Should you have B-ADJ On or Off? - TradingView

Summary

The speaker discusses their experience with the B adjust setting on TradingView for the NQ contract, noting its difficulty in setting targets at all-time highs. They share their decision to keep B adjust on for theoretical targets and supply points, despite disagreement from others. The speaker reflects on their trading day, which started with a mistake against their original bullish plan but ended with a return to that plan, resulting in a breakeven day. They emphasize the importance of sticking to one's pre-market plan and learning from deviations.

Takeaways

• 📈 The speaker is discussing the Nadex (NQ) binary options trading and the use of B-adjust settings.
• 🔄 With B-adjust off, the speaker notes that the market is at all-time highs, making it challenging to set targets.
• 🎯 The speaker has turned B-adjust on to establish theoretical targets and supply zones for trading.
• 📉 The speaker acknowledges making a mistake on their first trade of the day, deviating from their original plan.
• 📈 The original pre-market plan was bullish, with a target draw on liquidity at 16942.
• 🔄 The speaker discusses the importance of sticking to the original trading plan and not deviating from it.
• 📊 The speaker identifies a missed opportunity to go long at the VWAP (Volume Weighted Average Price) level.
• 💡 The speaker emphasizes the importance of finding good entry points and pullbacks in line with the trading plan.
• 💸 The speaker mentions that they risked more than they usually would on one trade, which resulted in a stop out.
• 📌 The speaker concludes with a second trade that aligns with their original thesis, making back most of the loss from the first trade.
• 🔚 The speaker ends the day nearly breakeven, deciding not to overtrade after a bad start, and plans to learn from the experience.

Q & A

What is the main issue the speaker is discussing regarding the NQ contract?

The speaker is discussing the difficulty in setting targets for the NQ contract when trading at all-time highs, especially with the B adjust setting on or off.

What does the B adjust setting do in the context of the speaker's discussion?

The B adjust setting helps with the continuous contract and making adjustments between the continuous contracts.

Why did the speaker turn on the B adjust setting despite usually having it off?

The speaker turned on the B adjust setting to have some theoretical targets and supply points to use as references for trading, given the lack of historical data at all-time highs.

What was the original pre-market thesis of the speaker for the day?

The original pre-market thesis was to look for points of liquidity and supply zones as targets for long-term bullish trades.

What mistake did the speaker make on their first trade?

The speaker made a mistake by going short after the price broke below yesterday's high of day, which was against their original bullish thesis.

What was the original liquidity draw point the speaker identified?

The original liquidity draw point identified by the speaker was at 16942.

Why did the speaker feel they were not in the right trade after entering the short position?

The speaker felt they were not in the right trade because they saw a strong reaction off of the VWAP and felt that the NQ likes deep retracements, which contradicted their short position.

What was the speaker's second trade strategy after realizing the mistake in the first trade?

The speaker's second trade strategy was to go back to the original thesis and long bias, entering a long position after the price broke above the high of day and consolidated bullishly.

How did the speaker perform on the second trade?

The speaker's second trade was not bad, but not a great trade either. They managed to make back most of the original loss and ended the day almost breakeven.

What lesson did the speaker learn from the day's trading experience?

The speaker learned the importance of sticking to their original pre-market plan and not deviating from their analysis and thesis.

What was the speaker's approach to trading at the end of the day?

At the end of the day, the speaker decided to be done with trading to avoid overtrading, having already made back most of the losses from the initial bad trade.