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Trade 1: Asian Session, trying to pick a bottom. looking for aggressive longs due to long wick on daily chart. We are in a multi week consolidation, but we are getting big wicks on higher lows, off the 200 day ma. We just formed another one.
So Here I am picking bottoms in asian session. full stop out. -17 ticks.
Trade 2: Same trade, second attempt. This time it holds, and we begin the long slow process of letting the trade develop in the overnight session. it begins making headway in my favor, but unfortunately I get a call from work that requires me leave the screens, so I close out the trade to go attend to other matters. +48 ticks.
Trade 3:
Opportunistic long early in the initial balance. We test the overnight low and buyers come in strong, but we are still in a down trend channel from overnight sessions. I know I want to be long over all, from the daily chart, and the 10k volume chart is showing price to be slow rolling for a possible dump out short. The key to this entry is the real time volume profile on my 987 tick chart. it was an unbalanced distribution. From my journaling these unbalanced distributions early in the day like this, tend to balance, and sometimes they are the genesis of a trending move. They will occaisionally fail, but you can usually get out breakeven when that happens. So I look for them as a set up. They take a lot of study and data collection before attempting though, as this one could still go test the LOD again before breaking out, but I really like the pop off the lows and get long as it tests the highs, up above current POC.
It never looks back after my entry, and then its just a matter of trailing it up. As the volume profile develops, I really dont like a hole in the volume we left after the initial breakout to the upside, price should have came back and tested that resistance as new support before going up, good problem to have, I know, but it still has me worried as I only have the one lot to play with, so I am stuck, take profits at a high, or risk all the profits on the possible eventual retest of that area as support. I opt to take the profits, I can do that stuff later, when I am trading with two lots.
Stopped trailing after I tighten up. +108 ticks.
Trade 4:
Instantly after being stopped out, the regret sets in, and I look to re-enter on a pullback. I jump in too soon, front running the trade, and get stopped out for -24 ticks. Trading with too much emotion, making very poor decisions, so I stop and write up this post. let price do its thing.
total ticks for today is +115. I may take more trades, but am only allowed one more loss on the day, of 24 ticks or less, so it will need to be an A+ setup. I am looking to see how price reacts up above the 6710 level. or a retest of the ONH which it has taken out as I wrote this up.
UHGGG: NQ is trending hard to the upside. If I had just held my Trade 3 position I would be in profit sufficient to hit my Funded Trader Preparation goal. So a lot of emotion underneath, too much to trade well with. Intellectually I know this is just part of the process, you have to crawl before you can walk, and You have to be able to trade one lot profitably before you can progress to the extra risk of two lots. This situation today is a major point in my cyclical over trading behavior, I let the regret take hold. raise my risk to two lots, at some point start over trading, and spiral from there. So I just have to face the reality of my performance, and maintain my process that got me to this level of success, avoiding over trading, putting on too much risk, or revenge trading. So going to stop for the day and do some hand written journaling to help process the regret, and look at useful take aways, such as the analysis that correctly had me bullish in the first place.
So I never integrated posting my daily trades to this forum. sorry. But I did manage to get funded.
The trick now will to stay funded. I will have to be better at keeping my bad days below my daily loss limit, and an integral part of that will be taking higher quality entries and holding them for the big win. My methodology and analytical framework can certainly achieve that, all I have to worry about is my psychology. working on that using the methods taught by Rande Howell, who, even though he doesnt know how to spell Randy, seems to have a pretty good handle on how your psychology and specifically your emotions can sabotage your trading.
Got my funded account set up and am live. The first day I tried to short NQ in that nice selloff, but my license wasnt in right or something so i missed the big move, and then forced a few poorly concieved trade. lost like $300 bucks. bleh. Was pretty nerve wracking, but I stopped the loses and shut it down for the day.
So todays trades I am in that $300 hole, and am playing it really tight.
This gets me out of the hole, and up $70. going forward I just want to build on consistency and sticking to my process and let the money stack up however it stacks up.
