NQ Day Trading

The MB challenge EJ long from friday closed this morning at target (+50 points, +244 cumm). In an EU short now which is clinging on. Just one NQ short scalp earlier. More movement likely tomorrow. Good luck.

MB Challenge hitting a run of losses again (-43, -27.5, -40 points), taking the net total to +133.5 points. Need to rethink the strategy to get the win rate to at least 50%. No futs trades since Monday this week.

I feel your pain. not a great week for me either, although most of it was due to outside influences (adult children). had a small 4T win monday
after nearly dozing off in front of the screen, nothing tuesday and a minus 24T and a break even yesterday. distracted trading is nearly
as perilous as distracted driving.
as a "discretionary" trader, I would have a hard time with rules set forth you've noted. but that's me. also, it is a pretty challenging market
right now compared to earlier in the year. if nothing blows up too badly out there, things should settle down to more normal madness for
the remainder of the calendar year.
at any rate my trades below. good luck
regards
goma

came back for a look after running around/appts. price action slow this time of day, lowered to 8T range bars w/o any MA's. just the line
graph overlay to help my tired eyesight. even in this slow time, quite a few spike orders moving things up/down a point or two.
managed to grab back yesterdays loss, 24T on a short of 2 lots. no real confidence on direction, but in more normal market conditions it
looks to head lower. good luck
regards
goma

had to take another look this morning to see if there was any predictable life to price action. no trades last week. lots of look ins but everything
was flat, at least the times I had available. finally recovered from an over abundance of turkey induced tryptophan. at any rate, thought I'd try
another twist to a slow market. similar to one of the other threads. put up a keltner channel to see if micro movements could be taken advantage
of for a few ticks here and there. don't have the feel for it yet, especially since my eyes are looking for structure etc. but could be promising
for a while until more liquidity shows up. plus my wife is looking for lightning deals on cyber monday so I'm hiding in my office.
hope all is well
regards
goma

I was wondering if anyone else here at FF was trading NQ on the regular. I had been trading 6B, 6E, MES/ES but the intraday volatility has really dried up on those instruments. I switched to MNQ last week. So far, so good. I like it for its volatility!

I use a fixed take profit of +40 ticks(+10 points) most of the time. At the open of the stock exchange, I'll sometimes double that TP to +80 ticks (+20 points).

hey vidvad,
"I was wondering if anyone else here at FF was trading NQ on the regular. I had been trading 6B, 6E, MES/ES but the intraday volatility has really dried up on those instruments. I switched to MNQ last week. So far, so good. I like it for its volatility!"
I don't trade it, although I keep an eye on it while trading due to the overlap of major tech firms with the es/mes. when volatility picks up the nq
tends to "over compensate" its' moves in relation to the other indicies. mosh pit vs. roller derby, pick your poison. coincidentally, if this makes any
difference, the nq's options are priced every 10pts where the es' are every 5pts. since 80-90% of volume are algo's/pgm trades, there seems to be attractions
to key levels. they do overshoot but that seems to be a function of their pgms, covering commissions, hedges etc. the founder of this thread, noeyedear
trades the nq quite a bit and does well.
regards
goma

Hi vidvad, yes my focus is on NQ mainly. I'm self taught with very limited fundamentals knowledge (atm). I'm in awe of those here with the all round knowledge/perspectives. Would be great to see your setups here, if you are open to that; no worries if not of course

an early pre market trade and one late yesterday. had a plus 12T yesterday before the ny close, took too long so manually closed it.
this morning tried a "news" trade, using a trailing stop for plus 8T short. difficult entry as I'm not used to timing these types of trades.
think I'll wait for the next one. have to run out for a bit so we'll see how things develop. good luck
regards
goma

ok, a couple more when I got back just after 8am. cujo needed her walk. haven't check news etc. but did someone say something? looks like
price fell off a cliff when it got close to the 4600 level. waited for some hesitation entries and grabbed 2 more plus 8T, one short and another long.
didn't we used to call them hoagies? the keltner bands are becoming more helpful, just have to be quick and confident (telling myself that) of direction.
kept the trailing stop because the volatility picked up a bit.
regards
goma

Hi, this is typical of the trades i try to get into. The daily chart on the left for reference..yesterday's candle prompting a short bias with trendline and support level marked up. Took a short pre-open off the 1min chart on the right, which followed through to the daily chart trendline target..could have held there for the daily support level target but decided to take it off; only had 1 contract on. The emas on the 1min are 25 & 100 but i find it doesn't matter much what i use on that TF - Good luck if you are trading this week.

I haven't traded the MB Challenge for a while, with more focus I could probably make it work but it's not something that fits atm. It would be great if their platform had charting from which to trade, i find it too hit and miss and clumsy to have to find a data feed and charting that most closely matches their algo's liquidity provider. One to watch though, as their prop model is great (imho) and the discord support/resources are top notch.

a new week before rollover to next quarters futures. manages a plus 10T long on a familiar chart setting, only range bars and a line chart overlay.
still a bit discordant in this market with erratic conditions elevating risk. will probably look for small trades this week with all the external influences
still building. good luck
regards
goma

NQ - a few shorts down to the daily 21EMA. That will do for today. Good luck this week.

got back late, only a little time to look in. saw the price run from 4578 to 85. previously a tough level to get past 90 on longer term charts.
took the hesitation for plus 16T short on the retrace. looked like choppy PA earlier. tsy bond yields dropped with corresponding rise in
the 10ynote. weird though, very little volume for this even though rollover doesn't really begin until next week. mega techs and their
CTA enablers/algos always ready to take advantage and push the nq/es higher on lower rates. still wouldn't be surprised for another selloff
later today or early tmro. take the money and run.
regards
goma

Nothing set up on NQ for me today.

NQ - tricky day but ok in the end.

nice work. like the clean chart, really focuses one on price action and levels to watch for. no trades for me today with too much running around etc.
regards
goma

NQ - setup idea off the 5min.
1/. RSI divergence.
2/. Break of support/resistance (in this example from the London session, a break of the Asian resistance).
3/. Pull back into the leg that formed the RSI divergence or an imbalance, an imbalance is preferable.
4/. Setup candle - i like the reversal type shown under the ellipse.

up early, did a little artwork on your chart. my understanding on using RSI is once things get to overbought (plus 70) or oversold (30)
look for divergence in either price or the RSI indicator. I may be off since it has been some time since I looked at this one. anyrate,
something like the blue lines I drew? pardon the freehand and lack of caffine. barring some jolting news, this could be a good long
setup on a retrace or a nice short if bad news looks to drive it down. ok I'll go back in the kitchen for more coffee, check in later.
regards
goma