Well, That Was Fast

Session Lab on amtjoy.com for Thursday’s session - nightly builds and updates should be up soon.

As I write this, we are just around 23070, just 70 points from my 23000 target, all still simulator of course. After 23000 is hit, I don’t really have any ideas. On Monday (feels like a month ago), I wrote:

Broadly for NQ futures, I have only one thing on my watch: I really, really, don’t like the look of the two naked VPOCs way down at 23225 and 22990.

I didn’t expect both to be hit in just two days of trading (23000 not officially hit but something tells me it will be hit very soon). In a way, it feels right - the market was relentless this week, just grinding up through a fury of economic prints and reports, it just didn’t care. Finally, yesterday, everything came off. Opening range shorts would have payed 400 points+ in RTH, and almost another 400 points in overnight. I’m not sure if it was the typical end-of-month profit booking, fear of the coming “worst month of the year” (August), or something else. We’ll have to see how next week plays out to see if this is going to be a buy-on-dip opportunity or the start of a larger move.

At my current day job, the companies are merging, and we’re going to lose small perks like free coffee and chocolate (yes, chocolate - it’s Switzerland, okay?)

I’m going to attempt to become the company coffee / chocolate supplier with a simple challenge.

The current plan:

1. $1000 account start

2. MNQ only

3. Max 2 contract size (should be doing 1, but I want to work on managing runners / trailing stops, and so on)

4. Daily / Weekly / Monthly profit targets set to $250, or 125 MNQ points (62.5 with two 😉)

As always, I have to constantly remind myself that a month is a LONG time, and 125 Nasdaq points is DEFINITELY achievable within that time frame! To be honest, I’m looking most forward to hitting the $250 lockout - I’m extremely confident I can do it, and can continue working on other things in the AMTJOY universe in the meantime.

Hitting it will mean a fresh restart, and new perspective to my trading. It’s not much money at all in the futures trading world, but hitting this small goal is what I desire more than anything right now.

I just have to prove to myself that I can do it.

EDIT: With the way the market is looking at open, at least in NQ, may need to do some “how to short” properly posts as well.