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)
Pre market time
Comment: Today my first trading day in this year!
Trading Idea:
CL: "GAP and GO". Short around 63,0. LIS 63,0
NQ: "Lg. Close VWAP" Buy around 8850. LIS 8845,0
6B: "Lg Close VWAP" Buy around 1,3140 LIS O/N low
Market recap
Daily comment: WOW. That is great first trading day! My idea was perfect! But in 6B I has stop, this is my error! Because I see on Ransquawk news about Brexit news! I must be more careful with news!
Trading result:
Can you help answer these questions from other members on NexusFi?
Daily comment: After strange O/N session I don`t will be trade today! That is not my game!
My trading process:
Like I wrote in my last post for journal 2019 my trading process consists of three parts and today I want write about first one.
Trading idea (part 1):
Main task for this part of my trading process , it find instrument where buyers or sellers have strong power momentum.
Rules:
1. If price stay in range more then three days, that means for me don`t touch it. Wait and look how I can use "GAP and GO" strategy.
2. Second day in play. This is famous strategy in stocks after same strong report or news. In futures can be same! Wait strong buyers/sellers 1-st day and after this day try to find trade in same direction! If first day it reverse day, during second day I can hold position for 30-50 ticks (look ATR, delta, volume).
Example:Today great example on Natural Gas. Price stay in range 2,100-2,180 more then three days! That means don`t touch NG until price go out from this range.
Pre market plan:
CL: "Sh.Close VWAP" LIS 58,70
Also I have idea about NQ, but market situation not good. May be before market open situation will be clear.
Market recap
Daily comment: I made one scalp trade before US market open. Close because think what usually if price around day high/low after open market can show impulse up and made new high. But price continue go down and don`t give me chance take one more trade.
Pre market plan
NQ: "GAP and GO". This is 50/50 idea and don`t strong idea, but yesterday I see how work sellers and today I think we can see new low under 9040. I will be look to sell around 9070 or after market accept new low.
Additional info about Trade Idea:
Yesterday I see good support from buyers in GC. And today price test yday high and fly away! Today I see same situation on 6E. Name this is situation "Delta divergence".
Price hold above average daily price, BUT delta is negative. If price stay above VWAP today, tomorrow I will be look to buy momentum in 6E.
Market recap
Daily comment: Uhhhh. That was stupid day which start with stupid pre market plan! But it good lesson for me (but very expensive). I MUST have Trade Idea patterns like for Strategy and Order Flow. I did this error second time! I try to trade NOT strong idea! Also I`m understand what rules about MM, RM work good only when you have strong idea+ strong strategy! I`m understand this lesson!
Pre market plan:
6E: New strategy. Yday was good support day with delta divergence. Like in post before. I would be buy 6E, but I don`t know exactly name and rule for this strategy, because price open in yday range and name for this situation I don`t know.
Market recap:
Daily comment: Next lose day! But this is normal day! My RM is work. Because I`am understand what I wait and what I do. No problem, today Risk ON day on news about deal. But I must work better about my strategy.
Daily comment:
I`m don`t trade today. Because two lose day, that means I do something wrong! I must work much much better with my Trade Idea. Also before start trade I must exactly understand where will my active price area where I will be enter to trade.
Trade Idea patterns:
1. Strong buy /sell day:
Rules:
- Price must be go in one direction in step by step mode.
- VWAP can be support with small depth.
- Lower low and Higher height rule!
- Price must be close above/under "First hour height/low"
2. Crazy buy or sell off days:
Rules:
- Price open above/under VWAP.
- During session price does not touch VWAP.
- Price move with small range area and continue move in main direction.
3. Delta divergence days:
Rules:
- Price stay in range
- Total daily delta show divergence with price
- VWAP looks like support/resistance area
Additional things: I must work about completely Trading system. I must look which strategy work better with Trade Idea. That means I must have strong system Trade Idea + Strategy.
Description: After trading when I try to trade Euro, I don`t has clear rules for this trades! Because I have strategy "Gap and GO", but in this strategy main rule what price must open above yday high. But many times when price open in yday range, test same price area (find buyers) and continue go higher. Now I`m prepare new strategy "Test and GO".
"Test and GO" strategy
Rules:
1. Before trading I must prepare 1-2 Buy/Sell area !
2. Don`t touch bellow/above yday average price (average price can be VWAP or 50% Fibo)
3. If price go bellow/above yday range that means I can be wrong and buyers/sellers don`t have enough power. I must cancel my idea.
IMPORTANT!
BEFORE EACH TRADING SESSION I MUST WRITE:
"TRADE IDEA" pattern + Strategy.
Pre market time:
Trade idea: Yday during US session buyers stop price fail and show small buy back. Today I`m wait continue move higher after open.
CL: "Lg. Close VWAP". Buy around 55,20 and take around 55,50
Market recap
Daily comment: After strong sell open on CL I`m cancel my idea to buy back. I look first 30 min on CL and understand what it strong sell off, that means Dow can show same good sell impulse. I was correct! I take one trade in YM and out from market. Week done! Trading result
