Razor: The Mind of an NQ Trader

Hey,

Sorry was not on computer for almost whole weekend and took yesterday off as well.

Yes I plan to increase size on both the NQ and equities. I don't really base my NQ trading off of stocks and how they are performing but I do make equity trades based on what futures are doing.

Ya, I had too many beers over the weekend :D



Quote from Duref Mudgins:

Ah, so nothing mysterious there in NQ for you, huh, Razor? Me, I trade it because the contract is cheap.

Now please tell me, do you have a plan for where you are going re stocks and NQ for the longer term? I see from your other posts that you typically make more each day trading stocks than NQ. Why is that? Any thoughts of scaling up your NQ trading? Of trading it exclusively? Or is there synergy watching big NAZ stocks and NQ at the same time? Hope you are enjoying this as much as I am. Like having a beer and bullshitting each other about our trading, haha!
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I thought there might be some synergy there between stocks and futs. Thanks for replying.

Now many readers by now probably have looked at your posts in Anekdotens's excellent thread, but could you comment a bit for us about how long you typically hold a position?

And please, graduate to champagne when you start making the big bucks!
 
:D

Usually in a trade from 1 - 15 mins but it could be 30+ mins on the odd occasion that we stay in a range after entry.
 
Some clown over in Strategy just proudly posted a 47 second trade, so I guess you are patient by comparison. I want to talk to you about your holds later (clearly lots of opportunity for imprevement there, like maybe the whole DAY!), but first this question:

Without revealing any particular strategy, do you tend to trade retracements, rollouts, breakouts, momo, what?
 
I try and get with the short term trend by entering retracements. The short term trend is basically defined by the current HH, HL's or LL, LH's on the 400 volume bar chart for NQ.
 
Got it. You're basically getting on when everybody else is getting off in their ritual fucking by the MM's returning price to previous highs/lows after BO's, yes?
 
Hmmmm, I am just trying to find a place where I can set a reasonable stop and then looking for the trend to continue, if it doesn't continue I take the stop and then look to get on the next trend I see. Key is my gains are usually +4 points and more and stops 2 points and less, course I have had the odd 3 point stop but also have booked 7+ points on one trade as well.
 
Need to talk to 'bout them stops, son! I use three ticks!

But nice profit targets, we'll talk about that privately, don't want to give anything useful away in a bullshit thread like this. Sorry, readers!

OK, we were getting too specific there, too close to a technique.

Moving right along, if you can say, why are you using EquiVolume charting? (Not a trick question, I just don't get it myself.)
 
I actually read a thread on ET that made a lot of sense to me about volume / share bars vs. time bars. I can't recall the thread but basically price is only printed when an actual share trades hands, so to me it is the best way to watch price based on shares traded for it to print a candle....makes the chart much cleaner and easier to 'see' price action, time bars tend to have huge candles on price spikes even on small volume.....main thing is I 'see' better with share bars, maybe the next person will see better with time bars.....trading is a very individual thing IMHO

PS: I also thought it was nice to not have to watch volume (ie: another indicator) if one was usuing time bars, with share bars you are essentially watching price and volume in one shot :D

PPS: Sometimes I can set a stop at 3 ticks but obviously it can't always be the same because I set stops at what I see as support and resistance points, well if I get in a trade and one of these support or resistance points is 2 or 3 points away I am not just going to put in a random 3 tick stop I am going to set my stop according to where I don't think price should trade if current trend is to continue.....it should be also noted that I will move my stop tighter as the price action dictates when I am in a trade....often it will go something like 2.50 initial, moved to 1 point, then
moved to break even then moved to lock in 1 point profit then moved to lock in 3 points then take profit around 5 points of so.

PPPS: As one can see many things are very discretionary about my trading (as far as entries, stops, profit targets, ect) this is because I use zero indicators and rely on price action alone which requires a lot of discretion.
 
I believe that ProfLogic is the main proponent (exponent?) of the method. He is next on my list to interview, starting the 17th. I know someone who uses that to great effect (ProfLogic being widely regarded as full of shit, I don't know for sure, the interview will tell), and would be happy to connect you if both of you want.

BTW, a certain Joe Doaks here was inspired by EquiVolume to create EquiPrice charting. You might look it up. I use it myself when nothing is happening. Helps to while away the boredom.

OK. Now I am going to move into existential telelogical ontological questions, which is where I really want to go. Would you characterize your trading screen as "simple" or "complex", and if so does that reflect on your personality?

PS to your PS: You should be ENTERING at S/R, not worrying about retraces to it after your entry. Haven't you read your Mamis?
 
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