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Plan the Trade

  • #13,321
  • Sep 23, 2020 5:37pm Sep 23, 2020 5:37pm
Quoting magnumfreak
{quote} The bottom line is well what's the bottom line doing?

Clearly you will just not take the time to slow down and understand what I'm saying so why not just move on and leave what I say be.

I have a long history here at FF with Divergence,in this thread and others. And what I was speaking to is I see the same folks posting here today who have been posting for years and they all are still having the same issues as they did last year, and the year before, and the year before that. I was using you as a positive example of someone using the proper time frame and profit/loss mind set to perhaps wake some of my friends up fro their dream of ever making a living scalping the NQ off a 20 second chart. It won'ty happen in their life time until they first learn to trade on the 5 minute, just like Divergence learned to trade.

You are too quick to want to post dissertations on forum etiquette and too slow on the uptake.

My point was to lift folks up not put them down. The irony here is you are so hard wired for confrontation that you started after me when all my post did was note that it is fart easier to profit on the NQ when one starts thinking in terms of points rather than ticks.


Put me on ignore and move on.
  • #13,322
  • Sep 23, 2020 6:14pm Sep 23, 2020 6:14pm
'Put me on ignore and move on'.

Now there is something I can do.
'in less than half an hour he made over 100 ticks'
  • #13,323
  • Sep 23, 2020 6:20pm Sep 23, 2020 6:20pm
Quoting onejester
'Put me on ignore and move on'. Now there is something I can do.
Whatever you have to do to keep doing the same as you've been doing.
  • #13,324
  • Sep 24, 2020 2:11am Sep 24, 2020 2:11am
Quoting onejester
-60 So on the last but 1 trade I got slipped on entry & although my stop was 20 it knocked me out at -33! My entries are fine but I must cease risking stops I can't afford. I would have a really good days this week if it wasn't for that. How does the MES compare, any experience of slippage? {image}
13 ticks slippage is abnormal. You might just check the DOM from time to time on both ES and NQ to make sure conditions are looking pretty normal. Usually with multiple contracts on NQ, MNQ, ES, or MES you will not get that kind of slippage. -Jason
  • #13,325
  • Edited 8:14am Sep 24, 2020 3:15am | Edited 8:14am
Thanks Jason for the tip. Don't normally use the Dom, but I will be mindful of it in the future.
'in less than half an hour he made over 100 ticks'
  • #13,326
  • Sep 24, 2020 3:42am Sep 24, 2020 3:42am
Just while I'm here as well.

Personally, I have found that the setups work on 20 seconds, or any timeframe you can dream up.

Bigger timeframes require bigger stops, but they can be useful as a direction.

If you can trade consistently in sim, then work on your head. If you are scared, work on your head.

The proof is in the results, distraction is everywhere else.

Onwards
'in less than half an hour he made over 100 ticks'
  • #13,327
  • Sep 24, 2020 7:42am Sep 24, 2020 7:42am
Quoting onejester
Just while I'm here as well. Personally, I have found that the setups work on 20 seconds, or any timeframe you can dream up. Bigger timeframes require bigger stops, but they can be useful as a direction. If you can trade consistently in sim, then work on your head. If you are scared, work on your head. The proof is in the results, distraction is everywhere else. Onwards
definitely agree. which is why I have been on a slightly slower moving target (ES) in recent months. otherwise patience and distractions are my
main challenges(both 2 and 4 legged distractions).
regards
goma
  • #13,328
  • Edited 9:06am Sep 24, 2020 8:41am | Edited 9:06am
Quoting onejester
Bigger timeframes require bigger stops, but they can be useful as a direction.
Thank you. That is exactly the point. Mag took, and won on a great trade, but went through about 30 POINTS (for you ddaytrader :-) ) of drawdown to get there. That's nothing on a 5 minute chart, but huge on a 20 sec chart. Depending on how you define it, one is scalping and one is swinging.

Ddaytrader, I do understand what you are saying and doing, encouraging Mag. He seems to be having success on a timeframe where he wasn't having it a different timeframe before. He did what all of us need to do, which is to look at the chart in a way that his brain can successfully read its language.

You cannot however say that people will never succeed on one chart over another, because clearly, that isn't true and is just as short sighted as you are saying others are being.

I do enjoy the comradery of this thread. It is rare in this age of social media. I would love to see more charts from different people, myself included (i'm making moves and reading the language of my chart better than ever), in order to hear different accents of the same spoken word. I hope that analogy came through the way I meant it to.

