My nq price action method

[jas_in_hbca]

trades

Trade 2.
dy short 3558.50
s 3561.25
target sl 3548.25.

Comments

Entry – What the hell is a dy signal (I could guess – but I won’t) (entry good)

Stop – is too generous – breach of DT

Target – Makes sense – but what the hell is sl – swing low…, or stop loss – again me with the guessing

Now you could say well dumbass – it follows the order of entry / stop/ target – so the sl must be swing low – at which point I would direct your attention to trade 9 please



RN

RN, What's wrong with the structure stop ? I believe it's a tick above the DT. You would use a TL break as a stop or ?

thanks

jas

 

[ammo]

qoute Thanks, Ammo. looking forward to the maybes becoming clearer./........
qoute



Join Date: Aug 2007
Location: Texas
Posts: 1,258

I saw early on today by huge bars on two minute, it wasn't going to be bar of choice, I dropped down to one minute and started to trade exactly as I always done. Same rules, stops, patterns, nothing ever changes if you trade long enough.

When I am confused, I stop trading unless I can use Price Patterns to show me another reason to get in. If Volume not making sense, got to have congestion of support or resistance and then get in cheap(near S/R) and risk next to nothing. I lack patience in Price patterns, it either has to take off in my direction pretty quick or I am taking a tick of profit. I am watching the DOME to see which direction the price wants to go by looking at nearest volume on ask/bid, the one that gets down to zero first will either go up/down to next level. This isn't Rocket Science, but people think it got to be a lot harder than it is, too many years of society yelling you have to have good grades to get ahead, really who cares what grade you got for History4 in college to make some money looking at little lines on a screen. Am at Starbucks trading on 17 inch screen, hooked into PC at home, brought my Organic Half & half for coffee, life can't be much easier than this. My old man would be so angry at me cause I wasn't really working at a job that meant something like building houses. We all have our demons."


20 plus years ,doesnt trade the maybes

,disipline//every trade is a bet,high percentages only

 

[slugar]

Was traveling for 7 hours today so only marked 4 trades. Per a request I am marking my stop loss with a red dashed line and my target with a green dashed line.Also all of the trades are numbered. 1.Double bottom long 3521.50 stop 3518.25 target last swing high of 3533. trade 2 long at 3546.75 double bottom. stop 3544.25 target last swing high 3555.25 or breach of up move trend line.3.lower high short at 3576.50 stop 3579 and target of last swing low of 3560. 4.lower high short at 3547.50 stop of 3550 and target of 3532 from a swing high at 8:31 cst.

 

[Handle123]

qoute Thanks, Ammo. looking forward to the maybes becoming clearer./........
qoute

20 plus years ,doesnt trade the maybes

,disipline//every trade is a bet,high percentages only

This is how you make money in markets, high percentage trades. Don't hurt yourself.

I use the fill out by hand several journals I had going during my learning years, most of my learning was with graph paper and pencil even after home computers came out, I am really a dinosaur when it comes to technology. I was told long ago if I found people that were good at it, pay them well so they don't leave. In my journals I would record everything and anything I thought or saw that might be important. One journal became my "extra" trades, you know the ones, where you put on cause you can "feel" the market going to do something? After a few thousand of these trades recorded, I added them up and 95% were losers, hmmmmm, that number really did it for me on taking these extra trades, it told me I was horrible at doing non-system trades. It told me that inexperienced traders takes these trades and I could do the opposite if I had a signal and most likely be better than 50/50 at making a profit. It also told me to add more contracts when I get these extra trades going to other way with a good signal.

Does anyone record these amounts?

 

[Huyang]

4.lower high short at 3547.50 stop of 3550 and target of 3532 from a swing high at 8:31 cst.

slugar: If possible, please help to describe your thought process for the following (details are in the attached chart. ):
(1) what make you not look for higher low long entry as shown in green arrow?
(2) What make you not to short earlier at red arrow ?
Thank you.

 

[Huyang]

I saw early on today by huge bars on two minute, it wasn't going to be bar of choice, I dropped down to one minute and started to trade exactly as I always done. Same rules, stops, patterns, nothing ever changes if you trade long enough.

Handle123: may you please check whether notes on the chart is what you shared on weak hands signal? Thanks a lot.

