For exits, look into measured moves and just get out when you are with <some threshold> of them. Second, use weekly/monthly pivots. Then don't have regret for taking ur profits. You can also try looking to get out on price spikes when RSI goes overbought.
AutoTrading Micro NQ and ES
- Thread starter rolan
- Start date
For exits, look into measured moves and just get out when you are with <some threshold> of them. Second, use weekly/monthly pivots. Then don't have regret for taking ur profits. You can also try looking to get out on price spikes when RSI goes overbought.
Ugggggg. Indicators? Bugger off mate! My best indicator is my eyeball, because when that indicator does me wrong, I can poke it and it hurts. This way that indicator will not do that again.
Ugggggg. Indicators? Bugger off mate! My best indicator is my eyeball, because when that indicator does me wrong, I can poke it and it hurts. This way that indicator will not do that again.
Yeah I don't use indicators, but I DO use distance from a EMA to ball park some take profits. Same idea.
$24,873 in profits for December 2021. My goal is to make at least $1000/day, which has seemed achievable to me without taking huge positions.
I thought the last day of the year would rally, so I got careless and overloaded on MNQ contracts. Now I am down 9k on 56 contracts of MNQ. I wanted to make it to 350K, and possibly doubling my account since July.
Account is up 133% for 2021 from beginning balance of $136,740. I did make 20K in contributions, mostly in first half of year, so current balance is higher at $336,287 according to December account statement.
I closed out my treasury futures position for a $700 loss. The most I was up was about $300. I am going to stop trading it because the contract size is just too big for my liking. It has also distracted me from focusing on MNQ and MES.
Current Holdings:
I thought the last day of the year would rally, so I got careless and overloaded on MNQ contracts. Now I am down 9k on 56 contracts of MNQ. I wanted to make it to 350K, and possibly doubling my account since July.
Account is up 133% for 2021 from beginning balance of $136,740. I did make 20K in contributions, mostly in first half of year, so current balance is higher at $336,287 according to December account statement.
I closed out my treasury futures position for a $700 loss. The most I was up was about $300. I am going to stop trading it because the contract size is just too big for my liking. It has also distracted me from focusing on MNQ and MES.
Current Holdings:
Love it. Do you need those large drawdowns to make these profits or are you just being a greedy gus?
Hi nooby_mcnoob, my recent 60k draw down in December was about 4 times I estimate I would have experienced trading “conservatively” to average $1,000 a day. So yeah, the DD would have still been about 15-20K.
I am getting better at recognizing when markets are breaking down for real, and pulling the trigger short while long MES and MNQ. I just don’t have the time to watch the markets closely all the time. Basically, when I see the ES or NQ starting to go negative on the day and hitting new lows on increased momentum, I look to go short ES or NQ if I have full contract size on MES and MNQ. I don’t add though, and typically will take smallish profits if I can and reenter.
Why wouldn't you trade 5 full NQ, save lot of commissions.
Hi mervyn, I am afraid of the leverage offered on a full contract. Even more than 10 MNQ contracts gets me wondering, "Am I trading too big"? I have no business holding 56 contracts. I just pray that the trading gods show mercy on me when markets open.
I'll trade the short side using 1 ES or NQ contract when I can to hedge my longs, but will typically use a stop to limit losses to a few hundred. While I realize they do add up, I don't look at commissions too closely as long as I'm making decent profits.
I'll trade the short side using 1 ES or NQ contract when I can to hedge my longs, but will typically use a stop to limit losses to a few hundred. While I realize they do add up, I don't look at commissions too closely as long as I'm making decent profits.