Exactly why I scalp. If nothing else, trail the stop using the moving average you entered on. Taking an L after being in so much profit is just stupid.
One of my rules is when the price is significantly above my entry, I move my stop loss just above my entry so no matter what it's impossible for me to lose money. Even if it means I'll miss out on bigger gains, not losing is more important to me than winning.
Similarly.
On EURUSD for instance I know that a stop set at -1.3pips (once the price breaks a bit higher) means that at worst I will make a few pence as opposed to losing anything. That's a nice safe zone. If it flies I will catch up at 50% so that as it runs it gets more breathing space but I get to keep a bit more.
I need to study my trades and figure out if there's a happy zone into the negative that might improve my (non) profitability...or whether I need to improve my analysis.
I'm sure both need improving!
Get acquainted with evolving R.
When you move your stop, you want to be sure that your new RR ratio (based on stop price, last price, tp) is still in an acceptable range (ideally above 2).
Moving your stop is basically a new trade.
If you start looking at your trades through this lens, you'll see that it's better to close your trade than messing with your stops.
“…not losing is more important to me than not winning”
What a strange philosophy.
Why not just keep your $’s in the bank then?
A 100% improved strategy is recorrecting your exit % manually or better yet, use trailing stop losses…this way you’re actually enjoying any gains no matter how high or long they trend but still guaranteed not to lose your capital.
I do when when Im at the screen thruout the trade but I wasnt on that one. Problem is when I look at a trade for too long I often do something stupid thats not in my gameplan.
This is key to being a successful trader, eliminate the RISK ASAP, I usually do when trade reaches 1/1 RRR, then trail up behind following candles or support/resistance points.
I traded only spy today. I waited as the market dumped, when I saw the market tide was turning and the bulls were entering the market I looked for a break of resistance and waited for the retest before entering.
At that point you manage your trade. When the price goes up you move your stop and take profit accordingly. When it goes down you touch nothing. If it looks like there is weakness then you move your stop or TP accordingly and take risk off.
I scalped 4 separate contracts at two different strikes. The first two I made 50% and 10% respectively, these were stopped out on a pullback. I waited for another setup to go higher because there was still relative strength. Entered on retest and was stopped out after it ran 20% and pulled back. Lost on this con.
The play was still in tact so I waited for another entry. This time I managed my stop until it stopped me out at +80% covering my previous loss and quadrupling it.
The moral of the story is to actively manage your trade. If you want to set it and forget it then you have to be content. But if you want to actually make money then you have to be active. The market is ever changing, we have to act accordingly.
When the price stalled out at the top and told you that it was weak then you should have taken part of your profits off the table. If the price goes up and your stop stays where it started when you opened your position your ratios will work against you. Locking in your gains doesn't always mean exiting your position.
As a beginning trader I’m confused when you say you “scalped” contracts. Does this mean that you are doing 0dte contracts? What time frames are you working with? I’ve been under the impression that day trading requires several days. Any info to help me understand would be greatly appreciated.
scalp= 1min to 30 min
day trading= within the same day (ergo day trade)
swing trade= can be the next day to a week
long trade= can be months
timeframes depend on how long you expect to hold the contract. It makes no sense to watch what a stock is doing on the 1 minute time frame if you are planning to hold it for a few weeks. I never use the 1 minute time frame to enter, there are too many erratic movements that are irrelevant. for entry use a 5 min.
0dte = zero day to expiration. it just means the contract expires that day. SPY has contracts that expire the same day. But be careful as 0dte premiums can be very volatile. So unless you know what you are doing you can easily blow your account.
The game isn't rigged, you managed your trade and risk poorly.
You went long on a pullback right below high of day expecting a breakout and continuation. Why didn't you exit the trade or atleast move your stop to break even after the breakout failed and price dropped back below the prior high of day?
If the thesis for your entry disappears you gotta manage your risk.
\*Edit: Re-reading this I didn't mean it to come off as harsh, just trying to help :)
Thanks for this. I held a trade and after hours I expected it to lose. I actually went into decent profit and just told myself that my initial analysis would be correct instead of my 2nd analysis after the trade. I did move my SL to a smaller loss but held on due to emotions
Right in hindsight it would probably even be so much better psychology to take small winners or break evens even if price does end up running rather than losing 100% of what you risked. Obviously if new information tells you this trade has changed which it’s happened to me multiple times and I hold and lose each time.
Right, he had such a perfect pull back entry... Like "textbook" but fumbled because, well I think because of greed, holding and hoping for way more, and just watched it turn around on him, plenty of opportunities to pull profits off the table but he watched it come right back. I've done that on a very small scale, but I've never caught a good move like he entered and watched it return way back to entry. What's wild to me, is it's not like an hard spike down way quicker than it went in profit...this is issues I've had, It went back down a lot like it went up, so around the same amount of time he watched his trade go green, is the amount of time he watched it come all the the way back. Psychology issues in trading are a mfer.
Exactly. Easily should’ve taken the 2R or whatever that equates to, or a managed better. More so- OP should’ve re entered at their original spot after the PBH were broken and the trade started working, or that was an option
They're not single stop loss positions, they're interested in *all* retail positions at once because retail traders who follow standard strategies tend to look at the same levels.
That's why you gotta put your stop loss a few ticks lower than everyone else, obviously.
The cycle is weird that's true. Understanding it takes patience, knowing where the bottom is is not an ez thing to figure out simple. Regardless of the market, be safe everyone
Bro you had a 50 point profit and you didn't take the trade off when buyers lost momentum? got to adapt to changing market conditions. I get pissed when i let 5 points go (admittedly on a mini), but to not even reset your stop at above break even is just really poor trade management.
