NexusFi: Find Your Edge


Home Menu

 





The Quick & The Dead: Day Trading NQ ES GC


Discussion in Trading Journals

Updated
    1. trending_up 3,366 views
    2. thumb_up 18 thanks given
    3. group 5 followers
    1. forum 23 posts
    2. attach_file 27 attachments




 
Search this Thread

The Quick & The Dead: Day Trading NQ ES GC

  #1 (permalink)
 EssDigs 
San Diego, CA, USA
 
Experience: None
Platform: Ninja, Bookmap, IRT, TOS
Trading: NQ, ES, GC
Posts: 25 since Jul 2013
Thanks Given: 27
Thanks Received: 17

It was my plan to share what I'm doing once I found my sanity...

Years later, the search goes on, so I figured what the heck - I'll start now and just brain dump here.

Tune in if you like to check out my attempt to trade NASDAQ, S&P & GOLD Futures.

Not sure what will make sense from the thoughts, questions, plans, charts, forecasts, setups, trades and hindsight looks into the madness of my day.

Feel free to throw tomatoes or cheer... whatever floats your boat.


OK, let's jump right in with Statistical Edge!

So with the NQ, historically there's a 97% chance (approximately) that during the RTH session price will break Initial Balance High or Low... I went for it a few times today.


After a 3 attempts with very tight stop outs, then this:



10:54AM - The IB was in and this time, on Entry (Executing on Bookmap) I was able to get above the VPOC where I began a very tight trail (no faith at this level after taking a few slaps minutes earlier).

10:56AM - the Bulls ran into some decent Liquid right above the Century figure and it was Absorbed. (Pink squares) I had decent breathing room by now on the trailing stop -- the pullback was shallow and brief (always a no-no for entry on the NQ), then real-time Volume kicks in and without hesitation, I scale in 2 more units!

Major Buy Volume fires off but uh-oh... look out below, considerable Buy Stops fire at the same time Bearish Ice (-Ice)! A trap!!

Although the IB High was the intended target, the loaded up Liquidity before it I did not trust and had the plan to front run it at the first signs of exhaustion. So it happens: first signs of Red (Realtime Bear Volume), I dump everything... No runner, but eh... I was happy: +45pts?

Then we see the bears come in... I don't know; whatever.



11:04AM - Now above the Century...




and inside of a StalkZone ( grey zone from 103-120 that I drew last night), Cumulative Volume Delta is rising (slightly); a nice string of Buying Volume; the tape is green! 17, 44 21 contracts hit.. Buy Volume on the screen, I believe it will surpass the IB High..

I Bid it - fast! Again with the super tight stop I am taken out quickly. <Errr> Thought it was going to go!

Aggressively, In under a minute, I jump in again with manual stop ready below the prior congestion... The Buy Volume comes in AGAIN with the Buy Stops and Selling Ice... this is Absorbed as we hit the IB High.. and I am ready... first sign of weakness and I am out! Pretty luck to catch the top. As you see it goes sideways right after this (Where the Algo's Play).

I then take a lap to deal with all of the adrenaline.


Transparency - yeah, I took more NQ trades later.. and some draw down, too painful to illustrate. But yeah, at least I'm telling you.

ES - I did (pre-market) call some key entry levels and targets that played out.. eh, but who cares... I didn't trade em,

GC - Did Nothing.


That's all of the madness for now.



Notes:

Bookmap - best way to see Real-Time Volume, hands-down.

StalkZone - term created by FT71: levels are daily updated trade decision zones (proprietary for Convergent Traders) where market engagement is expected to take place.

Attached Thumbnails
Click image for larger version

Name:	NQ Long_ IBH-break attempt 02.24.PNG
Views:	135
Size:	345.2 KB
ID:	309891  
Started this thread Reply With Quote

Can you help answer these questions
from other members on NexusFi?
Are there any eval firms that allow you to sink to your …
Traders Hideout
NT7 Indicator Script Troubleshooting - Camarilla Pivots
NinjaTrader
Better Renko Gaps
The Elite Circle
ZombieSqueeze
Platforms and Indicators
NexusFi Journal Challenge - April 2024
Feedback and Announcements
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Get funded firms 2023/2024 - Any recommendations or word …
59 thanks
Funded Trader platforms
36 thanks
NexusFi site changelog and issues/problem reporting
22 thanks
The Program
20 thanks
GFIs1 1 DAX trade per day journal
19 thanks
  #2 (permalink)
 EssDigs 
San Diego, CA, USA
 
Experience: None
Platform: Ninja, Bookmap, IRT, TOS
Trading: NQ, ES, GC
Posts: 25 since Jul 2013
Thanks Given: 27
Thanks Received: 17

Got up (almost on time), no coffee... and trying to prep for:
Thursdays numbers!


