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NQ Catwalk
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NQ Catwalk

  #1 (permalink)
Market student
Tbilisi, Georgia
 
Futures Experience: Beginner
Platform: NT7, NT8, SB-Pro
Broker/Data: NinjaTrader Brokerage+CQG, TopStepTrader + Rithmic
Favorite Futures: ES, 6B, 6J, 6A, 6E, NQ
 
citikot's Avatar
 
Posts: 70 since Feb 2015
Thanks: 288 given, 88 received

NQ Catwalk

HIHI FRNDS,

Main purpose of my journal here is to reinforce my accountability as trader and trading consistency by regular sharing my ideas and trades with members of best ever trading community in the world. I have been reading FIO for a long time already, almost after I started to trade CME futures more 2 years ago. I learned a lot and finally I have chosen my trading style and now I think that I have something to iinput to the community. It's real honor and challenge for me!

My primary futures instruments to trade are NQ and ES. From time to time I trade Currency futures but I'd prefer to trade currencies on spot FX with reliable broker. I'm FX professional with 11+ years of experience as spot forex interbank dealer and retail broker. And I'm still in the industry.

Trading strategy

My trading approach is turning around KISS principles. Bite small and run fast is my motto. I'm scalper. Despite I have good analytical skills and sometimes I predict swing and long term moves till pips, I can not trade my long term predictions. Working with psychology during my trading career guided me to self acceptance and understanding that You can not take all money from the table. But markets are holly place where everybody could find trading style suitable to the personality, master the consistency and achieve professional and financial goals. So... I'm scalper and my tools are Volume/Market Profile and Footprint. Currently I'm crawling through JigSaw trainig cources and want to say many thanks to Peter Davis for his guidance! Anyway, I'm trying to keep things simple.

1. I analyse weekly profile to identify long term market state and potential zones of reversal and magnet for price.
2. I analyze daily profile to identify HVN/LVN of past day/couple of days.
3. I analyze hourly charts to identify current short term trend. Though I trade both counter trend and trend following trades. It depends on availablity of confirmation.
4. During trading day I'm looking for order flow setup around LVN, prior day hi/lo/mid, Globex hi/lo/mid, open range hi/lo with confirmation from Cummulative delta and MACD divergence on support charts.
5. I trade 1-2 contracts because my account is too small with stop 12-20 ticks and RR 1 to 1. If I trade 2 contracts I'm trying to scale out half of the position at nearest HVN/VWAP etc and wait for second half on other side of the range. My current goal is to save the capital not to get rich fast and make 2-3 good trades per trading time.
6. I trade more often last 3 hours of the trading session but it depends on my other job.

More details about my setups and current market view I will provide in future posts.

My trading statistics could be evaluated here

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Bite small, run fast!
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  #2 (permalink)
Quick Summary
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  #3 (permalink)
Market student
Tbilisi, Georgia
 
Futures Experience: Beginner
Platform: NT7, NT8, SB-Pro
Broker/Data: NinjaTrader Brokerage+CQG, TopStepTrader + Rithmic
Favorite Futures: ES, 6B, 6J, 6A, 6E, NQ
 
citikot's Avatar
 
Posts: 70 since Feb 2015
Thanks: 288 given, 88 received

WEEKLY PREP 28th of August, 2016


Despite long awaited Friday's testimonial of Janette Yellen and huge volatility of last trading day of previuos week NQ remained in balanced range which longs form 5th of August. (Fat crimson lines on charts) Market just tasted the lower band where agressive buyers snuffed out any attempts of sellers to push market out of balance. It gives me conviction that next week we will spend inside the balance with more bullish bias. Any breakthrough down of balance will be short lived IMHO. Indexes are on historical highs and nothing changed aroung what could break the current bullish santiment in US index futures.

Below are weekly profile with zones for reversal and goals and daily profile with levels for Monday.

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Red lines - HVN (potential targets of trades)
Blue lines - LVN (potential reversal levels)

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Bite small, run fast!
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  #4 (permalink)
Market student
Tbilisi, Georgia
 
Futures Experience: Beginner
Platform: NT7, NT8, SB-Pro
Broker/Data: NinjaTrader Brokerage+CQG, TopStepTrader + Rithmic
Favorite Futures: ES, 6B, 6J, 6A, 6E, NQ
 
citikot's Avatar
 
Posts: 70 since Feb 2015
Thanks: 288 given, 88 received

My Workspace

My basic workspace includes Ninja DOM for trading, JigSaw DOM and tapes for analysis, working chart according Peter Davis template and several support charts - foorprint, Market/Volime profile and ordinary candle charts for different confirmation signals (Open Range levels for ES, YM and NQ, hourly and 5 min NQ with MACD)

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).



Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Bite small, run fast!
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  #5 (permalink)
Market student
Tbilisi, Georgia
 
Futures Experience: Beginner
Platform: NT7, NT8, SB-Pro
Broker/Data: NinjaTrader Brokerage+CQG, TopStepTrader + Rithmic
Favorite Futures: ES, 6B, 6J, 6A, 6E, NQ
 
citikot's Avatar
 
Posts: 70 since Feb 2015
Thanks: 288 given, 88 received

Trading 29th of August 2016

Today I have finished early. Tired a little and decided not to trade in bad conditions.Only couple of trades (6B and NQ)

As planned before, I was looking for longs after session open. After forming of Open Range (first 30 minute candle Hi/Lo after open) I noticed that ES and YM started to form a base on the level fo OR Hi. NQ made substantial pullback. So I decided that breakthrough is imminent I went long from the local support at 793 though original plan was to go long from 789-91 zone. 793 didn't held so I implemented plan B and took second contract as planned - from 791. Stop was 88, take 95. I exited earlier becuase found signs of weakness in the tape. Nevertheless that breakthrough of Open Range has been delayed and even when it has occured NQ was lagging hard. So my decision to stop the trading was correct.

What I did wrong? I entered earlier than I planned.

What I did right? I read the order flow more or less clearly and predicted the development of the situation quite correctly.

How I improve my trading from today? I should be more patirent and wait the market at planned point and not to enter ahead of locomotive.

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Bite small, run fast!
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  #6 (permalink)
Market student
Tbilisi, Georgia
 
Futures Experience: Beginner
Platform: NT7, NT8, SB-Pro
Broker/Data: NinjaTrader Brokerage+CQG, TopStepTrader + Rithmic
Favorite Futures: ES, 6B, 6J, 6A, 6E, NQ
 
citikot's Avatar
 
Posts: 70 since Feb 2015
Thanks: 288 given, 88 received

Devastating day :(

Today I had connectivity issues with my platform. Ninja support was excellent! They recommened some steps to handle with my modem and after I apply those recommendations all started to work fine. But I lost time to get prepared for the trading session well. And it was a sign not to trade today. But I'm obliged to trade daily because currently I'm in selectoion programme of MESCapital prop shop. So I started to trade. I had ideal short in 6J wich gave me 12 pips. But instead to stay with currencies I switched to NQ. And here I was devastated. I had only 2 small profits with 4 points, 1 breakeven where I exited earlied just to see how in 3 minutes price took first and second take profits. And I had 4 full stop losses. Thanks God I have an automated risk manager at my live account and it prevented me from tilt on Live so my small capital survived. Unfortunatelly I can not say same about my demo in selection. I made another two trades which have been stopped out and i turned my profitable day +$225 into horrible loss - $700.

The major issue today was trading of what You know but not what You see. As usual, they call Tuesday as "turnaround". After forming good volume aria around day lows and not far from general weekly reversal aria at 4760-4770 I decided that at second half of trading day we will be watching strong rally to 4780-4790 aria. So all my trades were longs. Unfortunatelly I was wrong and paid for it.

What I did wrong? I didn't stop trading after first half of the trading day. I walked outside, thought about situation and decided to trade further. It was deadly mistake. Also I didn't hear the sign "not to trdae today" from my platform )))

What I did right? I set automated risk manager on my account with limit of -$340 for closed positions and it prevented me from huge loss on live. At least I set stop loss orders and almost didn't move them though today's volitility was higher than I can afford for my stops.

How Could I improve? Francly speaking I don't have an answer on this question. Such a behavireal pattern like today is my problem during many years! I earn small and often, but loose rarely and huge. I tried different mental strengthening programs but all what I achived with them is understanding of my problem and identifying the roots of them. Unfortunatelly roots are objective not subjective that's why their influence still can not be overcome

Anyway, tomorrow we will have end of month and I don't trade at last day of the month, quarter and during OPEX days. Also I need to calm down after such a devastating day like today. So will try to make couple of good trades already at the first day of the autumn.

Bite small, run fast!
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  #7 (permalink)
Market student
Tbilisi, Georgia
 
Futures Experience: Beginner
Platform: NT7, NT8, SB-Pro
Broker/Data: NinjaTrader Brokerage+CQG, TopStepTrader + Rithmic
Favorite Futures: ES, 6B, 6J, 6A, 6E, NQ
 
citikot's Avatar
 
Posts: 70 since Feb 2015
Thanks: 288 given, 88 received

Choppy end of month

Today I just made some very small scalps from intraday levels in FX futures just to recover confidence and equity. Unfortunatelly market was slow and choppy so I didn't have patience to wait untill take profits. Though all my targets have been hit later and my stops would be never touched. Nevertheless I recovered balance substantially.

What I did wrong? I didn'n meet take profits. I entered the trades some ticks later than should. Market was choopy aand thin, i din not get fill in every of my original limits. So I chased a price a bit. Amd exited earlier.

What I did right? I traded only in direction of higher timeframe trend (i went long dollar in 6J and 6E)

How could I improve? Sit on hands and wait take profit.

Bite small, run fast!
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  #8 (permalink)
Market student
Tbilisi, Georgia
 
Futures Experience: Beginner
Platform: NT7, NT8, SB-Pro
Broker/Data: NinjaTrader Brokerage+CQG, TopStepTrader + Rithmic
Favorite Futures: ES, 6B, 6J, 6A, 6E, NQ
 
citikot's Avatar
 
Posts: 70 since Feb 2015
Thanks: 288 given, 88 received

My workspace for trading FX futures (6E and 6J)

Due to opprtunity to trade european session I started to trade FX futures. I chose 6E and 6J. Actually on spot-forex I like to trade 6B but on CME futures market it is not most liquid contract and spread is too wide for scalping.

It's modification of my index futures workspace without market profile and footprint charts. I consider them not informative for FX futures trading. All information for short term trading decision could be obtained from set of indicators based on cummulative delta and volume profile information.

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Bite small, run fast!
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  #9 (permalink)
Market student
Tbilisi, Georgia
 
Futures Experience: Beginner
Platform: NT7, NT8, SB-Pro
Broker/Data: NinjaTrader Brokerage+CQG, TopStepTrader + Rithmic
Favorite Futures: ES, 6B, 6J, 6A, 6E, NQ
 
citikot's Avatar
 
Posts: 70 since Feb 2015
Thanks: 288 given, 88 received

Daily Prep for 1st of September

Today I will trade ES

Calendar

8:30 NYT Jobless Claims
9:45 Markit Manufactuting PMI
10:00 ISM Manufacturing PMI

OVN Bull-Bear Zone 2175-177
OVN Delta is positive +10 000
Projected open of RTH - out of balance with Bullish Bias

Plan.

1. Test of 2168. Go long.
2. Opening breakout of BBZ. Test of 2177 go long. First targets 2180-2182.
3. If first hour will hold 2182, go long. Bullish santiment. Targets are 2187 and 2190.

So I dont want to play reversals today. I suggest strong bullish breakout form the opening but limited by 2182 and 2190 level untill tomorrow's NFP. Nevertheless I will look for entry longs.

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Bite small, run fast!
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  #10 (permalink)
Market student
Tbilisi, Georgia
 
Futures Experience: Beginner
Platform: NT7, NT8, SB-Pro
Broker/Data: NinjaTrader Brokerage+CQG, TopStepTrader + Rithmic
Favorite Futures: ES, 6B, 6J, 6A, 6E, NQ
 
citikot's Avatar
 
Posts: 70 since Feb 2015
Thanks: 288 given, 88 received

When absence of plan B is bad


I'm done for today. As day progress revealed, my plan was far from perfection. I didn't have plan B for shorts. I don't know why I was so sure about longs today, probably because I was waiting the test of 2157 zone tomorrow, after NFP. But it happened today.

Nevertheless, I made two trades. First as planned after first test of day low. I went long from 2168 for 2 points. And then after orderflow started to show signs of aggressive shorts, I joined a stop-run again from 2168 to 2166. And it's all. I didn't have plan for shorts and I didn't have a plan to play 2157 zone today. And it cost me tons of money becuase I had 2 perfect setups, one for short, second for long from 2157. I was almost ready to take long but accordong calendar it was FOCM member speech sheduled. So I was afraid for knee-jerk reaction and breakthrough lower. Though technical setup was really powerful and gave 10 ful handles of rebound from support.

Let me share this setup.

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As You see, we have triple divirgence between price on critical level and MACD and Cummulative Delta. It was iron clad setup if... There is always big if... If there is no scheduled speech.. if I would be brave anough.. Anyway, setup is worth sharing. It's not so often so next time i will be more brave to take it.

Second setup is just for information. I didn't have plan to go short so I just watched on it and put it to the box of my experience. It's footpring test of the so called DeltaSurge zone offered free by Michael Valtos from Order Flows | Trading Decisions Based On Order Flow Analysis for his subscribers. The essence of the setup is surge of delta during 4 bars where there is opposite delta in second bar comparing to first, then in third bar delta is exceedeing second on 50% and in fourth bar delta is exceeding third one for 25%. Take a look at screenshot attached. The setup started to forming at 17:15 bar. Pay attention to Delta row and it's deleopment on bars 17:20, 17:25 and 17:30. It was RTH opening. So such a surge already could invesage strong down move. Though I played long from 168 exactly on the next bar (reaction on OVN day low and LVN according my plan), delta surge setup could be played later. We see the orderflow has been stuck exacly on the level of the setup.

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If valuable reader wil have some questions I will be happy to answer.

So in conclusion,

What I did right today? I stick to original my plan.

What I did wrong today? I didn't have Plan B. I moved take profits again on FX trading and didn't make money though my FX trades has been targeted and never potentially stopped.

How I could improve? Aleways have two plans. One for longs, one for shorts. And again... Sit on my hands until take profits. They are not wide so I need to learn to take at least those small bites becuase otherwise my bite is too small and when the time of stop will come (it's inevitable in trading) it will eat all my trading "lunch" for several days.

Tomorrow is NFP day... Let's see what it wil bring for us...

Bite small, run fast!
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