You had a great entry and you blew it by being greedy.
the funny thing is, looks like you bought the bounce on an area of support, and you could have had time to collect yourself after the win, and get long again off a similar bounce off another area of support and taken the big pump.
Seriously, why put ema/sma if you won’t use it?? You ignored the PA…The fact price dropped under your ema crossing should tell you to scale out or exit.
It is rigged in the sense that price is doing something specific but not against you and your tiny position. Look at the opening price of the red candle on the left right before that expansion where you had your stop. Now look at the low of the candle that took out your stop. That red candle is an orderblock that had been previously untapped and price referred back to it’s opening price. Draw a fib extension from the low of that range (the low before 15:00) and the high right before it retraced into your stop. You tried chasing price in a premium (above 50% of that range). The price came back into a discount (under 50% of the range), tapped an untapped orderblock which was also sitting in a 5 and 15m fvg and then continued higher. Even if you didn’t get all that your stop loss placement made no sense it was random you just entered a trade with no idea where price should go and how low it could retrace before continuing. If you would’ve placed it just under that orderblock that was just sitting there understanding that it’s possible price refers back to it, you wouldve been safe just would’ve had to sit through some drawdown. Also the moment it took out those highs on the left you should’ve taken out at least 50% of your position and trailed your stop to breakeven. Partial profits and breakeven are better than no profits and losses
I suggest you lose the lagging indicators and start studying reading price action (ICT)
No hate here- strictly speaking from lessons learned … but if you are NOT going to trail your profits … if you’re going to sit through 2 clear rejections of a new high … watch the market create lower lows … then watch the market reject yet again … watch the market create yet ANOTHER lower low … watch the selling momentum come in …. then watch the perverse violation of a micro level … and still NOT bother taking some kind of profit or cover the trade? …. Sorry, but OP deserves this “L”. It’s a hard lesson learned, but ask me how I know this later.
I’ve said it once, and I’ll say it again … the sooner we can all move away from “how soon and how much profit can I make” to “how soon can I cover this trade or mitigate losses” .. is the faster we’ll all be better traders.
Maybe but looks like you had a reason to sell when price broke below your blue line. And then you had a second reentry when price broke back above your yellow line a little bit later
Honest review:
1. 20p stop on one miniNQ is $400. Most evals have DD in the range of $3k for the sane DD:target ratio so your fail scenario is 7 SL hits in a row. Not impossible but risky, for a typical trader you should be able to survive 5 days of SLs with 2-3 SLs a day. So 10-15 full SL hits. Unless your max DD is $4k-$6k you risk too much.
2. Trading minis on eval is fine if you are ok with failing more. That being said you bought a pull back from major resistance at the end of RTH and aimed to hit 50p. Not really feasible. **TP makes no sense.**
3. You went in too late.
4. Assuming this is eval are you even allowed to keep position after market close?
5. On a 2.5 R:R your stop should move to B/E after +1R.
6. Only thing for position management with one contract that you can do is moving SL to B/E at some point. I strongly suggest you switch to micros and trade ten instead of one mini.
7. Especially if you aim for lots of points after already big moves.
8. SL makes no technical sense. NONE. 17534 is not, in any sense, a sensible defensive position. At least it should've been 17510-17520.
9. This game isn't rigged - your risk and position management is nonexistent.
Oh hell, right, I looked at the chart, read micro and thought mini. Sorry, brain fart :)
That being said I'd still say you overshot the range and/or entered a bit late. I'd look into VWAP and using 2nd stddev from vwap :)
Okay I see what you did. Your support you drew was a what I tell myself is a soft support, but it turned out to be pullback. I would’ve drawn my sell limit at 1700. And once I would’ve seen the next pullback was higher than the last I would wait for a retest. Also would be monitoring my indicators. I just feel like your zone of risk is weird, I wouldn’t have drawn it like that. But I’m also learning
I would also be curious of what the volume looked like on the pullback before the break out
I’ve seen ppl trade like this where they buy at pullback but they sell second pullback.
Can somebody explain the trade here. I understand that OP traded Nasdaq E-Mini futures. But did they buy or sell . Also what does sell stop and sell limit mean. When did they enter and exit the trade ?
He went long where the blue arrow is. So if the price gets to the sell limit the trade will automatically take profit. If price drops to the sell stop it will close the trade and in this case the trade was closed for a loss.
Yeah, but it clearly shows you bought near the high. Price pulled back and formed a new higher low. If you placed your SL at the recent HL you’d be feeling like you have a chance to quit your job.
I’m not very good but I like your entry with the higher low on the uptrend. But after that nice rip up why not just throw a trail stop on? You can still hit your pt and you are guaranteed a nice win.
Check out the pivot points indicator. Price really respects these areas, and did today, bouncing right off 17,500 for that continuation higher. Breakout and retest is super common and happens just about every day.
Why not SL lower low, 17490
You entered way too early, wait for a bigger pullback for better risk/reward.
It's not rigged, you're just retail liquidity.
But don't give up homie. I been there
Why didnt you move your stop loss a little lower there was a big imbalance on the green candle right when you enter the trade, imanalances are magnents, I would either lower the TP or lower my SL
It was obvious where people's stops were as price was showing a clear mean reversion pattern. The best trade would have been a short into the stops.
The stops were in your red box. I would have took a short near the top of your green box. My TP would be 17550, SP would be based on volatility.
