Notes
- Recommended approach to trading for beginners or unsuccessful traders:
- Observe price action daily (without trading).
- Backtest setups to recognize patterns.
- Simulate trades without real money.
- Trade micros to build confidence.
- The most popular Micro E-mini futures:
- MES - Micro E-mini S&P 500 - Minimum tick = $1.25
- MNQ - Micro E-mini Nasdaq-100 - Minimum tick = $0.50
- MYM - Micro E-mini DOW - Minimum tick = $0.50
- M2K - Micro E-mini Russell 2000 - Minimum tick = $0.50
- MGC - Micro Gold - Minimum tick = $1.00
- SIL - Micro Silver - Minimum tick = $5.00
- MCL - Micro WTI Crude Oil - Minimum tick = $1.00
- Each time a stop hunt (Turtle Soup) occurs, this area changes to the Balanced Price Range.
- When the ORG is huge (a few hundred points), we should first wait for a stop hunt against the move we intend to trade in.
- US citizens cannot legally trade CFDs.
NQ Short Trade Example - Huge Opening Range Gap
NQ Short Trade Example - Trade Entry And Exit
NQ - Stop Hunt
NQ - Stop Hunt Area Turns Into Balanced Price Range
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