Numbers 02.25


Golds initial reaction - a rapid short.

I'll spare you my NT8 minute chare (boring!)


GC _Initial Jobs 02.25


...Bookmap - i see the Stalkzone's (SZ's) have played out with Bearish Stop Runs - On the Pullback (pb) - we can see there is bearish Ice (-Ice) forming.
After the Absorption at 1781.9 and a some Selling Volume comes in I take 1781 with the hopes we will revisit the range and check out the resting Liquid in the 1776's.

But the conflicting numbers.. I do as usual (Trail tightly), and scoop a quick 18ticks.

[didn't pay attention to my Tape!]

Anyway, Not a bad start of the day.



Now with OverNight Inventories leaning Risk-OFF, i am next looking primarily to Short some NQ / ES levels

Started this thread Reply With Quote
Thanked by:
  #3 (permalink)
 EssDigs 
San Diego, CA, USA
 
Experience: None
Platform: Ninja, Bookmap, IRT, TOS
Trading: NQ, ES, GC
Posts: 25 since Jul 2013
Thanks Given: 27
Thanks Received: 17


ES Open long scale out 02.25


took on with the Bulls @ 3910, scaling out 1 unit for 2.25pt (at former VPOC)... as I trailed tightly..
6pts on 2nd unit

[Bookmap - notice the rising Bullish Ice ]

3917 is a Sell level for me, so I bailed on the 3rd unit aver a few Bears step in.

(decision making: Heavy reliance on Levels from homework and Real-Time Volume)

Started this thread Reply With Quote
Thanked by:
  #4 (permalink)
 
DavidHP's Avatar
 DavidHP 
Isla Mujeres, MX
Legendary Market Wizard
 
Experience: Advanced
Platform: NinjaTrader
Broker: Ninjatrader / Optimus Futures / AmpFutures
Trading: ES / 6E / 6B / CL
Frequency: Every few days
Duration: Minutes
Posts: 1,609 since Aug 2009
Thanks Given: 11,328
Thanks Received: 2,743

I'm trying not to be too critical here but how can you see anything from those charts?

SOOOO busy it is hard to see price or know what all the noise means.
I'd have brain freeze and never take a trade.

(again, not criticizing your method, just my take on what I see)

Rejoice in the Thunderstorms of Life . . .
Knowing it's not about Clouds or Wind. . .
But Learning to Dance in the Rain ! ! !
Follow me on Twitter Reply With Quote
  #5 (permalink)
 EssDigs 
San Diego, CA, USA
 
Experience: None
Platform: Ninja, Bookmap, IRT, TOS
Trading: NQ, ES, GC
Posts: 25 since Jul 2013
Thanks Given: 27
Thanks Received: 17

NQ SHORT!!

I've been missing the best setups... mainly due to MeatHeadism.... ( I've heard there's a cure) Why?

My Homework was pretty darn good but I missed the entries and chased.

No more chasing!! Please remind me: "NO MORE CHASING...NO MORE CHASING"

In any event, some small losses and small wins and some decent size wins so far for the morning session..

And oh, ya gotta love when Rithmic cuts out for the the upteenth time right in the middle of your execution.

Latency plus Late to the Sale... I missed a lot here but overall up on the day in NQ pts.



NQ pickin bottoms 02.25


As you can see in the Bookmap Cloud Note, I have 1VolaSigma marked (Proprietary from Convergent Trading ). In short a volatility based standard deviation of range. And below that, a Micro Composite High Volume Node (MCHVN), and this I then see as a magnet area (price will be attracted to it). Thus my Long here was very aggressive.. The -Stop (taken as a head fake) plus +Ice; and length of the rotation and double test was my cause for action.


[Note: the definitions are for anyone who's not yet in the know.]