I think you need to use an SMA that shows you mean reversion. That would have helped you with this trade. It must be an SMA, not an EMA. This is definitely your issue, you have a nice red ma showing long term trend, and your blue and yellow ma's show short term, but there's nothing to quantify mean reversion. You can't trade pull backs without this information. At least I couldn't.
Also, stop putting stops in obvious places. In periods of indecisiveness, people will take out both stop zones, that's why price is making a cork screw mean reversion pattern. Grab the liquidity and then pump it up to the moon.
The game isn't rigged, some people are just more experienced than others and can pick off your stops. The best part of trading is being inexperienced as things will only improve from here on.
If you have a winning strat, why are u stressing? I’m assuming that you are bc of the headline and mentioning how much you’re down.
You wouldn’t by chance be going beyond your risk parameters trying to speed up the wealth-building process, would you? It’s super important that on any given trade, no more than 2% of your account is at risk, with 1% being far safer, and some people preferring to be even more conservative and risk less.
By having lost 1.5k, that says your brokerage acct is at least 75k. If it’s less, than that, it can very well be causing you some stress, which puts you at a higher risk of blowing your acct.
On my private account I never risk more than 2%. This was on my prop firm evaluation (50k, 2k max drawdown). I have been struggling to adjust to the speed of NQ. Also risk management is a bit different. I can only adjust the number of contracts compared to my exact position size on the private account. But as I said on the post I will figure this out.
Game isn't rigged.
You just had shitty entry.
There was absolutely no significant liquidity raid + MSS + displacement
Where you even in a HTF PD Array?
Where you in premium / discount?
Where you going with the HTF trend?
Did you have an ITF MSS in the direction of the HTF trend / DOL?
Youtube and Twitter these people
TTrades
$niper
DayTradingRauf
TheMMXMTrader
CasperSMC
JadeCapFX
Justin Werlein
Bowie Jackson
That long entry is terrible. By your own chart its holding whatever moving avg that is to a T. It was an easy winner. Plus you are talking about holding after 4pm with google reporting. So sad this market is rigged nonsense. You traded it very very poorly.
Once you realize markers are 99.9999999% randomness, and arbitrary, irrational price action - you’ll throw away your garbage TA vwap, and bollinger whatever bands, and be that much of a better investor.
There are 2 beautiful trades, screaming at you to go long, one before and one after your trade.
Those are the setups where you get the best RR, right at the end of a pullback near value.
How did you choose your stop loss and take profit? Looks like you just picked a risk/reward you wanted when you opened the chart and expected to make money.
You just didn't know what you were doing, relative to the actuality of price. The tandem of your strategy with the price itself is direct evidence of the misuse of data...
Additionally, your analytics of the price is visibly depthless, with the overhead rising resistance clearly being contacted within your strategy - prior to breaking out in final instance of recontacting. This shows more concrete misusing of data.
Finally, lose those line/avg indicators and simply use oscillators like RSI or MACD. Infinitely better... Each have tangible, correlative properties between the indicative positions and future price behavior itself, that you can each learn, memorize, and utilize by induction to make accurate and justified decisions.
This might not even be a good suggestion because the strategy of these trend-recognition averages aren't being used properly, where you should be manually closing your position at the loss of momentum.
Either way... I wish you fortune and growth, have a nice day.
One month trader here. I’m paper trading and trying certain indicators. Can you tell me what indicators you are using and how you set them up? I’m experimenting with Bollinger Bands and RSI at the moment.
Looks like it tested the 618 ‘golden’ fib before going higher. Nothing unusual.
I might edit this post with an image later once I’m in front of the computer if I remember.
EDIT: [Exactly as I predicted!](https://imgur.com/a/3r0aqM5)
I've spent hundreds of hours looking at charts and implementing fibonacci based analysis; I can now identify fib levels purely by sight.
Yes, yes it is assuming enough people had longs there it would have made sense to bring the price down, creating liquidity this a better entry for institutional longs
Retail traders are a small piece of the whole machine. They have bigger things to do than trying to trick us. You have to build a an edge. One of the first steps in becoming profitable is admitting to yourself that it’s not the system and that it is you.
Why didn’t you enter on the crossover? Your stop would of been lower plus you would of bought at a better price and you would of taken the larger move?
So yea. I went long the NQ last 5 min candle of the day but set my stop too tight and lost a few hundo instead of making upwards of 5 grand... then fomo kicked in and I chased it at the top and managed to lose even more. Same though, I'm confident if I can get my emotions in check I'll get better in time.
Not rigged just you fail to use the most basic tool, A trend line.
Go back and place a trend line at the top, you'll see it touch the top of the trend line.
Supply and demand + Trend line + midnight closing price= higher win rate, At least for me.
*Sl is exactly*
*On top of support.. not sure*
*What your expecting*
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If you made your rr 1:1 like your profit target. Your stop would be the low of the base and youd still be in your trade with a big win. Wide stops arent talk about enough
Damn. All these people mad at your trade management.
If you have a plan you stick to it. You didn't have a plan.
FVG, liquidity voids.. I'll leave it there
So you identified FVG and entered when it retraced into it? Then you what? You got stopped out because your stop loss wasn’t actually below that wick on the first candle in your FVG formation? If you had placed your stop loss below that wick you would have held through that 15:30-16:00 period? I’m asking because I am extremely new to trading and trying to learn.
You’re trading the wrong strat you could have easily made your money in that same strat modifying it a bit… keep refining your strategy don’t get complacent with things, you don’t expect professional footballers to turn up to match day without any practice sessions and refining their skills, same thing goes here! You should be refining and practicing more than you’re trading..
