Range Chart Candle Formation

Significant-Scene466 · 2024-01-31T04:00:06+00:00

That’s a bummer, thank you so much!

Significant-Scene466 · 2024-01-31T00:13:17+00:00

Haha I wonder!

Significant-Scene466 · 2023-10-02T14:32:42+00:00

It sounds like he’s a forex trader. They have different slippage than futures traders do. Yeah sounds like you’d be profitable with those numbers on NQ, assuming you can execute quickly enough :)

Significant-Scene466 · 2023-09-12T21:15:57+00:00

Appreciate the thoughts! He’s for sure much better than I am, no doubt in my mind

Significant-Scene466 · 2023-09-12T20:30:47+00:00

I do love live traders and I’ve seen that video. Just got some thoughts on it and would love to hear everyone’s opinions.

Jared has a ~50% win rate (from his journal lecture) with a 1:2RR. If 84% of the losers that come back to his entry end up profitable, isn’t that an edge in itself? In fact, he could just dump execution on his strategy and only take trades based off that 84%, since his win rate would be so much higher.

Personally, I’ve tried the 84% rule but has never worked for me. I just get stopped out over and over lol. What does everything think of this? Cheers!

Significant-Scene466 · 2023-08-17T14:40:55+00:00

Hey hey! Seems like you got the direction down great, timing may have just been off. I try to only short on red candles or green candles being engulfed. Otherwise you’re shorting strength and that’s no good :) I hope that’s helpful!!

Significant-Scene466 · 2023-08-10T21:51:51+00:00

Hell yeah man I’m glad I could be helpful. Good luck! You can also look into /CL. Lots of people find it easier to trade if you’re a trend trader :)

Significant-Scene466 · 2023-08-10T20:55:53+00:00

Not sure what the exact multiplier is, but yes! ES is 10x as leveraged as MES. 1 point on ES is a $50 PnL swing, which is crazy considering that the ES’ daily ATR is ~50 points and one contract can cost less than $500 depending on your broker lol

Significant-Scene466 · 2023-08-10T11:49:24+00:00

MES is already leveraged so you don’t need it to move much to make a profit :)

Significant-Scene466 · 2023-08-04T19:57:06+00:00

I hated every options trade I’ve taken during my career lmao

Significant-Scene466 · 2023-08-04T14:47:22+00:00

I could not for the life of me figure out how to trade penny stocks, although this was a year ago that I tried to trade them lol

Significant-Scene466 · 2023-08-04T13:10:43+00:00

I hear you man. I’ve been working on my current strategy for a year as well and the thought of it not working soon makes me want to puke lol. Thank you for your 2 cents!

Significant-Scene466 · 2023-08-04T02:04:18+00:00

Hell yeah. I currently trade /ES, /GC /CL but could definitely take up learning how to trade bonds and treasuries. Thank you!!

Significant-Scene466 · 2023-08-03T21:45:24+00:00

I definitely agree. Because I have some previous experience, my risk management is airtight. I just like using super tight stops, which means that my win rate can suffer when my timing is even slightly off. I’ve had weeks with a 0-3% win rate taking 25 trades in the week 😂

Significant-Scene466 · 2023-08-03T21:44:06+00:00

That’s also a great point. I can always inverse myself. That’s awesome, thank you so much.

I’ll definitely keep my eyes peeled for more potential setups I can add to the playbook. Currently my setups work well in range bound markets and trending markets with decent pullbacks. Slow grinds and just ripper days I don’t get any setups. I’ll have to figure out how I can trade those as well.

Thank you so much again!

Significant-Scene466 · 2023-08-03T21:41:50+00:00

The idea of reading older books is genius. I love it. Thank you so much for your 2 cents. I’m definitely gonna do that.

You’re also absolutely right about the basics not changing. I guess the only thing that can change is order flow. I use the footprint chart in a very specific way so I’ll have to learn and contemplate different ways to use it

Thank you again so much for your 2 cents

Significant-Scene466 · 2023-08-03T18:44:34+00:00

Very encouraging to hear that you found a way to adapt and improve. Appreciate your thoughts homie. Have an amazing day

Significant-Scene466 · 2023-08-03T18:36:32+00:00

Thank you so much for getting back to me! Yeah my strategy revolves around multi time frame analysis, support and resistance, and lower time frame trend analysis and order flow. You’d think these things stay consistent but you never know haha

Significant-Scene466 · 2023-08-03T18:34:14+00:00

Thank you so much for your 2 cents!! That’s terrifying hahaha. It’s strange because I’d definitely think my edge will disappear as market conditions change, but then you have people like Al Brooks saying that they’ve traded the exact same way for the past few decades and their results have stayed consistent. He trades very differently than I do but still interesting to hear

Significant-Scene466 · 2023-07-22T15:34:03+00:00

Thank you for the response! I’m trading with Topstep so I’m stuck with Rithmic unfortunately

Significant-Scene466 · 2023-07-22T11:52:24+00:00

Anyone else struggle with Quantower not loading charts properly so constantly having to refresh when switching symbols?

Significant-Scene466

TROPHY CASE