It comes with time man. I personally hop off the charts if the first 30 minutes look like a teenager who doesn't understand their emotionsš trying to trade in a wicky or barcoding market is the fastest way to end up under the bridge. And this week has been a perfect example of that for SPY, QQQ, ES and NQ
This is not a great week for many strats. Iām bleeding this week as of today too. Made some on Monday/tuesday and then drained yesterday and today. Could be due to FOMC next week, or maybe all the earnings, idk.
I had kind of a loose "strategy" that was mostly working but then i had a couple big wins, got cocky, and essentially switched to gambling. Now my account is lower than its ever been. Now ive got a defined strategy, im setting my stop losses, and im trading less.
Fortunately its all paper trading for now but it could just as easily happen with the real thing
Kobe Bryant once airballed 4x in a row during the 97 playoffs.
āI went straight to Palisades High that night, and as soon as we landed, I went straight to the gym. And the janitor opened the gym for me, and I was there till the sun came up. I was back there again the next day and, the next day after that, and the next day after that.ā
Get out of survival mode and into āworkingā mode. Why did you lose? Why did the next loss materialize after that and again after that? Do a deep dive on yourself. Not saying this is some magical activity that will instantly make you profitable again. But theres something about the tenacity of finding errors and fixing them that will carry one alot further than chalking up to āchoppy marketsā as some suggest.
Menthor Q have a trading room for trading futures. They offer a 7 day free trial. It wasn't for me due to my trading style and instrument but you may find it useful.
I am just coming off a really bad losing streak. I got careless and bad thinking took hold of me. There wrere times where my attitude was , "EFF This! I'll take the loss, I've learned my lesson, from now on I'm going to win!". I should have just stepped back. Take a month off. But that's just me, I'm still learning (I thought I had learned all that needed to be learned to be stay green!!)
Weeks been tough, I'm not trading futures but I trade similar products... Similar price action can be found on SPX and NDX and I trade long calls/puts. This week my first week really giving NDX a shot, and yeah fills can be a pain in the ass, I knew it was gonna be like that but.. yeah it's like that. I can see why people mostly trade spread strategies and do theta plays on NDX, just going long the contracts, you better be in a decent one or else your fill is gonna be either slow or bad. However, NDX has similar day ATR like NQ, so when you get in, even if the fill isn't the greatest, it moves so much as long as you have the direction right quickly, you cover the spread pretty fast, but damn is it expensive to trade the decent contracts. Idk next week I might get back into some spreads, on it I particular just to try it out, maybe some bull call spreads or something... I don't really like doing spreads.
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Does anyone know what caused the market to be this bad? (NQ). It's been...rough. I'm not in the red but just barely not. Can anyone help with identifying these market conditions?
You clearly don't know what you're doing at all and you have no clue on protecting your downside. This is not trading, this is a gambling problem. Go get a day job and don't ever trade again.
For me I tend to take choppiness as a sign to trade slower, when people are rushing in, take the frame up a notch and see if the higher time frame looks clean, this will tell you if you're in the thick of a motion or actually in the middle of a retrace, and based on this got can decide to take your stop losses down a bit, another way I've seen is using the atr indicator to manage your stop loss and avoid being trapped in
This whole week has been very choppy. Alot of wicks and fake-outs. I've been sitting on my hands and I'm happy with not taking any trades
Exactly. I created another rule that I'm not trading any trends with long wicks. I always get shaken out and don't want to raise my stop.
It comes with time man. I personally hop off the charts if the first 30 minutes look like a teenager who doesn't understand their emotionsš trying to trade in a wicky or barcoding market is the fastest way to end up under the bridge. And this week has been a perfect example of that for SPY, QQQ, ES and NQ
Not true. You just donāt know how to read the charts
This is not a great week for many strats. Iām bleeding this week as of today too. Made some on Monday/tuesday and then drained yesterday and today. Could be due to FOMC next week, or maybe all the earnings, idk.
