Trading on "Instynct" (NQ)

15 min signals bars off relevant price levels.. preferably at day high or low is my system.. The third bar after open was clearly a long off 2300, (hammer, lizzard, or whatever you wish to call it) but I chose to change my mind with every wiggle there after... FED a factor but I am a much greater factor to the loss today.. In spite of slow movement, price usually DOES have a direction.. It's up to the trader to see it and BELIEVE it...
 

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Instynct, I have been watching the first 30 minute opening range following your tip, and it is very interesting how often that range becomes a support or resistance level, just like today.

I am now looking for a long entry to run back to top of range.
 
Guys,

I have decided to stop trading for a while. Yes today was bad but nothing terrible. However I am continually stepping over dollars (my work) to pick up pennies (trading). The only way to keep at it would be to trade significantly more contracts but even a 1 contract trade is scary to me, preventing me from applying even the simplest of systems. 1 contract or 5 contracts takes the same amount of time.

Until financially I can comfortably trade multiple units with 15m bar stops (5 to 10 pts.) I shouldn't and won't trade. 5k per contract about right... Need to build capital to such a level.

Hard decision but the right one...
 
Quote from Rashid_G.:

Guys,

I have decided to stop trading for a while....
.....Hard decision but the right one...
More...


R, I enjoyed following the NQ warriors on this thread, and will miss your posts, and reasonings. At least be on the sim, so you won't get too rusty :p

I also work full time, and know exactly what you're going through. 15 min bars are minimum, but don't be too put off by the size of the stops. The compromise for longer time frame bars are, you get fewer, but a lot more cleaner price action (Signals) over the shorter bars at the expense of bigger stops.

I'd take the clearer price action over the choppy "death by a thousand cuts", kind of price action, any day. Because, at the end of the day, when you add up all those tiny stop losses, they ain't that tiny anymore.

Good luck,
Schaefer
 
Rashid, We have all been there more than once. I have enjoyed your posts and hope you continue to participate on Instyncts thread. We all leave from time to time to clear our heads.
 
Quote from Schaefer:

The compromise for longer time frame bars are, you get fewer, but a lot more cleaner price action (Signals) over the shorter bars at the expense of bigger stops.

I'd take the clearer price action over the choppy "death by a thousand cuts", kind of price action, any day. Because, at the end of the day, when you add up all those tiny stop losses, they ain't that tiny anymore.

Good luck,
Schaefer
More...

Schaefer.... You are still around? Wow.. Many of us are like relics of ET.. Rightly said.. The root of my problem is an inability to accept THE true stop so I end up with stops that are sure to be taken. The larger stop, though unimaginable to the fearful trader actually rarely gets reached but I simply can't/won't accept it... Then I readilly accept lots of little ones.

As BMW said, once you enter Hotel ET, you never leave.. Just take breaks..
 
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