My nq price action method
- Thread starter slugar
- Start date
Trading on smaller timeframes than 60 minute, I have never been able to back-test well enough on "letting profits ride", nor have I ever built method where risk was less than reward that offered above average returns. Long term trading off weekly charts offer the homerun trades, but not day trading for me. I normally have to risk $100-$150 to get same amount, and even a little more in Russell, otherwise noise will too often stop out trades.
I use 60 minute charts on all markets, it is my little way to do "swing" trading. Have two signals to get in, entry on trendline and other is a breakout after price hits trendline. I normally risk $500 on these trades and seldom get stopped out.
I use 60 minute charts on all markets, it is my little way to do "swing" trading. Have two signals to get in, entry on trendline and other is a breakout after price hits trendline. I normally risk $500 on these trades and seldom get stopped out.
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Thanks Handle it looks loke the 50% line of the move down is holding prices for now!
The more I observe and read what db is saying the more I realize that each trader must come up with his own method. At this point I feel confident my method will make money on a consistant basis and I feel ready to start trading. I am not comfortable holding through large retracements even if the main trend is up I will not hold through a retracement larger than the last swing low but will look to reenter as soon as my system tells me too.
So it's been awhile since my last post so
I thought I would . I've been spending more time and reading wyckoff and following everyone who is using the SLA and I have to say it I've learned alot about the method but mostly how many different interpretations of the method there are. My humble opinion is that there are many ways to make money in the market but the sure way to go broke is not being able to admit when you are wrong and hoping the trade comes around and goes your way. My plan is not finished but I will BASE it around the SLA but it has to be mine if it's going to work. I don't think this approach can be mechanical but I can write my own rules to follow.
I thought I would . I've been spending more time and reading wyckoff and following everyone who is using the SLA and I have to say it I've learned alot about the method but mostly how many different interpretations of the method there are. My humble opinion is that there are many ways to make money in the market but the sure way to go broke is not being able to admit when you are wrong and hoping the trade comes around and goes your way. My plan is not finished but I will BASE it around the SLA but it has to be mine if it's going to work. I don't think this approach can be mechanical but I can write my own rules to follow.