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NQ Traders

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scalper4,

 

the NQ had another perfect session today. 3 wins for 36 ticks of profit. the best part was i got done in the first 15 minutes of the session.

 

just a heads up you can always click on the thanks button on a post to save the time of writting a sentence out. not a big deal just thought i would throw that out there.

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Thanks for the info guys.n Just getting into trading and was told to start with the NQ. Just opened a Tradestation account so I will take a look at some of the settings mentioned.

 

What indicators do you all use to take these trades? I have a long way to go but everyone has to start somewhere right?

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Definitely a great day on the NQ 1pnt rangebar today.. All week, in fact. Also, the 2 point which is a much slower, easier chart to trade, had a great day and week too. In fact, last week was also amazing. I think I only had one loss last week. This week had a few more losses but still ended quite strong. It ends up being a 7 point trade and if you just trade until you have at least 2 winners and a positive result you'll have a happy ending most of the time. Not as exciting as the 1 range but not nearly as manic either.

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Indytrader, welcome to the forum. I agree that the NQ is a good futures market to start on but I would not be overzealous to jump right in without a well reseached and practiced trade plan. You can get good size trades with lower risk parameters due to the $20 per point and $5 per tick price movements which is good. But, you need to be on top of your form from an execution point of view becuase it moves fast and forces you to get good, real fast.

 

I use the HVMM trade system (google it if you want more info). I think it is an awesome trade system. It uses proprietary indicators but what I love about it is that it is dynamic and adjusts to current market conditions, and uses price action to base its setups on. The indicators are used to confirm the setups and then to calculate the entire trade profile, which then shows up right on the chart. It is too easy. lol.. I don't mean to sound like a commercial.. That's not my intention. But since you asked about indicators, I thought I would share with you what I use with the NQ and the 2 point range bar, although the 1 point range bar looks great too; smaller risk but requiring more execution skills due to the speed at which it can move at that faster timeframe. Hope that helps.

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the NQ had another perfect session today. 3 wins for 36 ticks of profit. the best part was i got done in the first 15 minutes of the session.

 

Hi cuttshot,

 

Nice trading. Any chance of you posting a chart and showing some of your trading techniques?

 

Thanks

 

~Mike

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You will probably go down the path of learning everything that does not work from experience first. Be prepared to be committed for 3-5 years. I use only zero lag indicators called trend lines , support and resistance. However, my first 2 years was trying all indicators. Keep in mind, everything including lagging indicators works in a trend.

 

 

What indicators do you all use to take these trades? I have a long way to go but everyone has to start somewhere right?

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Jajuan2 offers some good advice I think. I would only say that there are a lot of ways to skin the cat and everyone has a different learning curve. Still though, to be considered Pro at anything takes about 10,000 hours. You can shorten that perhaps if you get yourself a good mentor.

 

Most indicators do lag but they can be very useful as a component of your trading. I base my trades on pure price action, which is happening in real time at the right edge of the chart. I use a very few select indicators, not to base my trades on, but to either confirm my trades by corroborating the price action, or to actually calculate the size of my trade. The idea is to use the indicators to 'tune' the size of the trade to the current market condition. I didn't hear Jajuan2 mention anything about that type of application of indicators and in fact, I don't think there are very many out there that use them for that sort or purpose. But for me, it has been very effective. Like I said, there are many ways to skin the cat.

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Mike,

 

I haven't shown any charts up to this point because I know how it gets on forums with people posting charts of paid for systems. I'm not here to promote any system at all. After buying many different systems, the one I'm currently using is by far the one that has fit me the best. If you want more details on the system I use, send me a private message and I'll send you some screen shots.

 

indytrader you already have some great advice available to you. I would second Jajuan2 and amcan. It is very important to take your time. The markets will be open next week, next month, and next year. Make sure you take the time to create a trade plan for yourself before putting any money on the line. You will also want to take some time getting to know your charting/broker platform. There are a few of us here that are trading the NQ so feel free to bounce questions off of us. I'm not an expert by any means but I have been in your shoes and know how important it is to soak up as much knowledge as possible.

