Week 01/Day THREE (22)

         

  • Live trade – AM Session scalp
  • Continued “Kerplunkness” as the market tumbles on FOMC minutes
  • Week 52/Day 3 trend on the charts
  • 2 hour MML hits Major S/R
  • The last word – Wisdom quote
  • Joining our community of like minded traders
  • Celebrating today: Whipped Cream 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):

MNQ – Scalp

If your looking for a trade progression to move from a simulated to a live platform, we are currently in stage one of four stages to becoming a confident Jedi trader starting on the micro markets.

  • Stage 1: One contract, In/Out
  • Stage 2a: Two contracts, In/Out 
  • Stage 2b: One contract runner if not ready to trade multiple contracts
  • Stage 3: Two contracts, One off, One runner
  • Stage 4: Three contracts, Two off, One runner

By the Numbers…..

  • Daily Total: 5/5
  • Week one setup win ratio at 10/10 for 100% on 50+ tick setups.
  • Four week total: 96.3%

*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 TradingFibz 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.

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NQ/MNQ

In my post dated 12.31.21, the MML was the levels to watch for the next level down or whatever needed to happen upside to tag upper highs as seen in the images below. Clearly on the intraday trend, the chase was on to find support downside which ended up tagging the 15937 and resetting our MML to all three equal square widths.

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With five setups on the chart today (seen below), it was patience that drove the us to either wait for the setup and evaluate on the bar close. Once in a trade it came down to simply let the momentum work itself out. Whichever strategy one chose, it came down to solid trade management as the FOMC minutes were released.

Full Session

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The Last Word….my 3 sense

 I couldn’t say it better myself than the Tweet I saw today by @Jake_Wujastyk

There is ALWAYS a trade out there. However, that doesn’t translate to “You always have to trade.”

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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 – Whipped Cream Day.

 

Whipped cream is a sweet treat that we’ve been creating for centuries. The earliest recipes for whipped cream date back to Italy in the mid 1500’s. Not actually called “whipped cream” until the late 1600’s in England, early recipes dubbed the confection “snow milk” and recommended beating heavy cream with a willow branch until foamy. 

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

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