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)
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.
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
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.
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!!