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My journal for scalping/day trading ES


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My journal for scalping/day trading ES

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  #1 (permalink)
EStrader09
Toronto Canada
 
 
Posts: 24 since Dec 2019
Thanks: 5 given, 27 received

First of all, pardon my english and my poor writing skill as I'm not good at expressing things verbally or clearly through writing. I speak five different languages 'coz my parents immigrated to different countries as a kid and I didn't get a chance to master any of them. I attended high school and university in Canada which I couldn't afford to social with friends due to busy working for different part-time jobs during school years to support myself and my family.

As mentioned on Intro. Myself thread, after graduated from a major and a minor degree in computer science and math. I worked in banking industry doing IT works where I got exposed to investment field that I decided to quit my job after five years of working there to focus on trading full time. Well, I was so bored of my job because my daily routine was the same for everyday and I had nothing to do for most of the day except staring blank at monitors. Plus, I didn't see any future with kind of job that I worked for and the salary package wasn't great.

Over a decade of trading full time, I blew my accounts few times learning all kind of mistakes while trading different instruments such as stocks, bonds, leveraged ETFs and option. I only began to turn my trading around in recent years after developing and focusing on high probability trading strategies and the only instrument I trade is ES/NQ. My swing trading strategies are quite consistent for years and I'm happy with the performance so far. However, I still need to fine tune my day and scalping strategies and hence, it's what this journal is all about. Upon reading and evaluating different prop firms such as Topstep, Oneup, E2T and Leelo, I decided to give Leeloo a try and see how it goes. I don't recommend Leeloo to anyone though due to its poor payout structure to us a a trader and yet, I can't tell how reliable this firm is. I currently trade this account in December last year and am projecting myself to pass the evaluation stage within a week or two.

I'll use this journal to update my trading performance at the end of each day as well as discussing or sharing ideas/strategies. I'm open to help out others who are struggling, but I'm quite frankly to say that you must do your own homeworks because a part of trading edge comes from you as well. If you don't work hard to discover yourself while developing trading skills, you won't be able to tell what your suitable trading style is and where your strengths and weaknesses are so you can take advantages of or avoiding it. Don't let anyone to discourage you by telling you that you can't do it. From a decade of extremely hardworking efforts that I put into trading, all I could say is that trading does work but you have to be very patient and discipline to follow your trading plans or strategies. Good luck to us as a small trader struggling to make some livings.

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  #3 (permalink)
EStrader09
Toronto Canada
 
 
Posts: 24 since Dec 2019
Thanks: 5 given, 27 received


Here is the screenshot of my current status with Leeloo's 50k evaluation account. Please don't have high expectation on me at this stage while I'm still improving on entry and exit techniques for several reliable scalping and day trading setups.


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  #4 (permalink)
EStrader09
Toronto Canada
 
 
Posts: 24 since Dec 2019
Thanks: 5 given, 27 received

Here is a list of my setups triggered today:

Scalping: 3
Day trading: 2 but I missed one while taking care of errands outside.
Swing trading: 0

P/L: +$450 by using 2 contracts per trade. My day trading setup was cut short for +1 tick gain due to NFP report released @8:30am. It could have been a +3 points of gain if I held until 8am. I normally stop trading an hour before any market event.

Thank you for reading and have a wonderful weekend


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  #5 (permalink)
EStrader09
Toronto Canada
 
 
Posts: 24 since Dec 2019
Thanks: 5 given, 27 received

Here is a list of my setups triggered today:

Scalping: 0
Day trading: 0
Swing trading: 0

P/L: 0. No trade for today.


