• Trading Software
    • TradingView
    • NinjaTrader
    • MT4
    • Thinkorswim
    • TradeStation
    • MultiCharts
  • Online Classes
  • Trading Courses
  • Free Resources
    • Economic Calendar
    • Blog
    • Webinars
    • Newsletter
  • Sign Up
  • Sign In
Trade The FifthTrade The Fifth
  • Trading Software
    • TradingView
    • NinjaTrader
    • MT4
    • Thinkorswim
    • TradeStation
    • MultiCharts
  • Online Classes
  • Trading Courses
  • Free Resources
    • Economic Calendar
    • Blog
    • Webinars
    • Newsletter
  • Sign Up
  • Sign In

Trading Journals

Home » Day Trading Journal – 108 ticks on /NQ NASDAQ Emini Futures
imge of nasdaq emini futures day trading journal

Day Trading Journal – 108 ticks on /NQ NASDAQ Emini Futures

  • Posted by Paul Bratby
  • Categories Trading Journals
  • Date August 27, 2018
  • Comments 2 comments
0shares
  • Share
  • Tweet
  • LinkedIn
  • Reddit
  • WhatsApp

/NQ NASDAQ Emini Futures trading journal

This is a day trading journal for a Long on NASDAQ Emini Futures on the 23rd of August 2018 using our “Day Trading Add-On Suite for ThinkorSwim”.  This strategy utilizes the multiple time-frame W5T dot cloud with a bullish bias for technology futures given strong momentum of several large cap stocks such as Apple.  Apple has publicly stated that it will continue buying back its stock and given we are past the earnings date they are able to continue buybacks. Out multiple time-frame DOT Cloud continues to show a bullish bias on our anchor “daily” time-frame as shown by the bottom row of dots being green.  Green dots in that row indicates we are above the daily cloud. Entry and Target Strategy for this trade is discussed below this chart.

(Click on the chart image to enlarge in another window) 

image of /NQ Nasdaq Emini Futures trading chart

Entry and Target Strategy Nasdaq Emini Futures Day Trade

First, note that in the overnight session (the time between 6PM the prior day and the 9:30AM regular time hours open) that /NQ Nasdaq Emini Futures has tested a small support zone on the 5min chart multiple times and it held.  This gives us some level of confidence that it is a valid stop for this trade.  The Dot Cloud, far right of chart above, shows that entering the regular time session we have had a bit of a selloff as denoted by the 5min, 15min and 30 min rows going red (indicating price is below those clouds on those time-frames) and the hourly and two-hourly are cyan (indicating price is in those time period clouds but not broken below them).  We are anticipating this to be potential support for our long trade.

A conservative entry strategy is to setup a long entry just over the overnight session high at 7441.75 with a target at the first resistance pivot at 7468.75. The stop loss will be the support zone lows as prior mentioned.  This gives us a slightly over 1:1 reward to risk setup (As per chart above).  A more aggressive entry would be to go long above the cloud at about 7430.  Understand our Trade Management strategy for this Day Trade on /NQ Nasdaq Emini Futures below this chart.

(Click on the chart image to enlarge in another window) 

image of /NQ Nasdaq emini futures trading chart for trade exit

Trade Management Strategy

As can be seen on the chart above, our trade triggered into our standing order on the second candle after the RTH session very bullish open – that was our expectation.  The trade was also confirmed with a bullish arrow trigger on our Wave 5 Elliott Indicator Suite’s stochastic indicator.  Within approximately 20 minutes we have hit our target and taken our profits – 108 ticks on the conservative entry.  Note that some may have wanted to squeeze a bit more out of this trade, however, very shortly after our targeted entry the trade started to show signs of exhaustion as denoted by the negative MACD divergence.  If you failed to get out of the trade at the target the first time you really need to exit this trade at the doji that showed up on the 5min chart.

History Repeats Itself

The very next day, August 24, 2018, this same trade setup provided anywhere from 160 to 200 ticks depending on your trailing stop versus targeting strategy! As per the chart below.

image of /NG Nasdaq Emini Futures day trading chart 24 August 2018

For this trade we used our Main Elliott Wave Indicator Suite for the ThinkorSwim Platform. You can see the Video Tour >>>HERE<<<

AND Our W5T Day Trading Add-On Suite. Watch the Video Tour >>>HERE<<<

By combining the power of these suites we have developed a robust futures day trading strategy as can be seen from the above trading journal of a recent trade.

“Trade the 5th”

 

Tag:/NQ, Day Trading, E-Mini Futures, elliott wave, elliott wave indicator, Nasdaq, Swing Trading, thinkorswim, trading education, trading journals, W5T

  • Share:
author avatar
Paul Bratby

    Previous post

    GS - Stocks Signals Video for Potential Swing Trading Opportunity
    August 27, 2018

    Next post

    Stocks Trading Journal for Long 5th Wave Trade on GS
    August 28, 2018

    You may also like

    CERN taget hit boom
    CERN Stock Trading Journal
    11 February, 2020
    image of ETF header
    What Is an ETF?
    27 January, 2020
    imge of HALO stock chart with elliott wave
    HALO Stock Swing Trade Hit Our 5th Wave Target!
    26 January, 2020

      2 Comments

    1. Donald McKinney
      September 2, 2018
      Reply

      Having a problem placing an order

      • Paul Bratby
        September 3, 2018
        Reply

        Hi Donald, are you having problems ordering the Day Trading Add-On Suite? If so we can send a Paypal Invoice to your email address, which you can pay with credit/debit card or indeed via paypal. Please email me on paul@wave5trade.com and we can arrange this for you.

        Kind Regards

        Paul

    Leave A Reply Cancel reply

    Your email address will not be published. Required fields are marked *

    Categories

    • Blog
    • Daily Videos
    • Education
    • Trading Journals
    • TradingView
    • Uncategorized
    • Videos
    • Webinars

    Archives

    USA Office: 19 W 34th Street, Suite 1018,
    New York, NY 10001
    US Phone: +1 (415) 992-7787

    Ireland Office: Unit 3D, North Point House,
    North Point Business Park, New Mallow Road,
    Cork, T23AT2P, Ireland

    Copyright © 2020

    Learn More

    • Trade Ideas
    • Contact Us
    • About Us

    Legal

    • Privacy Policy
    • Terms of Service

    Latest Tweets

    Tweets by tradethefifth

    Swing trading, Day trading, short-term trading, options trading, and futures trading are extremely risky undertakings. They generally are not appropriate for someone with limited capital, little or no trading experience, and/or a low tolerance for risk. Never execute a trade unless you can afford to and are prepared to lose your entire investment. All trading operations involve serious risks, and you can lose your entire investment. No trades are recommendations or advice and we cannot be sued for losses of capital. All trades are for educational purposes only. Contact your broker or RIA for execution, margin, and other capital requirements. All users and viewers of wave5trade.com adhere to ALL terms of service on www.tradethefifth.com

    Hypothetical Performance Disclosure: Hypothetical performance results have many inherent limitations, some of which are described below. no representation is being made that any account will or is likely to achieve profits or losses similar to those shown; in fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk of actual trading. for example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all which can adversely affect trading results. Past performance is not necessarily indicative of future results.

    Testimonial Disclosure:  Testimonials appearing on this website may not be representative of other clients or customers and is not a guarantee of future performance or success.

    Trade The Fifth