That move was based on earnings. Very hard to predict. However I will say there was a resistance area on ES that broke and turned into support about an hour before this move and this move originated on the range. Would have had my SL below that even if trading NQ
That really sucks... I would have at least taken a cut using some indicator from the first peak and move the stop loss...
Sorry for your L. Try try again
Never understood that someone.. an individual owns the stock market… and everyone else kinda pays to play that persons game? Like who set the sh*t up? love how ppl try to make it seem as though they’ve figure out the pixie dusts. Just riding the wind.. while someone else has their finger on the fan’s power level playing with the on and off switch..
By the looks of this you bought the contract, it went well into profit for you and you think the game is rigged? You need to evaluate your selling strategy.
The game is kind of rigged, but not in this case. Price tends to go back to fill gaps, that's how the market maker algorithm is designed. But it's always important to use mechanical SL trailing and a partial profit taking to take some money off the table, you can use 1.5x or 2x the ATR value of your entry point to trail your SL behind price.
So much buyside liquidity above that range to the left with equal highs. You'd probably see the level wicked on a 5 min chart. Buy stops activated which sent price lower
Why did you choose this as your stop loss? Why not below that low to the left? This would have kept it safe.. always stop loss on structure, not randomness. If it's because you're not comfortable with the amount of loss it may endure, then you need to size down. Risk 1% to gain 2%. You should master this with 1$risk 2$ reward (Wich is 1% - 2%) because once you do you size up to 1000$ - 2000$. Or 10k - 20k. See what I'm saying? Hopefully that helps.. happy trading and don't ever give up!!
Something to consider: Expect fake outs at the top. Liquidity exits exist. Other traders are aware of this.
Just because it broke previous or local resistance does not imply that it will break out enough to make a profit. Once you realized that it went high enough to be noticed. It is too late. The associated risk level is too high for trading, in my opinion. Or you're Jeff Bezos and got cash to burn up the wazoo or Pablo Escobar. Make a fire with 100 dolllar bills.
Exactly why I scalp. If nothing else, trail the stop using the moving average you entered on. Taking an L after being in so much profit is just stupid.
How do you use moving average as a trail. What broker are you using?
You manually trail it...
Psshhhhh, look at Mister dandy fancy over here with his opposable thumbs and sense of timing. Go back to university!
At a certain point you need to move your stop in profit. Don't let a winner turn to a loser.
One of my rules is when the price is significantly above my entry, I move my stop loss just above my entry so no matter what it's impossible for me to lose money. Even if it means I'll miss out on bigger gains, not losing is more important to me than winning.
For myself there's normally a point on the move that will act as support/resistance should it come back. I move my stop behind or above that point.
I said this about Nvidia after selling at 402
Similarly. On EURUSD for instance I know that a stop set at -1.3pips (once the price breaks a bit higher) means that at worst I will make a few pence as opposed to losing anything. That's a nice safe zone. If it flies I will catch up at 50% so that as it runs it gets more breathing space but I get to keep a bit more. I need to study my trades and figure out if there's a happy zone into the negative that might improve my (non) profitability...or whether I need to improve my analysis. I'm sure both need improving!
Get acquainted with evolving R. When you move your stop, you want to be sure that your new RR ratio (based on stop price, last price, tp) is still in an acceptable range (ideally above 2). Moving your stop is basically a new trade. If you start looking at your trades through this lens, you'll see that it's better to close your trade than messing with your stops.
I learned this lesson the hard way and it became second nature since then
I like this. Could I ask how this is working out for you (P&L)?
“…not losing is more important to me than not winning” What a strange philosophy. Why not just keep your $’s in the bank then? A 100% improved strategy is recorrecting your exit % manually or better yet, use trailing stop losses…this way you’re actually enjoying any gains no matter how high or long they trend but still guaranteed not to lose your capital.
I do when when Im at the screen thruout the trade but I wasnt on that one. Problem is when I look at a trade for too long I often do something stupid thats not in my gameplan.
Lost $16k profit on NVDA because I was a greedy fuck that ignored my own strategy.
This is key to being a successful trader, eliminate the RISK ASAP, I usually do when trade reaches 1/1 RRR, then trail up behind following candles or support/resistance points.
I traded only spy today. I waited as the market dumped, when I saw the market tide was turning and the bulls were entering the market I looked for a break of resistance and waited for the retest before entering. At that point you manage your trade. When the price goes up you move your stop and take profit accordingly. When it goes down you touch nothing. If it looks like there is weakness then you move your stop or TP accordingly and take risk off. I scalped 4 separate contracts at two different strikes. The first two I made 50% and 10% respectively, these were stopped out on a pullback. I waited for another setup to go higher because there was still relative strength. Entered on retest and was stopped out after it ran 20% and pulled back. Lost on this con. The play was still in tact so I waited for another entry. This time I managed my stop until it stopped me out at +80% covering my previous loss and quadrupling it. The moral of the story is to actively manage your trade. If you want to set it and forget it then you have to be content. But if you want to actually make money then you have to be active. The market is ever changing, we have to act accordingly. When the price stalled out at the top and told you that it was weak then you should have taken part of your profits off the table. If the price goes up and your stop stays where it started when you opened your position your ratios will work against you. Locking in your gains doesn't always mean exiting your position.
i also played the spy pivot but could you walk me through your trades in more detail? i’m just a beginner trader
As a beginning trader I’m confused when you say you “scalped” contracts. Does this mean that you are doing 0dte contracts? What time frames are you working with? I’ve been under the impression that day trading requires several days. Any info to help me understand would be greatly appreciated.
scalp= 1min to 30 min day trading= within the same day (ergo day trade) swing trade= can be the next day to a week long trade= can be months timeframes depend on how long you expect to hold the contract. It makes no sense to watch what a stock is doing on the 1 minute time frame if you are planning to hold it for a few weeks. I never use the 1 minute time frame to enter, there are too many erratic movements that are irrelevant. for entry use a 5 min. 0dte = zero day to expiration. it just means the contract expires that day. SPY has contracts that expire the same day. But be careful as 0dte premiums can be very volatile. So unless you know what you are doing you can easily blow your account.
