Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
As I said, I did not trade yesterday. Here's today's results. Overall decent, but I had one loser that was too big for my liking so it hurt the performance a bit. Still a profitable day.
Here are the trades today:
As you can see. This is REALLY not rocket science. Simply using support and resistance levels on my shorter and longer timeframe charts to find areas where there might be opposing orderflow (previous swing levels) and placing stops, as well as profit targets, that make sense - given that market structure.
Thank you so much for this thread and all the videos and time you have put in, I have read so many books and threads and journals this is easily one of the best things I have come across since I started.
Makes me very happy and satisfied to see that my work here is helping some people. Good stuff.
Positive on the day.
Here's the trades today (a good many small winners because I kept going for larger profits and the markets were chopping around not giving it up)
And the daily P/L for the week (didn't trade Monday)
Overall, for me, this was one of those really rough/difficult trading days, but I stayed in the right mindset and was able to walk away slightly profitable. So today is actually a big win day.
it's nice to see a pure (my definition) trader doing it and doing it well.
I'd like to echo @cmmichaels post and say that i hope your videos and time posting
is helping you as much is it is us
Secondly, i'd like to request that on your next daily recap, you go over your entry's
and which chart (2 range or 250 tick) do you use for them primarily, or is it a heat of
the battle, seat of your pants type thing.
Looking back on a few of your videos, i see your entry's are sometimes little double
tops (bottoms) on the range chart or they could be price action related on the 250tick.
...just wondering and once again from one SEC'r to another, thanks
Doing this has been helpful to me too. I think the biggest way is that it causes me to clarify/quantify my own (often subconscious) methods when people ask me how I do this or that.
I can go over entries, sure.
You're on to something there about the multiple timeframes. Often times a price action pattern on a smaller timeframe will simply be a candlestick pattern (a hammer for example) on the longer timeframe. Once you really get used to price action and multiple timeframes, you almost see them all regardless of which one you're looking at.
I'll do my best to be more aware of what I'm looking at when I make decisions and bring that to a video for you. Just thinking about it now, I can say for sure it's very situational. For example if we're in a very fast trend, I'll be watching the shorter timeframe for small pullbacks which barely even print on the 250 tick. When price reaches levels of support/resistance, I often look to the lower timeframe to see how price is reacting to the level.
In any good trade, I'm fading weakness. More times than not it's a bad trade if I'm chasing strength. That's really the whole deal.
IT7 I have another quick question as well if you don't mind me asking, you say you only started trading full time in Feb. How did you find trading around a job it is quite tricky I can at least trade the last 4 hours of the US I'm over in the UK. Were you still trading this way just around your day job?