How to trade the Emini Nasdaq intraday?

Discussion in 'Technical Analysis' started by Carl Granz, Apr 21, 2012.

  1. Any suggestion by experienced traders would be appreciated

    I'm starting trading on monday

    I mainly use two charts

    5 minute with 3 EMA and fibonacci autoretracement levels + Bollinger Bands 20,2

    15 minutes for a more large view of the instrument related to the previous day (OHLC), and Volume by price

    I'd like to trade 3/4 times in a trading day, not more

    Most traders use to trade the open for a gap fill with a tight stop
    What can you say about that?

    Are you watching leading tech stocks such as AAPL, MSFT, ORCL, INTC, QCOMM, or it's not advisable?

    Thanks all!
  2. Have you tried this approach out on a simulator? If so, was it working?

    Because my first suggestion to you is to make sure you can make money with it on a good simulator. If this actually works, the market will be there when you're ready to go live.
  3. You're starting to trade on Monday and yet you also said you like to trade 3/4 times in a trading day as if you're saying you've already been trading. :confused:

    I hope you meant to say that you're going to begin studying the price action on Monday and that you didn't meant to imply you're actually going to be trading with real-money.

    With that said, use a simulator only while you're developing your trading plan for trading the Emini NQ futures because "most traders" did not use to trade the open for a gap fill and "most traders" still do not trade the open for a gap fill...whatever your source was about what "most traders" are doing or use to do...get rid of it (seriously).

    My recommendation is to develop a written trading plan, study your charts for several months in real-time streaming price action prior to making a single trade. Spend most of your time developing a trading plan around psychology of the trader, discipline, money management, proper capitalization, position size management, proper trading instrument for your trade strategy, stress management, proper broker platform, proper trade workstation, proper trade environment...

    Hopefully after you've done the above you'll have designed a suitable trade method that works well with the above.

    Too many newbie traders concentrate too much on their trade method instead of arguably the more important things involved in a trading plan that more often than not will determine your longevity in this business of trading.
  4. That's all?
  5. and go automated
  6. What were you expecting?