Trading on "Instynct" (NQ)

I was watching some videos from lightspeed trading and this first one really put things in perspective for me. His name is Marc McCord and the title to his video is called "recovering from a bad day".

http://www.youtube.com/watch?v=nKxeZNNr2Z8

Towards the end of this next video he says something to the effect "when it's so easy to buy on the bid, you know you're gonna lose money." This is similiar to what I look for when I'm in a trade. If I'm long, I want to see the market in a "hurry", preferably with shallow pullbacks. I want the guys who were late and waited for confirmation after confirmation because they want to play "safe" to have to chase the price... since I took the "risk" to buy it first as it was falling, at key prices.

http://www.youtube.com/watch?v=9CS_AbTtAUc

I always get a kick out of watching Pete Millman... "As soon as it broke through [resistance], I got monkey long, just bought as many as I could".... :p

http://www.youtube.com/watch?v=MGE6xUELYu4
 
Quote from Instynct:

I
Towards the end of this next video he says something to the effect "when it's so easy to buy on the bid, you know you're gonna lose money."
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I question the reliability of this assertion. I've heard this said in the past but have never seen any evidence to this effect. The "hard fill" is more likely to make money;the "easy fill" more likely to lose.

Why?

If "you're very right" you're also early in the que you get filled easily. Your chances are better at a successful outcome not worse. right?

I hate blanket generalizations that have little or no basis in fact.
 
Quote from Instynct:

I think the conflict is created, at least for me, when you put a label on yourself as either a scalper or swing trader. If you put yourself in the mold of a scalper you will miss out on big days when the market grinds in one direction because all you will think about is scalping for small profits. Likewise if you only consider yourself a swing trader you will hold out for larger profits and let those smaller unrealized profits (2-5 pts) go to waste if the market never trends. I think it would be best to focus on price action and manage the trade in a way so that you can lock in profits and give yourself a chance to pick up those large winners as well. Some days you keep those stops tight, and some days you loosen them. Even though most of my winning trades are small (2-5 pts), sometimes I do get those big winners too. It’s all a function of my trade management and what the market is offering for the day.
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You can't have it both ways imo. You either have small profit targets in mind when the trade is taken or larger profit target. You seem to get get stopped out a lot for a trader swinging for the larger target. You seem to take a lot more trades than the trader swinging for the larger target. You seem to want the best of both worlds. Large targets and small stops. Who doesn't lol but are those two goals mutually exclusive? :confused:

Edit: Or you used to. I just looked at your recent entry here. you've seemed to cut down considerably on # of trades recently?
 
Quote from Maverick1:

I do, I'm long that and think it's going much higher over long term. :cool:
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:) I didn't think I could fool you Mav, that is indeed my equity curve ytd. I posted it because I thought it was amazing how remarkably similiar an equity curve can be to a stock or futures chart. When the lows break they get retested before heading back down further. When the equity makes a higher low, it then makes a higher high, as if the "buyers" saw that and rushed in to buy. If my equity pulls back to that blue line I can assure you guys I am not doing it on purpose with my money to prove a point. :p

I have made some changes to my trading and will explain it in detail in the weeks to come. Just want to give it more time to work itself out. Mean time happy Easter to everyone!
 
Adding to winners is new for you isn't it ? Nice.

i haven't put that in to my trading plan yet but expect to this year.

i'll be back trading in a couple weeks.
 
Quote from Instynct:

Only one trade sequence so far today, but played it to perfection. +170
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are you going to be scaling in/out 2 contracts as part of new improved strategy or was this just one trade today and will continue with 1 contract execution as usual.

when you said "played it to perfection" does that mean you had waited all day for a setup per your trading plan? did this setup allow for 2 contracts per your strategy?

looking forward to more of your posts.

regards,
tihfa
 
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