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The Beast Slayer, Lance's NQ Trading Journal


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The Beast Slayer, Lance's NQ Trading Journal

  #731 (permalink)
emini2000
Atlanta GA USA
 
Posts: 285 since Aug 2013
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Just looking at some pics of him. Wow. Good looking and very fit even through old age.

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  #732 (permalink)
 lancelottrader 
west palm beach florida usa
Market Wizard
 
Experience: Advanced
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I've made a few slight changes that i have found helpful in the last few weeks. Although I have had the order flow indicator Tick Strike for a long time, I wasn't really using it to it's best advantage. A lot of my entries have been price action pattern- based and the entry point was often a location like the break of my black Spine on my 2 range chart.For example, one pattern was a pullback during a fresh strong momentum move..that would fail in it's countertrend path. After the appropriate pattern formed and price would re-enter the trend, I would enter on the break of the Black spine. Often I would get in without any type of real time order flow confirmation. Many of these trades would work out...but also there were many times when they would not. The reason I liked the Black spine entry is it seemed to keep my risk very low and got me in at what I felt was a good "price."
I have found that I win more often on these moves if I see some order flow starting to accumulate in my direction first..through tick strike showing orders coming in. Yes, I may get into a move 3 to 5 ticks later..but it definitely has more confirmation and I am losing far less trades on these setups.

Also, after reviewing lots of my recorded sessions, I would find there were these almost spontaneous surges in Cl that seemed to come out of nowhere..and I would sit there dazed watching it explode up 30 to 50 ticks in a matter of seconds. I would then hope for some kind of pullback..which often didn't work out that well.

I noticed a certain price pattern of a previous swing high or swing low..being taken out in conjunction with extreme order flow coming in. I have been practicing these "Power Swing Breaks" (As I have named them..lol) and have been nailing lots of them. You have to be quick on the trigger to get them but they are nice little pops that I used to sit back and watch passively..in the past.
Also, I am liking how price appears on the Unirenko bars and have found it easier to watch and hold trades than on my frantic moving 2 range chart..
So, overall a few minor changes..but I am getting better results.

Failure is not an option
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  #733 (permalink)
 wshi88 
Santa Barbara, CA
 
Experience: Advanced
Platform: NinjaTrader
Trading: ZB
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Hi Lance,

Thank you for the update.

I've been using Unirenko for quite some time, I also find it very clear and intuitive.

Question, what do you use Fisher Transform indicator for? To spot divergence?

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  #734 (permalink)
 lancelottrader 
west palm beach florida usa
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wshi88 View Post
Hi Lance,

Thank you for the update.

I've been using Unirenko for quite some time, I also find it very clear and intuitive.

Question, what do you use Fisher Transform indicator for? To spot divergence?

I have just been experimenting with it for about a week. I find it gives some hints on this small timeframe when the momentum starts to die out..It doesn't lag much from what I've seen. I'm liking it so far.

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  #735 (permalink)
 lancelottrader 
west palm beach florida usa
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Thanks. I'll check it out.

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  #736 (permalink)
 lancelottrader 
west palm beach florida usa
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Experience: Advanced
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Today is a day that I have seen many times in Crude Oil..and have lost badly many times on, in the past. Usually, the 9 am session has begun after Crude has made a huge move down...and then it goes into a sort of consolidation. There are many false little signals to go long at support...but doing so with a small stop gets you chopped up again and again.

On these type of days, I no longer try to call the bottom. I need to wait till a clear reversal is underway and then find a good entry. Yes..eventually the reversal usually comes..but you can get stopped out a lot trying to get long too early.

Funny, the same thing doesn't happen that much in an uptrend. The uptrend moves often reverse down very sharply.

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  #737 (permalink)
 oliverburr 
Sarasota Florida USA
 
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lancelottrader View Post
Today is a day that I have seen many times in Crude Oil..and have lost badly many times on, in the past. Usually, the 9 am session has begun after Crude has made a huge move down...and then it goes into a sort of consolidation. There are many false little signals to go long at support...but doing so with a small stop gets you chopped up again and again.

On these type of days, I no longer try to call the bottom. I need to wait till a clear reversal is underway and then find a good entry. Yes..eventually the reversal usually comes..but you can get stopped out a lot trying to get long too early.

Funny, the same thing doesn't happen that much in an uptrend. The uptrend moves often reverse down very sharply.

I find in CL it is often best to pre-define your "line in the sand" at which you are willing to buy against. Today I am looking at Tuesdays low of 40.09 and last weeks high of 39.84 which puts CL near $2 of range on the session. The latter is also close to a 38% retracement to last weeks low in the May 16 contract. The potential for a weekend announcement that may hurt short sellers may prompt short covering in to today's close.

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  #738 (permalink)
 lancelottrader 
west palm beach florida usa
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Took this trade...not too sure how it will turn out though. A little late in the day.

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  #739 (permalink)
 lancelottrader 
west palm beach florida usa
Market Wizard
 
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Trading: NQ
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Looking better now.

Failure is not an option
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  #740 (permalink)
 lancelottrader 
west palm beach florida usa
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Target acquired.

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Last Updated on April 11, 2023


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