Ok, starting a journal on my futures trades. I see many journals on here saying "short here" "long here" with no explanation. And the few that have explanations, say "macd crossed here" and blah blah blah, which in my mind, is complete garbage. Well im going to explain WHY im going long or shorting here. My instrument of choice, /NQ (nasdaq futures) Ill try to post my trades as quick as a get them in, but of course i have to monitor my positions closely to make sure price action is what im expecting. I use a simple price action strategy, I use the 30min opening range and the close for the day. I start on Monday marking up my charts and keep all lines on there until market close on Friday. I've found these price levels are critical throughout the whole week. (example. todays bottom of 30min opening range was also Mondays close price. Price action formed a double bottom on this critical level and ran 30 points) Starting capital:4500
starting capital $4500!!! According to the CFTC: Commodity Futures Trading Commission Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. There is a substantial risk of loss in trading commodity futures, options and off-exchange foreign currency products. Past performance is not indicative of future results. Trading futures contracts may not be suitable for all investors. You may lose a substantial amount of money in a very short period of time. The amount you may lose is potentially unlimited and can exceed the amount you originally deposit with your broker. This is because futures trading is highly leveraged, with a relatively small amount of money used to establish a position in assets having a much greater value. If you are uncomfortable with this level of risk, you should not trade futures contracts.
I've seen alot of your posts on here, and you are a complete idiot. Stay out of my thread. Im not new to this game, kid. Ive got many accounts. This account is to how quickly i can turn 4500 into 10,000
NQ opening range 2243.5-2231.25. Looking for a 1min bar to close outside of these levels with no tail. On decent volume.