 

[Redneck]

RN, What's wrong with the structure stop ? I believe it's a tick above the DT. You would use a TL break as a stop or ?

thanks

jas

Eyeballing it.., the HOD / DT appears to be @ 3560.25 (admittedly I could be wrong about that – but that is where I think / thought the HOD / DT was)

That said – set stop @ 3560.50..., and reduce risk by 3/4 of a point – as ;

This is one of those trade’s that either works…, or doesn't – and when it doesn't - no need losing any more than necessary


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

Could one use a break of the DMTL

This early in the morning… knowing volatility is present – probably not the best choice

But – I could be wrong here – this is where knowing the personality of what you’re trading comes into play

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

No question.., I am anal about using small SL’s (and anal is a gross understatement)

But there is also a point where you start choking trades…, by setting the SL too tight…

Then you‘re simply pissin money away.., getting needlessly stopped out – by price’s normal gyrations (normal for the time day / part of the session)

This particular trade – imo – falls into this category

Make sense?

RN

 

[Redneck]

Was traveling for 7 hours today so only marked 4 trades. Per a request I am marking my stop loss with a red dashed line and my target with a green dashed line.Also all of the trades are numbered. 1.Double bottom long 3521.50 stop 3518.25 target last swing high of 3533. trade 2 long at 3546.75 double bottom. stop 3544.25 target last swing high 3555.25 or breach of up move trend line.3.lower high short at 3576.50 stop 3579 and target of last swing low of 3560. 4.lower high short at 3547.50 stop of 3550 and target of 3532 from a swing high at 8:31 cst.

My initial thoughts

The start of the TL.., for trade 2 - little sloppy

Overall.., the TLs - are very clean

Yesterday - you had 10 trades - and were all over the radar

Today - 4 trades and captured a large portion of what the mkt offered - real nice job!!!!

Back in a few

RN

 

[Redneck]

eta

Notice how the yellow highlighted zones came into play early... then later in the day

zones = S&R areas = reference areas

sometime they can be large (wide) - other times not so


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

Trade 1.
Double bottom long 3521.50
stop 3518.25
target last swing high of 3533.

Comments

I like how you drew the 2 TLs

Entry – Solid

Stop – Solid

Target – Can’t see the last SH – but I believe you – Solid


Trade 2
long at 3546.75 double bottom.
stop 3544.25
target last swing high 3555.25 or breach of up move trend line.

Comments

Beginning of TL sloppy – see note

NOTE; if you try and make a clean TL… but can’t – that is price speaking to you - that its not clear on what it wants to do – just yet

Entry – Solid

Stop – Solid

Target – Solid (see note)

NOTE;

We talked about fanning a TL – and how that reflects momentum is waning

Same.., but the opposite - is true when price climbs steeper…, and away from – the existing TL – momentum is increasing

So.., for this trade – a target of the last SH is solid… but.., as price was heading to that SH – it was also gaining momentum (Newton’s law a body in motion) so it would be reasonable to expect price to exceed the SH

IMPORTANT NOTE – I just shared another layer…. But I want to ease into these layers real slow – to give you a change to get comfortable.., to assimilate… so for now – just note momentum was building into the SH



Trade 3.
lower high short at 3576.50
stop 3579
and target of last swing low of 3560.

Comments

Entry – Solid

Stop – eyeballing it – top appears to be 3580.. but I ain’t complaining - Solid

Target – Solid – again it had momentum..,. and it was respecting the DMTL
(just observations to note at this point)

Trade 4.
lower high short at 3547.50
stop of 3550
and target of 3532 from a swing high at 8:31 cst.

Comments

Entry – appears the circle is 1 bar above the entry bar (see my red circle) - Solid

Stop – Solid

Target – Solid

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

Aside;

I’ve been riding you hard these last few days – I get no enjoyment from that whatsoever


Days you do work like this – makes my heart feel good

Thank You

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

Please keep this up – the attention to detail… the clarity – both will serve you well trading

RN

 

[Handle123]

Handle123: may you please check whether notes on the chart is what you shared on weak hands signal? Thanks a lot.

When I mention "Weak hands", these signals have to do with an extended move and confirmed by what I seek regarding volume. Heavier volume near lows and lighter volume near highs based on very short timeframe charts. It is not the same as much in larger timeframes. But I am a scalper when I trade on timeframes under 60 minutes, in/out give me hundred bucks, not all the time mind you but enough to keep it fun. And there are times I make more than hundred but those happen on averaging down fills.