Trading on "Instynct" (NQ)
- Thread starter Instynct
- Start date
Need to find a long hat... 3 Short signals, 2 Long signals.. took the shorts only and the exits were around where the Longs were.. Classic bullish behavior.. low volatility sneaky grind up.. 2250 written all over it. Bears much more exciting though.
Trying to reduce my trading to a "work" process.. So far go good.
+10.5 for the day.
Trying to reduce my trading to a "work" process.. So far go good.
+10.5 for the day.
Rashid, let me first say good job on the net result, because at the end of the day the result is all that matters.
Second, trading can be incredibly simple when we develop a way to spot the market's bias and trade along side that bias. (Keep in mind that market bias doesn't necessarily have to stay one way the whole day, it can shift more then once and we have to be flexible enough to profit.) Can we profit by trading against that bias, sure. But thats like trying to pick the fruit at the top of the tree when there are clearly low hanging fruit right in front of you. When you have a market that opened the way it did today, you just have to trust that there will be alot more buyers then sellers, and they are waiting anxiously to buy, just like you. When you fiind your long entry, you have to trust that the other buyers have your back. If you can trade within this core concept your trading will improve. One caveat, Market bias in this context is NOT determined by higher highs/higher lows or any kind of geometric shapes. It is strictly determined by price levels, because price levels influence price structure. Over time and practice, you will find a reliable set of price levels that you will use day in and day out, and once the market meets your parameters you just roll with it and don't ask questions.
Today I had 3 trades, all longs. In hindsight, any one of those longs could've been held all day for a much bigger profit. But I know my strengths and weakneses and the action today was not one of my strengths.
Second, trading can be incredibly simple when we develop a way to spot the market's bias and trade along side that bias. (Keep in mind that market bias doesn't necessarily have to stay one way the whole day, it can shift more then once and we have to be flexible enough to profit.) Can we profit by trading against that bias, sure. But thats like trying to pick the fruit at the top of the tree when there are clearly low hanging fruit right in front of you. When you have a market that opened the way it did today, you just have to trust that there will be alot more buyers then sellers, and they are waiting anxiously to buy, just like you. When you fiind your long entry, you have to trust that the other buyers have your back. If you can trade within this core concept your trading will improve. One caveat, Market bias in this context is NOT determined by higher highs/higher lows or any kind of geometric shapes. It is strictly determined by price levels, because price levels influence price structure. Over time and practice, you will find a reliable set of price levels that you will use day in and day out, and once the market meets your parameters you just roll with it and don't ask questions.
Today I had 3 trades, all longs. In hindsight, any one of those longs could've been held all day for a much bigger profit. But I know my strengths and weakneses and the action today was not one of my strengths.
Instynct...
Fully agree with you.. I watched a trading psychology video over the weekend and one nugget I picked out of the 90 minutes or so is this:
"If you don't believe it you cannot trade it".. Belief here meaning you prefer the market favors your mental preference.,. you think the market is wrong so you perceive limited price possibilities against your mental belief. There was a key 15m bullish candle today I saw close strong and all I could see was the next candle was "failing" even though it was simply declining to support and the low of the prior bar was not threatened.
A lot of traders prefer to go against the trend for days while the market charges up.. They make a few points (if that) and once the market begins to fall they feel vindicated. They would rather do this than make A LOT more swimming with the current.. Like there is an insidious desire to make money the hard way.
I must remind myself daily ANYTHING is possible in the markets. NQ has done over 10 days in a row in one direction before.
Late post from home. -7 today and lucky to have that. I was down 15.
These slow grind up days are stop killers.
These slow grind up days are stop killers.