Trading on "Instynct" (NQ)

Quote from jas_in_hbca:

5 trades -2.50 pts

still getting beat by the mental game
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5 trades and you lost 2.50 points!!

I made 2 trades against the trend, just for fun in the last 15 minutes... and made +7 points. I don't even trade futures that often ( I trade options); but seems fairly easy to turn a profit.

do you not know how to read a chart ?? Is your size too large for these markets?!
 
Quote from jas_in_hbca:

5 trades -2.50 pts

still getting beat by the mental game
More...

Then you need to get my Book: "How to Master The Mental Aspect Of Trading" --- a guru reveals untold secrets... :p
 
Quote from Rashid_G.:

Then you need to get my Book: "How to Master The Mental Aspect Of Trading" --- a guru reveals untold secrets... :p
More...

If you admit to yourself that you truly don’t have the will to win at this game, don’t try to trade. It is too easy to lose too much money. Many people think that they’ll enjoy trading when they really don’t. It’s boring at times, lonely during the day, mentally trying, with little structure or security. The markets are not a logical or fair-playing ground, but there are numerous inefficiencies and patterns ready to be exploited, and there always will be....

Most people react differently when they’re under pressure. They tend to be more emotional or reactive. They tense up, and then judgment is often impaired. Many talented athletes can’t cut it because they choke when the pressure’s on. You could be a brilliant analyst, but a lousy trader. Consistency is far more important than brilliance. Just strive for consistency in what you do and let go of the performance expectations.

Linda Raschke
 
Quote from iceman1:

If you admit to yourself that you truly don’t have the will to win at this game, don’t try to trade. It is too easy to lose too much money. Many people think that they’ll enjoy trading when they really don’t. It’s boring at times, lonely during the day, mentally trying, with little structure or security. The markets are not a logical or fair-playing ground, but there are numerous inefficiencies and patterns ready to be exploited, and there always will be....

Most people react differently when they’re under pressure. They tend to be more emotional or reactive. They tense up, and then judgment is often impaired. Many talented athletes can’t cut it because they choke when the pressure’s on. You could be a brilliant analyst, but a lousy trader. Consistency is far more important than brilliance. Just strive for consistency in what you do and let go of the performance expectations.

Linda Raschke
More...

This is very new information.. Brilliant!!
 
Quote from iceman1:

5 trades and you lost 2.50 points!!

I made 2 trades against the trend, just for fun in the last 15 minutes... and made +7 points. I don't even trade futures that often ( I trade options); but seems fairly easy to turn a profit.

do you not know how to read a chart ?? Is your size too large for these markets?!
More...

Yeah it does seem easy. Feel free to read my journal for a history of the mistakes i've made.

By mental i knew i should have held but figured i'd lock profits (for ego) as i can always re-enter. Except i'm lousy at re-entering on strong trends. I'm working on both problems.

chart attached for your amusement
 

Attachments

Quote from Rashid_G.:

Then you need to get my Book: "How to Master The Mental Aspect Of Trading" --- a guru reveals untold secrets... :p
More...

It's on my Amazon Wish list. Now start writing it !
 
Quote from jas_in_hbca:

Yeah it does seem easy. Feel free to read my journal for a history of the mistakes i've made.

By mental i knew i should have held but figured i'd lock profits (for ego) as i can always re-enter. Except i'm lousy at re-entering on strong trends. I'm working on both problems.

chart attached for your amusement
More...

Why on earth would you close at the point shown on your chart. What happened to patience? There were lower lows that continued fairly consistently for multiple bars to 2306-2310, when we saw a reversal pattern.Further as you noted the double top did not actually become a "double top" until the prices broke the lower price, and failed a re-test. You exited it just as the DT was being confirmed. Classic T/A

You exited on an "inside bar." Unless later bar make a higher high the inside bar was resolved in the direction of the downtrend (in this case.)

How many contracts did you have??

I don't trade futures lately but if I decide on a whim to trade the NQ, which I plan on doing beginning Monday, since we have so many large moves, gaps and decent vola. I look for 4-8 points minimum, hopefully more. If I can hold all day I would. That will be my plan. Don't like to get shaken out unless I see a reversal in trend.

From what I have seen lately, there has been a lot of opportunities to hold NQ all day, and exit near the close. Today was an example where one could have held a short all day with limited risk.
 
Exactly, why would i exit ? Welcome to my trading world. I take entries off the 1 minute, possibly getting shaken out from that. Over analyzing, unclear exit strategy, psych issues. Not a money issue, only 1 car. Trying too hard to make perfect trades ? I'll sleep better when i can make it over this hurdle. Believe it or not i'm getting closer.

Good point on the inside bar.

look forward to seeing you post some trades next week.

good trading to you ! :)

Quote from iceman1:

Why on earth would you close at the point shown on your chart. What happened to patience? There were lower lows that continued fairly consistently for multiple bars to 2306-2310, when we saw a reversal pattern.Further as you noted the double top did not actually become a "double top" until the prices broke the lower price, and failed a re-test. You exited it just as the DT was being confirmed. Classic T/A

You exited on an "inside bar." Unless later bar make a higher high the inside bar was resolved in the direction of the downtrend (in this case.)

How many contracts did you have??

I don't trade futures lately but if I decide on a whim to trade the NQ, which I plan on doing beginning Monday, since we have so many large moves, gaps and decent vola. I look for 4-8 points minimum, hopefully more. If I can hold all day I would. That will be my plan. Don't like to get shaken out unless I see a reversal in trend.

From what I have seen lately, there has been a lot of opportunities to hold NQ all day, and exit near the close. Today was an example where one could have held a short all day with limited risk.
More...
 
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