I sold NQ today at the red arrow... as you can see market closed there on the 5min bar, then on the next 5 min bar, it opens at same level but then makes a large wick above the open/close level very briefly before closing lower.
Then you can see on the next white line arrow, near the same level I sold, we make another wick higher before closing lower again.
Then later around 9am PT, we can see market making a HL and I buy at the bottom as well noted by the yellow arrow. However market chops/balances for almost a hour before deciding to rally higher.
So the science behind the trading I understand to see where big money usually comes in. My only problem is the stop hunting/poker playing/and starting to get wishywashy when the market takes it's time deciding what to do, whereas for the most part I feel like I already know where the market is gonna go next, I dont understand why it must take 1 hour+ to finally move. I dont understand the fact that it knows for example 7182 is the level, but yet makes large wicks past the level to hunt out stops.
My question is how do you other traders manage the "art" behind trading?
I don't use candles, I started long ago before computers and hand made my charts, but I see the same chart as you. Nq is often traded by either those starting out or professionals who will always be better than you as often times young traders will push NQ further along after Professionals already in. I have studied at great lengths for myself to understand what price does on lack of volume and often causes "wicks", if you study market profile, volume often looks like outline of a face, more volume in off center and much less on one side of a trending bar. I believe the wicks are caused by some professionals in NQ to draw in the inexperienced to nail the stops but much less so to actually make chart patterns. But I believe the new trader gets drawn into areas of wicks while non wick areas are where professionals are either taking profit or adding to their positions.
For past 30 plus years, I am generally a scalper for intra-day, until year ago when I made my first day trading system-I never traded with the trend. Until I got into automation, never used stops, it be like an extra thing to remember, but now with automation, have to put in something. So my first targets is like $50-62 and I am risking $200-238, on weekly basis losses under 5%, and reasons are is I understand waves and swings lengths, ie. whereabouts will trend be considered to have changed. So if you getting stopped out much, widen the stop, but this does not mean to let the stop be hit, I think most traders know they have taken a bad position based on highs going way to much against them. They still Long, so to have reduced highs/lows, when you know trend has changed, next move up even at small loss, take it rather than be nailed for larger loss, stair stepping against our position not good way to be and if market rallies little, don't let "hope" come into your life=get out. "Time", many people don't spend enough dealing with "Time", going over past 3,000 trades, what in time captures 90% of you winning trades? So now you know using that amount, if a trade goes beyond this about of "time", make you new target your entry price, do it automatically so you won't allow "hope" to sneak in.
As far as
"Language", I understand you just fine, I think your questions are better than most and most don't study the markets themselves, they work at making systems. NQ might be wanting for reports of how the underlying stocks are posting earnings, or government reports, world reports, interest rates and like Italy can make a moving market or stall it, are tariffs going to happens as that is tech, so there is much waiting till time is over for waiting, and sometimes HFTs can start a movement in NQ, less in the ES.
Hmmm, art is years of backtesting and just many many hours of looking at just one chart. I started something long ago using one chart which I still have, day session of it, apply a name to each bar, but each bar has to be tested before you can give it a name and it can be in with a group of bars, but the more time you study the charts, more tested stats you will have.
The longer you are a trader, you develop an understand of where you get in makes so little indifference so long as you can read a char, so traders do breakouts and often times where they getting in, I am taking profit on half my position, I can't stand breakouts, they are "feel good" entries at a cost, larger stops and less profit potential.
And no, I stopped mentoring, working on other project.
Good luck.
