dreezyreeve's /MNQ Trade -190.52

Trade Detail

dreezyreeve's /MNQ Trade -190.52

Trade Details

Published

Sept. 17, 2024, 9:37 p.m.


Status
CLOSED

Portfolio(s)

TopStep 50K Evaluation,


Broker

Tradovate

Asset

Future

Future Date

Sept. 17, 2024

Future name

/MNQU24

Symbol

/MNQ - View rating


Type

Long

Pattern(s)

9:30 Bearish Orderflow, H12 Bearish Orderblock (Short), H6 Bullish Orderblock Failure, LIS Reversal, Lowerband Failure, M5 Bullish to Bearish Variation, M5 Entry Short, Overnight Bullish Orderflow, Upperband to Lowerband Short, Wk Bullish Trend Shift,

Featured Image / Proof

Stats

Entry CPU Exit CPU Fees Max Amount Max Cost P&L % P&L $ P&L With Fees
19,641.75 19,610.666666666668 4.02 2.0 39,283.5 -0.16% -186.50 -190.52

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Notes

Key Takeaways from Today’s Trading Notes:

  1. Late Start & Streak Broken:

    • You woke up late and missed key setups, resulting in the break of your 6-day green streak during this evaluation. Starting late disrupted your usual flow and mindset.
  2. Market Bias Conflicts:

    • The market presented conflicting biases, making it difficult to align with a clear direction. You were waiting for an "easy money trade" off the VWAP bands, but market indecision caused confusion.
    • You observed a repetitive pattern of 9:30 short opportunities and end-of-day long opportunities with overnight moves higher. You are considering holding an overnight long trade, targeting a draw on liquidity around 19870 due to the weekly downtrend reversal and untapped liquidity on the weekly order block.
  3. Missed Setup from Yesterday:

    • Yesterday’s setup hit your profit target before the 9:30 open, and you noted that this should have indicated that the price would likely come down, but you initially missed this clue.
    • You felt frustration about missing out on a potential 4R+ trade due to not being able to hold overnight positions.
  4. Failed Easy Money Trade:

    • Your easy money trade and bullish line in the sand failed, suggesting a possible manipulation stop hunt.
    • You followed your rules by not executing a short trade because the 1-minute candle came just ticks away from the VWAP upper band, even though you accurately called the false break to the upside in the chatroom. This missed opportunity weighed heavily as the exact trade unfolded after you passed on it.
  5. Choppy Price Action:

    • You faced frustrating and choppy price action around the lower band, with constant invalidation of signals. Both the first and second trades were stopped out, with one possibly being a stop hunt.
    • The second trade reversed right after hitting your stop-loss, reinforcing the idea of manipulation and adding to the mental frustration.
  6. Contradictory Signals & Missed Alerts:

    • You struggled with contradictory signals, especially around the 1-minute demand level where price traded into the level but didn’t trigger your alert. This left you uncertain about the reliability of your signals.
    • You also identified an untapped demand area below the prior day’s low, leaving you concerned about whether price would sweep the longs out before potentially moving up.
  7. Caution Regarding Overnight Trading:

    • Despite frustrations, you’re wary of overnight trading scenarios, fearing a nightmare where you trade throughout the night only for the setup not to play out.

Key Learnings and Adjustments:

  • Stick to the Plan, but Be Open to Adjustments: The strict adherence to your VWAP level rules prevented you from taking what could have been a profitable short trade. While rules are important, consider incorporating flexibility for trades that come very close to key levels.

  • Focus on Higher Timeframes for Direction: The choppy and confusing price action on the 1-minute chart could be resolved by focusing on higher timeframe setups, reducing the noise and uncertainty around micro-level decisions.

  • Recognize Repeated Patterns: You’ve noticed a consistent market pattern (9:30 short followed by end-of-day longs), which is valuable for planning future trades. Keep this in mind for upcoming sessions.

  • Frustration from Missed Opportunities: Missing out on potential 4R trades due to the inability to hold overnight positions added frustration. This might indicate a need to consider alternative strategies to participate in overnight moves without breaking rules.

