Trading the e mini nasdaq

love it..im going to repeat it 5x when i get tempted to do something dumb in the market

my number 1 rule is to remove risk as soon as possible without wrecking the trade. That's why when up 6 ticks stop moved to +1 to cover costs and the trade is now free. 98% of my trades get to this stage the other 2% either result in a +1 when it takes out a swing and I and others struggle to get to breakeven or I lose any where from 1 to 5 ticks or the very rare full 15 tick loss. that's my plan of attack and my plan when I get attacked

if none of you have seen video of todays trading here it is this explains what we have been talking about

"I want to scream & shout, & let it all out..."

I saw the setup, but chickened out and entered 7 ticks worse (gone down to a single contact to build confidence) :

(NB. renko bars are presently in jtLabs test department : no renko questions, please, I experiment all the time for fun)

Missed by a tick or two, but I think the order, which I placed about 20 mins before price almost got there was in the right place... (cancelling order now).



NB. don't be distracted by the entry and exit arrows from my earlier trade.

My last post for awhile... H, first trade of today's session : does it match yours, please ?

Edit : updated chart, finished - I found that tiring... maybe I need to vape ;-))))

yes same as me JT after 4 +1s I got the message and just shut it down pre trump stuff

following

Nice system, when there is a bad day, end result is be+1 and not - 50 ticks

Well yesterday could have went 1 of 2 ways either normal or per trump jitters

pretty lousy day

Another switch to the Live account and another blow out. Herold, may I have a few question?

1) I was comparing candles on your chart with my and most of the time they look different. I'm having far more wicks on my candles then you have. I'm using paid data feed from Sierra chart. Are you using another data feed provider?

2) Second problem is with the limit orders. I think it is mostly distance problem (I'm based in Europe - so I'm always few tens of a second behind). Almost 90% of my Buy Limit orders are not filled. Do you think moving these orders tick high/low would solve this problem?

Sierra uses a third party feed like cqg or rithmic my broker has there own feed directly to the electronic market.i had a few touches and no fills I give myself an extra tick from my pullback area also sometimes you just don't get filled

Plus 11 is still better than minus Harold. Well done for showing the realities of trading.

Yep turnip sometimes you kill it sometimes it injures you that's trading everyday is different just like war

May I ask, what has kept you from entering long after it was taken out at point 1 and point 2?
Thank you!

That whole area was consolidation sideways action no trend so I would wait till it trends. Even though price took out high it snapped back you want to take 123s at end of trend hope that makes sence

Divergence are you still thinking about a webinar this Sunday? Thanks

I have a lot going on homewise for next few weeks market is closed on Feb 20 presidents day will shoot for that day or Sunday day before with 19th or 20th whichever works for most

I finished my NQ session @ +8 : very few "well-formed" setups; made a little more elsewhere.

H - are you sill planning a webinar on Sunday, I wonder ? Edit : I see you answered this q while I was typing, thanks... but I will be in Switzerland that weekend, so please record it

@xjames26 : non-time based charts (tick, volume) will almost always look different depending on the exact second your computer / platform starts building the first bar of the chart. Some programs, eg. TradeStation, allow you to synch to the Daily or Weekly Open, but most do not. And as you've noticed, datafeeds vary. Location should not be a problem with this method, as generally we're placing our Limit orders well in advance (eg. many seconds), so they are already sitting at the exchange when price triggers (I live in the Dutch countryside with max 3mb down, 750kbs up). If it doesn't fill & the ask price traded (for a Buy), then there were too many orders in front of you (very unusual at peak times). Hope you're trading in SIM till you get the swing of this method.