$1000 in 12 minutes! Live NQ trading 7-14-21

[Music] good morning everyone uh go over a little bit of a swing trade i did last night one of them went well the other one not so much so i had this is what my chart looked like yesterday market closed um i was thinking if we break below here we'd have a nice move down so i opened a couple contracts with a 20-tick trailing stop you can see i got filled on the short came down got i'm sure there's 20 tick move here yeah see look at that 20 ticks from the low of that wick so that's where i got stopped out went pretty well though uh three contracts so it ended up being almost 750 bucks um and then i had another one here because i was looking at the levels earlier i was thinking okay if we come up to this area uh we will probably reject because there's a lot of volume i figured we might consolidate and then come down which is what we did but i think i had my trailing stop a little too tight so i got filled got stopped out i only did two and you can see i got filled on my two shorts one ten dollars profit one five dollar loss so after commissions still lost money on that it's okay so now coming into today we're almost at half an hour after market open and this is where we're at so coming into this i'd like to draw me some lines because that's what i do to try to create some trends to trade i'm so looking at this i know that the market opens 6 30 my time which is about here we get a lot of volatility so i don't really take the wicks uh into consideration for that because there's so much price movement volatility that i like to use the ones formed before this volatility and then the ones formed after about about now spent half an hour after market uh opened at least a new york exchange stock exchange market so at this point here's what i'm looking at i see this trend that we're beginning to bounce off of there's two things i'd look for here this possibility that we could bounce up it's looking to me a little bit like we are forming a bit of a bull flag here i'm not going to draw that because it's very weak but that's what i'm looking at what i do see here is that we broke out above some a pretty good resistance level here came right back down so now i'm thinking we're probably going to find some volume here maybe break down for a little bit higher low before breaking up so what i will do now is trail short because i'm thinking we'll probably come up here come back down for another test of this so i will trail from the bottom so that way i ensure a fill do three contracts i'm filled on all three so i like to do is keep my my entries a couple points away from the current price because that way if we have a good pulse up i can move them up and then be good to go so right now um so i'm on a short i don't have a stop and i always tell people always have a stop but i sometimes don't like to that's why i just keep my eyes on this flattened button i see i looking at it let me turn the trading off visual trading turn that off so i see we have a wick here i would think this area would be the high which is about 7 2 so to be safe place my stops there so let's see what happens one thing that i'm always always doing is as soon as possible stops in profit so one two three got my stops and profit i apologize for the beeps trail them down bail them down hey oh this is how i scout and see i'm keeping them closer now there we go i'm at them all well sorry lots of beeps there but there we go that was a almost thousand dollar trade you can see i sold three contracts 365 305 275 3 contracts not a bad trade there did exactly what i thought it was going to do came down but again this is very short-term thinking i'm not worried about i'm not worried about where the market's going i'm worried about what's happening in the next candle or two so we came up came to this level that i was thinking i didn't draw a line or anything because you know it's not i like i only like to draw lines on for longer time frames i mean i can clearly see that that is an area where the price couldn't break through we did break through it if i was trading earlier i probably would have made the mistake of trying to play a bounce back in this area as a breakthrough and retest but that's why i like to stay out the first couple candles because there's just a lot of volatility there now exactly what i was thinking is going to happen happened we broke down created a higher low before another re-test now because we have so much buying pressure if i was aggressively scalping i might have tried to long this because i'm thinking now we're going to break above this because we have so much buying pressure maybe we'll get another candle before we go above but at this point polish side of things so what i like to do in situations like this is stay out for a while uh i mean i could try to short it again here again with stops above this but right now i don't like it as much necessarily have a reason why it's just trades i like to stay out of i like i like to only do trades that i am interested in taking for some reason right now i just don't like it as much we have a huge candle when you have two big candles like this they end up looking like a doji on a higher time frame five minute chart that's a terrible example but they kind of act like a doji uh when you have i mean i guess that's just a bullish engulfing candle now