I will treat here with appropriate brevity the bizarre symptomatology of those who trade NQ exclusively. They are by-and-large a secretive sub-culture, filling a niche not unlike that which paedophiles occupy within the larger fetishistic population. I suppose that I should feel pity for them, but they compose such a significant fraction of my trading therapy practice that I am more inclined to view them predatorily. But I must now repair to set up my trading screens for the day (I scalp NQ), so I will continue at a more convenient time. I promise my clients and private correspondents that I shall preserve their anonynity, if not their pride. Curious how the sickest ETers wish to preserve the anonymity of their anonymity.
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The Characterology of NQ Traders
- Thread starter Duref Mudgins
- Start date
To begin, the typical NQ trader is obsessed with sex. When he (and they all are male) is not IMing or phoning his current ladylove (and they change faster than the lunar cycle, he can't even get through one period with them), he is surfing porn, or watching old porn (he likes older women) in a small window (on the computer, he had to give up real peeping after the police came).
Given this level of distraction, how can he possibly trade? Because he is an anachronist. He sets up intraday S/R and weekly S/R. Thus he only has to pay attention to the market at critical time junctures, and that attention is attracted by pinball and slot-like audible alerts.
But why NQ? Because he is also an iconoclast, hates the new gurus (his are all now long dead and revered, you can't get much deader than Fibonacci), and becomes physically ill when he sees an ES chart, as it reminds him of the current analytical follies and guru idolatry. Also, he has very little brainpower, as most of his blood collects elsewhere during the day, so he wants to keep trading decisions simple. He is wont to scream at the screen "Just tell me what the fuck to do!", and becomes enraged when faced with a complex decision. He is his own guru, and his trade codes are his prophets.
Given this level of distraction, how can he possibly trade? Because he is an anachronist. He sets up intraday S/R and weekly S/R. Thus he only has to pay attention to the market at critical time junctures, and that attention is attracted by pinball and slot-like audible alerts.
But why NQ? Because he is also an iconoclast, hates the new gurus (his are all now long dead and revered, you can't get much deader than Fibonacci), and becomes physically ill when he sees an ES chart, as it reminds him of the current analytical follies and guru idolatry. Also, he has very little brainpower, as most of his blood collects elsewhere during the day, so he wants to keep trading decisions simple. He is wont to scream at the screen "Just tell me what the fuck to do!", and becomes enraged when faced with a complex decision. He is his own guru, and his trade codes are his prophets.
I think this is the third or fourth thread along this vein that you started just since Ive been on the board. I would be much more interested in the psychological aspects of your posting behaviour. There are a couple of others here with the same symptoms so I suspect there truly is a disorder of some sort and you might be doing a great service to humanity by investigating this instead of going down the same old road again. A suggested name for this disorder might be hyporepititionism.
Actually, I'm looking forward to the next installment. Bearbelly, why does the author trouble you so?
TD, perhaps BB (don't let me go retrograde on why people give themselves the diminutives they do, there's a reason they're called diminutives), is generally uneasy around me. For example, clearly no one has bothered to tell him that, like Jack, I use my real name. So unless BB is an Amerind (Bear-who-scrapes-his-belly-on-sharp-rocks?), his use of a diminutive (that word again!) rather than his given name is telling relative to my own stature.
Unlike his disdain for me, I read his posts avidly. They have such an endearingly lost tone to them. As Spydie gets deeper and deeper into the swamp, BB still trustingly thinks there's a way out. He doesn't yet get it that he is the kind of trader who desperately needs what I have to offer ("red-light-short, yellow-light-slow-down, green-light-long"). Trading is a binary decision theory world, and as Joe Doaks might say, Jack hasn't shown us his ROC curves.
But to return to NQ traders, I have yet to correspond with one who is unhappy with the 5% a day return on hazarded capital that it offers with little risk. NQ traders are not piggy like ES traders. I myself have settled into a new, and probably temporary, routine of trading the first 15 minutes and the last 5 minutes of RMH, and the first five minutes of the post-market. That leaves me more than ample time for those other pursuits with which NQ traders achieve balance in their lives. On days when there is not enough romance or champagne to fill my life, I condescend to enlighten ET.
