Oh dear, another misunderstanding... Peter10 was responding to OchoCinco's post about the jokey bit about being from Nigeria. You have confused Peter10's response as being to directed to you, Trade4. It is a joke about the Nigerian prince spam e-mails that used to circulate (and maybe still do?) in e-mail systems. Anyways, Trade4, go ahead and do the journal thing, never mind that Nigeria exchange.
Trade Update Scalped +$180 for Asian market so far for today $2000+ on NQ done for the night! I just can't thank enough to El Cinco I think you just showed me the road to become rich and healthy trader. lol
El OchoCinco, Your trading mindset is sort of like mine. It doesn't sound like you are a mechanical or rule based trader, but more on the gut feel, take what the market gives you mix in with a semi discretionary/mechanical based trader. Am I correct? I don't wanna be in your business , I am just asking. Cause my trading is sort of like free styling, I just trade and track my performance metrics. Either way I like how you trade and I have traded the NQ and TF before, both swing very well.
Not so free style....It is based on price action and layers of support and resistance looking for entries I feel have the best chance to profit from a scalp or small runner. It is not mechanical rules based where I take the trade when x crosses y or indicators but price action, layering of support and resistance and reading the candles (yes I love candles but I don't follow the 3 crows banging or downward dog star stuff). It is hard to be consistent over time and find leaks without consistent parameters to take trades. I can go back at the end of the day and see if a trade was good or bad, regardless of whether it made money. Sometimes we have a bad entry and it goes our way and I want to avoid those. Futures trading is not the same as what I did 2 years ago because I learn. The problem is even if I told you eveyrthing I have up on my screen you just might not see it the same way I do. That is why I always tell people hours to years of screen time develops the eye and filters out bad things over time. You have to have some basic rules/system to define what you are looking for or you will be too much a reactionary trader and get whipsawed into losses. Being an option trader primarily helped me because option trades can be planned out/modelled/analyzed before entering the trade. For futures you don't have the same amount of time but I still prefer the analytical approach of looking at a set up I feel should work and then studying 30-40 days of intraday historical charts and see if what I said hold true (i am more logical and analytical then people would guess). Also looking at 30-45 days at a time studying I start to see things repeat and then I look for price action clues and S/R to see how to enter into trades. Also I am fine with 1-3 contracts. Not trying to bust my nut in one day. Lots of littles on a regular day adds up to quite a lot over time versus trying to hit 5 digits on one scalp.
Trade Update Did another Scalp +$200 with NQ total Asian market +$365 in last 12 hours up over +$2200+
Trade Update took another Scalp on NQ total Asian market trade +405 total today +$2300+ I wish I was holding for few more mins could have been a $800+ trade for Asian market
I'm sorry for not being at dime and cents as i was just putting a whole numbers.. I have updated my screenshots, up +$700 for the asian session with NQ
I'm going same as i did with ES but the results are 200% to 400% more on NQ based on my personal ES strategy.. Like i said i would have not know soon enough if you were not posting your results on NQ as i have never paid attention to NQ