I will try and describe my methodology and post my premarket prep and postmarket review for each day.
The aim of this thread is honesty, self-mentoring and appreciating the journey we travel on.
Whilst I wish to focus on day trading one futures instrument only (in addition to longer term trading through options and spreads), I am still in the process of transitioning to that (from a mixed bag of six instruments).
I have high hopes that the mini DAX may become my favoured market if it is significantly less skippy than its big brother.
During the following week I'll set up this journal and describe my methodology but will not have much opportunity to trade as I am travelling until 28 Oct
I'll get into my methodology and setups in another post(s) but here are the tools I use:
- Jigsaw (DOM, Recon Tape, Recon Tape Power Meter)
- Sierra Chart Footprints
- Sierra Chart 3/12/45 min charts
- a tick chart without price bars but instead just zig zag swings (sits in the corner as an HTF reference point)
Analysis Tools For Pre Market Prep
- Volume Profile
- Market Profile
- Keltner Channels and Fractal Pivot Points on 3/12/45
I watch for setups on the multiple timeframe charts per my prep and execute off the order flow per the rules developed
There is nothing new in my trading.
It has all been done before and I am a great advocate of Wyckoff, Auction Market Theory, Order Flow and trying to understand probabilities.
I believe my edge is lots of lego bricks added together to form a whole and my current focus is on the discipline required not to undermine that edge, since it will always be small no matter what we do due to the random nature of markets.
I have wasted too much time on indicators that give one no edge.
My biggest problem is me and that's why journalling has become so important
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