Trade Review: NQ Futures, or, JRHNBR Trading Video 9/26/16

Trade Review

Decided that this week I would go for 2 contracts and make a trading video or two, and I did just that today.

I added a new section to the website, “Videos”, in the menu at the top of the page for accessing posts with videos.


E-mini NASDAQ 100 Futures (@NQ)

60 Minute Chart

5 Minute Range

Tight, low volatility range on the session today. Low volatility usually leads to higher volatility, so tomorrow could be fun (overnight session popping off the lows already).

Trade one: Price opens and heads for support below, I get long on the double bottom (1st chart below), anticipating a breakout higher. Turns out this trade was a bit early, as the true double bottom comes a few minutes later (second chart below).

1m Trade Chart

Order Flow

Been working on some objective measures of reading the markets, and I’ve found that the most basic of price action concept of higher highs, higher lows in an uptrend, and lower highs, lower lows in a downtrend is so powerful. I think the simplicity of it all is what leads traders (like myself for so long) to ignore its power in guiding the way (chart above).


Day’s PnL:

NQ PnL

Wrap up

Going to continue the two contract campaign the rest of this week and focus on creating profitable outliers and proper risk management. I am excited to be back to making videos, hopefully I’ll have another one sometime this week.

YouTube Channel Link

 

Thank you for reading the review!

If you have any questions or comments about anything in this review, trading in general, or just want to say hi, please feel free to comment below. I look forward to hearing from you!

One Response
  1. February 23, 2019

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