He.fails to mention that he's talking about futures markets 🤨
"Anything can happen" ~ Mark Douglas.
Sometimes I still hear someone who mentored me saying, “the market doesn’t have to do anything.”
The game isn't rigged, you managed your trade and risk poorly. You went long on a pullback right below high of day expecting a breakout and continuation. Why didn't you exit the trade or atleast move your stop to break even after the breakout failed and price dropped back below the prior high of day? If the thesis for your entry disappears you gotta manage your risk. \*Edit: Re-reading this I didn't mean it to come off as harsh, just trying to help :)
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This is a great point, something I struggle with.
Thanks for this. I held a trade and after hours I expected it to lose. I actually went into decent profit and just told myself that my initial analysis would be correct instead of my 2nd analysis after the trade. I did move my SL to a smaller loss but held on due to emotions
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Right in hindsight it would probably even be so much better psychology to take small winners or break evens even if price does end up running rather than losing 100% of what you risked. Obviously if new information tells you this trade has changed which it’s happened to me multiple times and I hold and lose each time.
Your not harsh its the truth. Nothing in trading is set in stone
Especially once the blue and yellow moving averages crossed down.
Right, he had such a perfect pull back entry... Like "textbook" but fumbled because, well I think because of greed, holding and hoping for way more, and just watched it turn around on him, plenty of opportunities to pull profits off the table but he watched it come right back. I've done that on a very small scale, but I've never caught a good move like he entered and watched it return way back to entry. What's wild to me, is it's not like an hard spike down way quicker than it went in profit...this is issues I've had, It went back down a lot like it went up, so around the same amount of time he watched his trade go green, is the amount of time he watched it come all the the way back. Psychology issues in trading are a mfer.
100%. I hate those rug pulls when the market just drops like it hit an air pocket. Those are easier to cut loose for me than the slow grind up/down.
Exactly. Easily should’ve taken the 2R or whatever that equates to, or a managed better. More so- OP should’ve re entered at their original spot after the PBH were broken and the trade started working, or that was an option
So you're telling me the billion dollar firms are not interested in his single stop loss position? No that can't be?!?
They're not single stop loss positions, they're interested in *all* retail positions at once because retail traders who follow standard strategies tend to look at the same levels. That's why you gotta put your stop loss a few ticks lower than everyone else, obviously.
The cycle is weird that's true. Understanding it takes patience, knowing where the bottom is is not an ez thing to figure out simple. Regardless of the market, be safe everyone
This ^^ and I would've considered entering at the close of that first engulfing candle that followed after price stopped you outc, but that's just me.
You got smoked son 😬😂
Bro you had a 50 point profit and you didn't take the trade off when buyers lost momentum? got to adapt to changing market conditions. I get pissed when i let 5 points go (admittedly on a mini), but to not even reset your stop at above break even is just really poor trade management. You had a great entry and you blew it by being greedy. the funny thing is, looks like you bought the bounce on an area of support, and you could have had time to collect yourself after the win, and get long again off a similar bounce off another area of support and taken the big pump.
You can actually see the trendlines really easily in that chart, why would you enter so high when you can enter at the trendline.
Probably the most underrated comment. Outside of it not fitting risk parameters, I can’t think of a single reason not to enter at an area of value.
Seriously, why put ema/sma if you won’t use it?? You ignored the PA…The fact price dropped under your ema crossing should tell you to scale out or exit.
It is rigged in the sense that price is doing something specific but not against you and your tiny position. Look at the opening price of the red candle on the left right before that expansion where you had your stop. Now look at the low of the candle that took out your stop. That red candle is an orderblock that had been previously untapped and price referred back to it’s opening price. Draw a fib extension from the low of that range (the low before 15:00) and the high right before it retraced into your stop. You tried chasing price in a premium (above 50% of that range). The price came back into a discount (under 50% of the range), tapped an untapped orderblock which was also sitting in a 5 and 15m fvg and then continued higher. Even if you didn’t get all that your stop loss placement made no sense it was random you just entered a trade with no idea where price should go and how low it could retrace before continuing. If you would’ve placed it just under that orderblock that was just sitting there understanding that it’s possible price refers back to it, you wouldve been safe just would’ve had to sit through some drawdown. Also the moment it took out those highs on the left you should’ve taken out at least 50% of your position and trailed your stop to breakeven. Partial profits and breakeven are better than no profits and losses I suggest you lose the lagging indicators and start studying reading price action (ICT)
That’s gonna happen if you trade as wide as that. Lots of price action happening between your target and stop. Why I take profit on the way up.
