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it was a shame with the first trade that i open first double countract earlier and had to compensate to 6 in a drawdown. 4 of them i closed in a profit and the pullpack hit my stoploss, so i was not able to make enought profit from the falling price with other 2.
400 usd is not bad in 1/2 hour, but as i see how i fucked up the first trade, i have to do some introspection now
Can you help answer these questions from other members on NexusFi?
last trade that i took today. timing entry based on orderflow gradation.
i took a drawdown but regarded to today´s volatility it was ok. i opened three contracts and if the price had done another breakout validating low risk entry, i would have opened other three
Lately I've been heavily focused on the 10 and 30 year T bills. It seems as if the equities indexes want to follow their overnight moves(t bills). We get a sell off in the overseas markets for 10 and 30 year treasury bonds. And later on in the day the equities markets sell off sharply. This has happened twice this week.
all markets are correlated in a way. the point is that the correlation is not always linear, so it is complicated to perceive it, or to calculate it
i work with 4 markets only - us indexes: ES, YM, NQ, EMD - these four are linearly correlated a lot. mostly YM and ES - they are like brother and sister. but ES is too introvert to me, that is why i dont trade it now. my trading approach is partly based on (dis)correlation of these four markets
i prefer clicking into NQ because it is the most extrovert market from all the four, the volume traded is just enought for orderflow reading and the volatility is better, compared to YM. but i dont have any problems to click into YM, when an opportunity comes.
i have a stimullating relationship with both NQ and YM - they are very close friends, and we know a lot about each other :-)
it ended up well, but the opened risk (drawdown) was too high compared to profit i took. this is how it should not look like
i wanted to take a trade because i didnt have one for a long time (holiday break:-)), thus i kind of forced myself to take something & i really "believed" that nq should fall, so i was quite stubborn and held it over the drawdown.
this is a clear example of breaking moneymanagement rules and if i took a stoploss there, i would be really angry at myself -
how to lose 920 usd within couple of minutes due to internet problem. maybe i will not trade in a park on unsecured wifi anymore.. today is a really "unique" day for me
because of yesterday loss i was really picky today and waited for a perfect entry setup + i opened with smaller position (4 contracts only) + closed it in a fixed trademanagement. no experimenting
