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FIO Journal Challenge - February 2017 (over $1,100 in prizes)
Here is my ES Journal. I am currently still in school so my Journal is not extremely active but I post in it at least once a day. Thought I'd throw it in here for you guys to take a look!
Just joined the forum a couple of days ago and thought that I would finally write up a solid "starting" strategy and trading journal to keep track of my progress and to receive much needed feedback.
Pre-Open:
- NDX continued uptrend
- ES had strong uptrend overnight.
> expecting an up day
Trades (see chart):
1. LE 1 ES / price above fast VWAP (green)
2. LE 1 ES / OBV had nice up swing, feeling good about trend
3. close 2 ES / price …
Facts:
- small NinjaTrader Brokerage account,
- NT 8, Free Edition (argh, no ATM or Alerts; only Basic Order Entry)
- starting with NQ and ES; may add a currency
- will be adding CL, sooner the better
I'm a volume ladder Trader, using volume profile to understand context. I will start journaling with the intention to keep me on the right path.
The tools I will use will be a volume ladder chart (10 range) and a daily volume profile. I will …
Thank's in advance for your vote on the contest, hoping to be on the winner's list
both counts are bullish due to monthly market VPOC 2259.50. and since the correction seems hasn't complete, the best setup if there is divergence at 2262.25 area previous wave A for completion wave C of zig-zag correction.
Current Stats:
Cum Net Closed P&L = $2220 in first 4 days of $150K sim trading which started Feb 3.
Symbols traded = ES, NQ, YM
I debated whether or not to enter this journal contest for a $150K Combine since I was in the process of upscaling and refining the four downloadable ATM strategies that I've uploaded here for those who wish to test my strategies. These ATMs thus far have performed so well that I'm hoping they prove valuable enough to others to secure enough thanks to apply them to a real $150 TST Combine.
Rationale
The great advantage of a $150k Topstep Combine is that it's large enough to make a living without violating reasonable risk parameters and can survive an occasional outlier on a bad day without killing the Combine. Ironically I passed my first Combine ($50k) in 11 days then disqualified in Funded Trader Prep having early pulled down more than $900 on a FOMC meeting day from which I had not fully recovered by the 10th day so was disqualified by that now-suspended rule that the account must be profitable in 10 days. Subsequent efforts at 30k to 50k Combines have failed to recover from bad day drawdowns, forcing me to either forfeit the strategic advantage of trading multiple contracts or over-leverage with multiple contracts while trading dangerously close to disqualifying TST loss limits. A $150K account allows the advantage of reasonable risk using multi-contract strategies without so easily threatening $150 Combine loss limits.
Why did I name this journal "Profitpilgrim's Blend of CT Scalps & Trend Trailing?" ES especially is known for its scalp-worthy 2 point (7 or 8 tick) reversions, meaning it returns to fill pockets and backfill toward previous micro support or resistance levels it has breached. It is also a highly liquid market with many standing orders at each price level, giving it a smoother flow. The NQ ATM strategies differ from the ES versions because the ES, unlike NQ & YM doesn't have a thin book through which to plunge and trigger a stop when countertrend scalping S/R level.
In my journal I'll share more detail about how my published ATM strategies exploit entries and exits at support or resistance levels using multiple contracts to aggressively scalp the initial reversion, while using trailing stops on 1 or 2 remaining contracts to exploit any subsequent trend. If one scalps the reversions skillfully the overall trade is profitable enough that the remaining trailing contracts can afford to be stopped when a larger trend is not forthcoming. On trending days those wide stop trailers can survive the psychological ploys of bankster's bandit bots and profitably capture the day's trend, offsetting countertrend scalping losses on trending day's, which plague aggressive countertrend scalpers. When filtered with market breadth, orderflow, MFI, key market structure levels and intermarket corroboration, this blend of quick countertrend scalps combined with 1 or 2 wide-trailing contracts left to ride an intraday trend is designed to well-enough minimize losing CT trades to enjoy strong net profits. Sometimes several trend trailing contracts accumulate from more than one successful trading campaign. The choice of whether to deploy a Trend or CTrend strategy is regulated by the current direction of a 5 min chart. While all four strategies leave 1 or 2 trailers, the countertrend versions manage stops more conservatively.
Four separate ATM's (ES Trend, ES CTrend, NQ Trend, NQ CTrend) each with triple stop strategies associated with its name, have been uploaded for use with ES and NQ (YM can also be traded with the NQ strategies as they both have higher volatility than ES.) Follow my journal discussion on how to discretionarily preempt the strategies without being drawn into the hypnotic reality-distortion that occurs during normal price fluctuation, which induces a negative emotional load that builds up as price repeatedly pulls back against the direction of the trade.
Download the 4 attached ATM strategies below with 11 of their necessary 12 similarly named stop strategies (3 each). The last (NQ CTrend 3rd Stop) wouldn't fit here so you'll find it on my first journal posting HERE.
Prosper with discipline and calm cheer!
(Thanks for the Thanks)
Broker: Infinity Futures, SierraChart RT Data Feed
Trading: Mini-DAX, CL, 6E
Posts: 532 since Jun 2010
Thanks Given: 273
Thanks Received: 403
Journaling here on nexusfi.com has been extremely rewarding in terms of precision and continuity. Being in contact with a community relieves the loneliness of the trader - and journaling is big fun.
I have read a lot of praise for TopStepTrader - so: here I am for the FIO Journal Challenge - hopefully not too late for participating.
following BigMikeTrading/nexusfi.com for some time and getting a lot out of it anytime I want to thank everybody for being here and especially BigMike for inventing and maintaining the website.
I decided to share my …
and please find an overview - kind of a table of contents - of the thread here >.
A bit of my Trading history:
Started trading in '07, intially stocks and then futures. After a year or so of mediocrity, I was allowed entry into a private chat room of some other traders (not vendors), one being infamous on …
Didn't realize these contests existed
Started journaling public (always did so privately) after watching Big Mike's old-ish webinar about himself. Felt I went through similar experiences with the personal journey, and felt it's a good idea to keep myself a bit more accountable, as it's easy to cheat when things are private.
If any questions, feel free to ask me on my Journal.
