My nq price action method

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

  1. Redneck

    Redneck

    Make a plan for each.... then work each plan to completion

    Good Trading Today

    RN
     
    #441     Apr 28, 2014
  2. ammo

    ammo

  3. slugar

    slugar

    Thanks ammo
     
    #443     Apr 28, 2014
  4. Handle123

    Handle123

    For those who only do Price Action, this has always been one of my favorite entry signals. I call it "Weak Hands Signal".

    I wait for trend to change as in a Close beyond a trendline, then in so many bars, price must come back to trendline for entry in direction of trend. Reason I call it "Weak Hands Signal", often many get in on breakout of trendline then put in their breakeven or protective stops and market comes roaring back to give them the loss or breakeven losses they so richly deserve (I say this cause if one doesn't learn from mistakes like me when I first started, you can do this stupidity for a year or more.) Of course I miss out on the trades that don't come back and I get nailed for all losses, BUT, I profit on many more than I lose with this signal. Now of course this is but 1% of a system and entries means but a very small part of a completed system, and the 99% is called Money Management where the profits come.
     
    #444     Apr 28, 2014
  5. Redneck

    Redneck

    Stick a fork in me – I done

    For anyone who takes (interprets) what I post – as trading is easy

    Today was anything but – for me

    Felt like a yo yo – I was up/ down so often it was simply pitiful

    If not for the volatility (which I’ve said numerous times makes up for piss poor trading.., and I still hate) – likely I’d be down

    Just could not find my rhythm to save my ass – and I traded piss poorly

    Any way – quitting while I’m up

    ================================

    H123

    Thank You for sharing Sir

    I especially like the built in.., easily identifiable – small stop


    Good stuff :)

    RN
     
    #445     Apr 28, 2014
  6. slugar

    slugar

    Mondays 500 tick. 1. Double bottom long at 3523 stop of 3521. 2longon a.retracement to the demand line 3540.25 stop 3537 exit on the double top. 3 short on the double top at 3560.50 stop of 3562.75 exit on the supply line break. 4. short on the lower high at 3550.25 stop of 3553.50. exit on the supply line break.5.short at 3529.25 stop of 3531.50 exit on the steeper supply line break. 6. short on the lower high at3510.50 stop of 3513.75 exit on the supply line break.7. long at double bottom 3484 stop of 3481.50. last trade long at 3492.50 higher low and bounce off of the up trend line. stop 3488.25 exit on demand line break. Seems I am re entering a lot in the original direction of my trade. not sure what to do about this?
     
    #446     Apr 28, 2014
  7. slugar

    slugar

    the afternoon
     
    #447     Apr 28, 2014
  8. slugar

    slugar

    RN that's why you are a successful trader you know when to stop:)
     
    #448     Apr 28, 2014
  9. slugar

    slugar

    initial resistance between 3560-3566. support 3528-3521. if we get below 3521 then 3491-3487 may come into play
     
    #449     Apr 28, 2014
  10. Redneck

    Redneck



    We'll address this..., after we address below

    Trade plan (created for each trade)

    1.) Signal / Entry
    2.) Initial Stop loss signal / Stop loss price
    3.) Target / Method of managing trade

    ==========================

    Missing data – recall I suck at guessing



    Trade 1

    Double bottom / long / 3523
    Stop 3521.


    Trade 2

    Retrace to the demand / long on a. line / 3540.25
    stop 3537
    exit on the double top. (on / or a breach)


    Trade 3

    double top short / 3560.50
    stop of 3562.75
    exit on the supply line break.


    Trade 4

    lower high short / 3550.25
    stop of 3553.50.
    exit on the supply line break.


    Trade 5

    short 3529.25
    stop of 3531.50
    exit on the steeper supply line break.


    Trade 6

    lower high short / 3510.50
    stop 3513.75
    exit on the supply line break.


    Trade 7

    double bottom long / 3484
    stop of 3481.50.


    Trade 8 (last trade)

    higher low long / bounce off of the up trend line / 3492.50
    stop 3488.25
    exit on demand line break.



    Redundant..., ain't I :)

    RN
     
    #450     Apr 28, 2014