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)
so here is how I did it this morning .. starting at 6:15AM Arizona time
thinking the price could break in either direction
using a 2-minute chart for most indicators but have a second (invisible) database set at 6 minutes that I use for the moving averages
drew boxes at 1) the overnight (GLOBEX) high .. 2) the overnight (GLOBEX) low .. 3) the pre-US market high
.. don't draw these normally because the Supply/Deman indicator by Infinity does a pretty good job of doing it for me ..
drew a trendline for the pre-US market trading .. a downtrend .. but wasn't sure if was the start of a new downtrend or part of a BULL-Flag pattern
strategy was enabled and buttons were visible .. got burned a couple of times this week so lowered my risk-to-reward ratio
clicked the BUY button as soon as saw the momentum to the up-side .. 1-contract .. 1-trade .. 60 ticks .. across 3+1 accounts
think the YouTuber I watch made 40-50 points .. 160-200 ticks
done in less than 4 minutes
23 09 08 NQ.fw
.. you don't have to be the first one at the party .. just be part of the party ..
When did you get in? Did you get in and then hold the red candles after 6:20 or did you get in after the pull back @6:30?
9.08.2023 : $333.67
Solid day for me, still giving in to my expectations and not letting the market tell me what to do though. I had two short trades, around +13 ticks, but decided to hold on till around -13 ticks. I completely ignored my main trend indicator, "60 ema". There is always a chance it could bounce, either way, I should of gotten out. I had my base hit play, I shouldn't leave it to chance that it would breakdown even more. Luckily, a few candles later I encountered a similar play. I got out of my short and went long on the 60 ema bounce.
If I choose to go against the main trend, I need to size small.
looking at this morning using BetterRenko chart instead of a minute chart
about midnight Arizona time the NQ started a downtrend that continued till about 3 AM .. which can be seen in the trend channel .. then the price action started getting confusing .. Lower-Low at 3:12 AM was followed by Higher-High at 4:15 AM .. and that was followed by another Lower-Low at 4:43 AM .. (larger circle)
but wait .. there were 3 Lower Lows at about the same level .. maybe not enough to trigger the indicator .. but should be enough to catch your attention .. AND there was a Higher High sandwiched between them
hmm, maybe it is showing us a double (triple??) bottom .. and double/triple bottoms are usually good for a strong reversal ..
after the third Lower Low the price broke out of the trend channel to the upside and set a Higher-High in the 1-hour period before the US Market opened .. with a pullback just before the market opened ..
so here is what I was asking myself .. is the reversal going to be part of a continuation of the downtrend with just a price offset (smaller circle) .. or is this reversal part of a Bull Flag
depending on momentum
.. if the price broke to the upside and went past the pre-market high then it seemed reasonable to think it would go to the GLOBEX high
.. if the price broke to the downside then it seemed reasonable to think it would go to the GLOBEX low
the price did break to the upside and went past the pre-market high of 15298 at about 6:31 AM and that is when I entered the trade .. a 60-tick profit was achieved in about 90 seconds..
when the price broke to the upside it "broke" a supply zone created at about 1:20 AM .. there wasn't another zone till 15323 .. some 25 points (100 ticks) away
I showed this to you on 21-Renko chart but I traded the 2-minute chart ..
did this answer your question?? (almost) always wait for a pull-back
23 09 08b NQ.fw
.. you don't have to be the first one at the party .. just be part of the party ..
got up early .. looked for the trend .. looked for where the price might go .. and drew the boxes ..see 23 09 11a
thought there might be a GAP FILL down tow 15510 but the price has not reached that level as of this posting
still being conservative on my profit target ..
results for today .. 2 trades .. 7.5 points // 30 ticks per trade .. 3+1 accounts .. @bcomas' AccountEquityGuard disabled the strategy(buttons) .. so I'm done for the day .. NO CHEATING
done in less than 15 minutes .. see 23 09 11b
23 09 11a NQ.fw
23 09 11b NQ.fw
.. you don't have to be the first one at the party .. just be part of the party ..
I traded on SIM today, I'm still figuring out my rules.
I had set a 7 loss max via GAT addon, and it go hit. I did give back gains today, a few green went to red ... Oh well. I stopped to reinforce discipline, no cheating! There is always tomorrow. I didn't touch my S/L today either.
Another red day, but I was able to gain some insight about myself. I overtraded today... I had some nice winners, but I got chopped up bouncing in and out of the trades. I hit my max loss of 7 around 1 hr after the market opened. I did remove my max loss restriction to continue trading until I hit my daily loss limit. After that, I took the red day and walk away.
So far, its been going well, still tweaking with my trading rules/system. Two more days of SIM, maybe it will turn around tomorrow.
Good Luck, tomorrow CPI news drops .. if I remember correctly
Today was the first day I took a red day on Apex evals and funded accounts and it was a small red day instead of account-blowing. Only took 2 years to get this far. Keep up the good work!
added my drawings to the NQ-15min chart .. had what I thought was an upper trading limit and a lower trading limit .. both zones were touched by the end of the day ..
at the open the NQ was at the bottom of a trend channel that started about midnight (AZ time) .. wasn't sure if the price would drop through the bottom or bounce up .. it bounced UP to the upper zone before getting back in the channel and going down to the lower zone .. but then price rose to the upper zone .. and then back down to the lower zone .. what a roller coaster ..
a lot of influence for the zones comes from the overnight (GLOBEX) high and low .. along with the Supply/Demand Zones drawn by Infinity's indicator .. using a 5-minute time frame (indicator can be on a 5-minute time frame irrespective of main chart timeframe or chart style) .. and then it is just a matter of drawing trendlines
over traded today .. had a period where account(s) were red .. but got them to green ..
23 09 12a15 NQ.fw
.. you don't have to be the first one at the party .. just be part of the party ..
wanted to add an image of NQ daily chart .. a resistance/support line that was formed in mid-June is still hanging tough .. we started the day as an inside day .. inside days are usually pretty choppy .. so today was not a surprise ..
NQ 12-23 (Daily) 2023_09_12 (2_58_48 PM)
.. you don't have to be the first one at the party .. just be part of the party ..
