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The Beast Slayer, Lance's NQ Trading Journal


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The Beast Slayer, Lance's NQ Trading Journal

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  #1521 (permalink)
 lancelottrader 
Legendary Market Wizard
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Trades for today on NQ.


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  #1522 (permalink)
redbarntrades
Kalispell=Mt./USA
 
 
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Thanks Lance for the video.

I really like when price moves WAY AWAY from the mean as in the first 5 minute candle and hits a support level. Good place for a long for me (high probability trade in my eyes). Then I was a bit surprised how far it pulled back, but when it hit the mean on the downward moving average, it was a great setup to look for shorts. Of course, it could have found some support at 14100, but it did not hold and continued the down move.

Forcing myself to stay with the trend except if price is FAR from the mean.

Employing an 8 range chart for entries thanks to you.

Watching the 15 minute and the 5 minute to see how it compares to the 1&2 minute. Then using the 8 range for entries.

Very happy today. Appears that I make less trades but better ones.

Gracias!

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  #1523 (permalink)
 joe s 
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Good job lancelottrader nice system

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  #1524 (permalink)
 lancelottrader 
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Trades from today. Felt I read the market well and jumped immediately into that opening surge long.


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  #1525 (permalink)
 Daytrader999 
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Great trades and very well done Lance!

I'm still hesitating to get in right at the open, but the last couple of weeks taught me the lesson that this would have been my best bet....so I'm still convincing my psyche to act appropriately if I don't want to spend all day at my screens watching how the market goes without me and being annoyed that I again have been too apprehensive with my entries.....

"If you don't design your own life plan, chances are you'll fall into someone else's plan. And guess what they have planned for you? Not much." - Jim Rohn
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  #1526 (permalink)
 lancelottrader 
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Daytrader999 View Post
Great trades and very well done Lance!

I'm still hesitating to get in right at the open, but the last couple of weeks taught me the lesson that this would have been my best bet....so I'm still convincing my psyche to act appropriately if I don't want to spend all day at my screens watching how the market goes without me and being annoyed that I again have been too apprehensive with my entries.....

I think it's usually a bad idea to jump right in, but it worked out ok today. I did get a bit "wimpy" and only did 1 contract..lol

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  #1527 (permalink)
 tvaughan4 
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lancelottrader View Post
Trades from today. Felt I read the market well and jumped immediately into that opening surge long.

Thanks for posting, great stuff as usual.

I have changed my RR to 100 ticks:40 ticks because of watching/reading your stuff and things are going much better, appreciate everything you are posting.

Question I have: my strategy is definitely different, but it called for a trade at the open as well today

I hit my 100 tick target, but due to my strategy, unlike yours, I had no other entry points and could only watch as this thing just kept going up, up, up...

so I guess my question is psychological, how do you go about dealing with that? I know it's kind of a "greedy" question/problem. But I'm trying to be serious. It bothers me psychologically and I'm wondering how others deal with it? Sometimes it just overwhelms me and I'll jump back in. Today I didn't do that and stuck to my rules. Although if I hadn't I would have been rewarded... But I know that's usually not the right move. I'm trying to be happy for the winner and move on, but watching it rip like that is tough.

Thanks for any help.

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  #1528 (permalink)
 Daytrader999 
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lancelottrader View Post
I think it's usually a bad idea to jump right in, but it worked out ok today. I did get a bit "wimpy" and only did 1 contract..lol

Yeah, usually I'm waiting a few minutes after the open for the dust to settle, but during the last few weeks I don't get much entries after the first 30-45 minutes if I don't jump on the first big move.

Still working on that.

"If you don't design your own life plan, chances are you'll fall into someone else's plan. And guess what they have planned for you? Not much." - Jim Rohn
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  #1529 (permalink)
 joe s 
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lancelottrader Nice trades is the tick strike an indicator someone can get or did you program it what is it looking at
thanks Joe

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  #1530 (permalink)
 lancelottrader 
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tvaughan4 View Post
Thanks for posting, great stuff as usual.

I have changed my RR to 100 ticks:40 ticks because of watching/reading your stuff and things are going much better, appreciate everything you are posting.

Question I have: my strategy is definitely different, but it called for a trade at the open as well today

I hit my 100 tick target, but due to my strategy, unlike yours, I had no other entry points and could only watch as this thing just kept going up, up, up...

so I guess my question is psychological, how do you go about dealing with that? I know it's kind of a "greedy" question/problem. But I'm trying to be serious. It bothers me psychologically and I'm wondering how others deal with it? Sometimes it just overwhelms me and I'll jump back in. Today I didn't do that and stuck to my rules. Although if I hadn't I would have been rewarded... But I know that's usually not the right move. I'm trying to be happy for the winner and move on, but watching it rip like that is tough.

Thanks for any help.

To me, after revenge trading, one of the other issues that can plague you is the fear of Missing out. It sucks to see a trade just go screaming up or down and you're not in it. It's very frustrating. I now just remind myself that with an instrument like NQ, there will be plenty of other moves. I don't concern myself too much with having a winning day, but more of a winning week. Usually there will be enough setups during the week to hit a decent goal.

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