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Hi Lance,
Thank you for the video.
It takes a lot of courage to do what you do, first of all, and more courage to say that after 8 years you are still working to improve more. Keep up the good work. Thank you for sharing.
Amin
@lancelottrader, I've watched some of your videos and read a lot of the thread and I might have read the answer to my question in there somewhere but I can't recall at this point. I've been playing around with watching NQ and trading it a little (with mixed results)... mostly trading Cl (with mixed results ) .
When I do trade NQ I tend to watch if it coincides with levels on ES and Ym as they move thru or bounce off levels and if all are breaking out, for example, I'm more likely to take the trade. Do you watch the other indexes? Or 100% focus on NQ?
Really enjoyed the thread and videos, especially the last one. You wrote about staying in trades longer and I had the thought "I can often get into decent trades and since I never REALLY know if this is gonna be the one that goes for a serious move I SHOULD make the most out of EVERY trade". It was a new perspective at some level.
I tend to have 2 different methods. One is a shot at the long trades (1 or 2 contracts, bigger stop and target) and then sometimes I try for a scalp and am in and out pretty quick (10 tick stop and 20 tick target on CL). I need to start noting when I do scalp what would have happened if I had stayed in the trade longer because as I said, I never really know which one is going all the way.
Anyway, just wanted to pick your brain a little as NQ is a market of interest to me.
Thanks, Craig
Hi Craig. Thanks for your comment. Yes, I watch YM at the same time as NQ, but I don't generally watch ES. I find that although YM and NQ move in a similar direction most of the time, that's not always the case. In recent weeks, we have had days where YM was moving up sharply and NQ was literally crashing..due to some things happening in Tech stocks. So, although I monitor YM, I try not to let it unduly influence my NQ trades.
As far as staying in runners, there are many factors to consider. Sometimes, extreme order flow becomes obvious and it's a matter of timing an entry. The more momentum I see, the more I know it can smash through minor pockets of support and resistance and keep going.
Another factor is when you find these areas where there is basically no obstacles in the way for a long time. In other words, there is virtually no support or resistance for a large number of ticks. I am much more likely to hold for more points in that type of scenario.
I still don't mind a 20 tick scalp or so on NQ..if I feel that's as far as it will go..but I am trying to hold for bigger winners if the conditions merit it.
I find CL a little hard to figure out lately. It can do very little for long periods of time and the suddenly surge strongly. One thing I've noticed is that these CL surges tend to happen the most around 11:00 to 11:30 est.
I thought I should mention that I had a very rough time with my trading this week. After several months of being very consistent and profitable, I got beat up pretty good by NQ .
I hit my max daily drawdown on Monday, Wednesday and Thursday. Not good. I had a small winning day on Tuesday and a decent session today. A big winner on CL, today, when it nosedived at around 10:50 am est saved me from a truly horrible week.
So, what happened? How does someone who's been doing pretty well with NQ suddenly go "Full retard?" One main problem is I allowed the feeling of missing The Big Move adversely affect me. For several days in the last few weeks, I have seen NQ launch off the opening 5 minutes with a huge move. Generally I don't like to trade anything in the opening five, sometimes 10 minutes. But after seeing all these fast big moves right at the open, I think subconsciously I wanted to catch these moves instead of sitting on the sidelines. Huge mistake. My system is not supposed to be about "catching moves"...It's about waiting for the best possible, high probability setups and timing a great entry.
But lately, I've been feeling the euphoria of finally riding out some bigger winners..and I felt I should be more bold and jump into some of these opening bell explosive moves.
Well, I got totally whipsawed and found myself chasing price. I have watched my recorded sessions and it looks like a freakin' Chimp took over my PC. Actually, that's an insult to a Chimp..He probably wouldn't have taken some of my trades.
Anyhow, the lesson I learned was I must never worry if I'm not on board a massive move, if the setup doesn't fit my criteria. Plus..I was basically right to usually stay out of the opening 5 to 10 minutes of NQ..even if I miss a 200 tick move.
I wise trader once told me:
"It is far better to be out of the market and wish you were in...
Than to be IN the market wishing you were out."
Also, a drill instructor at the marine base trains a motorcycle group.
When he sees the group getting too confident in their ability to control the bike he sends them into a sand pit.
After a few minutes trying to control the bike there, they lean how little skill at controlling the bike they actually have.
Now that you have gone into the sand pit, get back out there and kick butt.
Rejoice in the Thunderstorms of Life . . .
Knowing it's not about Clouds or Wind. . .
But Learning to Dance in the Rain ! ! !
I have recently gone through this entire thread with great interest as a lot of your futures trading rings true with me.
I would love to watch your videos but all I get is a black screen. Are they anywhere else ie U tube or can anyone else suggest why I can't view the videos.
Thank you for the nice words. I'm sorry you aren't able to view the videos. I'm not sure why. I haven't heard of anyone else having that problem. If several other people find that they can no longer view them, then I'll have to see if my youtube account has issues.
) .
Not good. I had a small winning day on Tuesday and a decent session today. A big winner on CL, today, when it nosedived at around 10:50 am 
