Nice trade! - how do you typically manage your risk, if you don't mind my asking?
thanks. I'll try to coherently relay my approach on this (early coffee
). since I was looking for a possible longer/larger move I took the following
parameters. larger range since late last thurs is roughly 5775-80 down to 5735. treating the approach as a larger overall scalp. 5750 seemed
to be roughly the key attraction level where much above is leaning towards distribution and much below accumulation. with my 20-20 hindsight
I could have put in a sell order initially closer to the 5770 level and made a few more ticks, but being impatient and second guessing just told
me to get in above 5760 (5761 to be precise). only risked 1 micro lot so if it took off towards 75-80 level I'd be stopped. price didn't quite do
that so hung in there. I use the data box as a kind of quick and dirty method of determining accumulation vs distribution. if I see asks declining
on the way up, especially where it looks to be the top of a range, sellers have come close to distributing especially if price starts flattening a bit. I
ignore the last spike up and it usually corrects from there. the 8ema is just kind of a overall guide, whereas I'll use the line chart overlay indicating the
close (red line) as more of a trigger for entries and exits. this is where I have to maintain personal discipline to keep looking at overall market structure
and ignore noise. once I see the red line (close) continue moving below the 8ema I do my best to sit on my hands and set a target. in yesterdays'
case it was around the 5745 level. could have gotten more but overall happy with the result. end of day price range, and this morning is around the
5750 level, again similar range as precious 3 days. same approach take if I thought market conditions and overall structure looked to move up
instead of down. I usually put horizontal green lines at he top and bottom of my charts for the range. just eyeballed it instead, sorry for the omission.
I probably would tweek things a bit the next time I approach this, but overall thats' the just. now for my short term scalps, that is another chapter
.
good luck if you're in today.
regards
goma
). since I was looking for a possible longer/larger move I took the followingparameters. larger range since late last thurs is roughly 5775-80 down to 5735. treating the approach as a larger overall scalp. 5750 seemed
to be roughly the key attraction level where much above is leaning towards distribution and much below accumulation. with my 20-20 hindsight
I could have put in a sell order initially closer to the 5770 level and made a few more ticks, but being impatient and second guessing just told
me to get in above 5760 (5761 to be precise). only risked 1 micro lot so if it took off towards 75-80 level I'd be stopped. price didn't quite do
that so hung in there. I use the data box as a kind of quick and dirty method of determining accumulation vs distribution. if I see asks declining
on the way up, especially where it looks to be the top of a range, sellers have come close to distributing especially if price starts flattening a bit. I
ignore the last spike up and it usually corrects from there. the 8ema is just kind of a overall guide, whereas I'll use the line chart overlay indicating the
close (red line) as more of a trigger for entries and exits. this is where I have to maintain personal discipline to keep looking at overall market structure
and ignore noise. once I see the red line (close) continue moving below the 8ema I do my best to sit on my hands and set a target. in yesterdays'
case it was around the 5745 level. could have gotten more but overall happy with the result. end of day price range, and this morning is around the
5750 level, again similar range as precious 3 days. same approach take if I thought market conditions and overall structure looked to move up
instead of down. I usually put horizontal green lines at he top and bottom of my charts for the range. just eyeballed it instead, sorry for the omission.
I probably would tweek things a bit the next time I approach this, but overall thats' the just. now for my short term scalps, that is another chapter
.good luck if you're in today.
regards
goma
- #1,147
- Nov 6, 2024 10:04am Nov 6, 2024 10:04am
- | Joined Jul 2010 | Status: Trader | 1,319 Posts | Online Now
MNQ - got in today off the sentimentA reasonably straight forward entry back into the prevailing trend up to the session high/RN. (348T, 5 micros). Good luck! {image}
Goma, I've have stayed away as well. Let the market settle a bit, although it doesn't seem too bad. I remember when Trump beat Clinton, the market went nuts. I was fearful of that, but I guess the market wasn't as surprised as I thought it would be.
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
ok, I thought I wouldn't trade today, but had to check in. market has been creeping up steadily on low vol. heading towards the whole #/6k.
decided to take a small long, 1 lot. managed a plus 16T. we might get some small rips and dips between now and the fed, but have a list
of things I've been ignoring.
the entry I decided on for the long was during the spike down bar which was weak ask/bid vol so looked to be just a minor retrace to move
higher. closing line stayed above the 8 ema. good luck if you venture in.
regards,
goma 
decided to take a small long, 1 lot. managed a plus 16T. we might get some small rips and dips between now and the fed, but have a list
of things I've been ignoring.
the entry I decided on for the long was during the spike down bar which was weak ask/bid vol so looked to be just a minor retrace to move
higher. closing line stayed above the 8 ema. good luck if you venture in.
regards,
goma
day off yesterday. looks like you got the main move of the morning. I don't like trading on holidays esp. with low vol/participation. my usual spidey sense
seems to glitch a bit. got to watch earlier than usual, very defined range since yesterday so felt confident in a short near the top for a retrace.
bids were higher than asks as price move up, so looked for a retrace for the CTA's and hedgies to drag it back down for a re-load.picked up 24T short
w/ 2 lots. 40-60T has seemed like their trading range. longer term they are all subject to news, predictable or not. bigger econ news the next couple of days, so volatility and choppiness might pick up. heading out for a little r & R, be back before the close. good luck if you're in.
regards
goma
seems to glitch a bit. got to watch earlier than usual, very defined range since yesterday so felt confident in a short near the top for a retrace.
bids were higher than asks as price move up, so looked for a retrace for the CTA's and hedgies to drag it back down for a re-load.picked up 24T short
w/ 2 lots. 40-60T has seemed like their trading range. longer term they are all subject to news, predictable or not. bigger econ news the next couple of days, so volatility and choppiness might pick up. heading out for a little r & R, be back before the close. good luck if you're in.
regards
goma
SKQT - Super Kool Quant Trader
Daily Remy All Time Return:
5.6%
.
good catch. looks like the NQ and ES reversed a bit towards the open so you might have low ticked it again. got in just after the open to
watch it slog upwards. entered a short for a plus 14T/2 lots just as it entered a molasses like trading range. a bit too much geopolitical
risk for me to wing it this morning. will keep an eye out for any glimpse of calmer responses lest we end up trading from our bunkers.
traded on a 20T range bar instead of my usual 8T. wanted to see a full days movement. included a cumulative delta chart of the same.
looked like no one really wanted to load up on the way down, lower and lower bids. maybe setting up for another accumulation range
to head back up? we'll see.
regards
goma
watch it slog upwards. entered a short for a plus 14T/2 lots just as it entered a molasses like trading range. a bit too much geopolitical
risk for me to wing it this morning. will keep an eye out for any glimpse of calmer responses lest we end up trading from our bunkers.
traded on a 20T range bar instead of my usual 8T. wanted to see a full days movement. included a cumulative delta chart of the same.
looked like no one really wanted to load up on the way down, lower and lower bids. maybe setting up for another accumulation range
to head back up? we'll see.
regards
goma