Then the Rithmic connection conundrum ... No choice - I bailed for 9.75pts. Lucky again.

Anywayz.. got all three markets in and up for the morning session.
Lunch... need to walk away from this till the End of the Day (EOD)... ponder the meaning of life in the meantime, maybe cut some toenails.

Started this thread Reply With Quote
Thanked by:
  #6 (permalink)
 
matthew28's Avatar
 matthew28 
United Kingdom
 
Experience: Beginner
Platform: Bookmap
Broker: Stage 5, Rithmic
Trading: US Equity Index Futures
Posts: 1,250 since Sep 2013
Thanks Given: 3,500
Thanks Received: 2,532


EssDigs View Post

I've been missing the best setups... mainly due to MeatHeatism.... ( I've heard there's a cure) Why?

Hi. Curious what MeatHeatism is? I Googled it and there was nothing

You do not win as a trader, you just get to play again the next day. If that game doesn’t appeal to you then you should not trade. Gary Norden
Reply With Quote
Thanked by:
  #7 (permalink)
 EssDigs 
San Diego, CA, USA
 
Experience: None
Platform: Ninja, Bookmap, IRT, TOS
Trading: NQ, ES, GC
Posts: 25 since Jul 2013
Thanks Given: 27
Thanks Received: 17


matthew28 View Post
Hi. Curious what MeatHeatism is? I Googled it and there was nothing

It was a joke and you alerted me to the typo...

corrected: "Meatheadism"

Meat-head-ism; the distinctive practice of being a Meat Head; regularly unwise

Started this thread Reply With Quote
Thanked by:
  #8 (permalink)
 EssDigs 
San Diego, CA, USA
 
Experience: None
Platform: Ninja, Bookmap, IRT, TOS
Trading: NQ, ES, GC
Posts: 25 since Jul 2013
Thanks Given: 27
Thanks Received: 17


DavidHP View Post
I'm trying not to be too critical here but how can you see anything from those charts?

SOOOO busy it is hard to see price or know what all the noise means.
I'd have brain freeze and never take a trade.

(again, not criticizing your method, just my take on what I see)

David

I totally agree! You should see my IRT charts... geez!

For me, initially it was the same "this is toooo busy" But after a while you apportion your greater attention to what's needed 'at the specific time'

Think about the last time you flew an as you were boarding, you peeked into the cockpit: ALL THOSE DIALS! It always baffles me.

But what happens to the pilot (like the trader) after a certain amount of screen time with a platform, you filter out what's unnecessary until you need it.

That said, I still forget to check in with my Tape!!

Started this thread Reply With Quote
Thanked by:
  #9 (permalink)
 EssDigs 
San Diego, CA, USA
 
Experience: None
Platform: Ninja, Bookmap, IRT, TOS
Trading: NQ, ES, GC
Posts: 25 since Jul 2013
Thanks Given: 27
Thanks Received: 17

Anticipated a choppy open today, yet still I did not act in accordance to it.


ES Open Chop upside test 02.26


Took on a few attempts to the upside as I intended to get 3845 if we are able to stay above 3834....

Got banged around then made it and profits came back to positive..

Missed my NQ short putzin' around with charts and dealing with latency (AGAIN) with Rithmic (heard it was not just me)!


the late set up was short lived:

NQH1.CME@RITHMIC_screenshot_20210226_154339_307


VIX is dropping and we are now on the move back towards the IB High

[ now I cannot even get Rithmic to restart... Ninja on CQG & TOS to the rescue ]


It's Friday and being up 32pts (ES trades), It seems wise to call it a day

Started this thread Reply With Quote
  #10 (permalink)
 EssDigs 
San Diego, CA, USA
 
Experience: None
Platform: Ninja, Bookmap, IRT, TOS
Trading: NQ, ES, GC
Posts: 25 since Jul 2013
Thanks Given: 27
Thanks Received: 17


Gold continues to be weak....

I was in no position to take the trade (tech issues, etc), and glad I didn't


GC Bulls Defense 02.26



caught in data drama.. checking back in its now this:



GC Bulls Lose 02.26


That Bullish Defense was short lived (I dodged a bullet).
The 1727's could not hold and Buyers are now sought some where below

Started this thread Reply With Quote




Last Updated on April 1, 2021


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts