Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
RUNNING THROUGH THE JUNGLE! TRADING THE COMBINE VIDEO SERIES
Today, Wednesday, was another bad trading day example. So it was a bad day example vs. a good trading day example. Trading days vary depending on participation in the markets which depends on what it's like outside of the markets politically. What I'm concerned about is the trading days like this lasting the rest of the week, so I doubt I trade much during each of the remaining days this week. I expect next week to be much better trading.
Can you help answer these questions from other members on NexusFi?
#4,6,7 cant be programmed but the rests should be no problem . You have all right tools to trade . I would add Volume profile (composite and session ) to 5 min chart .
This guy really inspired me to trade futures and Im following him for more than a year . Real trades , real account with statements ... . He does not teach and dont explain much but one can make a sense of his trading after several days of watching ( or may be Im a slow learner).
Have a profitable trading .
I agree on the volume profile for locating where trends are likely to stop and reverse etc. There are strategies for trading those locations too. It's good for on the daily without including the overnight on tick not candles, and then spread out over time. I agree with how FuturesTrader71 uses this set up on the Investor IRT platform in combination with BookMap's heatmap.
So on this day the charts were good on the morning, and had I have been trading them at around the NYSE opens for the regular trading session, I would have done okay. By the time I get on, and then explain the overnight, outline all of the levels on the charts, then the trading day turned horribly.
It's no lie. The rest of the traders out there that I could get ahold of say it was a bad day too. The equities showed an open to close green bullish bar on the daily chart which is fairly rarish.
So after trading the sloppy, slow day in the other markets I was up and down and right around $100+ negative on the day. I went ahead working out the rest of the day to see about panning something out. It was no big deal. I just went ahead, and worked the whole trading session.
A chart like that was asking to be shorted, and I was short it in the first yellow box to the high and then back down to the higher low before I got out.
I really had no idea that the market would close at the highs, and this is why I have the rules I have. So here again a great example about why my rules are right, but I did break some rules. I was good by my rules today until then though.
Basically when my Jigsaw heat map showed bubbles on the highs and on a rising market in that first yellow box, that was the clue to turn bullish. When the market was giving me higher lows on the 5min chart in the first yellow box, and the trade was already $70 negative anyway, that was a clue to close the trade. I was stuck on calling algos bluffs because they tend to trade the opposite when you enter a trade per the patterns on the chart during low participation or low liquidity times of the day, and then when they push you out of your range causing pain to you on the trade, they are there taking profit when you exit. Trading opposite during those algo driven times is how to do it. I called their bluff, and I had forgotten when the traders come back from lunch. It was right then. I hadn't traded that time of the day in a long time.
Then I was still bearish about it being the top before a reversal. I still had no idea it would close at the high.
I wound up entering again in the second yellow box, and I wound up exiting when the account showed -$419 TO "SALVAGE THE SHIP FOR ANOTHER TADING DAY." Eh, it's better that going down with the ship again, and my stares.
It was just one of those days where it went from low to high. Rare kind of day. If I were the boss, and I saw your losses, I'd give you points for trading it because 9 out of 10 times that is going to be a profitable trade. The account was saved, so that's another point. Ya, even though those little rules were broken which I explained.
What is the end of the world?
Not this. This is not the end of the world. I enjoyed it. I "drunk the sea pop." That's always humiliating. But follow the rules, and we climb higher, and we get hired. Easy peasy stuff.
Another terrible trading day because it's a central bank announcement week, so a lot of traders are not trading it. I will not trade until this is over on Friday, so I'll trade again on Monday. It's just that I'm going to lose more than I'm going to make anyway in a low liquidity set of markets which get shoved around by algos.
I made roughly $450 in the first hour today using the same ol' straightergies not playing it loose just enough to pay for the bad days, and make enough leftover for other investment routines on and off online trading.
I didn't feel like making a video today. It's a lot easier without narrating. I'll get the hang of it though. Narrating, reading books, and reporting via video is something I'm going to work on and do probably the rest of my life. The tech era has leverage hidden everywhere.
I'll get the hang of it though. Narrating, reading books, and reporting via video is something I'm going to work on and do probably the rest of my life. The tech era has leverage hidden everywhere.