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🔴 Live NQ Futures Trading | Order Flow & Prop Firms — Transcript

by Christopher Creamer | Orderflow Trader · 3,757 words · 713 segments · language en · Watch on YouTube

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1:07Yo, what up? What up?
1:12It's a new week. We're going to try and
1:14uh
1:15do better this week than we did last
1:16week. Last week was a little rough.
1:37We did have a pretty large move
1:38overnight.
1:42A big rig, I don't know if you drew this
1:44one out, but I had this one here for a
1:45while.
1:48We actually gapped into it
1:51and we started popping up.
1:55Wasn't that large of a gap, though.
2:01It's like 50 points.
2:16But now we're coming back up into this
2:18uh
2:20We're just going to stay in this range,
2:21basically. We do have FOMC this week,
2:24which
2:28probably
2:30I [clears throat] mean, I don't
2:32pretty sure everyone thinks that they're
2:33not going to change rates, so
2:37unless something crazy happens,
2:40we should probably remain the same.
3:10But we're going to What I'm looking for
3:13is
3:16we might open up like literally at 600
3:20on QQQ.
3:24So,
3:25it's a pretty important level for QQQ,
3:27so
3:30I'm basically going to
3:32I'm going to be careful that we
3:33potentially like whiplash a little bit
3:36off the open.
3:40But I do expect probably
3:44some of this to be
3:47like some of it for the for the open to
3:48come down a little bit.
3:53It may just open up and run, but
3:56usually when the overnight session makes
3:57like a larger move,
4:00I like to see New York dig back into it
4:01a little bit, so we're going to be
4:03watching for that.
4:38949
4:43Mhm.
4:45And 215.
4:54I like it.
4:56We'll see what it does.
5:41But yeah, we're going to see if we um
5:44and if we do come back down.
5:47>> [clears throat]
5:49>> I'd basically be wanting to see New York
5:51push back towards
5:53essentially like the middle of London or
5:54the top of
5:56Asia session.
6:09Although I think my
6:13Dude, I think these are off.
6:15Honestly.
6:24I'll figure it out later.
6:36380
6:42Yeah, that's good. I mean, if you
6:44set up a plan for
6:47New York open and
6:50the idea is you want to try and trade
6:51it, right?
7:01I do think that if we
7:03like let's say we open up and then we
7:05kind of
7:08maybe do a little bit of this for a
7:09second. If we break out to the upside,
7:12I think we're going to target Friday
7:14highs
7:17and potentially higher than that.
7:46>> My strategy for a breakout?
7:49Well,
7:52if we're
7:55I mean, a a break a break out or a break
7:57down or, you know, it doesn't matter
7:59which way we're going to break out. If
8:01I'm looking for
8:04I need to see strong initiative pressure
8:06on order flow to then
8:08basically confirm that there's
8:10participation outside of like a
8:13a range, let's say, or like a chop.
8:16And then I have some continuation entry
8:18models that I'll use to try and follow
8:19that pressure.
8:34But,
8:35sometimes I'll
8:37I'll be careful about trying to trade
8:39breakouts or breakdowns depending on
8:42depending on the environment that we're
8:44in because
8:46you can just get wrecked.
8:54So, there needs to be like solid
8:56confirmation. And then it also has to go
8:58with um
9:00has to align with like whatever I
9:01thought the higher time frame or like
9:04the direction for the day was going to
9:05do.
9:35Yeah, I mean, like if you're going to
9:36try and try to break out but we're in a
9:39balanced rotation just like ranging.
9:43I mean you can get absolutely smoked
9:45trying to trade a breakout, you know?
10:21Yeah, it's not a bad idea to if you're
10:23going to trade a breakout
10:25and we're ranging to
10:27start with lower size.
10:32And you can always add into winners.
10:36As long as you manage it correctly.
10:40So that you're not putting yourself in a
10:41position where
10:43your average entry becomes like
10:46kind of shitty.
