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OneUp Trader Evaluation ($50,000) - Lead's Trading Journal
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OneUp Trader Evaluation ($50,000) - Lead's Trading Journal

  #1 (permalink)
Trading Apprentice
Lagos/Nigeria
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: Emini ES, Crude CL
 
Posts: 26 since May 2017
Thanks: 4 given, 20 received

OneUp Trader Evaluation ($50,000) - Lead's Trading Journal

Hi all,

I am so glad to be part of futures.io and I believe the experience will be worthwhile. This trading journal is to help me hold myself accountable and also seek expert's contribution to better aid my trades.

I successfully registered for a $50,000 evaluation with OneUp Trader. I am very much impressed with the trader's profile and the promptness in answering my mails, considering I reside in west africa and they operate from the states, I suppose.

Note: I am not in anyway affiliated with OneUp Trader.


I was first introduced to the world of futures during my Msc programme in the states in 2013. I have traded live and demo during this period in an on and off pattern. My greatest limitation has been availability of fund considering I prefer risking 1% or below during each trade.

The trading methodology will be based on Al brooks and PATs Trading.

Instrument - CL (Crude Oil)

Chart - Tick Chart (800 ticks)

Time of trade: London and New york


I will be posting my trading plan in the next post


Regards

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  #2 (permalink)
Quick Summary
Quick Summary Post

Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.

 
  #3 (permalink)
Trading Apprentice
Lagos/Nigeria
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: Emini ES, Crude CL
 
Posts: 26 since May 2017
Thanks: 4 given, 20 received

Trading Plan


No. of Trades per day CL 2
ES 2

CL 60% win ES 70% win
40% Loss 30% Loss

The R Ratio Risk:Reward 1 to 2 Risk:Reward 1 to 1

Wins 1200 Wins 700
Losses 400 Losses 300

R 3 R 2.333333333

Maximum Drawdown ES $200 Per day
$500 Per week

CL $200 Per day
$500 Per day

Trade Time ES New York Session 3pm - 6pm WAT
CL London session 9am - 12pm WAT


Trading Edge 1 EMA Pullbacks in Strong Trends
2 Clear and strong reversals after major trendline breaks and retest of TL
3 First Hour failed breakouts and breakout pullbacks of patterns from prior day


Trade Break After 100 Placed trades
Break Duration 2 - 5 days


Limit Up CL 8% $400
ES 8% $400

Limit Down CL 4% $200
ES 4% $200


Exit Strategy For trend When stock crosses the 21 EMA of the 800 tick chart (CL) and 2000 tick chart (ES)
2 ticks away from closest support/Resistance

For range 2 ticks away from closest support/Resistance

Book of Wisdom Read each chapter of the Book of proverbs as it corresponds to the day

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  #4 (permalink)
Trading Apprentice
Lagos/Nigeria
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: Emini ES, Crude CL
 
Posts: 26 since May 2017
Thanks: 4 given, 20 received

Yesterday Trade (6/14/2017)

Trade one:

Entered a sell order at about 9:02 WAT. A pullback to the 21 EMA. The market couldn't get to my TP of 20 ticks, it was just 2 ticks shy. I noticed a reversal pattern and considering that I am a momentum trader, the trade was making no head way for close to 30 minutes (thereby creating a barb wire formation). I decided to exit my position with a +9 ticks win at about 9:40am WAT.

My instinct was right afterall. The market went bullish.

Chart...

Attached Thumbnails
OneUp Trader Evaluation (,000) - Lead's Trading Journal-cl-07-17-800-tick-2017_06_14-.png  

Last edited by lead; June 15th, 2017 at 03:14 AM.
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  #5 (permalink)
Trading Apprentice
Lagos/Nigeria
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: Emini ES, Crude CL
 
Posts: 26 since May 2017
Thanks: 4 given, 20 received

Yesterday Trade (6/14/2017)

Trade 2

I entered a sell order at about 3:40 pm, 10 minutes after the inventory release. I waited for the break of a strong support line (Low of yesterday's trade). After the break, I waited for a pullback after the formation of 3 bearish candle stick. My TP of +20 ticks was hit at about 3:41pm. The trade lasted for just a minute.


Word of Wisdom: Sometimes the best trade is not to trade.

Chart;

Attached Thumbnails
OneUp Trader Evaluation (,000) - Lead's Trading Journal-cl-07-17-800-tick-2017_06_14-b.png  
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  #6 (permalink)
Elite Member
Wiltshire, United Kingdom
 
Futures Experience: Beginner
Platform: TSTrader(Tradovate)
Broker/Data: Working on a TST combine
Favorite Futures: ES
 
matthew28's Avatar
 
Posts: 327 since Sep 2013
Thanks: 280 given, 387 received

Hi,
You are off to a good start. Good luck with the evaluation and getting yourself funded.

