My name is Jose, from Spain. I am not an expert in futures trading. In the past I have traded spot forex during my university years without much success. Now that I have finished my studies my dream is to become a full time trader. But I know this will be a very hard task. I have a year of testing to prove if I can be full time trader before starting the master's in quantitative finance. I will try in the measure be updated my journal but my English is not the best and this may pose some problems. I will not explain in detail my strategy because the most important thing in my trading are the skills.
I was going to say (but didn't like to) ... unless you're trading something time-specific like "the first opening range breakout", perhaps, it's not easy to understand the logic of limiting yourself to one trade per day: it can mean missing or excluding an even better set-up, a trade with a bigger edge, just on the grounds that you've already traded once? I know people's perspectives differ on the point, but it's always seemed to me that if one has an edge, one should be applying it to the market whenever one gets a genuine opportunity?
If you're trading futures and paying for data then you really should be looking at the advantages that trading futures give you. I can see you have delta loaded but that's half the story. Can I suggest you look at volume profile to start with. If using Ninjatrader you can download a Gom MP indicator if you pay $100 to join bigmike's elite circle. Do some research before committing though!
Also, here's a quick idea-you see those big aggressive bars on the delta? Why not come up with a plan that gets you to trade with them and not against them?
The reason I prefer a one trade per day, it's psychological and based on my experience I get better results. I put all my attention on beat the market once a day. And this works better for me at the moment. In the future maybe go increasing the number of trades per day. But time will tell me when I'm ready for this.
Thanks brotha for participating
The following user says Thank You to jossfx for this post:
Yes, I have GomMP installed. But I'm not interested in. I tried but I don't take advantage from GomMP.
I have my own interpretation of CD based on my experience. At the moment I'm fine with my rules, and I do not intend to change them for now.
Thanks for participation and look forward seeing you here soon.