My nq price action method

C - I can buy - but the stop a little big possibly??

D - There were several lower Hs at the down thrust from C - what about those - and what makes "D" special / stand out enough to short near the top of it (eta my mistake - I can see why )


If you'll add in the signal you use for each entry - it'll stop me from guessing (I suck at guessing)

RN

 

Here is my chart of the nq 500 ticks. Trade 1 was a retracement to the supply line. Trade 2 was a double top short that I should have given my 1st trade a little wiggle room with. Trade 3 was a long that was stopped out break even with the demand line break. Trade 4 was a double long. Trade 5 was another short on a double top that was stopped out very quickly and then a re short on the retest of the double top that I should have just used a break of the double top as a stop. last trade was a long off of the demand line.

 

You sound like a trader... and.., based on above - trading like one

Trade 1/ 2 - we enter / we exit - based on what we see... never knowing what the next tick holds - nothing wrong exiting 1.., then re- entering right back @ 2 - that's what price said to do

Trade 3 - stopped @ BE - sweet

Trade 5 stopped out quickly - the reentered short immediately (because price said to) - epitome of trading


Actually all of them..., are examples of what make up good trading

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Thank You for adding the signal / stop - lot easier than me guessing


Get some rest - we'll do it all again tomorrow


RN

 

Thanks RN you're the best!

 

Naaa - we're just a couple of dumbass traders who know nothing

RN

 

Slugar

I know you want to study MP... so for now I'll step back and out of the way

You have any questions I may be able to answer - just say so Sir

Good Trading

RN

 

I'm mainly interested in mp for support and resistance. I will post my charts every evening and I would love your feed back! Thanks RN

 

onward we go then

RN

 

Here are the trades for Friday on the 500 tick chart. 1st trade was a short on a retracement to the supply line. Trade 2 was a short off of the steeper drawn supply line.Trade 3 was a long on the retracement from the demand line and also a higher low. 4th trade was a long from a higher low that was exited at the double top which was the 5th trade and a short which was exited on the trend line break around 1:30. thanks RN for taking time from your busy schedule

 

Trade plan (we create for each trade)

1.) Signal / entry
2.) Initial Stop loss
3.) Target / way of managing trade


The plans for each of your 5 trades is / are incomplete


When trading..., our actions must be in step with price… to do this we must always be one step ahead of price in our planning (so we know what we will do when price does ????)


An incomplete plan - leads to indecision

Indecision leads to many things..., none of which are good
(as usually we only have a few price ticks..., or seconds to act prudently (loss is still BE or low)

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Before I comment.., please fill in the missing pieces of each of your plans – otherwise I’m back to guessing

I suck at guessing

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Here’s the pared down version of your post


1st trade;
short on a retracement to the supply line.

Trade 2;
short off of the steeper drawn supply line.

Trade 3;
long on the retracement from the demand line and also a higher low.

4th trade;
long from a higher low
exited at the double top which was the 5th trade

5th trade;
short which was exited on the trend line break around 1:30


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With a complete plan – I know what to do next

When I know what to do next – I could give a crap what price does - I'm covered either way


RN