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  #6 (permalink)
EStrader09
Toronto Canada
 
 
Posts: 24 since Dec 2019
Thanks: 5 given, 27 received

Here is a list of my setups triggered today:

Scalping: 2
Day trading: 0
Swing trading: 0

P/L: +$300 using 2 lots to trade. I missed several scalping trades today. That is okay. What matter is I PASSED EVALUATION ACCOUNT


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  #7 (permalink)
 Maelstrom 
Round Rock, Texas
 
Experience: Intermediate
Platform: Ninjatrader
Broker: NinjaTrader
Trading: RTY, ES, YM
 
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  #8 (permalink)
dark14horse
los angeles + california
 
 
Posts: 1 since Apr 2019
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Can you show us the screenshot of your trade? How do you determine your entry and exit based on?

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  #9 (permalink)
EStrader09
Toronto Canada
 
 
Posts: 24 since Dec 2019
Thanks: 5 given, 27 received


dark14horse View Post
Can you show us the screenshot of your trade? How do you determine your entry and exit based on?

I'm sorry that I can't show screenshots of my trades randomly online but I can answer your question that my entry, exit & cut loss techniques are based on customized indicators, MAs and others. None of what I'm using are from default indicators or default time frames. It tooks many years for me to figure all these things out and therefore, I prefer to keep them in secrets.

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  #10 (permalink)
EStrader09
Toronto Canada
 
 
Posts: 24 since Dec 2019
Thanks: 5 given, 27 received


Guys, Leeloo needs a couple of days to review and setup my funded account. So, I'll continue to update my journal with sim practice until my funded account is setup. I'll treat it like a real account 'coz I'm still forward testing few scalping setups so I could review their stats weekly, monthly and annually to see which one is more reliable. The purpose of doing this is that I can use more contracts to trade like a lion pouncing for foods once I've enough stats to proof it. That said, I need at least 100 to 200 trades per each setup before I decide which one is better than others.

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  #11 (permalink)
 DoubleUCapital 
Tel-Aviv Israel
 
Experience: Advanced
Platform: NT
Trading: ES
 
Posts: 63 since Dec 2019
Thanks: 46 given, 126 received


EStrader09 View Post
I'm sorry that I can't show screenshots of my trades randomly online but I can answer your question that my entry, exit & cut loss techniques are based on customized indicators, MAs and others. None of what I'm using are from default indicators or default time frames. It tooks many years for me to figure all these things out and therefore, I prefer to keep them in secrets.

so a few q. you may be able to answer:
1. Do you trade 2 contracts of ES or MES?
2. Do you have a TP and SL for every trade? What are they?
3. What are your trade hours?
4. What is the average time of an open trade?
5. What is the average profit/lost per trade?
6. How many trades you place a day?

Thanks in advance.

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  #12 (permalink)
EStrader09
Toronto Canada
 
 
Posts: 24 since Dec 2019
Thanks: 5 given, 27 received


DoubleUCapital View Post
so a few q. you may be able to answer:
1. Do you trade 2 contracts of ES or MES?
2. Do you have a TP and SL for every trade? What are they?
3. What are your trade hours?
4. What is the average time of an open trade?
5. What is the average profit/lost per trade?
6. How many trades you place a day?

Thanks in advance.

1. 2 contracts of ES
2. There is a signal (let's call it S1) that I've been using it for years. I noticed that while price action (PA) shows momentum in one direction during intraday market, price will keep trading above or below S1. When it touches S1 for the first time, there is usually at least another leg to go. This is where I book my profit. Otherwise, I cut loss immediately once price is trading above or below it.
3. I trade from Asian to US session starting from 4am to 4pm. However, I might have other things to attend to from time to time and for that reason, I miss a setup here or there.
4. The average time of holding is different for each setup. It can be few minutes for scalping, an hour to two for day trading and longer for swing trading.
5. Check #2 and the outcome for each setup is different.
6. Only few trades a day because day trading setups only show up once or twice a day or might not. Swing setups might show up once or twice a week.

Another thing I want to add on is that it's quite often to see some patterns that look very much like my day trading or swing setups, but as long as entry signals including S1 won't confirm I'm safe. This is one of the reasons why I don't take many trades in a day so I can avoid those traps. Consistent profit making is what I focus on.