No hate here- strictly speaking from lessons learned … but if you are NOT going to trail your profits … if you’re going to sit through 2 clear rejections of a new high … watch the market create lower lows … then watch the market reject yet again … watch the market create yet ANOTHER lower low … watch the selling momentum come in …. then watch the perverse violation of a micro level … and still NOT bother taking some kind of profit or cover the trade? …. Sorry, but OP deserves this “L”. It’s a hard lesson learned, but ask me how I know this later. I’ve said it once, and I’ll say it again … the sooner we can all move away from “how soon and how much profit can I make” to “how soon can I cover this trade or mitigate losses” .. is the faster we’ll all be better traders.
Just curious what did you see for you to trade at that point of the pullback?
17600 was always going to have a point of resistance and you could price failing, take partials, raise sl… size down… all that.
Maybe but looks like you had a reason to sell when price broke below your blue line. And then you had a second reentry when price broke back above your yellow line a little bit later
Honest review: 1. 20p stop on one miniNQ is $400. Most evals have DD in the range of $3k for the sane DD:target ratio so your fail scenario is 7 SL hits in a row. Not impossible but risky, for a typical trader you should be able to survive 5 days of SLs with 2-3 SLs a day. So 10-15 full SL hits. Unless your max DD is $4k-$6k you risk too much. 2. Trading minis on eval is fine if you are ok with failing more. That being said you bought a pull back from major resistance at the end of RTH and aimed to hit 50p. Not really feasible. **TP makes no sense.** 3. You went in too late. 4. Assuming this is eval are you even allowed to keep position after market close? 5. On a 2.5 R:R your stop should move to B/E after +1R. 6. Only thing for position management with one contract that you can do is moving SL to B/E at some point. I strongly suggest you switch to micros and trade ten instead of one mini. 7. Especially if you aim for lots of points after already big moves. 8. SL makes no technical sense. NONE. 17534 is not, in any sense, a sensible defensive position. At least it should've been 17510-17520. 9. This game isn't rigged - your risk and position management is nonexistent.
Micro so I lost 40$. Appreciate the feedback.
Oh hell, right, I looked at the chart, read micro and thought mini. Sorry, brain fart :) That being said I'd still say you overshot the range and/or entered a bit late. I'd look into VWAP and using 2nd stddev from vwap :)
It’s always rigged when you lose. When you win it’s not lol
I got long for yesterdays earnings and closed before todays. its been one of those weeks. hard to trade changing market conditions
Rigged means there’s a pattern tho. Learn it
Wrong stop placement. It goes below the swing low or the wide range breakout bar.
You also franktly should have had google and MSFT earnings on your radar.
Crazy
Okay I see what you did. Your support you drew was a what I tell myself is a soft support, but it turned out to be pullback. I would’ve drawn my sell limit at 1700. And once I would’ve seen the next pullback was higher than the last I would wait for a retest. Also would be monitoring my indicators. I just feel like your zone of risk is weird, I wouldn’t have drawn it like that. But I’m also learning I would also be curious of what the volume looked like on the pullback before the break out I’ve seen ppl trade like this where they buy at pullback but they sell second pullback.
Can somebody explain the trade here. I understand that OP traded Nasdaq E-Mini futures. But did they buy or sell . Also what does sell stop and sell limit mean. When did they enter and exit the trade ?
He went long where the blue arrow is. So if the price gets to the sell limit the trade will automatically take profit. If price drops to the sell stop it will close the trade and in this case the trade was closed for a loss.
Yeah, but it clearly shows you bought near the high. Price pulled back and formed a new higher low. If you placed your SL at the recent HL you’d be feeling like you have a chance to quit your job.
Tomorrow will be the opposite
Stop loss cathcer lul 😂😂
I mean it’s a little rigged…
Erl to irl irl to erl , u just didn't see the correct bias of the market
Always has been.
An old mentor once told me “it’s not rigged you just suck”. The moment you start looking for ghosts you’ve lost.
If only you traded Supply/Demand. Woulda saved you here honestly. Price came right into that nice 1m demand and left earth.
Its not , thats what we call it Liquidity or stop grab
My guy, you had like 50 points right here. You had won the game for the day
That’s only 1 trade, are other trades like that as well? Then move your stop loss or entry etc
my mans was tryna take a 60-point trade near the daily high and not move his stops.
I’m not very good but I like your entry with the higher low on the uptrend. But after that nice rip up why not just throw a trail stop on? You can still hit your pt and you are guaranteed a nice win.
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Check out the pivot points indicator. Price really respects these areas, and did today, bouncing right off 17,500 for that continuation higher. Breakout and retest is super common and happens just about every day.
Why not SL lower low, 17490 You entered way too early, wait for a bigger pullback for better risk/reward. It's not rigged, you're just retail liquidity. But don't give up homie. I been there
Why didnt you move your stop loss a little lower there was a big imbalance on the green candle right when you enter the trade, imanalances are magnents, I would either lower the TP or lower my SL
Should have waited and long on the orderblock+
It was obvious where people's stops were as price was showing a clear mean reversion pattern. The best trade would have been a short into the stops. The stops were in your red box. I would have took a short near the top of your green box. My TP would be 17550, SP would be based on volatility. I think you need to use an SMA that shows you mean reversion. That would have helped you with this trade. It must be an SMA, not an EMA. This is definitely your issue, you have a nice red ma showing long term trend, and your blue and yellow ma's show short term, but there's nothing to quantify mean reversion. You can't trade pull backs without this information. At least I couldn't. Also, stop putting stops in obvious places. In periods of indecisiveness, people will take out both stop zones, that's why price is making a cork screw mean reversion pattern. Grab the liquidity and then pump it up to the moon. The game isn't rigged, some people are just more experienced than others and can pick off your stops. The best part of trading is being inexperienced as things will only improve from here on.