11:20But I wonder if this week is going to be
11:21similar to last week in the sense of we
11:24make these large moves during the
11:26overnight session and then New York kind
11:28of
11:30at least during the AM session, kind of
11:32messes around.
12:46Do we have any news today?
12:55Mhm.
12:56No.
13:02Wednesday, we have
13:07PPI
13:11and FOMC.
13:16I'm not really so interested in like
13:17what the rate decision's going to be
13:19because I'm pretty sure it's not going
13:20to change. I'm more interested to hear
13:23um
13:25what Powell's going to say.
13:27We're approaching the end of uh
13:29his time here being the uh
13:32the spokesperson.
13:35The guy that um
13:38I think I think he
13:40he's still on the board, but I think he
13:41stops doing those speeches and talking
13:44in front of the the press and stuff by
13:47May.
13:50Those FOMCs, by the way, after that
13:53you got to be kind of careful because
13:58I think the market is used to how like
14:01Powell says stuff.
14:03So, if there's a new guy
14:09Dude, what if he messes up and he says
14:10something crazy?
14:20It should be interesting, though.
14:29I forgot what the other guy's name is,
14:31though.
14:33For the uh the person who's going to
14:34take over
14:38the Fed speeches.
14:53>> [snorts]
15:08>> Yeah, what up, bro?
15:33>> Yeah, so we're about to open
15:36literally at 600
15:38>> [clears throat]
15:38>> on QQQ.
15:46So, I'm going to be uh a little careful
15:49at the open. And I think um
15:52because QQQ is such an like the 600
15:54level so important for it, so like
15:58I basically don't want to see us
16:05chop.
16:32But, we're copy trading uh
16:35five funded accounts today, so we're
16:37going to try and not um
16:40try and not
16:41destroy them.
16:45Actually, speaking about that.
17:34>> So, we're going to see if New York is
17:35going to come down and re-
17:38retrace some of this move up from the
17:39overnight
17:41and pre-market.
17:45I just want to make sure it's actually
17:46going to go it and it's not just going
17:49to like snap back and forth.
18:46>> [snorts]
19:13>> Uh
19:15not yet. I don't think they rolled over
19:17yet.
19:19At least they didn't roll over for
19:22TradingView and um
19:28Topstep.
19:31Usually Usually I think when people when
19:33the contracts roll over, it's sometime
19:34during the middle of the week
19:37when the volume moves over from the
19:40previous contract to the new one.
19:47Is that supposed to happen this week, by
19:49the way?
19:54Mhm.
19:55Yeah, then we then we just uh okay. So,
19:58by Friday, so then probably by
20:01midweek
20:02we'll probably see the contracts change
20:04on like
20:06I mean, it depends what you're using.
20:07Some of them you have to do it manually,
20:08but
20:12Project X will just do it.
20:16We'll just do it for me.
20:23But, we'll we'll pay attention to the
20:24volume.
20:28The open interest on them.
20:40Yeah, right.
20:46There's not a lot of volume in this
20:47opening candle.
20:55On MNQ, we're only at 22,000 contracts.
21:16>> Dude, but honestly, if we're going to
21:17have another week where we're just like
21:19making these massive moves overnight,
21:24I may just throw a couple of micros down
21:26and try and swing
21:28like some overnight positions
21:31just throughout Asia and London heading
21:33into New York.
21:37Cuz last week, dude, the New York opens
21:39were kind of whack.
21:41And then right now, the first 5-minute
21:43candle is literally at half of the
21:45volume that it usually is.
22:18What up, Jay Showy?
22:22I hope that's how you pronounce that.
22:30What up, Joseph?
22:33I'm just waiting right now. I'm seeing
22:34if um
22:36we're truly going to break higher and go
22:38start targeting Friday's highs or if
22:39we're just going to
22:44mess around. The volume's kind of low,
22:46so it makes me
22:48not as likely to try and
22:50get into something.
