Index futures scalping

I trade NQ my SL is based on market condition, from experience RR 15pt/30pt seems to be a sweet spot for me and max drawdown is set at my daily average, I didn’t do backtest cuz I feel like that’s backward thinking too many what ifs sometimes clouded my judgment. But I do keep a journal to document all the mistakes that I made, one glaring thing stand out is no SL, (I used to trade without SL) Never again!! Good luck!
 
Pica550 said:
I trade NQ my SL is based on market condition, from experience RR 15pt/30pt seems to be a sweet spot for me and max drawdown is set at my daily average, I didn’t do backtest cuz I feel like that’s backward thinking too many what ifs sometimes clouded my judgment. But I do keep a journal to document all the mistakes that I made, one glaring thing stand out is no SL, (I used to trade without SL) Never again!! Good luck!
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Do you have any comparative experience with ES?

I've talked with a guy on these boards who claims NQ to be superior for scalping and how some of his set-ups won't even work on ES. From what I understand he exploits momentum moves and arguably there's on average more momentum on NQ than on ES (which backfills more and is generally thicker to move).
 
I agreed with him NQ move faster for scalping than ES, I used to trade ES as well, Now I have both charts on 500ticks open to help my decision but execute trade on NQ.
 
Pica550 said:
I trade NQ my SL is based on market condition, from experience RR 15pt/30pt seems to be a sweet spot for me
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Interesting....because I have heard of the opposite RR: 30/15 for instance. I don't understand why you don't trust a backtest of this factor ?
Pica550 said:
max drawdown is set at my daily average
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Daily average of drawdowns ? How far back do you go in the average ? 10 days, 30 days, etc.
 
syswizard said:
Interesting....because I have heard of the opposite RR: 30/15 for instance. I don't understand why you don't trust a backtest of this factor ?

Daily average of drawdowns ? How far back do you go in the average ? 10 days, 30 days, etc.
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I’m using the 3 months ~ 60 days, It’s not that I don’t trust back test, I use multiple setups it will take sometime to translate it into algo for testing. Right now I just don’t have the time for it, I rather spend time to enjoy life it’s a personal choice.
 
syswizard said:
First of all, scalping fast moving markets like ES, NQ, etc. is pretty foolhardy without taking an automated approach. On top of that, where are your trading stats ? Win rate, avg win, time-in-trade, etc. Your trading stats are the most important thing you can have right now.
You need a platform for both realtime and backtesting purposes. The backtesting will tell you how much risk to take for 1-2 points of profit. Typical Risk/Reward ratios are 1:1, 2:1, 3:1.....

re: "What would be the indicator that tells me momentum?"
There's a ton of them....RSI, MFI, OBV, etc.
You'll discover quickly that sometimes you go with the momentum indicator and sometimes you fade it.
A good auto trading platform will allow you to switch between both modes.
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Kindly point me to the platforms that will help. Thanks
 
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