maybe as we didn't break through we're finding some resistance here i might be interested in sorting it again i like to sometimes draw what i consider a weak trend line which is very short timeframe trend line for bounce levels so maybe short it again here which we again top here let's try it but what i'm going to do is trail it a little bit further away because if we break through here we keep away from the price if we break through this line that i have here i want to stay out of the trade so happens if we get like i said i think if we get good push here yeah see i like it as much breaking through get rid of that line doesn't really mean anything watch see there's the other way i could have played that which is probably would have been better is instead of playing the short down to the line i could have played along down here but again i'm not super concerned as you can see in what was that between 58 a minute and a half almost a thousand bucks i'm not super concerned with uh that sorry for the ranting i'm just kind of live trading here a lot of people have been asking for it um let's see if we see anything else one thing i might be interested in doing is doing a short here at a double top but again because of because of when it's happening write it open i don't think that this top is a very strong level um we're coming up to 15 000 which may or may not be a strong resistance level for nq i'm thinking it won't be um i think we're probably going to consolidate here a little bit break above i'll show you some of the other lines that i have drawn if we go to like a 30 minute chart this is what my chart looks like now i have this lower channel that we almost hit here i have this upper channel so you can see we're trading in this upper channel here longer term moves i my personal rule is never trade in the middle of a channel for a long term trade i don't really trade that way with futures but if i'm looking at options um only trade when you're at the upper upper area or the lower area of the channel if you trade in the middle there's a lot there's it's a little bit harder to detect the movement of how it's going to move so coming up here about to hit this line which kind of coincides with this 15 000 level might be some good resistance but i'm i'm thinking it won't be so i guess we'll see here together um and you can see if i would have tried to play a double top here clearly even if i tried to play it i would have had to have you know 20 tick stop which isn't terrible but what happens here again i tried on a two-minute chart i had someone with a question on how to show levels if you right click on your chart and go to settings you can go to visual trading i believe no it's not it is price scale can that day high low that's where this high and low you can turn that on and off change the colors you can put on previous clothes put on price limits i actually don't know what that is yeah there's a guy that's had a question about how to show that i think he was asking about how to show the spread like the bid in the ask i do not know if you can chart the bid in the ask i do not think that you can put it on your chart the bid in the ask which i wouldn't want to do anyway because it would just have a bunch of lines that are very tight together it'd be harder to see what's going on here now i'd be looking at maybe long in here because it's coming back to this level this will be kind of a break and retest again i try to keep my entries away from the price a little bit because if we break through with a lot of volume i'd rather be out of the trade um so now i'm in and i could put put a stop down here but i'm going to wait because a lot of times we'll get enough movement to where i can at least get a couple dollars profit and if we start to come down in this area i'd normally just hit the flat button but we're good that's one trim two there because i feel like there's a risky trade or rather get out and now i'll trail the for profit on a couple like i said 60 bucks on two of those 70 on the last could have held it longer but again money moved so quick in this if we get a big fat red candle down i'd rather make you know 200 bucks then lose even faster even more so that's a lot of people will see i trade a lot of contracts that's because when i'm scalping almost as soon as i can like as soon as i have you know if my entry is down here this is my entry as soon as i have two or three points enough room where i can think i can put my stops in profit and let it ride a little bit i will do it as soon as possible which means i end up with a lot of trades but every trade even if i'm only three points in profit at 60 bucks so the money moves quick so i'm more concerned with uh putting a stop and profit making sure that i guarantee profit and then if i can let it run a little bit um like this trade i probably could have held on to longer but you know every test sometimes when we retest a level breakthrough we have a wick re-test and it just shoots back up sometimes we consolidate a little bit but i would rather you know get a little over a thousand dollars so far in 12 13 minutes so there you go if you have any questions let me know

Channel: Primate Futures

Views: 695

Rating: 5 out of 5

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Id: OQH5BTAvBqo

Length: 13min 8sec (788 seconds)

Published: Wed Jul 14 2021