Going Toe to Toe with the MNQ... - futures io
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Going Toe to Toe with the MNQ...


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Going Toe to Toe with the MNQ...

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  #1 (permalink)
 Sandpaddict 
Langley
 
Experience: Intermediate
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I started this as a dedicated MNQ/NQ journal.

I have been trading the S&Ps for years but tested trading the MNQ recently and have been live for about a week now.

In the S&P I find myself the proverbial "frog in boing water".

I love the SPEED and DISTANCE the MNQ can travel as it provides feedback quickly.

And it's a scalers delight.

My next goal is pulling some decent PROFITS out of my account for the first time ever!

Hopefully I can get there riding the MNQ!

Will keep posting screenshots of daily trades and totals. This is today.

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  #2 (permalink)
 Blue Eagle 
Legendary Market Wizard
vancouver British Columbia/Canada
 
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Well well well... shit's about to get real. Look forward to seeing how things go...will be rooting for you.

Craig

We all have two lives...the second one starts when we realize...we only have one.
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  #3 (permalink)
 Sandpaddict 
Langley
 
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Round #2 Winner: MNQ -$1831

Yeup. Took a beating. Lol. This opponent moves quickly. Ducks, sideswipes, lands multiple shots quick succession then recedes just as fast.

Not just that, it can deliver blows on par with the best of the best.

I love it... but I let my guard down.

A) Trading the MES and carrying positions overnight wasn't the norm but wasn't out of the ordinary either.

I was carring only 2 MNQ positions and woke up to -$740 loss. Now I know anythings possible but 2 is a no no. *I'll probably allow 1 if the market looks right.

B) I honestly don't know why, but I started using stops again. (Probably the shock of seeing my account down so much and being scared to take risks?)

I haven't done that in weeks! Today I stopped in and stopped out. That's the way I used to think you were "supposed to trade".

C) I also have multiple full position reversals!?!! Where the HELL did those come from?

Back to what made me start to turn the corner in the first place...

Practice the PATIENCE to NOT stop out at stupid areas. It'll come back! If not then WAIT for a retracement.

Practice the DISCIPLINE... to stick to the PATIENCE part and wait for the right time to enter and exit. Don't just set a stop and hope! That is just stupid and this is what happens.

Thats OK... shake it off and head back in for the next round.

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 Sandpaddict 
Langley
 
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Science has proven witing something down improves memory as it activates different parts of the brain. (Plus it's social pressure as I wrote it publicly)

So for TODAY remember what I wrote YESTERDAY!

DON'T STOP OUT!

Stop in on retracement sure but don't STOP out. You do that out if FEAR and it's guaranteeing loses!

PRACTICE the DISCIPLINE to have the PATIENCE to do the right thing...

And usually thats to WAIT!!!!

Good luck self!!!

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 Sandpaddict 
Langley
 
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Picture says it ALL...Patience is the only thing thats going to win you this game!

You have MAX of three contracts now. Use them wisely.

Hold on. Don't do anything stupid. Minimize damage but hold ON!!!

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  #6 (permalink)
 Sandpaddict 
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8:30 PST down over $800 in open profits. This is the way it has to be. I'm on the wrong side. (Again damn it!) I'm going to be there around %50 of the time so manage and dont panic.
.

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  #7 (permalink)
 Sandpaddict 
Langley
 
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Hey thanks for following @FuManChou! Makes me feel not so alone.

Hope all is well!

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  #8 (permalink)
 FuManChou 
Saint Paul, Minnesota, United States
 
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Sandpaddict View Post
Hey thanks for following @FuManChou! Makes me feel not so alone.

Hope all is well!

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No problem. I like it when journals include pictures. Happy Trading!!!!!

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  #9 (permalink)
 Sandpaddict 
Langley
 
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FuManChou View Post
No problem. I like it when journals include pictures. Happy Trading!!!!!

Ya I find it has more emotional impact than a few triangles on a screen. Like this...



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  #10 (permalink)
FuturesDayTrading
Columbia, MO
 
 
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I trade the NQ exclusively. Volume Profile and Cumulative Delta, coupled with basic technical analysis, is the way to trade this thing. At least it's worked for me.

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