For example, in NQ right now they are "rat-shitting" (Joe Doaks' term). If you follow Joe, you know what that implies.
Unlike his disdain for me, I read his posts avidly. They have such an endearingly lost tone to them. As Spydie gets deeper and deeper into the swamp, BB still trustingly thinks there's a way out. He doesn't yet get it that he is the kind of trader who desperately needs what I have to offer ("red-light-short, yellow-light-slow-down, green-light-long"). Trading is a binary decision theory world, and as Joe Doaks might say, Jack hasn't shown us his ROC curves.
But to return to NQ traders, I have yet to correspond with one who is unhappy with the 5% a day return on hazarded capital that it offers with little risk. NQ traders are not piggy like ES traders. I myself have settled into a new, and probably temporary, routine of trading the first 15 minutes and the last 5 minutes of RMH, and the first five minutes of the post-market. That leaves me more than ample time for those other pursuits with which NQ traders achieve balance in their lives. On days when there is not enough romance or champagne to fill my life, I condescend to enlighten ET.
For example, in NQ right now they are "rat-shitting" (Joe Doaks' term). If you follow Joe, you know what that implies.
Quote from Thunderdog:
Actually, I'm looking forward to the next installment. Bearbelly, why does the author trouble you so?
The trouble with communicating on a forum is that many of the signals are missing. If you had seen me when I was posting you would not have made the assumption that I was upset. Like hypo and you I am simply killing time and having some fun. It is also kind of silly to make assumptions about somebodies trading when you havent a clue what they are doing one way or the other.
p.s. last sentence was directed at op
My apologies, BB. I forgot to add that NQ traders are insufferable snots.
225, you asked for more insight into the alleged mind of the NQ trader. I will share something with you and you alone, no one else may read further.
Inexplicably, the Technical Analysis forum has turned recidivist. It no longer tolerates innovative TA, but suffers tripe MA threads to survive. So my associates and I will no longer share there. If we are going to be ignored, Psych is the best place to do it.
Look at the attached chart at the trade helper at the very bottom. Note that in the premarket today, it generally worked. But more interestingly, so far in RMH today it was perfectly WRONG. Hence Joe (its inventor, I just keep him supplied with stimulating porn in payment for his coding services) calls it the Wrongalator. This invention is but the latest in a string of heuristic discoveries along the path I started down when I "learned" SCT. So I owe Jack a great deal, but not at all what he would appreciate.
225, you asked for more insight into the alleged mind of the NQ trader. I will share something with you and you alone, no one else may read further.
Inexplicably, the Technical Analysis forum has turned recidivist. It no longer tolerates innovative TA, but suffers tripe MA threads to survive. So my associates and I will no longer share there. If we are going to be ignored, Psych is the best place to do it.
Look at the attached chart at the trade helper at the very bottom. Note that in the premarket today, it generally worked. But more interestingly, so far in RMH today it was perfectly WRONG. Hence Joe (its inventor, I just keep him supplied with stimulating porn in payment for his coding services) calls it the Wrongalator. This invention is but the latest in a string of heuristic discoveries along the path I started down when I "learned" SCT. So I owe Jack a great deal, but not at all what he would appreciate.
Attachments
The NQ trader is also deeply suspicious, often to the detriment of his trading. For example, NDX is now in clear price divergence with the other U.S. stock indices (SPX, DJX, RUT). NDX has made a higher high, whereas the others have made a lower high, and simple percentage-based trend trading rules say to short them. So I do not trust the positive reading of N.Q. Enqueue's high reliability Confabulator indicator. Although I have traded long today, I have done so sparingly and mistrustingly. So we can perhaps assert that NQ traders have little faith and tend to scalp, although not as much as the Hershey crowd (20-40 times per day, we're talking trades here, not self-touching). So regarding today's runup in NQ, I can't wait for the last five minutes of RMH and the first few of post-market for one or two no-brainer short scalps.
Those of you who follow with avid interest the systems I and my other associates in the Psych forum commission from Joe Doaks will appreciate this advancement. Joe has tuned the Wrongalator indicator so that it now works, and I have christened it the Rightalator. You will note that it predicted the late morning BO eighteen minutes in advance, which I believe beats Hershey's best claim by a good quarter hour.