My nq price action method

trades 1. db long 3555.25 s 3552.25 target sh of premarket 3565.2.dy short 3558.50 s 3561.25 target sl 3548.25. 3.lw short 3444.50 s 3448.50 target sl of 3541.4. hl long 3528 stop breach of umtl target 3547 last swing high. 5. lh short 3512 s3515.25 target breach of umtl.6. 6. long higher low 3507.75 stop 3503.5 target 3516 swing high.7. highr low long 3512 stop 3509 target swing or breach of umtl. 8. dt short 3517 s 350.25 target 3507 congestion area. 9. bottom of range long 3507.25 target top of range or breach of umtl stop 3502.75 10. double top short 3527 s 3530 target top of congestion are 3510. last trade db long 3509 stop 3506 target swing high of 3524. all in all the best day I've had on a demo

 

Just reviewing your trades…, allow me to post the form a trade plan should take

Trade plan (created for each trade)

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


I’ll reserve any further comment and simply ask you to be the judge…,

Does each trade’s plan below…, follow the above format – in order…, and/or in detail (rhetorical of course)

Trading is..., one big repetitious…, and exacting – routine

Back in a bit

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

trades

Trade 1.
db long 3555.25
s 3552.25
target sh of premarket 3565.

Trade 2.
dy short 3558.50
s 3561.25 target
sl 3548.25.

trade 3.
lw short 3444.50
s 3448.50 target
sl of 3541.

Trade 4.
hl long 3528
stop breach of umtl
target 3547 last swing high.

Trade 5.
lh short 3512
s3515.25
target breach of umtl.

Trade 6. 6.
long higher low 3507.75
stop 3503.5
target 3516 swing high.

Trade 7.
highr low long 3512
stop 3509
target swing or breach of umtl.

Trade 8.
dt short 3517
s 350.25
target 3507 congestion area.

Trade 9.
bottom of range long 3507.25
target top of range or breach of umtl
stop 3502.75

Trade 10.
double top short 3527
s 3530
target top of congestion are 3510.


Trade last trade
db long 3509
stop 3506
target swing high of 3524.



If the trader not consistent - neither will the trader's results be - fact



RN

 

trades

Trade 1.
db long 3555.25
s 3552.25
target sh of premarket 3565.

Comments

Entry – Sucks – you entered @ the top of those bars – with the tails on top

Stop – breach of bottom of bars - good

Target – sucks (why – because why should price want to go there – I’ve no clue)

I’ll skip the formalities.

What does the dashed green line note between trade 1 and trade 2??

Aside from being risky as hell – I can’t see a reason to enter long here – weakness preceding the entry…,

Price never reaches your target… and I’ve no clue how you managed this trade – so I'll assume it a stop out for a loss @ 3552.25

Here is how I see this (your) trade (not how I would have or have not traded it) – enter long at the top of a bar – get stopped out for a loss at the bottom of the same bar / aka.., Entered long – when price had not even cleared the previous weakness


Trade 2.
dy short 3558.50
s 3561.25
target sl 3548.25.

Comments

Entry – What the hell is a dy signal (I could guess – but I won’t) (entry good)

Stop – is too generous – breach of DT

Target – Makes sense – but what the hell is sl – swing low…, or stop loss – again me with the guessing

Now you could say well dumbass – it follows the order of entry / stop/ target – so the sl must be swing low – at which point I would direct your attention to trade 9 please


trade 3.
lw short 3444.50
s 3448.50 target
sl of 3541.

Comments

Entry – What is a lw signal – and your entry price… is off the fuckin chart – literally (3444.50????????????)

Stop – I suppose if your entry off the chart – so too should you stop – wtf

Target – you shorted @ 3444.5 – and your profit target is 3541 – mmm-kay… or is that sl for stop loss – inquiring minds and that sort



Trade 4.
hl long 3528
stop breach of umtl
target 3547 last swing high.


Comments

Entry – Solid

Stop – Solid

Target - Solid

Though I gotta admit shorting 3444.50 is still boggling my mind


Trade 5.
lh short 3512
s3515.25
target breach of umtl.

Comments

Entry – Solid

Stop – Solid

Target – sure that is not a breach of the DMTL – it is a short


Trade 6. 6.
long higher low 3507.75
stop 3503.5
target 3516 swing high.

Comments

Entry – Solid

Stop – Solid

Target – way too damn optimistic – been weakness all day – should have been 3510 at best


Trade 7.
highr low long 3512
stop 3509
target swing or breach of umtl.

