So, I didn't get an entry before 9:30am EST - needed NQ to test 1588 (pink dotted line on 30min chart below), and it didn't do that until market opened.
NQ 30min
Switched to 5min and 1min charts after market opened, and waited for NQ to break out of 1580 to 1588 range.
When it did, 1min chart was used to ensure that movement was going to be DOWN all the way - at least for the whole time that I'm in position.
Got in and out of my position within the 10 am candle on the 5min chart.
Reason for exit: the range of that candle was about the length of the bear flag pole, and I was getting uncomfortable (no math involved, just my eyes doing some primitive estimation).
After I got out, NQ went down an additional 6 points before retracing.
Didn't bother me.
The only feeling I have after closing a winning trade has always been that of relief.
I don't have to get greedy - the 10 contract size has been effective in keeping greed at bay, for me.
When it did, 1min chart was used to ensure that movement was going to be DOWN all the way - at least for the whole time that I'm in position.
Got in and out of my position within the 10 am candle on the 5min chart.
Reason for exit: the range of that candle was about the length of the bear flag pole, and I was getting uncomfortable (no math involved, just my eyes doing some primitive estimation).
After I got out, NQ went down an additional 6 points before retracing.
Didn't bother me.
The only feeling I have after closing a winning trade has always been that of relief.
I don't have to get greedy - the 10 contract size has been effective in keeping greed at bay, for me.
Having a daily target helps too.
NQ 5min and 1min
Black dotted line at the bottom of the 30min chart was my DREAM profit target (it's possible for NQ to hit that today, I think). It's also a support that I'd use if NQ were to continue to plunge and if I were to trade the after-lunch session.
With NQ, I've been trading ONLY the 1) pre-market, 2) before-11am, and 3) after-2pm sessions. These seem to be my money windows - giving me profitable trades that don't make me sweat first.
The prevailing bearish sentiment and atmosphere of uncertainty is something I can use to plan my FX trades for tomorrow.
It's past mid-night here - time for me to take a shower and hit the bed.
Sending Al back to the clinic tomorrow morning. He will have to stay there for a few days so that he can get his drip to flush out the enzymes that are making him sick. I'm going to have to bring a good book to read - if I can't bear leaving him behind, I'll stay with him til clinic closes.
So, likely to open FX position during US market open. Not my favorite play, but if the market offers an opportunity, I'll take it.
With NQ, I've been trading ONLY the 1) pre-market, 2) before-11am, and 3) after-2pm sessions. These seem to be my money windows - giving me profitable trades that don't make me sweat first.
The prevailing bearish sentiment and atmosphere of uncertainty is something I can use to plan my FX trades for tomorrow.
It's past mid-night here - time for me to take a shower and hit the bed.
Sending Al back to the clinic tomorrow morning. He will have to stay there for a few days so that he can get his drip to flush out the enzymes that are making him sick. I'm going to have to bring a good book to read - if I can't bear leaving him behind, I'll stay with him til clinic closes.
So, likely to open FX position during US market open. Not my favorite play, but if the market offers an opportunity, I'll take it.
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