I got back from work (Israel.. I come back at about 12:30am your time), trying not to think about work too much, too many strange things happen lately, boss being bitchy etc, so after eating dinner I went to look at my stocks screen, which I'll soon cover (fairly simple), and lurked the futures good.
After watching some cool skydiving videos I saw that ES is about to make a move, and the volumes of NQ confirmed, so after my market compass (ES / YM / NQ) which was ES this time showed me that there is about to be a move, I looked at NQ, and figured I can risk 2 points to see if the market really changed direction in the second half of the day.
I tried buying NQ@2186 @ 13:45 but couldn't get a fill, I wanted this trade badly since ES was really showing it's about to change direction, so I put an order @2187 and got instant fill, had a small heart attack at 14:10 since NQ moved down to 2185.5, but then continued to trend nicely until I had enough and got out at 2192.5 (+5.5), I could of stayed in this trade and make more bucks but I had to go so I just sold as high as I could.
NQ Chart:
ES my humble market Compass of the day:
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2 comments:
Good trading! However, as I told you already in the private, I think that your entry was wrong. You should have waited for the NQ to reach the bottom of the channel as it exactly did a few candles after your entry. It also printed a NRB which can give you a much better defined stop.
Well I guess you are right and I was supposed to wait a little longer for confirmation of NQ.
however what I think I studied from this is to wait even if the market goes against you a little bit, usually in my early days day trading I would just quit on the first sign of danger (2185.5) but I really believed that my stop loss is in the right place and that if it hits then it means "game over" for this trade.
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