Feedback appreciated. My Journal Begins...

[Turveyd]

I'm out of my league here-and also no experience here- but- regardless- foot in mouth- I will simply add some hindsight learning commentary- is easier for us all when we have a picture of what HAS already occurred !
There are different ways of viewing charts- and even PA- Trending? sideways? Prevailing trend?
Ultimately, it's about gaining a small advantage in how the method benefits you. I prefer to take "With Trend" trades and try to hold on as long as the trend momentum keeps going- In your fast time frame - perhaps that might be 4-5 bars in a good trending period?
I cannot bring up NQ apparently on stockcharts- which is the charting site i use. If I could, i would try to add some ' training wheels' (no offense- I use them ) -or graphical representations of a slowed average of momentum.-of Just as a point of outside reference- and see if anything I say has any application- it can be useful (JUst my Opinion guys-Not a PA purist myself-never acquired the ability). I would clear my past chart of trend lines for starters, add a fast ema- play around with it- 3-4-5- and perhaps A slower ema may also coincide with the direction of the next higher time frame-say 20 or 30 ,50 As a small reaction in a fast time frame will be just a fart in the wind on a higher time frame. But it gives a sense whether price is trending on the higher time frame or is sideways. A follow up- I agree with TD as to having value aiding in the assessment.

A simple guide line graphic is price is trending as long as it is making higher highs and higher lows- many of your NQ bars are indecisive- a fast ema may be penetrated by a wick- but notice that a 'trend" can continue- more is important on the open and close and whether it holds above the trend line /ema-
EMA's are lagging indicators themselves- but they give a visual- idea- It seems the trend reversals are pretty sharp and fast on the minor trends- Once a bar fails to exceed a prior bar- get ready to swing around-.
A slower ema - also gives- a reference- if your best trades are taking With Trend and try to hold for 2-3-4 bars? or with limit sells higher in the order? My best trades are those I occasionally catch that i allow to run longer- If the trade is choppy, I tighten the stop closer- always try to keep a profitable trade a winning trade and not allow it to lose- Tough on the entry to do that though- got to give it some room.
As an exercise- try going back and determine- by the ema- if you were taking trades with the new trend or were getting in wrong- just a suggestion- change the emas-or smas and see if that would have changed your decisions to enter- or to sell and get the larger gain-
Another -"different"way of viewing what is really occurring in the major way is using RENKO bars- They are interesting
Because of the wide bar volatility- you would choose the HI-LO setting vs the Close setting- and a 1 minute bar period for the higher 5 minute time frame-
http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:renko-
Hmm -'lost' some of this stuff when I posted-"too many characters"-maybe it showed up as a partial post-
Out of time- quit rambling -summarize-
Your longer term trendline really had some nice pullbacks to it -5 of 6 -If you find these trend lines are valid, a buy-stop order waiting as price moves back to the trend line would give a nice early-low risk entry.
Tried to be constructive & objective- a different perspective of viewing the same chart may be instructional-
Sorry if repetitive- SD

Try the Symbol QQQ should be the Nasdaq 100 or $NDX.

It's a hard future to trade, doesn't run on enough for my likings very stop and start aswell, momentum doesn't work well at all.

 

[sowterdad]

Try the Symbol QQQ should be the Nasdaq 100 or $NDX.

It's a hard future to trade, doesn't run on enough for my likings very stop and start aswell, momentum doesn't work well at all.

"It's a hard future to trade, doesn't run on enough for my likings very stop and start aswell, momentum doesn't work well at all."- I didn't read far enough to see JS' follow up chart-

Thanks- for the suggestion-Not for me to trade-personally I was hoping I could chart some of what I was suggesting as a specific illustration- limited sector etf's are my focus-EOD /trades-when I get some consistency- I may venture into other arenas- some time down the road. I definitely prefer to venture in where the position gives multiple trending days- OF course, I'm not viewing those on a 5 minute chart either-
A question-if you don't mind total ignorance? what is the $$$ value of 2 points gain on a futures trade?
Is a 2 point gain the same net value across different futures- or does it vary on the underlying price level?
What are the commission costs typically? Just curious Thanks -SD

 

[Turveyd]

"It's a hard future to trade, doesn't run on enough for my likings very stop and start aswell, momentum doesn't work well at all."- I didn't read far enough to see JS' follow up chart-

Thanks- for the suggestion-Not for me to trade-personally I was hoping I could chart some of what I was suggesting as a specific illustration- limited sector etf's are my focus-EOD /trades-when I get some consistency- I may venture into other arenas- some time down the road. I definitely prefer to venture in where the position gives multiple trending days- OF course, I'm not viewing those on a 5 minute chart either-
A question-if you don't mind total ignorance? what is the $$$ value of 2 points gain on a futures trade?
Is a 2 point gain the same net value across different futures- or does it vary on the underlying price level?
What are the commission costs typically? Just curious Thanks -SD

It was aimed at JS

I trade Spot not futures so I can trade at any price, I think NQ is $12 per pt, YM $5 but it's been 10+ years since I had a expensive future account. No idea at all on commisions currently.

 

[sowterdad]

It was aimed at JS

I trade Spot not futures so I can trade at any price, I think NQ is $12 per pt, YM $5 but it's been 10+ years since I had a expensive future account. No idea at all on commisions currently.

I'm Learning a bit here-slowly - Spot meaning commodities markets? Looked up a definition and Spot also references currencies? Which do you favor? AGain, just curious- Thanks

 

[Turveyd]

I'm Learning a bit here-slowly - Spot meaning commodities markets? Looked up a definition and Spot also references currencies? Which do you favor? AGain, just curious- Thanks

Spot is cheap and cheerful, Forex broker, which also lets me trade a few CFD's, I can trade from 10cents per pip to $100 per pip.

GBPAUD is about the only 1 worth trading these days, Forex used to be wild but these days it's pretty much random chop, picking up a bit recently though.

 

[sowterdad]

Spot is cheap and cheerful, Forex broker, which also lets me trade a few CFD's, I can trade from 10cents per pip to $100 per pip.

GBPAUD is about the only 1 worth trading these days, Forex used to be wild but these days it's pretty much random chop, picking up a bit recently though.

Thanks-Illustrates how very unaware i am of the many things available...LOL!

 

[jsmacksem]

4Nov Hindsight look.

Some signals I saw. In hindsight. It seems with NQ there is very often a Pre Mkt trendline that is very important usually left over from prior day's trading.

 

[jsmacksem]

5 NOV prep.

Daily uptrend broke with yesterday's low. Could revert to mean of uptrend channel. Something to keep in mind. Not in one day of coarse. But ya never know.

Prepped some charts, move this line there yada yada.

I'm ready to do well tomorrow morning.

Up early, head cleared, follow price, identify signal, enter, manage, exit.

Trading zone in yellow, has been an area of S and R back and forth for a while now.

 

[Turveyd]

Good lad on being up and awake, thats my main issue.

sim or Live ?


Down so far today, 6second till SL hit, annoying or what lol


Kick ass!

 

[jsmacksem]

premkt broke that old channel.

Attached is what I'm looking at going into this morning.

Goals for This AM:

1. Disciplined and Focused 100%
2. Identify Signal: Must be CLEAR. Not certain, but CLEAR. Unclear stay out, patient, and realize the market will still be here should I choose not to enter.
3. Enter and Manage