though (-24 benchmark to stop), I wouldn't normally carry on after -34, but when the market opened I thought there would be some opportunities and there were. In practice, I have recovered so many times (I ended up +8 on Friday) so I'm kind of getting there finally with the confidence - until I get punched in the face of course...

The important thing for me is that I felt confident (in a humble way) to come back once the market had opened. I really hope I can keep this up until the end of this month. If so I'm gonna bite the bullet and go live.