Good day. Anyway, time to trade.
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #13,329
  • Sep 24, 2020 9:57am Sep 24, 2020 9:57am
with candles being huge causing stops to be huge i moved over to the emini dow target is 12 stop 11 8 contracts and doing well.
  • #13,330
  • Sep 24, 2020 10:13am Sep 24, 2020 10:13am
A sim chart on the 3 minute. I looked at 3 minutes charts some time back. Ironically, when I look at these trades on the 20 sec chart, the entries are not entirely different. I had the target for the short trade quite a bit lower, but forgot about the moving SL. It hit it at 7 instead of running. On the long, I didn't take it until it had traveled short, then buyers starting taking over, so there was very little drawdown there, 11 ticks i think. I also included the long trade on the 20 sec chart for comparison sake.
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Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #13,331
  • Sep 24, 2020 10:22am Sep 24, 2020 10:22am
I'm trading off the 1min and occasionally drop lower. Quick day today.
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  • #13,332
  • Sep 24, 2020 10:25am Sep 24, 2020 10:25am
The ES looks nice. But again stops. Margin different to NQ, I think after my -120 battering this week, I need to top the account up as it wouldn't let me enter. A comfortable +40 on those 2 breaks short. The other 2 retests, nice but not good for the nerves (yet).
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'in less than half an hour he made over 100 ticks'
  • #13,333
  • Sep 24, 2020 10:27am Sep 24, 2020 10:27am
Quoting Noeyedear
I'm trading off the 1min and occasionally drop lower. Quick day today. {image} {image}
Looks like great minds think alike on that 1st break
'in less than half an hour he made over 100 ticks'
  • #13,334
  • Sep 24, 2020 11:25am Sep 24, 2020 11:25am
all of this discussion watching higher time frames reminded me of their value. easy to get sucked into smaller and smaller charts while
missing a larger picture. with the VIX elevated, and excessively large candles on the smaller ones, took a trade off of the 2 min and managed back and forth with the 10min. pretty aggressive entry for me without confirmation, but trading around a large number (3250 on the ES) looked too good to pass up.
10T short (that's 2 1/2 points). appreciate the comments above. good luck
regards
goma
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  • #13,335
  • Sep 24, 2020 11:29am Sep 24, 2020 11:29am
Quoting Noeyedear
I'm trading off the 1min and occasionally drop lower. Quick day today. {image} {image}
That was a perfect morning star pattern!
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #13,336
  • Sep 25, 2020 2:28am Sep 25, 2020 2:28am
Quoting goma
all of this discussion watching higher time frames reminded me of their value. easy to get sucked into smaller and smaller charts while missing a larger picture. . . . . appreciate the comments above. good luck regards goma {image}{image}
I find knowing what a larger timeframe or "bigger picture" looks like helps my overall strategy also -Jason
  • #13,337
  • Sep 25, 2020 8:05am Sep 25, 2020 8:05am
I can relate to what ddaytrader is saying. I don’t think he was trying to put anyone down. I started of trading 20 sec charts on NQ doing 123 and 2bs. It just wasn’t working for me. I was getting into too many trades, seeing too many entries, getting stopped out, getting broke even too many times. It wasn’t my cup of tea. I now trade MNQ, set ups on 5min chart entry on 1min and doing far better. Do what works for you, but you just need to move on if you are seeing no result doing the same thing for so long. And if money and stops are a problem you should trade Micros so you can afford a wider stop, you will struggle to succeed trading in fear.
  • #13,338
  • Sep 25, 2020 8:06am Sep 25, 2020 8:06am
Money management and risk management are of paramount importance. But the emphasis placed on "small candles" and minimizing risk based up micro time frames ignore entirly the role probability plays in a positive expectancy game such as trading.

Anyone here honestly hitting full profit on 60% or more of their trades? If you are trading 1:1 profit to loss factor you had better be.

Anyone here not finding himself having to "top up" his trading account because his losses have consumed his margin to the point that he no longer has enough in the account to trade?

Anyone here realize that that is the very definition of a "blown" account? An account where the losses are such that one no longer has the minimum margin required to trade his chosen instrument is blown.

The methodology presented here is sound. It application is likely fitting to one person only.

You all say you like this thread because everyone encourages everyone and free discussion "blah blah blah" but look how quickly posters are to block/ignore anyone who questions the orthodoxy.

But hey, what's the old FF saying? "If it's broke, why fix it?"

Something like that.
  • #13,339
  • Sep 25, 2020 8:37am Sep 25, 2020 8:37am
ddaytrader, I don't think anyone is questioning what you are saying. In fact, before you came back around, many of us were looking at higher timeframes, as evidenced by posts that happened while you were not here and participating.

I can't speak for others, but for myself, it was that you came back and in your second post, called us "small thinkers". I'm sure you have to a ton to offer us, but a more gracious tone would probably help you to get your message across. Tuk's post right before yours is a great example to follow in that. Just my opinion

I welcome you to stay around. That would be great. I even have screen shots of things you posted when you were here before because i found them to be very helpful.
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #13,340
  • Edited 9:28am Sep 25, 2020 8:58am | Edited 9:28am
Here is something I have been seeing lately. If you can get past the use of a lagging indicator, this plays out very consistently. Like Tuk, I have had many losses with the 123 and 2b that Harold uses on a naked chart. I prefer to see the wicks and I like the MA's and the slow stoch. I use them all at various times and for various reasons.

I have been combing through Stephen Bigalow's stuff and find that I see the chart best in the way he seems to see it. That is what lead me to the stoch. After watching my own charts for a couple of weeks, I noticed this pattern play out over and over. Take if it helps.

And yes....this is a 20 sec chart...not sure if this is even needed on a higher timeframe.
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Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
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