24:09>> My bias for today
24:12Well, I'm actually expecting us kind of
24:13to consolidate right here, but
24:16>> [clears throat]
24:22>> I'm watching
24:27Like dude, look at this. There's 8,000
24:29contracts traded in the second 5-minute
24:31candle so far, and we're like halfway
24:32through it.
24:34I'm watching to see if we're actually
24:35going to
24:36continue higher to take uh
24:38Friday's highs, but
24:40before that happened, I kind of wanted
24:42to see us dig deeper
24:45into this move that happened.
24:49So, right now I'm kind of just
24:52anticipating us to potentially
24:55consolidate here, unless we start seeing
24:57some real aggressive pressure just
25:00and some volume
25:01start picking up and like pushing it
25:04higher. Otherwise, like
25:06we may just create like a opening range
25:08where
25:10we're just kind of snapping back and
25:11forth.
25:13So, I'm just kind of waiting.
26:05This is like
26:07I wonder why the volume's so low right
26:08now.
26:10This is like the volume that we get on
26:12those like holiday
26:13half days
26:16at the open.
27:40>> What up, Panama?
27:56You missed me.
28:00I haven't gone anywhere. I've been here.
28:19I'm going to test out some shorts right
28:21here.
28:21>> Order filled.
28:23With a stop at the high.
28:28But I'm only going to go three micros
28:29cuz
28:33just in case it goes all the way back
28:35up.
28:41I want to see if it can start digging
28:42deeper towards
28:44um
28:47the pre-market move we made.
28:51Let me make sure that this is working.
28:55All right, we should be chill.
29:13As we get closer to the opening price
29:15though, I got to be careful because we
29:17might just like snap back up.
30:33I forgot what the guy's name is that uh
30:36is going to replace Powell.
30:38Panama.
30:47>> [clears throat]
31:00>> Yo, if we're going to continue to like
31:03if the open's going to continue to um
31:06kind of have this like low volume
31:11open
31:13I might just like not trade today or
31:14this might be the only trade that I take
31:16today.
31:20Cuz
31:22we're not even over 20,000 contracts.
31:26Which is really weird.
31:29I don't know why that is.
31:46Like if
31:47like this candle's going to close right
31:48now with like 13,000 contracts traded on
31:50it. It's 5-minute.
31:58Yeah, at the open, I mean, usually like
32:01I'll see like 50,000 contracts
32:04on the first 5-minute candle and then
32:06we'll be like above 30,000 contracts.
32:13For like at least the first, I don't
32:15know.
32:19Yeah, that's probably why I roll over.
32:21Makes sense.
32:43>> All right, I'm going to get stopped out
32:44of this one.
32:46Order filled.
33:17Dude, I've been getting [ __ ] smoked
33:19recently.
34:20What's the next contract uh letter
34:24after H?
34:25Forget what it is.
34:40>> Um
34:42All right.
36:49>> The hedging thing I messed up with. Oh,
36:51on Lucid? Yeah, bro, they sent me an
36:53email.
36:56They took the profits away from that
36:58account [snorts] and then they um
37:03And then they like made it so I can't
37:05activate funded accounts like
37:09the same day.
37:10Dude, it was a mistake though. I didn't
37:12I didn't do it on purpose.
37:15But they said I can
37:17um
37:18get back into uh
37:21their
37:23normal stuff if I just
37:28have good behavior is what they said,
37:30which
37:31so that's going to happen cuz I don't
37:34hedge uh
37:36accounts like at least on the same firm
37:39because I know that that's a rule.
37:41And it's pretty obvious when you do it.
38:24>> Well,
38:25across firms, I mean, think I mean
38:30Yeah, you're fine.
38:32For the most part.
38:39Especially if you're using two different
38:40platforms.
39:52Probably going to see what the 4-hour
39:54does.
