My nq price action method

Discussion in 'Journals' started by slugar, Sep 1, 2013.

  1. pokito

    pokito

    3070 support and 3120 resistance, db?
     
    #21     Sep 2, 2013
  2. slugar

    slugar

    Yes there are times during the day I can observe and I have Wednesdays off every week to observe also.
     
    #22     Sep 2, 2013
  3. dbphoenix

    dbphoenix

    And what are those times?
     
    #23     Sep 2, 2013
  4. slugar

    slugar

    8:30-9am cst and 11:30 till 12:pm. plus I can replay the markets on my platform if I need to.
     
    #24     Sep 2, 2013
  5. dbphoenix

    dbphoenix

    This won't work. The market can be unbelievably accommodating, but it's not likely to be accommodating enough to provide you with excellent trading opportunities in such tiny windows.

    Therefore, all your research and testing will have to be done in replay. This should be done in 1x at the beginning so that you don't obtain an unrealistic view of time. This doesn't mean you have to go through an entire day in 1x, but you should at least replay two to three hours.

    Yes, this will take time. But the point of it is to prepare you for real-time observation and, eventually, trading. If you breeze through it, there will be no benefit.
     
    #25     Sep 2, 2013
    JefeTrader likes this.
  6. Anything to be gained by watching the over night action?
     
    #26     Sep 2, 2013
  7. Better use of time would be to do playbacks of reg. hours.

    If you are going to trade overnight then watch overnight.

    If you are going to trade reg. hours then watch reg. hours.
     
    #27     Sep 2, 2013
  8. pokito

    pokito

    Doesn't look like DB wants to respond.
    Sorry for butting in Slugar !. Good Luck to you
     
    #28     Sep 2, 2013
  9. That or he has a life outside of ET. :D
     
    #29     Sep 3, 2013
  10. slugar

    slugar

    So today I begin my observation stage of learning to read the tape, I will post how I saw todays market action afer I've had time to watch a couple of hours of market replay. Thanks to everyone who has lended a helping hand in my learning process.
     
    #30     Sep 3, 2013