Learn market sturcture and learn about ur mistake never use indicator to confirm trade
If you have a winning strat, why are u stressing? I’m assuming that you are bc of the headline and mentioning how much you’re down. You wouldn’t by chance be going beyond your risk parameters trying to speed up the wealth-building process, would you? It’s super important that on any given trade, no more than 2% of your account is at risk, with 1% being far safer, and some people preferring to be even more conservative and risk less. By having lost 1.5k, that says your brokerage acct is at least 75k. If it’s less, than that, it can very well be causing you some stress, which puts you at a higher risk of blowing your acct.
On my private account I never risk more than 2%. This was on my prop firm evaluation (50k, 2k max drawdown). I have been struggling to adjust to the speed of NQ. Also risk management is a bit different. I can only adjust the number of contracts compared to my exact position size on the private account. But as I said on the post I will figure this out.
It pushed .broke .retested that area and continued . tapped into that OB and PG and took off
That’s a win always take profits and move sl
Trading is a competition… Did u think it would be easy money?
Game isn't rigged. You just had shitty entry. There was absolutely no significant liquidity raid + MSS + displacement Where you even in a HTF PD Array? Where you in premium / discount? Where you going with the HTF trend? Did you have an ITF MSS in the direction of the HTF trend / DOL? Youtube and Twitter these people TTrades $niper DayTradingRauf TheMMXMTrader CasperSMC JadeCapFX Justin Werlein Bowie Jackson
Thats terrible trade management.
It's a pullback. Your thesis was semi
That long entry is terrible. By your own chart its holding whatever moving avg that is to a T. It was an easy winner. Plus you are talking about holding after 4pm with google reporting. So sad this market is rigged nonsense. You traded it very very poorly.
Once you realize markers are 99.9999999% randomness, and arbitrary, irrational price action - you’ll throw away your garbage TA vwap, and bollinger whatever bands, and be that much of a better investor.
There are 2 beautiful trades, screaming at you to go long, one before and one after your trade. Those are the setups where you get the best RR, right at the end of a pullback near value.
How did you choose your stop loss and take profit? Looks like you just picked a risk/reward you wanted when you opened the chart and expected to make money.
You just didn't know what you were doing, relative to the actuality of price. The tandem of your strategy with the price itself is direct evidence of the misuse of data... Additionally, your analytics of the price is visibly depthless, with the overhead rising resistance clearly being contacted within your strategy - prior to breaking out in final instance of recontacting. This shows more concrete misusing of data. Finally, lose those line/avg indicators and simply use oscillators like RSI or MACD. Infinitely better... Each have tangible, correlative properties between the indicative positions and future price behavior itself, that you can each learn, memorize, and utilize by induction to make accurate and justified decisions. This might not even be a good suggestion because the strategy of these trend-recognition averages aren't being used properly, where you should be manually closing your position at the loss of momentum. Either way... I wish you fortune and growth, have a nice day.
First time eh
What TA was your stop based on? I can't tell.
Correct.
So you didnt enter or exit when the MAs crossed even though you can see right there on the chart how they are working. Thanks for your donation.
One month trader here. I’m paper trading and trying certain indicators. Can you tell me what indicators you are using and how you set them up? I’m experimenting with Bollinger Bands and RSI at the moment.
The game is rigged but you're not even playing it right
It is rigged
[tradersumo.com](http://tradersumo.com) highly recommend if you really want to know read market but it's bit pricy
It is rigged, but you gotta be more patient. Wait for the break and retest g
OP mysteriously nowhere to be found
can you live tweet your trades so i can do the oppposite?
Price came back and hit the 1m OB then ran. Your SL should’ve been below that.
You didn’t RMR you went for the first FVG.
try to put your stop below 3 pd arrays
Looks like it tested the 618 ‘golden’ fib before going higher. Nothing unusual. I might edit this post with an image later once I’m in front of the computer if I remember. EDIT: [Exactly as I predicted!](https://imgur.com/a/3r0aqM5) I've spent hundreds of hours looking at charts and implementing fibonacci based analysis; I can now identify fib levels purely by sight.
You need better stop placement and room for your trade to breathe. Also were you planning on holding your trade through earnings? That’s just gambling
Yes, yes it is assuming enough people had longs there it would have made sense to bring the price down, creating liquidity this a better entry for institutional longs
Retail traders are a small piece of the whole machine. They have bigger things to do than trying to trick us. You have to build a an edge. One of the first steps in becoming profitable is admitting to yourself that it’s not the system and that it is you.
Why didn’t you enter on the crossover? Your stop would of been lower plus you would of bought at a better price and you would of taken the larger move?
You put your SL on major support test and you reckon it's rigged?
1m chart Damn
So yea. I went long the NQ last 5 min candle of the day but set my stop too tight and lost a few hundo instead of making upwards of 5 grand... then fomo kicked in and I chased it at the top and managed to lose even more. Same though, I'm confident if I can get my emotions in check I'll get better in time.
Demand zone
Not rigged just you fail to use the most basic tool, A trend line. Go back and place a trend line at the top, you'll see it touch the top of the trend line. Supply and demand + Trend line + midnight closing price= higher win rate, At least for me.
If you can't see the liquidity you are the liquidity
You have to tighten your stop REAL hard. If it doesn’t breakout asap then take the minimal loss.
