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Slightly better entry point, however, it would put entering just above the VWAP line which can and does act like support/resistance and we are getting close to US market open in about 40 minutes. I will hold where the entry is currently located and see what it does if it gets down to VWAP.
Took one small scalp after the initial trade. Ended up +255 for the day.
Stepped out for a bit and missed some good trades. But I am ok with it. I had a headache and trading was not a good idea at the time. The first trade I could have gotten in earlier but kept the entry where it was because of the opening of the U.S. markets. At first I wasn't happy about the decision but after a while I realized it was the smart and conservative thing to do. I got out a little early but the exit point made sense and in all reality if I would have waited until another swing developed to move my stop I would have gotten out within a few ticks of where I did exit.
Now that I am feeling more comfortable with NQ I have set some lofty goals for myself. To push myself and reach these goals I am going to put them in this journal. YOU guys can hold me accountable. There will be no hard feelings if you do.
Goals:
Beginning with 1 contract per instrument traded build a full time income by the end of September 2018. I consider a full time income as being above $10,000 USD per month. As proof I will post a copy of my daily activity report from Phillip Capital (minus name, the street address and the account number of course) in this journal. I will leave the city and state along with anything else in the report. I will also keep a running total of the profit/loss per day in calendar format so everyone can see an overview of what is going on.
You should be able to match up the report with what I post here for confirmation. The only difference will be the commissions being taken out. But I can post that info during the day as well.
Account size: The initial size of the account doesn't really matter. In fact I probably won't post that until some time in the future. I am going to start with just 1 contract. Since this is the minimum you can start with and everyone has to at least start with 1 contract I felt this was a fair place to start. I will only increase the number of contracts for every 5k the account grows. So, at 0 growth it's one contract, at 5k growth it is 2, at 10k it is 3, etc,etc. To be successful in this challenge, my income for the month of September MUST be 10k or greater. Then I must maintain that level of income through the end of the year.
I am allowed to trade when I want for however long I want each day to reach this goal.
So, why am I doing this? I love challenges. It helps keep me motivated. Getting the people in this forum to hold me accountable just makes it even more of a challenge. The real question is can it be done in such a short time frame? The simple math says it is possible, the only variable left undefined is the trader.
I will also be switching to just doing an update to this journal once a day. It may be multiple posts but it will only happen at the end of the trading day.
Oh, when does it start???? July 23rd 2018 of course. No time like the present. So hang on this could be a bumpy ride. LOL!
Here is today's profit/loss calendar:
I will post the activity report when they send it. Sometimes it isn't until late in the evening.
One trade today. For a whopping +20 in profit. LOL! Felt out of sync with the market today. Letting every little thing distract me and every doubt creep in.
At today's blazing 4 tick profit pace my estimate for reaching the goal of 10k per month will still happen.... In March.... of 2022!! Not including taking out for commissions.... LOL!
I need to work on my focus.
Oh well, it is what it is. The market will only give you what you earn.
Going to take a bit of a break and then I have some homework to do. Need to break this habit of second guessing myself and the system I developed.
