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The Beast Slayer, Lance's NQ Trading Journal


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The Beast Slayer, Lance's NQ Trading Journal

  #1271 (permalink)
 
Blue Eagle's Avatar
 Blue Eagle 
vancouver British Columbia/Canada
Legendary Market Wizard
 
Experience: Intermediate
Platform: Ninja Trader
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I am taking a mental health break from my normal trading and have spent some time (again...) playing around on SIM with the 5 range NQ chart as I'm sure many of the viewers of your webinar have because clearly it's like taking candy from a baby.

I am no stranger to this chart...I've had it up for a couple years. And there are days when I have done ok as a scalper...and then there are the other days. I just wanna say right now that I am a fan of yours...and goofing around with this chart again as my "trading chart" has only deepened my respect for the fact that you can make sense out of this thing on NQ...and I'm sure I am not alone, as most who are giving it a go are surely getting their ego's pounded. My hat is off to you.

I do have a question that I realize may not have an answer beyond gut feel and experience. You posted a big winner and I pulled it up when I got home. Your trade is marked 2 and I see exactly why you would take it but I also see the box marked 1 that had a very similar look and poked down after a little consolidation...threatening the last swing.

And the box marked 3 showed a series of pushes down with LH's and a pop below last couple pushes. Any thoughts on what keeps you out of these kinda ups and downs...or do you get sucked in to some of them but the winners still come out ahead? And lastly, how frequently do you get in and then decide, nope...don't like it anymore and bail? or do you let your stop just do it's thing?



Appreciate any ponderings you have. If nothing else I'm having a stress free blast playing scalper on SIM for a few days. I love the speed and the fact that, like my old CL days, you know almost immediately if your right or wrong. The only problem I have is that at this small TF I can see a reason to get into a trade about every 10 seconds...

Thanks,
Craig

Until you make the Unconscious conscious, it will direct your life and you will call it Fate...
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  #1272 (permalink)
 
DavidBodhi's Avatar
 DavidBodhi 
Milwaukee, WI, USA
 
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MrTrader View Post
Thanks!
BTW, what screen recorder would you recommend?



Sent using the NexusFi mobile app

OBS is totally free and does a great job. Low overhead and it can save to flv, by default. That format can be cut off abruptly (if your computer crashes, say) without ruining the file, which is a good thing. Program also can convert from FLV to mp4, if you prefer that format.

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  #1273 (permalink)
 lancelottrader 
west palm beach florida usa
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Experience: Advanced
Platform: ninja trader
Broker: Optimus Futures/ Rithmic
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Blue Eagle View Post
I am taking a mental health break from my normal trading and have spent some time (again...) playing around on SIM with the 5 range NQ chart as I'm sure many of the viewers of your webinar have because clearly it's like taking candy from a baby.

I am no stranger to this chart...I've had it up for a couple years. And there are days when I have done ok as a scalper...and then there are the other days. I just wanna say right now that I am a fan of yours...and goofing around with this chart again as my "trading chart" has only deepened my respect for the fact that you can make sense out of this thing on NQ...and I'm sure I am not alone, as most who are giving it a go are surely getting their ego's pounded. My hat is off to you.

I do have a question that I realize may not have an answer beyond gut feel and experience. You posted a big winner and I pulled it up when I got home. Your trade is marked 2 and I see exactly why you would take it but I also see the box marked 1 that had a very similar look and poked down after a little consolidation...threatening the last swing.

And the box marked 3 showed a series of pushes down with LH's and a pop below last couple pushes. Any thoughts on what keeps you out of these kinda ups and downs...or do you get sucked in to some of them but the winners still come out ahead? And lastly, how frequently do you get in and then decide, nope...don't like it anymore and bail? or do you let your stop just do it's thing?



Appreciate any ponderings you have. If nothing else I'm having a stress free blast playing scalper on SIM for a few days. I love the speed and the fact that, like my old CL days, you know almost immediately if your right or wrong. The only problem I have is that at this small TF I can see a reason to get into a trade about every 10 seconds...

Thanks,
Craig

Hi there. The 5 range chart is fast for sure, but for many years I was taking entries on a 2 range chart...lol. I definitely don't recommend that.. Now, keep in mind I also am watching a 2 minute chart and 5 minute chart as well..but the 5 range really shows me the patterns and helps me time in a move. It's very important that I enter soon enough to have my stop behind one of those A or V swings..or W and M ones. NQ is notorious for multiple retests of swings.
As far as ignoring certain setups and taking others, it's very hard to look at a static chart and understand that. It depends on how fast price is moving...how many times it's tried to break through a price..what my Tick strike indicator is doing. Obviously I have plenty of losing trades as well. The good news is my wins are finally eclipsing the losers..usually. But I believed, on the trade you mentioned, that the area that had been tested a few times already, and would give way..especially with the momentum I was seeing.
As far as knowing when to get out..I ,sometimes on smaller trades 40 ticks or less..will let it play out and not interfere. On bigger targets, if I suddenly start seeing a reversal pattern..like a series of swing highs or lows being taken out or some sort of double top or double bottom forming..I will at least move my stop to breakeven and A.) see what happens or B.) take profit and wait for another setup.

