el bastardo NQ

Tried my hand at trading the German Dax today.
5 winners, 5 losers, but i'm up 20 points.
Lets see how the NQ does for me today.

Does anyone here belong to any good chat rooms? Either paid or free.
I think that If I could 'sit' next too an expert trader who could help me filter out some of my bad trades ''Don't short here, Apprentice, because...'' then I could potential have a good crack at this trading game!
 
got burned twice already trying to long on what I thought was a break of the supply line. -5.75 and -2.75
Was also very tempted to get long nearly straight after the open as the tape looked bullish, which would have been a nice trade, but I couldn't see a set-up that I liked.
Tough so far...
 

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theapprentice said:
Does anyone here belong to any good chat rooms? Either paid or free.
I think that If I could 'sit' next too an expert trader who could help me filter out some of my bad trades ''Don't short here, Apprentice, because...'' then I could potential have a good crack at this trading game!
More...

In my opinion, in a "good" chat room (a chat room with disciplined consistently profitable traders), I doubt anyone would say "don't do this or that, Apprentice". They'd more likely say things like, "We're approaching a key support level. I'll be looking to go long if a 1-2-3 sets up on the 1-min" or "That was a strong breakout; I got a buy order a couple ticks above previous resistance" or "I'm not trading here because there's no clear level to limit risk", or "cup and handle on the 5-min", etc.

I've been in chat with traders calling what I believe are absolutely ridiculous trades and making fine profits from them. Who am I to decide the validity of another trader's decisions?
 
Nuts day. From reading around, looks like everyone found it tough.
I was down about 20 points at one point which is the biggest daily drawdown i've had since staring the journal.
Somehow managed to fight back to around B/E on the day, so i'll consider that a victory!
 

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little loser out of the gate. Bought the breakout, but bought teh high tick, lol
-3.25
On to the next trade
 

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NQ is a mean reverting instrument, albeit not as much as the ES. Trading the breakouts in NQ is a bit different from stocks. Do a search on Nodoji's breakout pullback method on this site. She's illustrated quite a few with bar by bar charts.

Schaefer
 
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