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  #13 (permalink)
 DoubleUCapital 
Tel-Aviv Israel
 
Experience: Advanced
Platform: NT
Trading: ES
 
Posts: 63 since Dec 2019
Thanks: 46 given, 126 received

What is the win/loss ration?
What is usually tp/sl ration?
4am to 4 pm EST time?

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  #14 (permalink)
EStrader09
Toronto Canada
 
 
Posts: 24 since Dec 2019
Thanks: 5 given, 27 received


DoubleUCapital View Post
What is the win/loss ration?
What is usually tp/sl ration?
4am to 4 pm EST time?

Are these terminologies "the win/loss ration and tp/sl ration" coming from Forex trading???

Well, in general I avoid to trade setups that produce less than 90% of win rate. The way how I do this is by manually forward testing these setups out of at least 100 trades per each setup using exactly the same configuration. Likewise, I don't have specific rules for tp/sl ration. Each trade is different depending on how long price momentum last before I take profit or cutting loss(es).

Yup, that's eastern time.

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  #15 (permalink)
 DoubleUCapital 
Tel-Aviv Israel
 
Experience: Advanced
Platform: NT
Trading: ES
 
Posts: 63 since Dec 2019
Thanks: 46 given, 126 received

win/loss ratio and size of win/loss are basis of calculation probability of method winning/losing for long term.
Used in game theory for any action involved unknown future parameters.

If your win rate is 90% as you said and your win/loss is just 1 dollar to 8 dollars (or points/ticks), you will owe the world in a few months.

Good luck.

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  #16 (permalink)
EStrader09
Toronto Canada
 
 
Posts: 24 since Dec 2019
Thanks: 5 given, 27 received


DoubleUCapital View Post
win/loss ratio and size of win/loss are basis of calculation probability of method winning/losing for long term.
Used in game theory for any action involved unknown future parameters.

If your win rate is 90% as you said and your win/loss is just 1 dollar to 8 dollars (or points/ticks), you will owe the world in a few months.

Good luck.

Let's assume that we've a setup or two which generate >90% win rate taken from more than 100 trades each, there is no way that you or I will go all in or all out because experienced traders are well aware of capital preservation is #1 priority in this business.

All I've in my mind right now is to see how my trading goes by trading LeeLoo account this year. If these setups are as reliable as I thought they are, my next step is to participate World Cup Trading Championship in January 2021 to challenge myself to the next level.

As for now, I keep forward testing and fine tuning these setups to make them as reliable as possible. This includes setups with <90% win rate but >75% while implementing tight stop losses.

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  #17 (permalink)
EStrader09
Toronto Canada
 
 
Posts: 24 since Dec 2019
Thanks: 5 given, 27 received

Here is a list of my setups triggered yesterday trading in SIM which I didn't get time to update my journal:

Scalping: 1
Day trading: 1
Swing trading: 0

P/L: +$500 using 2 lots to trade. A lot of market actions happened yesterday but I mostly stayed out 'coz my setups didn't get triggered.


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  #18 (permalink)
 DoubleUCapital 
Tel-Aviv Israel
 
Experience: Advanced
Platform: NT
Trading: ES
 
Posts: 63 since Dec 2019
Thanks: 46 given, 126 received


EStrader09 View Post
Let's assume that we've a setup or two which generate >90% win rate taken from more than 100 trades each, there is no way that you or I will go all in or all out because experienced traders are well aware of capital preservation is #1 priority in this business.

All I've in my mind right now is to see how my trading goes by trading LeeLoo account this year. If these setups are as reliable as I thought they are, my next step is to participate World Cup Trading Championship in January 2021 to challenge myself to the next level.

As for now, I keep forward testing and fine tuning these setups to make them as reliable as possible. This includes setups with <90% win rate but >75% while implementing tight stop losses.