39:56And if we don't
39:57um
40:00pick up any type of volume,
40:03I'll just have to take the L. I think
40:06I'm on a losing streak right now on on
40:08the on the streams the past like week,
40:10which my bad.
40:12[ __ ] happens, though.
41:44>> Oh, yeah. I also kind of [ __ ] up this
41:46Express account on Friday.
41:51I wanted to test out
41:53um
41:55I wanted to test out their new Express
41:58account where it's like the three-day
42:00with the consistency rule.
42:04I kind of [ __ ] up. I made too much
42:06money on this account.
42:14So, now I need the balance to be like 5
42:16grand.
42:18>> [laughter]
42:18>> I need the balance to be like
42:20like probably a little over 4 grand
42:23to pull a payout.
42:26Yeah, I don't think I'm ever going to
42:27choose that plan ever again. That's kind
42:29of
42:30[ __ ]
44:47>> Well, while we wait for this to do
44:48something. Yo, did you guys see that
44:52cattle futures
44:54and cattle in general has outperformed
44:57the S&P 500?
44:59Isn't that [ __ ] crazy?
45:06Should have just bought a cow, bro.
45:10It's nuts.
45:35So, I'm going to see at the open of this
45:374-hour candle and the hourly candle if
45:39we're going to continue to push up
45:41towards Friday's highs or if we're going
45:42to just
45:49What I'm trying to avoid right now, too,
45:51is like a uh
45:52one of those like slow grinds up where
45:54we kind of
45:57do one of these.
46:54>> Yeah, this is pretty dog [ __ ] dude.
48:39>> Yeah, super low volume for the open.
48:46Less than half of what it usually is,
48:47actually.
49:23Mhm.
49:25Well, not a bad day to sit out. It's not
49:27really doing anything.
49:33I tried to take a short at the open
49:37over here.
49:39I got in like right here.
49:41Right here.
49:43It went down a little bit, but then it
49:44just came back up, so.
49:47Now, I'm just sitting here.
49:50I'm just waiting to see if we're going
49:52to
49:54continue doing this
49:56or
49:59if something is going to change. But if
50:01it stays like this, then I can't I can't
50:03trade this. Like this is just
50:11better to probably just wait for
50:12tomorrow.
50:16Or for Asia.
50:18I think I'm going to try I think I'm
50:20going to sit around for Asia today.
50:24And uh
50:30if it makes sense to try and take a
50:31trade
50:32and hold it.
52:01>> I got to fix that.
52:51No, I traded the open.
52:54So, when we came up, so I wanted to The
52:56reason why I took a short, by the way,
52:58is cuz
53:03I wanted to see us like if we were going
53:05to go higher, I wanted to see us dig
53:06deeper into like
53:09down here
53:11first. So, when we took this high and
53:13then POC was sitting up here,
53:16I tried to short it like right here
53:18with the stop above
53:19this candle.
53:21And then I just got stopped out.
53:23But, I only risked like 200 bucks.
53:25I'm just copy trading five accounts
53:27right now.
53:30So, usually I'll stop if I lose like
53:33600, five to 600 bucks.
53:37But,
53:38I'm probably I'm stop here.
53:42If
53:43I'm going to give this like
53:47another candle or two, but
53:52I think it's better if I just like save
53:54uh
53:57save my
54:00balance
54:01and use it tomorrow.
54:04And just kind of let today do whatever
54:07the [ __ ] it wants to do.
54:15Cuz even if I were to get into a
54:16position like
54:18with the way this is moving and it looks
54:20like we're slowly
54:22grinding up.
54:25I'm going to have to sit in it for like
54:26an hour or something just to get
54:31towards the target I want.
54:35It's probably just a better idea just to
54:36sit out.
54:50Yeah. Yeah, that's exactly what I'm
54:52saying. So later today
54:55I'm going to sit around for Asia.
54:59Bro, cuz here's the thing, right? Like
55:03before like the past couple weeks
55:05started happening
55:06you know, we usually have a smaller
55:08range for Asia, maybe same size or
55:10slightly bigger for London.
