My nq price action method

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

  1. Redneck

    Redneck

    Huyang

    We must remain mindful - this is Slugar's Journal.., and Journey

    btw.., I don't trade futures - rather I'm a stocktard


    RN
     
    #521     May 1, 2014
  2. Huyang

    Huyang

    RN: It was very kind of you to remind me. I will definitely be mindful about that this is Slugar's journal. I mentioned learning to trade NQ implicitly indicating my questions will be directly related to Slugar's journal because Slugar trades NQ too. Reading carefully the detailed response from you and other traders regarding Slugar's trades would have already answered many of my questions. I will try not to ask you more than 3 questions. PA trading in essence is similar for all different kinds of markets, as far as i think. Thanks.
     
    #522     May 2, 2014
  3. Redneck

    Redneck


    RN
     
    #523     May 2, 2014
  4. Redneck

    Redneck

    Callin it a day

    Monday was a bitch - today - not so much... good idea to reward yourself when you can



    Slugar

    I'm going to repost your chart from yesterday and highlight something

    back in a few

    RN
     
    #524     May 2, 2014
  5. Redneck

    Redneck

    This goes back to the statement I made about S&R…

    And how S&R work the same... and how they are labeled based on their relation to price

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

    I noted 3 areas – with a purple lines and circles – where R flipped and became S



    When trading – I don’t mark these areas (makes the chart too cluttered) – but I do see em…, note em in my head… and play (trade) off em when they are in play

    Iow – I use these realtime…, as another confirmation data point (always searching for the clues and queues)

    RN
     
    #525     May 2, 2014
  6. Redneck

    Redneck

    Just missed a good size DM

    Doesn't matter - I called it a day



    Point is;

    Learn to separate & let go - relax - there will always be another trade waiting in the wings

    Too often we try to make things happen - makes for stressful trading - and costly mistakes

    RN
     
    #526     May 2, 2014
    jsmacksem likes this.
  7. Handle123

    Handle123

    Yabba dabba do

    RN, can you define some of your abreviations? I not too bright. grin
     
    #527     May 2, 2014
  8. Redneck

    Redneck

    Which ones Sir

    DT - double Top
    TT - triple Top
    DM - down move (I trade moves... not trend - which is not to say I ignore the trend - ever)
    UP - up move
    UMTL - up move trend line
    DB - double bottom
    DMTL - down move trend line
    TB - triple bottom
    S&R - we all know :)
    BO - break out
    BOD - break out down
    BOU - break out up
    Zone - range
    Any others??


    btw - I sometime use the term TL - for diagonal or horizontal lines - they do / serve/ represent essentially the same things

    RN
     
    #528     May 2, 2014
  9. Redneck

    Redneck


    LH - lower high
    HL - higher low
    RBOD - range break out down
    RBOU - range break out up
    SL - stop loss
    UMTLS - up move trend line stop (breach of the TL)


    wtfaid / wtfait - what the F am i doing / what the F am i thinking :p

    RN
     
    #529     May 2, 2014
  10. slugar

    slugar

    Thanks RN I will post my chart later but it might be this evening
     
    #530     May 2, 2014