NQ running again

Discussion in 'Index Futures' started by mikeriley, Aug 11, 2022.

  1. mikeriley

    mikeriley

    NQ had a great run today.
    Expecting it will continue North.

    Thank God I never listen to financial
    media or the prognosticators of War.

    NQ.png
     
    Last edited: Aug 11, 2022
    earth_imperator and Relentless like this.
  2. maxinger

    maxinger

    HUH? you traded without X and Y axis ?!
     
  3. mikeriley

    mikeriley

    LOL..I'd really need a crystal ball if I traded without those.
    Chart fixed.
     
  4. How can you tell they're full of shit ?

    Their lips are moving
     
  5. giant rampage in progress.

    long and strong
     
  6. Good Morning mikeriley,

    You are the master of NQ day trader.

    Please kindly give me a strategy to make $50 or $100 a day trading NQ for 1 hour a day please.

    Thank you,
     
    mikeriley likes this.
  7. pulled back just after my alert , then ripped 170 NQ points higher.

    sold near the highs

    amazing
     
  8. mikeriley

    mikeriley

    Hi there SimpleMeLike

    I've already given you that strategy in the form of a Game.
    You were instructed to play the Game in simulation mode
    until you were confident the strategy was viable for live trades.

    Use micro contracts.
    https://www.elitetrader.com/et/threads/a-trading-game-for-fun.366818/
     
    SimpleMeLike likes this.
  9. Hello mikeriley,

    Thank you so much Mike.

    That strategy is too hard. Please give me one much simpler.
     
    Last edited: Aug 11, 2022
  10. mikeriley

    mikeriley

    OK, test this one in Simulation mode
    until you're confident for Live trading. ( I know it works):)

    Step #1 Open MNQ with a 30 minute chart.
    Step #2 Make sure you can see at least 5 days
    of price.
    Step #3 Every day determine High/Low range.
    Step #4 Range is absolute high and absolute low
    between 5:00pm to 5:00 am Eastern
    Step #5 Use horizontal lines to mark
    these two levels on your chart.
    Step #6 Buy or sell the first level that's breaks
    past 1 tick.
    Step #7 Stop loss is the price level on
    opposite side that was not broken.
    Step #8 Profit target is 100 ticks

    Yes I know, many times you'll have a
    WIDE stoploss. Just be patient and
    wait till move develops. Watching
    the chart every day will help you
    determine the best days to WAIT
    FOR IT.

    Some days you'll see when MNQ is developing
    a clear trend. When that's evident to you,
    look to take position early before it breaks
    any of your price levels. On such days you can ride
    the move for more than 100 ticks. Sometimes
    a lot more (200+)

    In time you'll know when to increase your contract
    size. (Goal is using Mini contracts instead of micro):D

    Caution: ONLY use this with a 30 minute chart
    and ignore price action on lower time frames.
    If you use this with a lower time frame you'll
    end up pulling out too early when the move
    is barely under way. Lower times frames = Slot machine
    mentality. (Stay away from it)

    Once you win the trade, STOP TRADING.
    You only need 1 trade/day. This will protect
    your profits, build your confidence and
    your bank account.

    Patience is required.

    To your Trading Success.
     
    Last edited: Aug 11, 2022
    #10     Aug 11, 2022
    SimpleMeLike likes this.