55:12And then New York will resolve in a
55:14direction.
55:16Now we're having like
55:18I mean, Friday was pretty chill. But now
55:21we're having like majority of the days,
55:24at least over the past 2 weeks
55:26we've been having these like pretty
55:27large moves over overnight. And they're
55:30directional, too. Like they're not just
55:31like
55:34ranges. They're
55:35they're moving.
55:37And then by the time that New York
55:38opens, it's just like doing [ __ ]
55:41And then it may move like later in the
55:43day, like lunch or
55:45uh PM session, right? But
55:47it I only trade the AM session.
55:50And so the AM session has been just kind
55:52of dog [ __ ]
55:53But
56:00can't can't necessarily blame it because
56:05at least for when I take a L.
56:07Cuz if I know it's doing that, I
56:08probably just shouldn't trade it.
56:10But I'm trying to anyways, which is like
56:12kind of [ __ ] me up.
56:16Like right now, like if I if I see that
56:19this is happening, right?
56:21And I'm in drawdown
56:23because I tried to take one trade right
56:25here.
56:27If I'm in drawdown and then I'm I lose
56:29more money trading this [ __ ] oh
56:31man.
56:35That can cause some tilt.
56:38And then it won't even it's not even
56:40moving enough to give me an opportunity
56:42to uh
56:46make it back, basically.
57:19On the 15-second.
57:37>> Yeah, if you ever if you ever see me
57:39trading on the 15 second
57:43somebody stop me, dude, cuz at that
57:45point I'm probably tilting.
57:53Uh well, right now I'm still on the H
57:56contract.
58:01If we go look at if you go look at like
58:03the CME numbers probably for open
58:05interest, there's
58:07I would assume or I'm going to take a
58:09guess that there's probably still more
58:11volume and open interest on the H
58:13contract than the M contract right now.
58:17And probably by tomorrow or Wednesday
58:20the volume and open interest is going to
58:23roll over.
58:25And then
58:26we'll be on the M contract.
58:32Well, actually, let's go look at it
58:33right now.
58:49So, this is like as of this morning. You
58:51guys can't really see this.
58:53Let me see if I could
58:59You see this?
59:06This number is going to increase after
59:08after today
59:10closes, you're going to see this number
59:11get larger.
59:14But, we need it to
59:18needs to be bigger than that.
59:22So, for now, still on the H contract.
59:28But, maybe by Wednesday
59:31that'll change, but we'll just have to
59:33wait and see.
59:34But since I'm using like Project X
59:36though,
59:41it'll just do it for me.
59:45And then I'm on the continuous contract
59:47for uh NQ, so I'm just waiting for it to
59:49do it on TradingView.
1:00:22Yeah.
1:00:23Yeah, I've been using that recently.
1:00:26Ahmed.
1:00:41Yeah, I think they're awesome.
1:00:48Yeah, I think it's a
1:00:50for trading order flow,
1:00:54they're a good thing to understand.
1:00:57So, I've been going down like this this
1:00:58rabbit hole for like a week,
1:01:01like half of a week or a week.
1:01:07And then I've been using this like uh
1:01:10this thing
1:01:15for like Gex levels.
1:01:19And then they have uh they have this.
1:01:30So, this is QQQ.
1:01:34With the
1:01:36gamma exposure information from that
1:01:38website, it's just printed into it. They
1:01:40They send it over to Pine Script.
1:02:19Um
1:02:20So, keep in mind, I'm not like an expert
1:02:22on
1:02:24on gamma.
1:02:25I'm still like
1:02:28learning it and using it.
1:02:30But, basically
1:02:32there's an There's usually an area on
1:02:34the gamma for and it depends what type
1:02:36of contract you're looking at, but if
1:02:37it's like a
1:02:42Sometimes, but
1:02:44I'm looking at like the the largest um
1:02:48Well, I'm looking at the distribution of
1:02:49it. So, like right now, we just kind of
1:02:51have like a lot of positive gamma.