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  #7 (permalink)
Trading Apprentice
Lagos/Nigeria
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: Emini ES, Crude CL
 
Posts: 26 since May 2017
Thanks: 4 given, 20 received

Trade 6/15/2017

Another trade day. It was not exciting not because I did not win but because i failed to stick with one of my rules.

Anyway, I'm a work in progress and that's the more reason why I applied for oneUP Trader so has to improve my trading discipline.

Trade one : This sell trade was entered by 9:04 and my SL was hit at about 9:16 pm. The loss of this trade gave me a reason to have an indicator to specify overbought or oversold region.

Result : -10 ticks

If you look at the chart, you will realize it is a good pullback setup but the strong bullish pullback bar and the oversold region gave me up.

Attached Thumbnails
OneUp Trader Evaluation (,000) - Lead's Trading Journal-cl-07-17-800-tick-2017_06_15.png  
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  #8 (permalink)
Trading Apprentice
Lagos/Nigeria
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: Emini ES, Crude CL
 
Posts: 26 since May 2017
Thanks: 4 given, 20 received

Rule Broken




Yes I admit, I broke one of my rule by going beyond the total number of trades of 2.

I placed 3 trades today. Ideally, my rule states that I close for the day, after 2 trades. Win or Loss.

I have understudy myself and this rule has helped me greatly.


Last edited by lead; June 15th, 2017 at 02:47 PM.
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  #9 (permalink)
Trading Apprentice
Lagos/Nigeria
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: Emini ES, Crude CL
 
Posts: 26 since May 2017
Thanks: 4 given, 20 received

Trade 2 and 3

Trade 2 was also based on the EMA pullback and the same reason for its fail could be attributed to fact that I was buying in an overbought region. So I believe the probability was further reduced because of the "overbought" factor.

It is important to note that I have never used an indicator on the futures except for the 21- EMA. After 2 consecutive losses, I had to scrutinize the chart to see what went wrong. On adding the MACD, on the chart, I realized two things

1. I sold in an oversold area for Trade 1
2. I bought in an overbought region for Trade 2.

I decided to use MACD for the sole purpose of validating my entry (based on overbought or oversold), Since I am on the lookout of just 2 high probability trades per day.

Trade 3 was sheer indiscipline. I am still trying to figure out why the trade was placed. I believe My psychology is already programmed for 2 trades in a day. So I guess that's why I acted rashly.

The Mistake was made. I have forgiven myself. I am ready for friday.

Trade 2: - 8 ticks
Trade 3: - 10 ticks.

The journey of a thousand mile begins with an intent then it is followed by a step.

Attached Thumbnails
OneUp Trader Evaluation (,000) - Lead's Trading Journal-cl-07-17-800-tick-2017_06_15-b.png  
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  #10 (permalink)
Trading Apprentice
Lagos/Nigeria
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: Emini ES, Crude CL
 
Posts: 26 since May 2017
Thanks: 4 given, 20 received

061617 Trade


I just took one trade today. I feel like beating myself up considering that I already had a thing for friday.

On Friday and mondays, I usual aim for 10-15 ticks because the market tend to be sloppy.

The market went 18 ticks my way and rebounded. Notice from the chart, the market came to test that low again. This is a regular occurrence in CL. I could've adjusted my TP to that point considering that the bullish bar was quite strong.

Anyway, I exited the trade with 9 ticks because the market is becoming sloppy.

Note: I switched to the August contract month because there was more action going on there. After all, I believe the present month contract is expiring on the 17th (Tomorrow).


Trade Outcome: +9 pips

Contract size = 3

I usually trade just 2 contracts per trade but I entered the market not knowing I am yet to select my ATM strategy.

Overall Week performance: Achieved roughly 8.3% of my profit target for the week
Total No of Days traded: 3

About OneUp:

On the side note, an RT of $5 per contract is really biting. I see myself as a scalper, the only difference is that I limit my trades. Anyway, I will advice folks that want to try OneUp Trader (OUT) out to really factor this in.

I was really impressed about their trade analysis on the trader's profile. One simple word to qualify it - Professional. I may share some of it with you folks.

.....................................................................................................................................................................................

On a final note, I will like to share a word of wisdom I encountered today. quite deep, I must say.


The lot is cast into the lap; but the whole disposing thereof is of the LORD. Prov 16:33

--This is so about trading as it concerns me.

Have a great weekend house.

Attached Thumbnails
OneUp Trader Evaluation (,000) - Lead's Trading Journal-cl-08-17-800-tick-2017_06_16.png  

Last edited by lead; June 16th, 2017 at 01:59 PM.
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