Nasdaq What Now Episode 19

Who’s In The Nasdaq And What Are They Doing?

Little drops of water make a mighty ocean

June, It’s June you all. Another month where we decide what the Nasdaq100 is going to do. We’ve had the bear market chilling with us for 6 months now. This is actually the 6th month—Woah! I think I lost track. Anyway, for me, it’s the first month. I started #Daily41 on the 1st of June and I want to monitor my progress every month for 6 months. This week in Nasdaq100, I ended it with 3 wins and 2 Losses. But when I started it in June 1st, it was already a Wednesday. Let me tell what happened, Lessons learnt and everything that has and will change in my trading. Furthermore, I will also be talking about my plans for this week.

Monday was the 30th of May, 2022.. before Monday, I added a rule to my trading which is, Trade just the London session. Reason because, The New-York hasn’t been the best market or session for my trading. In the New York, I always take Ls. Not funny.. So I said to myself, “Why not just let go of this session”. Most like the New York because of it’s opportunities but as for me, I just think that’s the best time for manipulations. So trading the NY is a No-No, for my trading. Later in the week, I also let go of range markets and mid-levels. Rage markets have imbalances and these imbalance defy market structures. My trading revolves around trading structures” so I don’t get favored when trading consolidations. Also the mid-levels are “deciding levels”.. If you find yourself in a mid-level, be sure to wait for the breakouts. Not just the breakout, the next candle and if possible, the next candle.

The “waiting game” is one to perfect in my trading. Most of trading requires “waiting”.. Now, back to Monday. My Monday’s plan was: to take a buy. Reason because the Nasdaq100 was still in an uptrend. At the point of taking the buy, I realized that the market was trying to form a new HH. Also, there was bearish divergence. With like a tweezer top candle and then, the bears started forming some structures. The signs were there but I guess the rules haven’t been added to my trading plan. Before I continue, I also added the rule of moving my SLs to Entries and the rule of not adding fundamentals since I don’t trade the NY anymore. I’m basically trying to create a trading system that will work for me in the long run. A trading system that would consider every market situation and a system that is simple. All you need to do is, “follow it’s rules”.. I lost that one on Monday simply because, I didn’t act on what was going on.

Tuesday the 31st of May, 2022. The nugget that resonated with me was, “There’s no strategy that’s right or wrong, however, there are strategy that are right and wrong for us”.. Meaning if your trading is not in line with who you are, you’ll have problems. So, that got me thinking.. For Tuesday, no trades were taken. Well, personally like I said, I did take 5 trades just not generally. And my #daily41 started on Wednesday. For Wednesday, I was signing “Happy New Month”, also I was tired of getting it wrong, I needed consistency with my trading. I took a win on Wednesday which gave me my first 41 points. For Thursday, The Nasdaq100, kept staying in the range, making me take Ls. Thursday lessons, were so much that, I think it created the rules I have today. I’ll be creating a group after 6 months for my system, passing the knowledge down to traders interested in seeing that consistency. So in November, The IBT (impulse based trading) will be created. By the way, I ended the week (Friday the 3rd of June, 2022) in Ws. A great way to end the week. Now, you’re probably wondering what’s to come.

Downtrend on the daily, Range on the 4-hour and 45 minutes Time-frames. The market is currently in between. For this week, I will just be waiting because there’s no way I’m trading that range. So, a proper break past 12500, will mean the bears are coming back in. However, the market has to properly break past 12941 for the bulls to troop in as well. Now all I’ll do is wait for the balance because currently there’s an imbalance. My strategy is – structures (impulse trading). What triggers this impulse is when there’s an interruption between resistance and support. A situation where resistance holds and at resistance, there’s a Lower-high and other factors (doble tops, bearish divergence..) in a downtrend then, I’ll be going in for a sell. Similarly, a situation where at support there’s a Higher-low (double bottom and bullish divergence) and it’s an uptrend, I’ll be going for buys. Keyword: “downtrend and uptrend”.. These factors are only considered if the rend is accurate or changing..

Yeah that’s how my week was. How was your week and what will you be doing this week?

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