My nq price action method

Now back 4 or 5 posts - when i said it looks like it wanted to go up..., and had I stuck to my thinking

I would be hatin life right now


Trade what you see / not what you think

(and full disclosure - i have not traded any of this - I simply can't focus on 2 things at once)

Volume coming in btw

We'll see

RN
 
having the patience to sit and observe is very important is this business

btw, I readjusted the green and yellow TLs.. and extended the blue lines (current range) - on the 5 min


eta - the green line on the 5 min now closer matches the UMTL on the 15 (and Slugar this is why paying attention to details ... and being precise - matter greatly)

RN
 
Ever hear a trader say - made money in the morning.., lost it in the afternoon

Must be adaptable to the PA environment

Ain't a one of us able to force price to do anything

btw - as I was writing this.., price BO to the down side hard

RN
 
Vol came in - likely it the stops / dumps / and eager (impatient) short entries - we'll see if it has follow through

Volume must be read in context (this takes a while to learn)


RN
 
Seldom pays to enter eagerly

red box is the pain felt by being one of the eager shorts

RN

eta - stick a fork in me... done for now
 
When I last posted;

Price was demonstrating how stupid I am

How having / holding an opinion is not wise

How the eager get punished

How even though price was signaling it wanted to do one thing – it did the exact opposite

====================

So where did price end the day – believe it or not – right back in that range where I said it was acting like it wanted to go up – go figure


Wonder how many – long / shorts got screwed today

Wonder how many left feeling like they are a competent trader – simply because price came back and saved their ass


My whole series of posts today

Was not about being right or wrong

Nor was it about forming an opinion and trading it – which is another quirk with this business

One must act…, decidedly and decisively – without ever forming an opinion on the matter – without ever taking it personally – and without regard to what happens next

Over and over – till retirement


My posts were about trading & about being a trader

Trade what you see

Roll with price

Screw your opinion

Have patience – as much patience as it takes

Don’t rush to enter

Sitting through pain – greatly expends one’s mental capital – not the mention the monetary if price does not come back

That one can ultimately be right – yet still be wrong & broke (timing is important)

And though I did not explicitly say it - when wrong – get out while the loss still small

===================

Which.., speaking of losses … as I’m sitting here thinking…. and though I’ve taken thousands – if not tens of thousands of small losses – I can’t recall a single one….

Not one

Yet of the losers…, I allowed to grow and piss away my capital – destroy my account – screw with my head – more than once (because I am obviously too stupid to learn the first time)

I can recall each one vividly – like each happened yesterday

Such is the business we’re in - best get your head screwed on straight and be mentally prepared every day

RN
 
Again... not a call

We'll simply see what Monday brings



Price does not like being in the 56.48 vicinity - which is not to say it won't return... even bust down and through it

But so far - it hasn't like it

RN
 
1st trade higher low long at 3518.75 stop 3515.25 target swing high of 3532.2.higher low long at 3527 stop breach of up move trend line approx. 3524.50 target 3532 last swing high. 3.lower high 3737.75 stop 3541.25 target breach of down move trend line.4.lower high short3525.25 stop 3528.75 target swing low of 3510. 5. higher low long at 3522 stop below signal bar at 3518.75 target last swing high of 3528.50.6. last trade lower high short at 3543.75 stop 3547 target last swing low at 3528.
 
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