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Hey @PandaWarrior, your thread is one of my favorite journals as I think your style of trading really resonates with me. I've been trading the NQ and your recent post setups have been extremely helpful to me, so thank you.
Quick question, when do you usually get up and start watching the markets? I usually start around 6:25AM PST but I wonder if I need more time to watch the pre-RTH action.
Well for NQ, 30 minutes prior is probably enough to get the levels drawn in, find potential EXIT points both long and short and then wait for the open.
I was trading premarket but the stats are showing me thats not very profitable....my buddy @tderrick would say otherwise but he trades completely different than I do. I like breakouts and momentum. That comes at the open. He likes fade trades and those work pretty well premarket but take FOREVER to develop.
I might mention these NQ trades are SIM...so take them with a grain of salt. I am getting ready to add some money to my account so I can trade it but with all the hubbub with the different brokers I am starting to become reluctant to do so....so I might not although I really want to.
I'm also waiting for a day when this strat doesn't work on sim....it seems almost too good to be true.
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris
Hello Brian! I'm sorry to find out that your wrist has been bothering you. I hope you'll get better soon. while you can't type much, you might have time to read this. Building an equity millipede @ Forex Factory
it's called "building an equity millipede", and it's a thread describing and discussing the building and holding of large forex positions for a very long time. I've seen that you've been trying to do this on your own, therefore I thought that you might find it useful.
Today was one of those days when you have perfect examples of 2 different markets where price action and volatility were completely different from one another. In one case a trend-day is presented, and in the other case a range-day is presented. Each particular type-of-day calls for a different approach, strategy, management to the trade.
I'd like to give a shout-out to my boy @Fat Tails for his most-excellent VWAP indicator - no doubt he has earned everyone's respect and deserves our propers, but I tend to be a tad superstitious/ocd, hence my original vwap-indie still clings to my workspace like a stubborn larry clings to porcelain.
