dreezyreeve's /MNQ Trade 0.00

Trade Detail

dreezyreeve's /MNQ Trade 0.00

Trade Details

Published

Oct. 17, 2024, 8:19 p.m.


Status
CLOSED

Portfolio(s)

TopStep Express Funded 50K Account,


Broker

Tradovate

Asset

Future

Future Date

Oct. 17, 2024

Future name

/MNQV24

Symbol

/MNQ - View rating


Type

Long

Pattern(s)

15M Variation, Breakout Long, Overnight Trade, Prior Day PML SSL Long,

Featured Image / Proof

Stats

Entry CPU Exit CPU Fees Max Amount Max Cost P&L % P&L $ P&L With Fees
0.0 0.0 0.0 0.0 0.0 0.00% 0.00 0.00

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Notes

This was my biggest trading day in terms of P/L since I began this express funded account, and this has been a very difficult month for me, so I think its very important to jot down exactly what I believe led to my success.

For one, I have been really trying to simplify my trading process, and I am testing a new range theory instead of the orderblock VWAP theory, and thats literally just simple support and resistance, on the premarket low and high, and 9:30 session low and high day to day.

Its basically the same thing as BSL and SSL across all of the timeframes from lower time to higher time charting when I do my technical analysis, but I may just label it support and resistance instead to simplify it. And from the level presented during the overnight session, it was actually the reverse of the trade I wanted to take, which was a breach of the prior day resistance for a 1 minute bearish supply zone, but I had noticed that the futures opened and started selling off, so with the simplicity in the BSL and SSL lines I had created, the nearest one was the SSL from the PML of the day prior, or in otherwords a 'Support'.

The reason I thought of this, is because Im trying to find a way to replicate a VWAP without the actual indicator on the chart, and alot of times, during the premarket session, I would notice a correlation of the upperband and lowerband pretty much aligning with the PMH and PML. So I figured, that a DAY VWAP would likely be simplified to the daily high and low for that trading session, and that I can track it for each trading timezone. Because afterall, if there is a daily high or a daily low on a trading session, thats quite literally the pure definition of the support and resistance levels that were created for that session, and I believe this also applies to each timezone. And multi day candles, or even weekly and monthly candles. 

Today, while I was in the trade, not only did the support area work to the T, that is after being stop ran on a 1 minute chart, and entering on a 15m variation, but It also provided an entry with the support turned resistance for the PML that broke earlier in the week during the most recent sell off, that level provided a perfect exit for the trade, and also a great entry for the downside.

Not only that, but the BSL that was broke during the overnight session, acted as todays 'Resistance turned Support'. And the prior day 9:30 session high, was basically todays session low almost to the tick. So on my first day trying this simple system, it appeared very affective, and helped me with my biggest win. 

So therefor, for now, I am going to continue with this simple system to see if I can implement it for good.

I feel so close to just coming to terms with my set trading strategy forever and never changing it.

I would think that this current strategy is basically my longest running strategy yet. And I just want something thats indestructable in all market cycles. 

The variation entry is working well at the moment, but I have also noticed limit order fills have been hitting this month. 

And I have to figure out how to correlate entry setups with specific market cycles. 

But it seems for now I will just play it by my experience. 

But variations, displacements, and 1min untapped liquidity limit orders seem to be the best trade entries for me at the moment. 

Transactions

Date Side Amount Price Commission Reg Fee

UNH 298.70

Portfolio(s): IRA,
Last entry Jan. 2, 2024, 7:45 a.m.

BILI -3.56

Portfolio(s): Toby,
Last entry Jan. 24, 2023, 10:09 a.m.

BILI 12.05

Portfolio(s): Toby,
Last entry Feb. 22, 2023, 10:56 a.m.



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