Trying to keep records and jot my thoughts down. I trade NQ (1-4) lots. Start with 1, if it is profitable, next trade will be 2 and then 2 or 4. Never trade more than 4.
I do not use any indicators, just prices on different time frames.
Stop is usually less than 3 pts. and target is 8-10 points. Entry is always limit-order. I use bracket orders and enter the target and stop at the same time. Trailing stop is used once a position is profitable.
At 7.16 pst, there was a long signal with a limit price of 1824, stop 21.25 and target 31.25. Prices came down to 23.75.I did not enter the trade because the market had just made an intraday low. Big mistake.
At 7.37, another long signal was generated, with a limit-buy 29.25, stop 27.25 and target 37.25. Prices came down to 29. Took the trade for good 8 pts. profit.
At 9.10, another signal was generated, but wasn't supposed to take it because prices had just broken support. Paid for it by losing 2.5 pts in 2 contracts.
At 11.05, another long signal at 39.25, stop 38, target 48. Prices came down to 38. Market went higher to 44, stopped out with a trailing stop at 39.75 but filled at 39.5.
3 trades, 2 profitable 1 loss.
1 target met, 1 stopped out, 1 trailing stop.
Total for the day $100 after commissions.
Notes: After I am filled, the price should not go more than .5 pts against me, if it does and if the pattern continues, move target to 4 pts.
I do not use any indicators, just prices on different time frames.
Stop is usually less than 3 pts. and target is 8-10 points. Entry is always limit-order. I use bracket orders and enter the target and stop at the same time. Trailing stop is used once a position is profitable.
At 7.16 pst, there was a long signal with a limit price of 1824, stop 21.25 and target 31.25. Prices came down to 23.75.I did not enter the trade because the market had just made an intraday low. Big mistake.
At 7.37, another long signal was generated, with a limit-buy 29.25, stop 27.25 and target 37.25. Prices came down to 29. Took the trade for good 8 pts. profit.
At 9.10, another signal was generated, but wasn't supposed to take it because prices had just broken support. Paid for it by losing 2.5 pts in 2 contracts.
At 11.05, another long signal at 39.25, stop 38, target 48. Prices came down to 38. Market went higher to 44, stopped out with a trailing stop at 39.75 but filled at 39.5.
3 trades, 2 profitable 1 loss.
1 target met, 1 stopped out, 1 trailing stop.
Total for the day $100 after commissions.
Notes: After I am filled, the price should not go more than .5 pts against me, if it does and if the pattern continues, move target to 4 pts.
