Starting a new journal, after the previous one (. Primarily as a log for myself, writing down my recent and new experiments with price action on the FESX (Euro Stoxx 50 Future).
Goal: I am trying to come up with a system that I feel confident enough to consistently trade in the near futute (2020). I am not writing anything down now, so that's a bad thing. This log will make up for that hopefully.
There's a few things that I need from my system
- Trading in the morning (9:00-12:00) in Europe (I live in The Netherlands), so it has to be a european product. FESX for now.
- Taking only 1 or 2 swing trades a day. Ideally exiting all positions before end of session. So looking at 30M (or higher). I's like to keep my day (real) job.
- Reacting on Price Action patterns. I've read a lot of articles, books and other journals here that use Price Action, and it seems to resonante most with me.
- Further invest the likeliness of a reversal at 10:00 (, 10:30 in the morning, and react on that.
- I'd like very strict rules, and as little discretion as possible, to be able to place trades fast and without doubt.
So without further ado, let's go. For now I'll just be making note of trades I take, with the reasoning behind them. Some will be sim, others will be real, depends.