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OK, finally got stopped out on the combine. I decided to close my combine account and considering opening up live account with the money that I don't mind losing, and where I don't need to be restricted on the profit target and can SIM trade it way lower than keep paying TST every month + the reset button. I will post the chart when I'm trading live.
I'm not sure why I can't make money consistently with futures unlike stock market (live account).
So after dinking around too much with the setup and indicator on CL, it's not something I can do consistently, actually I lose more than gain (sim account).
These couple of months I've been practicing my futures sim account on ES while make a commitment to learn footprint and delta stuffs, it's been very tough learning curve, but I believe it's starting to make sense.
So Yesterday I made my 1st live trade for 2 ticks gain. IMO it was a bad entry, but nonetheless, I saw absorption on this level (cu delta keeps going down but the price stays), so I thought maybe I have a chance to make some money, so keep holding and leave when I'm ahead and keep seeing sellers on these area.
Today make 2 live trades:
1. Did well. Saw 3 in a row in three minutes a big seller. Also I believe the trendline holds. Had a feeling they let the price go up a bit to get people going long, but I see cu delta keeps declining, so well played on this one.
2. I believe I read it wrong and got lucky. Should be similar to yesterday trade, cum delta pointing down, seeing a lot of seller but the price keeps stalling at the same level. In the end out for 1 tick and saw cum delta started going green.
Been watching marketdelta and other webinars, and it's been couple months since I'm trying to use footprint volume delta imbalance. I rarely seen the imbalance is about 500% 2-3 times in a row in a bar around the turning point, does that means I just need to trade 4-5 times in a month? LOL
It's been bothering me for some time why my trades went againts me right away everytime i put it on. I believe i've spotted where the turn should take place (support and resistance). Yes there are times when it just took off in my direction, but usually it goes againts me and then comes back. I wonder if I'm still lacking the skill spotting those areas or something else.
I read one of pete jigsaw treads what price will do in a pre-determined support amd resistance area. When you think about it, then we have pretty much 25% of success rate to have a profitable trade in this situation.
So in the near future, I will do some sim trading experiments. The thesis would be "taking trades at random price level is a profitable strategy than at pre-determined support/resistance level". It sounds crazy but when you think about it, why many traders have failed in trading? I believe many of them probably can see what you see in sopport/resistance level (i will leave psychology part alone for this). Maybe all what we know about support/resistance from hearing, listening, reading, and watching were all wrong informations?
This experiment in sim environment will take a while, and would love to share it with whomever interested in the future. I'm out!
I'm back to SIM starting tomorrow and will journal it in here. My daily prep, techniques, live, and MES trading will be in Elite section.
My intention back to SIM is to gauge how well I've been progressing till now with added risk reward ratio restrictions and somehow come out with an answer toward the end of this experiment.
Plans:
1. Stick to 1 lot trading.
2. Max 2 trades / day.
3. Picky with trade locations.
Whatever happens, can't close for BE or too early, either hit target or stop loss.
If fee is $5/RT, today would have been -$10. Not bad, 1st entry was not good. Pretty confident on that 2nd entry.