1:02:54And uh
1:02:56we're in like a positive gamma area.
1:02:59And um
1:03:01I look at basically the call the call
1:03:04wall and the put wall, like the call
1:03:06resistance and put resistance and or put
1:03:08support, and then I look at gamma flip
1:03:10levels.
1:03:11And then
1:03:16I'm watching QQQ.
1:03:31But it's pretty useful. I mean on um
1:03:37on Friday when we started like chopping
1:03:39up or ranging
1:03:41like down here we on QQQ what this was
1:03:44we were basically just like bouncing in
1:03:46between strike prices so I was just
1:03:48scalping it on some evals but
1:03:55still learning it
1:03:57still taking time
1:03:59figuring it out.
1:04:04But if you're going to if you're
1:04:05interested in it I think it's I think
1:04:07it's a pretty good thing to look into
1:04:08especially if you
1:04:10trade order flow
1:04:12and just understanding like
1:04:17dealer hedging and [ __ ] like that.
1:04:44Um
1:04:47Yeah there's a video you there's a
1:04:48YouTube video I actually looked at that
1:04:50was pretty good and then a lot of these
1:04:52platforms that like have these levels
1:04:54they create YouTube videos on them too.
1:04:57And then I was just doing a bunch of
1:04:58googling and
1:05:03AI asking
1:05:08and trying to just wrap my head around
1:05:09it.
1:05:15>> So, in terms of like concentrated and
1:05:17then also there's this guy in our
1:05:19Discord
1:05:20Crown
1:05:22who put me on to it basically, so.
1:05:26Well, I knew they existed, but I was
1:05:27just ignore I was ignoring them for a
1:05:29while until
1:05:31until he was talking about it and then I
1:05:33was like, "You know what? I should
1:05:33probably
1:05:35should probably start stop lagging on
1:05:37it. It's been on like my list of things
1:05:39I need to
1:05:41look into for a while. I've just been
1:05:42kind of lazy.
1:06:03All right, honestly, like this
1:06:05um
1:06:12this price action, I'm going to just
1:06:14like
1:06:17not trade this.
1:06:19I'll take my $200 L.
1:06:22Call it a day.
1:06:24The losing streak on the stream it will
1:06:26will continue, I guess.
1:06:31But yeah, like
1:06:33today just ain't the day. We'll just
1:06:35have to wait for tomorrow.
1:06:40Um
1:06:41Yeah,
1:06:42that's probably what I'm going to end up
1:06:44uh doing right now. I might just end up
1:06:46like getting off stream and then full
1:06:48porting some emails, so.
1:06:55In terms of like serious trades though
1:06:59probably not going to take any more of
1:07:01those.
1:07:06Like I'm tempted to try and go short,
1:07:07but I just know with this type of like
1:07:13I just know that at the moment I go
1:07:14short, it's going to pop up again, and
1:07:16we're going to just we're going to be
1:07:18doing this
1:07:19I think there's a pretty good chance
1:07:22we literally just do that [ __ ] where we
1:07:24[ __ ]
1:07:28go like this.
1:07:32So, I think I probably shouldn't trade
1:07:34it. And then if you're if you're in the
1:07:36if it's go like let's just imagine that
1:07:38it does this
1:07:39and you keep trying to like
1:07:42just short it, oh brother, you're going
1:07:44to blow your account.
1:07:47You're going to you're going to take a
1:07:48fat L
1:07:49doing that.
1:07:52So, probably not going to do that. Or we
1:07:54are not going to do that.
1:08:08Plus I have a meeting in an hour, so I
1:08:09might as well just like stop trading
1:08:11right now.
1:08:12So, I will catch you guys
1:08:15later.
1:08:17Peace. We'll catch you guys tomorrow.
1:08:19Hopefully tomorrow's better.

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