Actually this is not a journal; it's about potential NQ targets. I show what I look at. I don't show where I enter or where I exit or how many contracts I trade. I may not even be trading at all. Those who can't make sense of it -- or "read" it as lotto might say -- after reviewing my plan ought to move on to something else. Jack Hershey, maybe.
Potential NQ Targets
- Thread starter dbphoenix
- Start date
Actually this is not a journal; it's about potential NQ targets. I show what I look at. I don't show where I enter or where I exit or how many contracts I trade. I may not even be trading at all. Those who can't make sense of it -- or "read" it as lotto might say -- after reviewing my plan ought to move on to something else. Jack Hershey, maybe.
My apologies, you're absolutely right and I did mean to use the word "thread" instead of "journal".
Actually I am... why do you think I'm right in front of my computer? 
But let me tell you, today was a bitch of a day for these 5 min trendlines. So messy compared to how clean the breaks were on Monday and Tuesday, but that should be a sign right there. I can certainly see why ND has a rule of not taking a trade if price re-enters and closes below the trendline.But enough about me... where is your chart? Cause all we have so far is one guy screaming that he wants to see a PnL that is never produced, while the other guy saying he wants to see how he trades and yet no chart is produced. Many people reading might assume both of you are out to lunch! hahahaha
But enough about me... where is your chart? Cause all we have so far is one guy screaming that he wants to see a PnL that is never produced, while the other guy saying he wants to see how he trades and yet no chart is produced. Many people reading might assume both of you are out to lunch! hahahaha
KP,
I have not read that rule from ND. I guess I missed some of her posts. Do you mean that after a break of a down trendline to the upside, that price then falls back through the trendline, but does not exceed the previous low?
Its actually in this thread right here. Check out her annotated charts.
http://www.elitetrader.com/et/index.php?threads/potential-nq-targets.286786/page-2#post-4030867
"Real" is plotting targets in advance, every one of which has been reached over the past six weeks or so. This is a more reliable and beneficial means of "walking the walk" than posting possibly fictitious P&Ls, particularly if these "P&Ls" aren't posted every single day.
Whether or not these moves are even traded is irrelevant. The purpose of the thread is to plot the targets. Those who can't understand a point so simple are likely to have all sorts of difficulties in a trading environment.
I think people see it as maybe a way to be able to claim a winning trade without having any skin in the game.
Like, one could say ''we're trading at 9500, target of this move would be 10,000''
that would imply that one is long or certainly looking long with a higher bias.
If we then start trading down and crashing, you can claim to have not lost any money, since you never said the words ''I am long''. You were just plotting potential targets.
If however, we do carry on up to the 10,000 target, we'll see posts bragging and implying that you were in on the move and taking credit for a 'call' that was never actually made.
Actual realtime calls are the solution I think. Like this in the ESjournal or even Convex's journal.