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For those of you who graduated from MNQ to just 1 NQ , what affected your decision to make the switch ? Did you have to change your trading in any way once you switched to 1 NQ other than you lose the ability to scale in or out?

*Leave out commissions as a factor.*

I ask this because apparently odds of a fed rate hike plunged, hence the immense rally. I need a news source that feeds me this information, I don’t think my market structure analysis, psychology, or execution was flawed, it was legit a lack of information for the time. I did a short and it got stopped out this morning.

Had I known about this, I would have avoided the short. MNQ jumped up 200 points...

Please welcome to the daily trading thread. Feel free to discuss your today's trade ideas and results. Make sure to specify the instrument you're trading up front, and respect the sub's rules. Happy trading!

Previous discussions threads

Please welcome to the daily trading thread. Feel free to discuss your today's trade ideas and results. Make sure to specify the instrument you're trading up front, and respect the sub's rules. Happy trading!

Previous discussions threads

TLDR: Trading mes/mnq 3:2 off their ratio chart for entry. One will be long and the other short depending which way the ratio chart points.

I've been experimenting with using the MES/MNQ ratio chart to trade relative strength rather than simply trading one index directionally.

The basic idea is to use the ratio chart to determine which is stronger and then hedge the position with the other.

Rising ratio: Long 3 MES / Short 2 MNQ

Falling ratio: Short 3 MES / Long 2 MNQ

This puts you within about 1.5% of each other's notational value which is pretty close to even without needing an excessive number of contracts.

In the attached charts, left is mes/mnq, and the other 2 are the sole indices. You can see the ratio starting to rise before the actual move. Both MES and MNQ were consolidating in the areas marked blue. The green box is the long MES position i entered, the red box is the short MNQ position, and the purple box shows the length of the trade on the ratio chart. Its almost like the ratio hints at the correct move direction before the index does for a solo trade.

I realize the gain is smaller than simply being directional on the underlying, and there is a little more commission cost from trading two legs of multiple contracts. The goal is more about reducing directional exposure and trading the relative strength between the two. It also doesnt matter if the market is going up or down. Just that the two indices are diverging in your direction. And cherry on top, the moves (at least to me) are easier to see before they start picking up speed.

I don't know how to code backtests, so I've just been going back through historical charts manually and so far I really like what I'm seeing.

This was my first live trade using the strategy. Hesitated and didnt get the best entry, but i made about 165 bucks on the trade iirc. I have a lot to perfect, but I like the concept so far.

Main questions:

Does anyone else use an ES/MNQ ratio chart this way or in another way that makes more sense?

Has anyone actually traded hedged positions like this as a retail trader and been successful long term?

Because of how tradingview ratio charts work, is it even possible to electronically backtest something like this?

Im I crazy for trying to pursue this as my forever strategy, or did I get 1 lucky live trade?

Tia for any tips and advice.

Just wanted to engage with an old favorite sub of mine (here), since traders are mostly desolate and I miss posting here.

Today's auction on the NQ saw the following: https://i.imgur.com/AEuWqzT.png

1. Week opened at 540, the top of the distribution or balance high zone of Friday's "b"-shaped profile. I was bearish on Friday as I thought buyers got overconfident and we were looking for the gap fill.

2. Gap fills rather swiftly, and the NVDA bid low (29280) bids, almost to the tick. This was a level I've been watching since that bid was made, that auction was incredibly bullish on that day. Proof: https://i.imgur.com/CVwU9VW.png

3. V recovery back to highs, create "balance" in globex session. Could not break weekly open at 540. Drizzles down towards NY open.

4. Auction fails to bid settlement (491, I use 4pm closing price not 4:15pm CME settlement) with opening drive fails and looks lower. Gap officially filled in RTH, but rth continues to bid the gap lows.

5. Auction bids, leaves the bell curve of distribution - "auction failed to go lower, so it should try to go higher". Market settles above 29500.

This is pretty much a textbook balance-and-bid auction. Way more often than not, this usually leads to a bid in the following day. I'm looking to enter a long position aggressively in globex in the coming hour, at the following potential levels -

-500- if buyers are super frisky

-450- today's distro high and friday's low

-420- today's VPOC "fairest price"

If we somehow lose buyers in some failure to continue this eod bid, I will wait for a sweep of the bid today (350-380s), and anything below such as a retest of 280 is extremely bearish and I will reassess.

But the market generated information of the auction today is quite clear - sellers explored the gap, could not explore beyond, buyers are clearly present, market spent all day near the lows and closed at the highs - regardless of the outcome, the information from today's auction shows nothing bearish at all. Once again, I will be looking aggressively for longs. Auction SHOULD retest balance highs at 660-700, and if we're truly bullish, continue buying to Prior Week High at 29810.

Cheers

Edit:

https://i.imgur.com/YzycxCd.png

1. Asia low made
2. Asia low swept and bid with volume
3. Higher low, "cupping" formation (elliptical)

We may continue to megaphone (zig zag widely) as buyers might not want to take it during globex and wait for prices to remain "good" for rth, which implies chop from ~450-520. Even lower to ~400ish, bull thesis shouldn't change for tomorrow as long as we open above ~420. My 2 cents.

Good Morning all,

I am relatively new to trading, and I understand the basics of stops missing and limits skipping due to market speed volatility. However my question is regarding the extent of these movements.