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Good point on the 10,000 hours. 10,000 hours applies to most things that are worth accomplishing in life. The key is you have to have passion and drive to make it through the journey. Anything that is easy and can be done in a short period of time will not have the same financial payoff as something that 90% of people are not able to do.

 

 

Jajuan2 offers some good advice I think. I would only say that there are a lot of ways to skin the cat and everyone has a different learning curve. Still though, to be considered Pro at anything takes about 10,000 hours. You can shorten that perhaps if you get yourself a good mentor.

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Avalanch,

It is my understanding that a Share Bar is the same thing as a volume bar or CVB. It measures shares or contracts just like volume. If I am wrong, someone will correct me. I use range bars personally. It is all about price, but volume is a great indicator of the momentum of the move.

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Time based charts with volume are a good indication of momentum. You need time in order to calculate momentum. When the average retail investor looks at buying or selling stock they are mostly looking at the number of shares and the price. Range charts works nice also, you just have to fine what you like and master it. Also learn to put price action into context of the higher time frames guys that move the market. A lot of the intraday price action appears to be random until you put it into context of what the big money guys are seeing on the daily and weekly charts. What feels like a crash intraday is just the weekly guys offering all the day down to the next weekly support level.

 

Avalanch,

It is my understanding that a Share Bar is the same thing as a volume bar or CVB. It measures shares or contracts just like volume. If I am wrong, someone will correct me. I use range bars personally. It is all about price, but volume is a great indicator of the momentum of the move.

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I like the way range bars appear in real time, but I've noticed that once you close the chart or session and come back, the chart is different - the bars are not the same as they were. I don't know why that is, but it has prevented me from back testing using range bars.

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Mark,

 

You have to make sure you are going back to the same day each time you load up your charts. If you don't you are going to be starting at a different point which is going to change the range sequence. So when you test just set a date and then make sure that is the starting point each time.

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Who do you use for data feed?

 

I like the way range bars appear in real time, but I've noticed that once you close the chart or session and come back, the chart is different - the bars are not the same as they were. I don't know why that is, but it has prevented me from back testing using range bars.

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Cutt,

You can keep that broken recording going and going. It is nice to hear that your system or strategy is doing well. Keep us posted. I just wish I had time to trade the NQ along with the 3 other markets I am doing. Maybe I should swing trade it.

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Who do you use for data feed?

 

Mark,

 

You have to make sure you are going back to the same day each time you load up your charts. If you don't you are going to be starting at a different point which is going to change the range sequence. So when you test just set a date and then make sure that is the starting point each time.

 

I'm using Tradestation. Looking at the current day's activity, the range bars are forming bla bla, but if I close the session and come back the bars are different using the same exact range/criteria, etc.

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I will show you mine..if you show me yours:) Here was yesterday. Not perfect. Got into a long that did not work. Then a nice short and then another small short winner. Today was great with short after short after short.but that is too easy right?

What I like is that the numbers are all there, the entries, targets and stops are all on the screen, so very easy to trade.

nqu10.thumb.jpg.ffb40cef1b1345bbb055b11bcc3316de.jpg

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thanks for your chart.

I have tried 3 range bar, 5 range bar, 7 range bar, and 13 range bar.

I like the signal 13 range bar gives, but since the stop loss is way out of my afford. I may want to settle in either 5 or 7.

How do you find 1 range bar in trading? and where is your entry and stop loss?

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Not sure if you are referring to the posers chart just above but if so, it is definitely Tradestation and looks like a 1 point range bar. I believe they stated they like a 1 point range bar for daytrading or a 2 point range bar especially when trading is active.

 

Someone also mentioned above that their bars might change a bit if they close and re-open their charts with range bars -- while I haven't observed that, if it's happening I don't think it really should dramatically change the results over time. Maybe on a trade by trade basis but I'd assume it would balance out since the difference shouldn't be too dramatic.

 

Another interesting bar type are Renko Bars. Think of them as Range Bars but with no overlap allowed -- like bricks stacked on top or below of each other. But, I guess that's a whole other conversation....:)

 

 

 

 

What program are you using?

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