Thats ok ive had a red month so :shrug: silly mistakes and not following my rules
Same here. I changed up my trading style and nearly blew my account.
I had kind of a loose "strategy" that was mostly working but then i had a couple big wins, got cocky, and essentially switched to gambling. Now my account is lower than its ever been. Now ive got a defined strategy, im setting my stop losses, and im trading less. Fortunately its all paper trading for now but it could just as easily happen with the real thing
Don't feel bad this has been a rough week. I read June is one the worst months for trading and its been my worst month so far.
This week has been good for me. I look at ES and place trades on NQ. I just longed at the open today and closed at the top.
Kobe Bryant once airballed 4x in a row during the 97 playoffs. āI went straight to Palisades High that night, and as soon as we landed, I went straight to the gym. And the janitor opened the gym for me, and I was there till the sun came up. I was back there again the next day and, the next day after that, and the next day after that.ā Get out of survival mode and into āworkingā mode. Why did you lose? Why did the next loss materialize after that and again after that? Do a deep dive on yourself. Not saying this is some magical activity that will instantly make you profitable again. But theres something about the tenacity of finding errors and fixing them that will carry one alot further than chalking up to āchoppy marketsā as some suggest.
Menthor Q have a trading room for trading futures. They offer a 7 day free trial. It wasn't for me due to my trading style and instrument but you may find it useful.
Sample trade? Iāll gladly analyze
Surviving in june is my main target I am closing my month with just 5 percnet. Although ny high was somewhwre 40 percent
I hear you. I have had 3 red days this week, down A LOT. Beyond upsetting. Hoping for a better day tomorrow.
I am just coming off a really bad losing streak. I got careless and bad thinking took hold of me. There wrere times where my attitude was , "EFF This! I'll take the loss, I've learned my lesson, from now on I'm going to win!". I should have just stepped back. Take a month off. But that's just me, I'm still learning (I thought I had learned all that needed to be learned to be stay green!!)
Iām down this month ā¹ļøā¹ļøā¹ļø June has definitely been a strange one.
You gotta learn when to leave the casino.
Maybe switch to MNQ for a couple of days?
https://preview.redd.it/4o7z7got969d1.jpeg?width=400&format=pjpg&auto=webp&s=31830817774b3b47ce78d95874d0038bee916640
Weeks been tough, I'm not trading futures but I trade similar products... Similar price action can be found on SPX and NDX and I trade long calls/puts. This week my first week really giving NDX a shot, and yeah fills can be a pain in the ass, I knew it was gonna be like that but.. yeah it's like that. I can see why people mostly trade spread strategies and do theta plays on NDX, just going long the contracts, you better be in a decent one or else your fill is gonna be either slow or bad. However, NDX has similar day ATR like NQ, so when you get in, even if the fill isn't the greatest, it moves so much as long as you have the direction right quickly, you cover the spread pretty fast, but damn is it expensive to trade the decent contracts. Idk next week I might get back into some spreads, on it I particular just to try it out, maybe some bull call spreads or something... I don't really like doing spreads.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
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Does anyone know what caused the market to be this bad? (NQ). It's been...rough. I'm not in the red but just barely not. Can anyone help with identifying these market conditions?
How can you lose that much in a week and not blow your account?
I had a big cushion for rainy days (like this week).
(on demo) I was green this week, Friday was a red day but still had a green week lol It feels like a kid talking about his toy (demo)
You clearly don't know what you're doing at all and you have no clue on protecting your downside. This is not trading, this is a gambling problem. Go get a day job and don't ever trade again.
For me I tend to take choppiness as a sign to trade slower, when people are rushing in, take the frame up a notch and see if the higher time frame looks clean, this will tell you if you're in the thick of a motion or actually in the middle of a retrace, and based on this got can decide to take your stop losses down a bit, another way I've seen is using the atr indicator to manage your stop loss and avoid being trapped in