Started my first paid TST combine today (did the freebie and did decently but broke the one rule about trading thru 4pm EST). I trade fib confluence, market structure and enter based on Order Flow. I use NT7 for analysis and trading, Devdas Volume Ladder and Jigsaw dome, and TOS (only for Pivot Points and a unique fib method there). Been trading on and off for 10 years, sim and live, stocks/options and then addicted to futures, never lost big and never gained big. When I was live, full-time, I had no income coming in and the mind-game killed me...i.e. every loss was devastating to my reserves. Sold house, started a restaurant, and 3 years later enjoying success so far (#1 of 80 in my City in less than 14 months, and profitable thank God!). Just setup my 8 screens at work and getting underway with the setup I believe in. My biggest problem is trading so conservatively...I have to get safe quickly so that I am comfortable...then often I take profits on remaining contract(s) too soon. I trade a 10 tick stop, and usually kill a trade within 4 to 6 ticks going against me, based on what I see in the dome. If I have a significant backstop, I may widen my stop up to 15 ticks, but won't go there unless I have the profits/reserves built up. Once I build up some reserves/profits, I believe I can stay in longer to take advantage of runners. I am scheduled for TST expert to counsel me and look forward to his feedback later this month. Right now I only trade CL, always was fascinated by it, and when I master it I will branch out to TF, NQ, Forex, etc. For this combine I will trade what I'm used to...starting with 2 contracts and graduating to 3.
Today I took two trades. The first was a small loss after exiting based on dome action. Dumb entry, without doing my full homework (a more frequent fault I must and will conquer!). Then, after completing my analysis, my 2nd trade was profitable, yet I took profits too early. Net for day was $120 per NT, no commissions. The rest of the day, CL was not moving to well, so I did Sim trades for practice.
I look forward to seeing how this journaling will help me, as I do believe it will...you know, like the book says, document 100 trades...practice 15 mins a day (which is what I will do by noting my key areas and observing Order Flow at those areas).