Hey everyone this is just a simple journal of trades I take in the morning on the ES using a sim account:
Basic trading plan look at key levels and see what other key levels match up:
1 key level validates me looking for other key areas
2 key levels validates 1 contract
3 key levels validates 2 contracts
4+ TBD
Goal: Emulate PB's trades
Some of you guys may recognize PB's chart template which you can get from his blog here:
Some background information if you guys are interested I've day traded stocks for the past 3 years and love it but have since grown tired of watching so many stocks and want to move full time to futures because I still want to trade the markets but don't want to be starting my morning trying to watch what 12+ stocks are doing and would much perfer watching 1-3 futures markets :).
My plan is to use market profile/tpo/footprint to define keylevels that I will then take trades off of based on these key levels if key levels are contradicting I will then see which one has more support and use that as my area of interest.
For example say we open below a Prev VAH that has support of half deviation of VWAP but price is also above DVAL and the 2nd deviation of VWAP plus prev HOD I will use the latter as my area of interest because it has more "support" as defined by me.