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November 4th, 2023, 11:46 PM
Las Vegas
Experience: Master
Platform: Ninja
Broker: Ninja Trader Brokerage
Trading: Nasdaq Futures
Posts: 405 since Oct 2021
Thanks Given: 770
Thanks Received: 400
Oracle
Dear @
KOTN ,
As your NexusFi help assistant, I've taken a thorough look at your recent trading records. Overall, I've noticed you've made some commendable improvements in your discipline and adherence to your trading rules. Your systematic respect of the 40-tick stop loss is a testament to your regimented trading approach.
On the other hand, I've noticed some patterns that may be interfering with your trading success. For instance, in
Post #892507 , you mention your tendency to engage in "Christmas Light" trading, which could lead to unnecessary losses over time. It's good to see you're aware of this and committed to finding a solution.
A second area for focus is the discomfort you feel while holding big winners, which could potentially lead to premature exits from profitable trades. Emotions are normal, but they should not overshadow your trading rules. Perhaps practicing patience and developing trust in your strategy could help with this.
Another point worth addressing is the discrepancy between your planned and actual reward-to-risk ratio. In
Post #892525 , you mention aiming for a 10:1 or 20:1 ratio, but your stats show you're averaging a 4.64:1 ratio. This suggests there might be room for improvement in achieving your desired outcomes.
Lastly, I noticed your concern about your hit rate, as mentioned in
Post #892526 . While it's true that a higher hit rate might improve your profitability and psychological comfort, it's also important to remember that trading success is not just about
win rate , but also about
expectancy . How often you win is less important than how much you win when you're right versus how much you lose when you're wrong. Your current average loser of -21 ticks contrasted with your average winner of 97 ticks indicates that you've been doing well on this front overall.
Remember, efficient trading is about understanding your strengths and weaknesses and improving upon them. Keep refining your strategy and adhere to the principles of good risk management. And most importantly, the NexusFi community is here to offer guidance and support whenever you need it. We look forward to seeing your continued progress.
Stay diligent and good luck with your future trades.
Yours sincerely,
@
Oracle
Wow great A.I insights thanks
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Can you help answer these questions from other members on NexusFi?
Best Threads (Most Thanked) in the last 7 days on NexusFi
November 8th, 2023, 07:34 PM
Las Vegas
Experience: Master
Platform: Ninja
Broker: Ninja Trader Brokerage
Trading: Nasdaq Futures
Posts: 405 since Oct 2021
Thanks Given: 770
Thanks Received: 400
No trades today really all week has been very tight
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November 10th, 2023, 07:28 PM
Las Vegas
Experience: Master
Platform: Ninja
Broker: Ninja Trader Brokerage
Trading: Nasdaq Futures
Posts: 405 since Oct 2021
Thanks Given: 770
Thanks Received: 400
No trades this week
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November 19th, 2023, 04:17 PM
Las Vegas
Experience: Master
Platform: Ninja
Broker: Ninja Trader Brokerage
Trading: Nasdaq Futures
Posts: 405 since Oct 2021
Thanks Given: 770
Thanks Received: 400
Doing some backtesting over the weekend going to forward test the s&p 500 futures contract this week and post in my journal ... I noticed ES is a but lest volatile
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November 21st, 2023, 06:05 PM
Las Vegas
Experience: Master
Platform: Ninja
Broker: Ninja Trader Brokerage
Trading: Nasdaq Futures
Posts: 405 since Oct 2021
Thanks Given: 770
Thanks Received: 400
ES isn't for me Lol I'm a nasdaq trader through and through love the speed and volatility
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November 22nd, 2023, 06:18 PM
Toronto, Canada
Posts: 365 since May 2018
Thanks Given: 494
Thanks Received: 303
Exactly my thoughts when I switched to NQ!
November 22nd, 2023, 09:13 PM
Las Vegas
Experience: Master
Platform: Ninja
Broker: Ninja Trader Brokerage
Trading: Nasdaq Futures
Posts: 405 since Oct 2021
Thanks Given: 770
Thanks Received: 400
lightsun47
Exactly my thoughts when I switched to NQ!
Yes I really feel like it is built for day trading and the fills are so fast I really enjoy trading it
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November 23rd, 2023, 11:05 AM
Las Vegas
Experience: Master
Platform: Ninja
Broker: Ninja Trader Brokerage
Trading: Nasdaq Futures
Posts: 405 since Oct 2021
Thanks Given: 770
Thanks Received: 400
Happy Thanksgiving!
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November 23rd, 2023, 06:45 PM
Las Vegas
Experience: Master
Platform: Ninja
Broker: Ninja Trader Brokerage
Trading: Nasdaq Futures
Posts: 405 since Oct 2021
Thanks Given: 770
Thanks Received: 400
Trading Philosophy November,22,2023
5 Timeframes:
5 minute chart
1 hour chart
Daily Chart
Weekly Chart
Monthly Chart
Trading Indicators:
RSI (2) Relative Strength Index
ATR Average True Range
21 Period EMA Exponential Moving Average
NYSE Tick Index (15 Second)
Market:
Nasdaq 100 Futures NQ & MNQ
Risk Allocation: R= 20 Points
Max Trades: 3 Per Day
Default Risk/Reward : 1R for 3R
Strategy: Short-term mean reversion day
trading. I look for overbought and oversold zones in Nasdaq futures. The context of overbought and oversold is created utilizing RSI levels of 95 and higher (overbought) and 5 and lower (oversold) levels in conjunction with TICK index readings of +500 (buying exhaustion ) and -500 (selling exhaustion). The 21 EMA and RSI (2) on 1 hour and Daily charts also provide good trend and price location context. Range offers market context of likelihood of continuation or reversion .
Style: Patient aggressive day trader, I limit my self to 3 trading decisions a day. Context and risk management are cornerstones of my day trading. RSI (2) helps me quickly digest price moves and zones. 21 period EMA gives me trend context and offers momentum triggers, I plot it as a horizontal line to help clearly locate its correlation to current trading created.
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November 24th, 2023, 02:32 PM
Las Vegas
Experience: Master
Platform: Ninja
Broker: Ninja Trader Brokerage
Trading: Nasdaq Futures
Posts: 405 since Oct 2021
Thanks Given: 770
Thanks Received: 400
23 questions I'll have answered before every trading day moving forward. As preparation breeds confidence
23 Questions
1. What has happened with price so far this week/month?
2. What has happened in the overnight session?
3. Where are we likely to open?
4. What is the likely trading range today?
5. Which key support & resistance levels are in play?
6. Is there economic data coming up today or soon?
7. Are there any holidays scheduled for the exchange?
8. Do you see any obvious price patterns that stand out?
9. What type of market are we in? (Trending/ Range bound )
10. Where is the price positioned at the moment?(highs,lows,in a range , pulling back)
11. Was previous day a wide range?
12. What was the day like ? (Trending,rotational,choppy)
13. Where was the close ? Midpoint of the range, upper/lower extremes ?
14. Where did price go that subsequently got rejected ?
15. Are there any big levels that are likely to come into play today?
16. What was the range overnight?
17. What has been done overnight ?
18. Where is price likely to open?
19. Do we have any key levels in play from overnight that need to be annotated?
20.What are your filter or screening criteria?
21. Are you looking for specific price action or levels to get involved in?
22. Do you have a trigger pattern?
23. Did you back test prior to the open?
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Last Updated on March 25, 2024