Congratulations on your trades! I've been following this thread for awhile and I'm impressed. I don't know if you plan on revealing your strategy, but I figure I'd ask anyway. How do you come up with your S/R numbers for each day and what constitutes as a valid signal? I appreciate any info!
Thanks guys I appreciate that. System is base on market profile. Beeker ,I am guessing your question is what constitute a valid signal when price does not hit the S/R line? In cases like these I apply a wiggle room rule. When price come within the following I look to enter trade. YM is 7pts ES is .75pt NQ is 1.75pt ER is .5 So say have NQ long at 1888. When price gets to 1889.75 I start to look to go long. Here is tomorrow Roadmap.
Whew! What a wild day. I made some good money but there was certainly alot of signals being hit. The total is 5 winners and 3 losers. One of my best trade is short NQ 1944.5 and rode it down til the close for over 20pts gain.
do you basically rely on trendlines and previous support / resistance levels to determine your long & short entry points? Thanx for your insights.
I think trend lines and previous support and resistance lines are too obvious. Basically any one can draw a trend line. If trading is that simple then we all can use trend lines or previous support and resistance and make a killing trading intraday. My point is anything that is too obvious won't buy you a cheeseburger at McDonald.