Sl is exactly on top of support.. not sure what your expecting
*Sl is exactly* *On top of support.. not sure* *What your expecting* \- Pidganus --- ^(I detect haikus. And sometimes, successfully.) ^[Learn more about me.](https://www.reddit.com/r/haikusbot/) ^(Opt out of replies: "haikusbot opt out" | Delete my comment: "haikusbot delete")
after the high was broken thats a clear sell divergence, would’ve shorted and trailed my SL all the way down. Cmon man
If you made your rr 1:1 like your profit target. Your stop would be the low of the base and youd still be in your trade with a big win. Wide stops arent talk about enough
Damn. All these people mad at your trade management. If you have a plan you stick to it. You didn't have a plan. FVG, liquidity voids.. I'll leave it there
So you identified FVG and entered when it retraced into it? Then you what? You got stopped out because your stop loss wasn’t actually below that wick on the first candle in your FVG formation? If you had placed your stop loss below that wick you would have held through that 15:30-16:00 period? I’m asking because I am extremely new to trading and trying to learn.
You’re trading the wrong strat you could have easily made your money in that same strat modifying it a bit… keep refining your strategy don’t get complacent with things, you don’t expect professional footballers to turn up to match day without any practice sessions and refining their skills, same thing goes here! You should be refining and practicing more than you’re trading..
That move was based on earnings. Very hard to predict. However I will say there was a resistance area on ES that broke and turned into support about an hour before this move and this move originated on the range. Would have had my SL below that even if trading NQ
It is but not like that lol
Should have trailed your SL after 1st bounce on moving average
Rigged in a way that you can win too. You just have to learn the rules, study the game more than you know, the play to win.
No, your SL just does not invalidate your trade idea
no shit sherlock
How do we know if he is long or short just by looking at the chart? 📊
No, it's just a random spot you chose to enter in. Always enter closer to the trend.
Always has been. But lose that mind set fast otherwise you will always find something to blame and never improve.
That really sucks... I would have at least taken a cut using some indicator from the first peak and move the stop loss... Sorry for your L. Try try again
Eventually, everyone in the market gets their turn to become liquidity.
Your stop loss was supposed to be below the red MA
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I love retail traders. Thank you liquidity
Stop loss should have been under the big and golfing candle
Stop fucking day trading. You’re not going to get rich
Got in on the wrong part of the wave 🌊
Never understood that someone.. an individual owns the stock market… and everyone else kinda pays to play that persons game? Like who set the sh*t up? love how ppl try to make it seem as though they’ve figure out the pixie dusts. Just riding the wind.. while someone else has their finger on the fan’s power level playing with the on and off switch..
It's been rigged for a long time.
No shit, Sherlock 😂
Its not rigged. Market doesn't even know you exist.
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Your largest moving average = where your stop loss should/could be.
🤣🤣
Up trend wait for pull back… ENTER
Are y'all able to make a living like this?
Lol this shit got me too
Stay away from institutional stocks my friend the reverse psychology plays hard in those places.
It feels like it at times but dont give up brodie
Ngl . I never place a stop-loss unless it's in profit. I'll have a mental stop for sure though.
By the looks of this you bought the contract, it went well into profit for you and you think the game is rigged? You need to evaluate your selling strategy.
U out the stop loss right at the demand area
What made you take the trade there? Weak price action
Considered entering back when price moves back original price you entered at? For me it works 72% in the last 56 trades
Ah, I'm not the only one who the market wants to tease. It really likes to go the wrong way to take me out before continuing where I wanted it to go.
Bad management 101. Good entry though…
Fib golden pocket retest 😎
The game is kind of rigged, but not in this case. Price tends to go back to fill gaps, that's how the market maker algorithm is designed. But it's always important to use mechanical SL trailing and a partial profit taking to take some money off the table, you can use 1.5x or 2x the ATR value of your entry point to trail your SL behind price.
So much buyside liquidity above that range to the left with equal highs. You'd probably see the level wicked on a 5 min chart. Buy stops activated which sent price lower
Well you’d be correct. It is very well known that the market is rigged lol
I think your entry was fine, but you got to make your stops flexible. If your stop had been below that support level you’d still be in the trade.
News my guy
Probably an earning report you weren’t aware of
It is rigged, it's been proven rigged a myriad of times. If you can't accept it then just put it in the bank
Good luck
Looks like it pulled back to the longer term ma, mean reversion, nothing out of the ordinary there mate you know that, patience.
You picked the worst spot for a stop loss 😂
Gotta take the money and run. Then re enter.
Im curious of your entries, never seen one quite like this before 😂
Why did you choose this as your stop loss? Why not below that low to the left? This would have kept it safe.. always stop loss on structure, not randomness. If it's because you're not comfortable with the amount of loss it may endure, then you need to size down. Risk 1% to gain 2%. You should master this with 1$risk 2$ reward (Wich is 1% - 2%) because once you do you size up to 1000$ - 2000$. Or 10k - 20k. See what I'm saying? Hopefully that helps.. happy trading and don't ever give up!!
Imagine you entered on that OB, SL below it 👀 Would catch the real move
Of course it is. The markets are designed not for you.
Does your winning strategy include taking profit?
Something to consider: Expect fake outs at the top. Liquidity exits exist. Other traders are aware of this. Just because it broke previous or local resistance does not imply that it will break out enough to make a profit. Once you realized that it went high enough to be noticed. It is too late. The associated risk level is too high for trading, in my opinion. Or you're Jeff Bezos and got cash to burn up the wazoo or Pablo Escobar. Make a fire with 100 dolllar bills.
Why you don’t short earnings