  • Manage Overnight Risk: Your concerns about taking overnight trades are valid, and it’s important to weigh the potential rewards against the risk of trading throughout the night with uncertain outcomes.

In summary, today's session highlighted the challenges of conflicting signals, the importance of flexibility within your system, and the need for greater clarity in your approach when the market is choppy. Keep refining your system to accommodate these nuances.

 

 

 

woke up late. And broke my 6 day green streak on this evaluation. 

The market was very conflicting between both biases on the day, so my approach for the trading session was that I was going to wait for an 'easy money trade' against the extremities on one of the first VWAP bands that were trades into. 

Also, my trade setup from yesterday, worked perfectly to my diesred profit target, which was hit before the 9:30 session opened, so because of this, of should have figured that price would come down instead of up. 

I also had a gut instinct that longs wouldnt work as well, because yesterday I didnt make much money on longs, because the trade was broken up between the prior eod of day session and the overnight trading session, and I cant hold trades overnight, so I had to only take profit at 1R multiple. Which is really annoying to me because I would have held the trade for a 4R + trade. 

But the market for the past 2 sessions is trading as a 9:30 short opportunity, with an end of day long opportunity, with a move higher in the overnight, so for this reason, Im thinking about taking an overnight long trade, to target the draw on liquidity higher which I believe is around 19870. And the only reason I think the market will go higher is because the weekly downtrend reversed in todays trading session, and there is still untapped liquidity on the weekly bearish orderblock to the upside, with buy side liquidity above it. 

My easy money trade failed, as well as my bullish line in the sand, 1 minute demand, which reversed. Which could have been a manipulation stop hunt. 

I also beloeve I would have caught the short on the trading session, but because the 1 minute candle literally came TICKS, away for the vwap upperband, I didnt execute on the trade, because my rules suggest that I have to wait for price to hit the level exactly and wait for a reaction or its invalidated, I literally called out in the chatroom for tanjas livestream that I was expected a false break to the upside, and that I was looking at a reaction at 19850n short. Well little do you know, that its the exact trade that took place on the session, and because I was ticks away from the upperband level. I never took the trade. And the only trade that was presented to me from that point was the lowerband extremity trade. 

And might I add, there was terrible price action around the lowerband. Constantly chopping above and below, signaling a trade, and then it becoming invalidated shortly after.

The first trade I took was a 1 minute variation close back above the lowerband, which also had displacement after a liquidity washout of the 6 hour bullish orderblock, and it failed. 

The second trade. I didnt put much weight on the Lowerband, because it was continuosuly giving false signals, and decided to just play the reaction off of the line in the sand. And it literally swept my stoploss, and then immediately went in my direction, without breaching that low for the duration of the trading session, this is what leads me to believe it could be a possible manipulation stophunt.

With that being said, I have a 1 minute demand level marked as my long level of interest, as well as, but it appears that price trades into the level, potentially sweeping the liquidity, YET, it never tiggered my alert. So I am getting so many contradicting signals its almost hard to dechipher anything. 

I have also Identified an untapped demand area beneath the prior days low, which is also scary to take longs still because Im unsure if it will trade into that level first and sweep all of the longs out of poisiton prior to potentially moving to the upside. 

The market it about to open, and Im just hoping this isnt a nightmare scenario where I am trading throughout the nighttime and overnight session for nothing. Hopefully it pays off.

Transactions

Date Side Amount Price Commission Reg Fee
Sept. 17, 2024 12:28:00 Entry 1.0 19,682.0 4.02 None
Sept. 17, 2024 12:47:00 Exit 1.0 19,640.0 None None
Sept. 17, 2024 12:51:00 Entry 1.0 19,621.5 None None
Sept. 17, 2024 12:51:00 Entry 1.0 19,621.75 None None
Sept. 17, 2024 13:45:00 Exit 2.0 19,596.0 None None

LASE 7.40

Portfolio(s): Active Trade,
Last entry Oct. 13, 2022, 9:42 a.m.

HOOD 2.87

Portfolio(s): #Invest52Challenge,
Last entry July 12, 2023, 7:06 a.m.

BILI 12.21

Portfolio(s): Toby,
Last entry Jan. 11, 2023, 3:40 p.m.



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