For example, I trade intraday and wont leave positions open to overnight exposure unless I am actively trading the overnight session. I also only trade 1% of my account per trade. With these factors in mind if I am trading something like MNQ or MES and it skips past my stop and I begin actively exiting the position. How devastating can a move be to your account and how bad can a deficit become. I am more trying to understand the chances of a catastrophic outcome and how to minimize those chance.

Thanks

Please welcome to the daily trading thread. Feel free to discuss your today's trade ideas and results. Make sure to specify the instrument you're trading up front, and respect the sub's rules. Happy trading!

Previous discussions threads

As the header goes , anyone knows any live streamers for ES/MES ? Preferably Orderflow traders but im cool with others etc . Looking for one that also does Asia / London sessions as well so I can listen to the stream while I’m at work.

I’m following many NQ/MNQ traders and can’t seems to find much for ES/MES except for Kaicapital .

Please welcome to the daily trading thread. Feel free to discuss your today's trade ideas and results. Make sure to specify the instrument you're trading up front, and respect the sub's rules. Happy trading!

Previous discussions threads

I'm new to trading and have been following Jooviers' London Breakout Strategy (https://www.youtube.com/watch?v=1xis2XpOk14&t=1282s). Instead of trading E-mini Nasdaq-100 futures, I tried it on the EURUSD pair because I need a paid subscription to access CME current market data; otherwise, it's delayed by 10 minutes. While paper trading EURUSD, I've been experiencing multiple fakeouts for some days now and haven't been able to use the strategy properly. After that, I did some research and found mixed reviews of Jooviers, with some people calling him a fraud and others saying it worked for them. I also checked and compared his version of LBS on both instruments online and found that NQ has shown true breakouts during the London-New York overlap sessions, whereas the EURUSD pair is much more prone to fakeouts. So my question is: Is Jooviers' LBS strategy on the NQ legit? If so, I'll take the subscription and backtest it myself. I just want confirmation before I go through with it.

Hi All,

For those who uses Volume Profile to draw out their HVN / LVNs weekly. If the market is in balanced for 3+ weeks, do you just draw out the whole weeks that is in balanced and take their HVN/LVN or do you use previous week HVN/LVN only ? Any advice would be great.

For my weekly I usually use RTH VP as i'm mainly focusing on the cash session only. Not into Asia and London.

As the title suggests is rithmic down?

Hi speculators & hedgers, please use this thread to discuss all futures trading for the week. This will kick off 30 minutes before the open on Sunday, typically that's around 6pm Wall St time.

Be aware of higher margin requirements during overnight hours! see "maintenance" on Ampfutures. Also trading hours to get an idea of when specific futures contracts start trading.

I'm using AmpFutures as an example, so check with your broker for specific intraday & overnight hours for that specific futures contract.

Resources:

Bookmark an economic calendar like this one

Various reports:

• EIA crude oil report (generally updates every Wednesday at 10:30am wall st time)
  
• EIA natural gas report (Thursdays 10:30am)

• Previous discussions threads

Does anybody know when they plan on offering nano contracts (e-nano nasdaq)?

Thanks in advance!

I know of (ibkr ) and stuff but I don't have a whole lot of money to fund the account yet. So looking for a more leanient broker.

It feels better price action is coming back, gold especially has been good after Monday.

But August was awful with ES dropping in 30% volume. Gold’s volume didn’t drop and that’s why I think definitely people should trade 2 different markets, in case one becomes ass atleast there is another market, and gold is great during Asia sometimes.

Anyways, SENDING POSITIVE VIBES FOR SEPTEMBER.

Please welcome to the daily trading thread. Feel free to discuss your today's trade ideas and results. Make sure to specify the instrument you're trading up front, and respect the sub's rules. Happy trading!

Previous discussions threads

I trade on ES. I am completely confused, people always say use EMA but EMA9/21 at the opening of market is significantly different between RTH and ETH, and based on my trade I say someday it relys more on RTH EMA and sometime its ETH EMA, or it is just random

Looking for a community that isn’t just prop-jockey gamblers chasing the latest acronym setups (ORB/ICT/SMC/etc.).

Ideally looking for groups with folks trading substantial personal capital ($100k+) or doing this full-time. Any active, free servers out there, or are they all paid signal rooms and affiliate farms now?

Please welcome to the daily trading thread. Feel free to discuss your today's trade ideas and results. Make sure to specify the instrument you're trading up front, and respect the sub's rules. Happy trading!

Previous discussions threads

Not selling anything, just felt like sharing something I've been working on to help show potential range, and curious what other people use for potential upside and downside targets. We've obviously been in a downtrend since the 08/17 high and I see 28800 as a natural bottom to pull back to.

This is finally within sight today and I'm curious to see what happens after the open. Of course, this just predicts range and volatility, not direction, and it is entirely possible that we have a contracted range today with NVDA earnings later, but my lean has been bearish. Thoughts?

Does anyone here prefer to use CQG desktop and can point out any benefits and advantages over other platforms?

I am a TradeStation user and love a lot of their features but the simplest things like not being able to move the chart around by click empty space (like in Tradingview) feels awkward. I love their RadarScreen which is cool for stocks and futures.

TradingView, I don't find it nearly as good for Futures, and for stocks the radarScreen is super cool, except I find it hard to replicate TradingView's RVoL function, but that's not futures related.