A little daily journal to track my HSI trading.
Why: make myself accountable and proof of method.

Set-up:
Platform - SierraChart64 + CQG datafeed.
Chart Trader Activated.
Bracket orders auto-activated.

My Method:

Style:Pattern trader - discretionary - human neural-network only.

Indicators: 20 bar EMA only + candlesticks on a Tick chart.

Target - aim for 50 ticks per day with a 2 lot(AUD450/US330/day). A maximum of 8 trades per day - ideally<5.

Common sense trading rules: No set-up = no trade. No trade is better than a dumb trade. Don't chase the market. Don't monkey with your trades. Be patient.

Trading Error target <10% of all trades. Target is <5%. Error = not following the trading plan...it's not related to the trade P&L result.

Circuit Breaker - 3 losses in a row = STOP TRADING for that day - review the trades and restart tomorrow.

Trading Period - trade the open each day and then for 1 hour approx or less if hit target sooner....then walk away and get a life....occasionally might trade the afternoon session for 30 minutes if family commitments allow. Noon session is normally slower and harder to read from my limited experience.

Note: daily economic calendar event times and ensure flat position going into news announcement. (Investing.com)

Be cautious the first 2-3 minutes after cash market opens (15 mins after futs start) as market volatility is high and riskier unless a perfect set-up exists.

Why I trade the HSI? - highest volume index contract in Asia that I can trade via AMP, good timezone as no family disturbances, ASX SPI futs(+N225) don't move anywhere near as much and the start time clashes with family commitments.

Will aim to copy out my daily blotter (using 1 lot only) that I use and keep some basic running stats. Will look into the intraday charts with signals in due course if the hassle factor is minimal.

Fingers crossed this chart file uploads ok ?


10 trades (6 wins /1 loss/3 scratch)
80 tics (2 lot)
a few more breakevens(scratch) than normal...
1 error - on the first trade changing target level....stupid, should have been a 20tic profit instead of scratch

7 trades.....multiple missed entries (not sure if the feed is slow today?)

+64tics
7 trades...4 Wins, 2 scratch....1 loss(stupid again) - if u miss the entry wait for the next bus.

Godzilla 

Why I trade the HSI? - highest volume index contract in Asia that I can trade via AMP

Minor note that the MJNK (mini Nikkei) has at least 4x the volume of HSI, on average.

That being said, HSI certainly moves "better" and is more interesting to trade usually!

Please feel free to stop by and post on this thread started a few weeks back related to trading Asian session products:

Asian Session Traders (MJNK, N225M, HSI, HHI, MSI, MCH, KOSPI, SPI) Looking for all Asian session traders, I know there are a few around here from comments. Hoping to start a thread for general discussion and ideas on products primarily active during the Asian session. ------------------------------------------------ To …

My experience has been that when I accept my losses quickly, trading the HSI is profitable. When I let a trade go too far in the HSI, it can be disastrous, as it is a beast that can run 50-80 points in less than a minute, at times.

Welcome and the best to you trading the HSI! I look forward to stopping by and seeing your journal!

josh 

Minor note that the MJNK (mini Nikkei) has at least 4x the volume of HSI, on average. That being said, HSI certainly moves "better" and is more interesting to trade usually! Please feel free to stop by and post on this thread started a few weeks back related to trading Asian session products: Asian Session Traders (MJNK, N225M, HSI, HHI, MSI, MCH, KOSPI, SPI) Looking for all Asian session traders, I know there are a few around here from comments. Hoping to start a thread for general discussion and ideas on products primarily active during the Asian session. ------------------------------------------------ To … My experience has been that when I accept my losses quickly, trading the HSI is profitable. When I let a trade go too far in the HSI, it can be disastrous, as it is a beast that can run 50-80 points in less than a minute, at times. Welcome and the best to you trading the HSI! I look forward to stopping by and seeing your journal!

Noted: maybe a more accurate description is "HSI is the highest volatility Asian Index Future".....it's such a shame the NKY trades in a 5pt tick size otherwise it would be an incredible contract...

Learnt my lesson today....don't bother trading the day before Chinese NY - which means no trading until next Wednesday 29th. Market SO much slower than normal...should have realised this and taken the day off..

FLAT..0 ticks today....first flat day in ages.
3 trades 2 wins, 1 loss (also a trade error as stop was to close)...large range bar..
I see no point in wasting my time on the screen today..

Stats:

traded - 3 days (2 hit target 1 breakeven)

164 tics (1 tic USD = $6.66, AUD= $9.10 approx)

21 trades
3 loss (15%)
4 scratch(20%) - higher than normal - means market price hit target but moved back to entry price.
14 Winners(65%) - a bit lower than normal as more scratch trades this week.

2 Errors - both were losers.
1. Stop placement to close - follow the rules
2. chased a trade as market moved to fast to enter...follow the rules

Takeaway - probably should NOT have traded Friday as Chinese NY had started.

Godzilla 

Stats: traded - 3 days (2 hit target 1 breakeven) 164 tics (1 tic USD = $6.66, AUD= $9.10 approx) 21 trades 3 loss (15%) 4 scratch(20%) - higher than normal - means market price hit target but moved back to entry price. 14 Winners(65%) - a bit lower than normal as more scratch trades this week. 2 Errors - both were losers. 1. Stop placement to close - follow the rules 2. chased a trade as market moved to fast to enter...follow the rules Takeaway - probably should NOT have traded Friday as Chinese NY had started.

Yep agree. I found Friday slow as well plus it was a half day with market closing 12:30pm local for the LNY.

Itching to trade (kids first day back at school today).....just checked the HK Exchange website....latest news is trading begins on 29th Jan...(tomorrow) - fingers crossed as it wouldn't surprise me it's suspended trading with all the Virus data coming out...I am truly sceptical the Chinese Govt is giving real numbers..