Failure is not an option
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  #1274 (permalink)
 lancelottrader 
west palm beach florida usa
Market Wizard
 
Experience: Advanced
Platform: ninja trader
Broker: Optimus Futures/ Rithmic
Trading: NQ
Posts: 1,112 since Oct 2011
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Still plenty of afternoon action in NQ. Just got this nice W formation 2nd wave for 80 ticks.
trade march 25 80 tick move

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  #1275 (permalink)
IaskQs
Los Angeles, CA
 
Posts: 12 since Mar 2021
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lancelottrader View Post
Still plenty of afternoon action in NQ. Just got this nice W formation 2nd wave for 80 ticks.
trade march 25 80 tick move

You are absolutely killing it with these trades. Is your chart 5 tick range or 5 point range? It looks like 5 tick range but just want to make sure I understand correctly.

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  #1276 (permalink)
 joe s 
sacramento ca us
 
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Great trades lancelottrader

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  #1277 (permalink)
 lancelottrader 
west palm beach florida usa
Market Wizard
 
Experience: Advanced
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Broker: Optimus Futures/ Rithmic
Trading: NQ
Posts: 1,112 since Oct 2011
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Thanks Received: 5,386


IaskQs View Post
You are absolutely killing it with these trades. Is your chart 5 tick range or 5 point range? It looks like 5 tick range but just want to make sure I understand correctly.

Well, on instruments like NQ, it's a 5 tick range chart. For every 5 ticks it prints a bar. Now when you have something like YM, where a tick and a point equal the same amount it's still the same 5 range bar.

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  #1278 (permalink)
 
mmaker's Avatar
 mmaker 
Toronto Canada
 
Experience: Intermediate
Platform: ninjatrader
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Posts: 400 since Feb 2011
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May I ask what the name of that blue yellow red indicator that looks like a median line crossed with a supertrend?

The reason i ask is I have seen it on twitter.

Thanks in advance.


Blue Eagle View Post
I am taking a mental health break from my normal trading and have spent some time (again...) playing around on SIM with the 5 range NQ chart as I'm sure many of the viewers of your webinar have because clearly it's like taking candy from a baby.

I am no stranger to this chart...I've had it up for a couple years. And there are days when I have done ok as a scalper...and then there are the other days. I just wanna say right now that I am a fan of yours...and goofing around with this chart again as my "trading chart" has only deepened my respect for the fact that you can make sense out of this thing on NQ...and I'm sure I am not alone, as most who are giving it a go are surely getting their ego's pounded. My hat is off to you.

I do have a question that I realize may not have an answer beyond gut feel and experience. You posted a big winner and I pulled it up when I got home. Your trade is marked 2 and I see exactly why you would take it but I also see the box marked 1 that had a very similar look and poked down after a little consolidation...threatening the last swing.

And the box marked 3 showed a series of pushes down with LH's and a pop below last couple pushes. Any thoughts on what keeps you out of these kinda ups and downs...or do you get sucked in to some of them but the winners still come out ahead? And lastly, how frequently do you get in and then decide, nope...don't like it anymore and bail? or do you let your stop just do it's thing?



Appreciate any ponderings you have. If nothing else I'm having a stress free blast playing scalper on SIM for a few days. I love the speed and the fact that, like my old CL days, you know almost immediately if your right or wrong. The only problem I have is that at this small TF I can see a reason to get into a trade about every 10 seconds...

Thanks,
Craig


Visit my NexusFi Trade Journal Reply With Quote
  #1279 (permalink)
 
Blue Eagle's Avatar
 Blue Eagle 
vancouver British Columbia/Canada
Legendary Market Wizard
 
Experience: Intermediate
Platform: Ninja Trader
Trading: CL
Frequency: Daily
Duration: Minutes
Posts: 1,817 since Jan 2013
Thanks Given: 7,815
Thanks Received: 7,862


mmaker View Post
May I ask what the name of that blue yellow red indicator that looks like a median line crossed with a supertrend?

The reason i ask is I have seen it on twitter.

Thanks in advance.

It's the amaADXVMA by Lizard Indicators...(aka Fat Tails on FIO). It's in the Ninjatrader downloads. Not sure about other platforms. Nothing magic about it...don't base trades of it...just a quick reference visual aid for shortest term strength.

Craig

Until you make the Unconscious conscious, it will direct your life and you will call it Fate...
Visit my NexusFi Trade Journal Reply With Quote
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  #1280 (permalink)
 
mmaker's Avatar
 mmaker 
Toronto Canada
 
Experience: Intermediate
Platform: ninjatrader
Trading: es
Frequency: Several times daily
Duration: Minutes
Posts: 400 since Feb 2011
Thanks Given: 1,178
Thanks Received: 508



Blue Eagle View Post
It's the amaADXVMA by Lizard Indicators...(aka Fat Tails on FIO). It's in the Ninjatrader downloads. Not sure about other platforms. Nothing magic about it...don't base trades of it...just a quick reference visual aid for shortest term strength.

Craig

Thanks.

I have seen it used as part of a trading system. A trader on Twitter. He charges for his trades. He is also on collective 2 i think.

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