Doggie, let an old man (I've got grandchillins older 'an you) give you some madvice: use a three tick stop. Stops are like pussy, the tighter the better. This is coming from years of experience trading NQ. If it goes south by more than 3 ticks, you are daid wrong. And do me a favor, good or bad, post your trades with time and time zone. I'll hep with critiques iffn yo wants.
Make sure you are consistent in sim before considering live. I noticed you said you have been simming for 5 months but didn't say you are consistently profitable. By consistently profitable I mean at least not losing on a weekly basis for 1-2 months. No reason to piss away real money live if not consistent sim. Best of luck. YoungOne
yo zdawg i'm in the same boat as you, just a year older. i just sent out my initial $3000 to get started, and like you, i'm gonna be going live on monday. should be an interesting journey for us both. good luck to your first day!
Yeah I'll probably do that. I don't know if you have ever used ninjartrader, but it's pretty neat when it comes to showing your trades on the chart. Great "iffin aaii wanna" be critiqued
Yeah, I was gonna bring this up. I might trade on paper for the next week, and maybe start the following week. Yes, I am mostly consistent, AT LEAST 3/5 days profitable on sim. Thing is, that can easily change to 4/5 days out of 5 if I just work out these little kinks in my system; For some reason, I am hesitant on entering some trades even though I know statistically I can most likely profit off that trade. I don't know if you think I am completely unready for this, but I think maybe an extra week of PT might be in order. I mean, I got my system, I just need to work out all the kinks of the execution and pulling the trigger
BTW, in case anyone wonders, and I haven't said this yet, I am only going to stick with one contract. If I can double my money, we'll see, but for now, it's 1 for sure
Your main problem as I see it is finding qualified trades during your limited time period, 10-12 is just not going to give you that many set ups in my opinion. Based on your criteria, I would guess maybe 2 per week, 3 if your really lucky. On any given day the NQ may challenge 3 key S/R levels and break out 3 legitimate times during the course of the whole day. I see your biggest challenge as making up trades that don't exist due to this limited time window to trade. Good luck with that.
Good luck on your summer job. You are way ahead of the curve to even know what the NQ is in high school. I know you will be concentrated on the $ aspect, but regardless of the outcome, keep learning and studying if this is truly what you want to do. Time is on your side and you can begin your trading career now.
Well, maybe I'm looking at this the wrong way, but I usually see the NQ hit 3 times S/R during my trading time. Don't forget I also trade any temporary highs and lows of the day, so in fact I do manage to get in some good opportunities in my limited time