Monday, June 15, 2009

Down in Forex, Pars a plenty in NQ

Took a relatively small loss in the Forex markets today and four pars in the NQ. Over the weekend I did testing on longer timeframes in the NQ and ES and am now trading charts similar to a 5 minute timeframe. My goal is to try and filter out the noise and get the bigger, stronger moves that will pay me better. This should cut down on comissions significantly, choppy trades, and trying to trade for ticks rather than points.

More in depth explanations available in the video. Its short at 5:51 and recaps the trades of the day and talks about the timeframe change in more detail.

Trade Results:

Forex: -21 Pips
NQ: +0.00


E-Mini Player said...

I haven't viewed your video yet, but why not just use a 5-minute chart? 5-min is probably the most watched time-frame among day traders.

Matt said...

I could but its not nearly as smooth as the tick equivalents and I need smooth swings...

I'm not saying there aren't trades there - there are, but roughly maybe only 1 trade a week or so on that timeframe.