Week 01/Day TWO (22)

         

  • Live trade video for today’s post
  • Kerplunk as the market tumbles on one solid trend
  • Week ONE/Day 2 trend on the charts
  • Pullback across the board (YM exception)
  • The last word – SIM vs. LIVE
  • Joining our community of like minded traders
  • Celebrating today: Perihelion Day

Attempting to determine which way a market will go on any given day is merely a guess in which some will get it right and some will get it wrong. Being prepared in either direction intraday for the strongest probable trend is by plotting your longer term charts and utilizing an indicator of choice on the lower time frame to identify the setup and remaining in the trade that much longer. Any chart posted here is merely a snapshot of current technical momentum and not indicative of where price may lead forward.   


Looking back one day @ a time…..

Good trading is always going back over the trading day and reviewing the setups that may or may not have worked out and what kept you in or perhaps took you out too early. Looking for the trend move and remaining in the setup is the objective. It’s your patience and discipline that will continue to grow as a trader when you implement such tools.

Markets currently trading: MNQ, MCL

*Results will vary for each individual trader based on market entry/exit and/or live versus simulated environment.


Live Trade (Real Money) Video:


By the Numbers…..

  • Week one setup win ratio at 4/4 for 100% on 50+ tick setups.
  • Four week total: 66/69 (95.6%)

*Disclaimer: Daily/Weekly stats are complied on a 24 hour market. It does not represent the actual trades taken and if a loss occurred. Personal trading stats are shared intraday with members of the TradignFibz community via slack and here in the blog.


Trend Highlights

Setups reflective of highest probability trend based on price action crossover of the T3 moving average in sync with momentum indicators and using 1 of 4 possible trade management setups and exit strategies. Market order entries/exit will vary whether simulated or live for each trader. All setups are called out on real time charts in a screen share room and randomly posted online.

———————————

NQ/MNQ

The chart could easily be representative of any of the three indices today (YM excluded) as price action found its way down south. As reviewed in the video above, we are currently in stage one of a four stage process in enabling traders to feel confident to hit the live button and take an actual trade. While the trend clearly identified itself once complete, the primary goal was to take the trade on the initial setup and look for an opportunity to jump back in.

Two more attempts (not recorded) occurred downside on the lower 50-35 flex renko time frame after the post one hour leading into the AM session close. In the end, one scalp of 40 ticks is nothing in comparison to the entire move, but as I always say, it doesn’t matter how many ticks, as long as you got a bite.

Trend moved it’s way down to the 50ma which ended the move for the session while the MML weekly level shifted downside.

Full session

———————————–

The Last Word….my 3 sense

Time to clarify: Sim vs Live vs Live Sim.

I can now say, I have been at this for some time, though not as long as some others and have found the niche that works for me. As a teacher from the college days, it is in my DNA to want to not only share what I know but have those in my community do better than myself.  I can’t say as much for what I have seen out there in the YouTube lands but this is not about what is out there, but to clarify my own postings of trade results.

As with any new strategy or wanting to test out the charts, I clearly shout out from the tops, this is a simulated setup or it is clearly written on the charts for all to see. While I would prefer a different term for LIVE inferring real funds, all setups are LIVE if playing during the market hours simultaneously be it simulated or with real money during trading hours, unless of course you are on replay or market review after the trade has occurred. I can’t speak for other platforms however with the Sierra charts, it is very clear on what trades are using real dollars vs simulated ones.

This slideshow requires JavaScript.

Gold Standard? Transparency in upper corner followed by order fill on the charts as seen below.

Real Money Trade

Anything less, you can assume was a simulated setup in the event I forget to clarify.

——————————-

Chartbook Template

If this strategy is of interest to you, please join us daily in the trading room with access to the chartbook templates and trading with like minded traders. Information may be found here.


Celebrating Today

Perihelion Day.

It occurs about two weeks after every December Solstice, and on this day, Earth’s center is approximately 91,402,500 miles from the sun’s center. On this day, we can keep a lookout for the big ball of fire being at its largest.

Info Credit: Nationaltoday.com; Image Credit: fox8live.com


Government Required Risk Disclaimer and Disclosure Statement

CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.     

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s