So after many months I decided I will start my journal. I am in the TopStepTrader Combine and unfortunately, due to ill discipline I busted out twice. I took a break for about 6 weeks to clear my head and started trading again about 2 weeks ago.
I trade the NQ exclusively. I use Sierra Chart and JigSaw Daytradr as platforms with Rithmic as my preferred datafeed.
My approach is not very complicated.
I look at key support and resistance levels on higher time frames. I also use yesterdays H / L & C as potential significant levels.
I have a 89, 377, 1597, 6765 and 28657 tick charts. I only trade of the 89, 377 and 1597. I have cumulative delta embedded on my price action chart and use a 10MA of the bid/ask difference as a secondary indicator. I mainly use the MA to determine oversold and overbought levels (I see this when they reach the standard deviation extreme of the mentioned MA).
I'm trying to master the DOM though. The charts help me to see context on historical levels but the DOM shows me what's going on now. That's where the Daytradr platform comes in.
I trade small. Only 1 lot sizes but I am willing to scale in if a position has moved with 5 points in my favor. If it seems like more volume is hitting the bid or offer (depending whether I am long or short) when my mental target is hit, I will consider another 1 lot to potentially maximize profits.
My stop is a max of 5 points out but I will tighten it if technicals allow it. Never more than a 5 point stop!
When in a position I would like to see momentum. If I don't see immediate action in my favor I will seriously consider a scratch or small loss.
Max loss for the day = $400
When I hit $1,000 profit on any given day, I will switch off
I'm based in South Africa, so I work a salaried job from 05:30 to 14:00. Then it's a 1 hour drive back home. When I get home I get my setup ready for the 15:30 open (09:30 EST). I only trade the 1st 2.5 hours after the open. After that it is family time.
I find trading to be hard work, but if the dream of having my own time (which I can spend more with my family) can materialize, it will be all worth it.
From Monday I will start to post my trades. Herewith a screenshot of my main screen.