I have been in this amazing forum watching from the sideline for a while now. I have failed so far trading futures. I did very well trading options some time ago and decided to transition to futures long story why someone try to do this. I learned so much in the process but the major learning is about myself, and the journey continues.
A little about me: I am mid-age with a super-private persona. Trying to change my career for 5th time in my life. The way I see myself is as an engineer (even though most of my career has not been in engineering). This trading journey might lead to doing this full-time or maybe not (I have been working on this for a while). I will give this journal two months to see how it goes.
Now, about this journal and trading, I am starting this journal for three reasons:
Accountability follow the process publically and hold myself accountable.
Learning listen to the advice of those who know more and reflect on my own trading.
Vulnerability engaging with the world again in a different way as I continue my journey back from some life challenges
Here is my approach:
1. Emotions: Live in the present, be aware of my emotions and manage them; this will allow me to control risk and see opportunities.
2. Risk: Manage risk/reward so I can capitalize on my methodology/system.
3. Methodology: Stay with the methodology and dont keep changing. I watched price action for so many hours (thousands of hours) and the edge comes from watching price-action for so long. I tested so many ways and played with so many indicators, now it is time to stick with what I have. Think about Indicators as drugs, they dont change the price action but give an illusion of a better timing or easier process. Just stick with what you have, it is all about the price action so keep at it and the subconscious recognition with the setups will support the journey.
4. Process: follow the process every day
5. Learn: reflect and grow my personal and trading learnings.
What I will trade:
- Futures: I will mainly trade ES futures while keeping my eye on the other indexes (NQ, YM, RTY). I will do this through TopStep and see how it goes and if I can get funding (Not in the place to play with my money in the futures anymore).
- Options (secondary): will try to see if I can play the spy options as I have been watching this for 4 months now and made some money on them. Will try to see if I can combine my growing understanding of futures to play Spy options (Same day expiries and weeklies). This will be in my personal trading account. Also, will share some options trades on stocks if/when I will take them.
Your feedback is always welcome and help is needed. Looking forward to it