Did anyone make money today? I don't know how. I watch ATR very closely, today on 5 minute chart we were well over 20 and even hit 28... to put that in perspective, even a huge day like yesterday and the ATR was 16 -20. All I did today was get whipped out of 3 trades for stops and done for the day.
Todays daily NQ cash range was the smallest for a week , was a trendless choppy day , it happens . These high vol relatively small range days have a probability attached to them moving forwards , Bit of a balance developing between buys and sells
No, I lost money because I tried to day trade the March contract (because I had to, long story for another day.) That negated the money I made in the past few days day-trading same contract.
What pipe are you smokin'? "High-volume relatively small range days"? In NQ? You sure you ain't confusing this with ES? Volume matters not in NQ, sir. Only range. Unless you're a "volume trader", whatever the hell that is. This is NOT the ES where volume is king. Were you looking at the NQ a year ago? If so, how could you say this was a "small range day"? I am seeing a nearly 800 tick range for today. That's nearly 200 points.
trendless choppy? The high to low range was 188 points. If you cannot make money on a 188 wide day on NQ then again, the problem is not the instrument or the day it is you. BUT WAIT....what was the REAL range... NQ opened at 6694... AND RAN 100 points up.....!!!!!!!!! Guess what it did after 10am est? Dropped over 100 points back down. I will give you a guess what happened between 10:30AM and11:30 AM... Cmon....take a guess...I think you know.. YES it ran 100 points back up! Wait wait........what did it do after 11:30 AM...oh my .....this one is the toughest question... YES it dropped 100 points again! Basically NQ moved 400 points up and down total... 400 POINTS If that is trendless and choppy and untradeable then stay out of the adult intraday pool.
I wasn't going to say anything, EL 85, until you edited your post to add that little red highlight. Way to rub it in! *rubs temples* *SMACK* lol
Oh really,,, it is just so easy when we look backwards. Unless you were running like 60 point (not ticks) stops , I do not see where there was anywhere to enter long or short and have it play out. I run my stops at 15 points which is usually more than enough to get in on a good entry signal and stick with it. All three of my trades today stopped out in less than one minute of entry.
John, Ocho and I were lamenting about PistolPete's comments. It wasn't directed to you. Cool your jets.