Trading NQ via Price Action

[samuel11]

Since the start of this journal, QQQ is higher by more than 15%.

In the meantime, kp lost money, became frustrated, and is still lost.

Maybe you should stop behaving like you’re smarter than everybody! If you only had invested in that ETF, you could have made a little bit of money while sim trading, and maybe you would know a little more right now.

 

[Redneck]

What I really want to say is that although emini and slugar both are on their own journey's, they aren't in the position to offer advice.

Can't speak to Emini

But in Slugar's cased - you're an imbecile


Keep on keepin on KP

yippee ki yay

RN

 

[dbphoenix]

Yes.. I fully agree... and the first thing I will solve is if my the problem lies in not doing what I should do, or not knowing what to do. Maybe I'm just protecting my ego, and if this is the case, I will face this. But I do believe that up till now, the crappy results are a lack of discipline and not a lack of understanding. But if I'm wrong... I am more than willing to take a step back if need be, I just have to really figure out where I'm at.

Just for the hell of it, plot a MACD on the last 20 or 30 charts and see what you've got. A moving average is after all just another type of trendline. If the MACD can put you in place and hand off the trade to you, then why not?

 

[jsmacksem]

Once again quoting Mr Turtle

"Wisdom is profitable to direct"

RN

Whose Mr. Turtle?

Good quote.

 

[dartmus]

My opinion kp is many are making this way more complicated than it has to be. Define your edge. Have an entry rule a stop you place in case of an emergency. A target of where you think the market will go. How you are going to manage your trade and a point where your edge is no longer valid and you get out. Take every trade where your edge is valid and get really good at taking small losses. You can always reenter.

Excellent advice slugar. You've described the essence of trading without cluttering it up with any tangential asides.

k p, if there's any doubt that slugar intended to emphasize that the metrics he described must be tangible than I can assure you they need to be precise measures that only allow for waffling within precise circumstances that themselves contain their own precise metrics thus eliminating indecision entirely. When you have mathematical proof of the validity of what you're doing then you will have no fear. If you have any fear whatsoever then you should not be trading. It's really that simple.

 

[slugar]

Ok... final update here guys... and not to be rude at all as I'd love to reply to slugar and emini personally, but I feel like I'm just being back up against the wall here with having to provide answers and explain myself and I simply don't want to go down this road.

What I really want to say is that although emini and slugar both are on their own journey's, they aren't in the position to offer advice. I in no way mean to be rude, but my honest and true gut feeling and reaction is that each of us sees it differently, each of us needs something different to break through what it is we need to break through. None of you are wrong with your advice, but often its advice that has helped you with your own problem, and this might not reflect where my issues are. Furthermore, and once again, not to be rude, but I just feel that those who aren't trading with real money and have consistent positive results I have trouble answering to.

I really really don't want to come off as rude, but in some respects I don't find some of these questions helpful to me and I just want to focus on what is helpful to me. I too struggle with the idea that I need to define what kind of trader I want to be because I'm all over the place in this regard (ie. trading different time frames), and I too see that this is easy when you step back a bit and money isn't on the line. But I just don't want to listen to too many people at the moment, and dare I say, people who aren't trading size and are profitable. I in no way mean to be insulting, I just need to regain control of my path and direction.

Are you kidding me kp? I've told you a few times about my struggles of course I don't think I've arrived by any means. Not sure anyone that has offered you advice has ever shown you why you should listen to them.

 

[dartmus]

I absolutely agree with this. Before you decide not to take his advice I would really sit down and have a talk with yourself as to why you do not want to do it. What beliefs are being challenged by accepting this may be the best path.

Take a look at the start date of my journal and how long it's taken me. Your decisions remind me of me. I thought my set ups were too discretionary to back test. I thought I had to read the market 'live' to get the feel and know when to take trades using my set ups. I was wrong. I did not start having real progress until I had clear written rules for set up, context, trigger and management.

Missing trades I found is not simply a discipline issue and need to try harder. It quite likely is your conscious and unconscious brain does not know what they should be looking for. There is conflict and indecision. Once you understand triggers for entry and exit (and they need not be complicated but they may have variations) you can start training your brain to act on these through review of static charts, back testing bar by bar, market replay and going live.

I started my journal to benefit me and to document the process of learning to trade. If you want to see the frustrations ahead of you you can read my journal. Or as I said, check how long I've been at it. I'm not yet the trader I expect to be but I finally feel as if I'm making real progress, know what I'm doing and what I should be doing to achieve my goals.

Good luck.

Jas

k p, I know you have a lot of people telling you stuff and it can be difficult to assimilate everything but you tsum take the time to reread this post by Jas (and the post by slugar) because they've simplified it down to a science.

 

[k p]

Just for the hell of it, plot a MACD on the last 20 or 30 charts and see what you've got. A moving average is after all just another type of trendline. If the MACD can put you in place and hand off the trade to you, then why not?

Although I value everything you say Db, I would hate to add one more thing to look at. I have to figure out why I am not doing what I should be doing. And if I don't know what to do in a situation, I have to figure out if this just means I need to stand aside until I do know, or if I should work on delving deeper to find out if I can make sense of it.

In some respects I do like the idea of a moving average because I think lots of people use this, and if lots of traders are looking at this, perhaps it makes sense to know what they are looking at and hence to be able to better judge where the market it going. Just like a previous day high or low... lots of people look at this and hence it makes sense for me to plot these on my chart and see what happens around these areas. But I don't think I need this MA, and I hate the fact that the MA is a calculation based on what was in the past versus being focused on what is happening right now.

 

[samuel11]

You’re not in any capacity to be a good trader with this state of mind and attitude.

I suggest you save money and time for something else until a relevant change has happened.

 

[k p]

You’re not in any capacity to be a good trader with this state of mind and attitude.

I suggest you save money and time for something else until a relevant change has happened.

Since the start of this journal, QQQ is higher by more than 15%.

In the meantime, kp lost money, became frustrated, and is still lost.

Maybe you should stop behaving like you’re smarter than everybody! If you only had invested in that ETF, you could have made a little bit of money while sim trading, and maybe you would know a little more right now.

Since I'm on a roll here today... lets address this as well. I'm sorry that I am not familiar with your posting history, nor do I know what kind of trader you are, but none of your advise is all that helpful.

You say QQQ is up 15% this year... so what? How much is Google up... or Tesla... why not just suggest I buy those?

When did I say I was smarter than everyone else? All I'm saying is that some things don't fit me... don't jive with my personality, don't address my own fears or strengths. You sound like a long term buy and hold trader given your advise to buy QQQ since its up 15%. How is this helpful to a guy who wants to be a trader and not an investor?