To know how much to put at risk per trade has a direct correlation to your win/lost and size of win/lost ratio I asked you before. With your claim of 90% that not even an issue to talk about. YES, YOU GO ALL IN. YOU LOAD THE TRACK. AS BIG AS YOU CAN. Mortgage your home and just trade it day in day out.

If you are looking for World Cap Championship, than maybe you are not really for trading and make money but for something else.....(Are you in need of ego boost or nice bank account?)

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  #19 (permalink)
EStrader09
Toronto Canada
 
 
Posts: 24 since Dec 2019
Thanks: 5 given, 27 received

I spent most of my time yesterday in vet hospital while my pet was facing life & death situation and I barely get any sleep. Luckily he survived after two surgeries within six hours. Seeing him suffering really broke my heart as a pet's lover. The good news is he survived & he will be spending the next few days in hospital to recover.

-------------------

Back to trading, my Leeloo funded account was setup and I'm trading it now. I got distracted with my 1st scalping trade using 2 contracts to trade & couldn't exit intime to lock in profit. I obey my rules to cut loss @ -$150. Few hours later, I brought my account back to above positive from using day trading setup using 1 contract to trade this time to reduce risks from hitting daily loss limit which I exited @ +$275. Lesson learned again here is do not trade scalp setups while getting busy with something else.

------------------

I'm too exhausted right now. So, I'm going to call it a day here. Have a great long weekend everyone.

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EStrader09
Toronto Canada
 
 
Posts: 24 since Dec 2019
Thanks: 5 given, 27 received

I forgot to attach screenshot of my account balance EOD for last Friday.


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  #21 (permalink)
EStrader09
Toronto Canada
 
 
Posts: 24 since Dec 2019
Thanks: 5 given, 27 received

Here is a list of my setups triggered today:

Scalping: 1
Day trading: 1

P/L: +$50 from scalping using 1 lot while missing a day trading setup. It's holiday today for US market and hence, I don't expect much action. I spent most of my time in vet hospital instead.


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  #22 (permalink)
EStrader09
Toronto Canada
 
 
Posts: 24 since Dec 2019
Thanks: 5 given, 27 received

P/L: -$150. Today is one of those terrible days where I deviate from my trading plans and then put on random trades. This usually happens after I missed a big move or two.


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  #23 (permalink)
EStrader09
Toronto Canada
 
 
Posts: 24 since Dec 2019
Thanks: 5 given, 27 received

P/L: +$262. I followed my trading plan today and everything is back to normal


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  #24 (permalink)
EStrader09
Toronto Canada
 
 
Posts: 24 since Dec 2019
Thanks: 5 given, 27 received

P/L: +$100 by using 1 contract to trade. I accidentally closed this trade or else, it was a +$400 which I made from my own trading account. Starting tomorrow, I'll begin to trade more aggressively in LeeLoo's funded account for few highly reliable daytrading setups.


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  #25 (permalink)
EStrader09
Toronto Canada
 
 
Posts: 24 since Dec 2019
Thanks: 5 given, 27 received

Since this is my journal, I'll keep it in the same format similar to my trading plan. Below is a list of reliable to highly reliable setups that I'm going to trade NEXT WEEK with real money in my own account and in LeeLoo's funded account. I've done enough back test and then forward testing for months to years (especially day trading setups) to the point where I've quite confident enough to trade more aggressively. In the meantime, entry, exit and stop loss techniques for each setup are in effect.

S1a (scalping setup for 1-3 pts): 0
S1b (scalping setup for 1-3 pts): 0
S1c (scalping setup for 1-3 pts): 0
S2 (day trading setup for 3-10 pts): 0
S3 (day trading setup for 3-10 pts): 0
S6 (day trading setup for 3-10 pts): 0
S8 (day trading setup for 3-10 pts): 0
W9 (day + swing trading setup for 5-20 pts): 0

P/L in total: +125. I got no setup to trade today. Two scalping trades were executed purely based on S&R level.

---------------

Have a great weekend



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