Comments

Entry – Going long into resistance – too risky of a trade – should have waited till price BO – or not

Yes you did denote a range…, yes price was out of your range – but weakness all morning long.., and price facing resistance just out of your range

Stop – Why not draw a UMTL and make a breach of it the stop

Target – what f’n UMTL – either I’m blind or its missing – so I’ll draw one… as for price hitting the swing – what f’n swing

God I need glasses - I can't see any of this



Trade 8.
dt short 3517
s 350.25
target 3507 congestion area.

Comments

Entry – Solid

Stop – You’re kidding – right - please tell me you're f'n kidding

Target – that whole f’n area I have in yellow is congestion – where we talkin - just pick any congestion ???- fine 3444.50 is as good as any



Trade 9.
bottom of range long 3507.25
target top of range or breach of umtl
stop 3502.75

Comments

Entry – no patience for a retest – so we enter long soon as our pecker feels the slightest breeze of an up move???

Stop – oh wait this is the target – top of range – good / breach of UMTL – which one – you drew 2… and I see one not drawn (allow me )

Target – oh wait shit... now - it’s the stop – Good


Trade 10.
double top short 3527
s 3530
target top of congestion are 3510.

Comments

Entry – good if you mean the red line I drew – otherwise I do not see a DT

Stop – good

Target – again with the congestion area – be specific – that whole area is a congestion cluster fuck by now

Trade last trade (Thank God)
db long 3509
stop 3506
target swing high of 3524.

Comments

Entry – I do not see a DB – I see a HL – which you used to draw an UMTL

Stop – Why @ 3506?????

Target – you’ve got to be shittin (with all the congestion) – make it a breach of the UMTL and be done with it

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

Maybe it was your best day… and maybe I am pissin on your parade… but

Doing something once – its called luck

Doing something repeatedly – that is a skill

And you are seeking a skill

Need to tighten things up - considerably Slugar

RN

 

Hi.
Redneck. Do you only trade FB each day and nothing else? Don't think i've heard of someone concentrating on only one stock before.
If so, can you explain why, as opossed to trading something like the NQ or ES etc?

Depending on how my account looks in a few months after a period of attempting daytrading equities, I might give it a go.


Regards.

 

I trade stocks – as opposed to futures / options / commodities / bonds . etc. – because.., I am a stock trader

Day trading – I have a short list of stocks – of which I only trade 1 at a time – and until it dies up – then I'll move to another

Yes, I focus on only 1 instrument at a time – long as it moving enough.., and has the liquidity - what do I care

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

Funny you mention this though – why does no one ever question only trading ES.., or NQ... or CL..., e Mini's.., or Bonds

Anyway

Trade Well

RN

 

Long Ago I day traded IBM for five years, only stock I would touch until the exchanges went from fraction of dollar to cents, I'd still be trading it today had the change never occurred. It was easier to get all my shares at same price by giving up a little, but now people fight for less than a penny. I think each instrument has it's own personality and by learning what it does during the day, better for me. ES certainly trades much different than Nasdaq.

 

Absolutely agree

RN

 

Probably margin requirements.

Gotta have a fair sized account to daytrade stocks, while you only need a few grand to trade futures.

 

Yeah that PDT rule/ margin requirement - another needless regulation imo

Good to see Ya DD


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

btw, anyone wondering - Slugar is traveling today - don't think he'll be back online till tomorrow

RN

 

I saw early on today by huge bars on two minute, it wasn't going to be bar of choice, I dropped down to one minute and started to trade exactly as I always done. Same rules, stops, patterns, nothing ever changes if you trade long enough.

When I am confused, I stop trading unless I can use Price Patterns to show me another reason to get in. If Volume not making sense, got to have congestion of support or resistance and then get in cheap(near S/R) and risk next to nothing. I lack patience in Price patterns, it either has to take off in my direction pretty quick or I am taking a tick of profit. I am watching the DOME to see which direction the price wants to go by looking at nearest volume on ask/bid, the one that gets down to zero first will either go up/down to next level. This isn't Rocket Science, but people think it got to be a lot harder than it is, too many years of society yelling you have to have good grades to get ahead, really who cares what grade you got for History4 in college to make some money looking at little lines on a screen. Am at Starbucks trading on 17 inch screen, hooked into PC at home, brought my Organic Half & half for coffee, life can't be much easier than this. My old man would be so angry at me cause I wasn't really working at a job that meant something like building houses. We all have our demons.