<i>"Hi Austin, What would be a good volume chart to use as the filter chart if you use the 1000 volume chart for entries on the N.Q."</i> Using volume or tick charts is one place where different settings unique to each symbol makes a difference. A 1000-volume chart for ES, NQ and ZB will give drastically different views. The best way to configure tick / volume charts is for each person to fiddle around and see what looks best to them, per chosen symbol. I don't actively trade the NQ. although it is an excellent symbol. Until I work my way to 100-lot orders in ER2 there is no need for my working elsewhere. The NQ is usually a trendy, directional symbol with minimal chop = noise. It does tend to surge out of consolidation on breakaway bars more than any other emini. That's one of its specific quirks. My suggestion to anyone is dial around with different settings until you find what works best for you. I struggle mightily with real fast charts... triggers all the wrong emotions in me. Other traders I know do extremely well with the exact same charts I struggle with, and they dislike my preference for slower charts. That's one reality of this profession. Working at the pace of which our minds perform & emotions handle best is critical. Much more important than what someone else chooses to do. Just one of those things where personalization matters most.
Hi Austin Thank you for the elaborate explanation. I think as a rookie, it may be best to stick with one chart (10k V) as I'll be able to focus on the basics better and won't be distracted by the 2nd chart. Also, like you said, there's no need to catch everything, wanting to catch every trade -> scarcity mentality -> distort reality -> bad trades. JW
I use the 1 day chart and 4 hour chart. I mostly follow the 1 day chart for the bigger picture, but looking at the 4 hour chart provides a better picture. I get caught in the trend within the main trend.
My take, still long on the vast majority of the contracts, haven't seen a reason to close it yet. Waiting for 90s test. I don't use open or close as price is continuous. Dots confirm the 3BR for illustrative purposes, I don't use them much either. Hope it helps. Anek
Anek, Nice to be able to study your chart again. How did you know that the dip at 14:13 had no chance against subsequent up move? Thanks! Holt