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6 Figures in 12 Months


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6 Figures in 12 Months

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  #1 (permalink)
Denver CO
 
 
Posts: 14 since Apr 2019
Thanks: 6 given, 13 received

The title says it all! This journal is dedicated to the gradual growth of both my trading account and my checking account.
The end goal being the withdrawal of over $100K across the next 12 months.
My goal for this journal is to highlight how this is possible for anyone, so feel free to reach out to me with questions or comments along the way.
Alongside logging my trades, emotions, and PnL, I'll make lists of trading education materials (books/movies/classes) and randomly post good quotes I find.


Starting Balances:
Trading Account - $3000.00
Checking Account - $0.00

Ending Balances:
Trading Account - $22,500.00
Checking Account - $125,000.00 (I'll update balances weekly)

Basic Plan:
Daily Profit Target - 10 points on NQ or 4 points on ES ($200 before commissions)
Daily Loss Cutoff - 10 points on NQ or 4 points on ES ($200 before commissions)
(one winner or two losers before I stop trading for the day)
Individual Trade Target - matches the daily profit target (10 points NQ / 4 points ES)
Individual Trade Risk - 5 points NQ or 2 points ES
Contract Scaling - outlined below:

(1) Feb '21 - 1 Contract
(2) March '21 - 1 Contract
(3) April '21 - 1 Contract
(4) May '21 - 2 Contracts
(5) June '21 - 3 Contracts
(6) July '21 - 5 Contracts
(7) August '21 - 7 Contracts
(8) September '21 - 7 Contracts
(9) October '21 - 7 Contracts
(10) November '21 - 7 Contracts
(11) December '21 - 7 Contracts
(12) January '22 - 7 Contracts


Trade Rules:
I'll outline the rules behind the specific trades I take as they are posted.
I trade a combination of two systems - Apex Investing (order flow) and Back to the Future Trading (time analysis).
The basic premise of my entry rules are to take a trade off a strong level from a 30 tick chart, with confluence on a 10 tick chart, at a unique time on a 30 sec chart.
The ATM risks 5 points to make 10 points.
I may manually move the stop to break even, trail the stop, or move the target up/down based on chart conditions identified.
(honestly though, trade management is an area of weakness for me. I would love feedback on my techniques and suggestions for how to improve from the community.)


Currently Reading:
Think and Grow Rich - Napoleon Hill
Market Mind Games - Denise Shull

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  #2 (permalink)
Denver CO
 
 
Posts: 14 since Apr 2019
Thanks: 6 given, 13 received

Not everything in trading has to be work, here's a few trading movies to relax with:

Wall Street 1
Wall Street 2
Margin Call
Trader
Inside Job
Too Big To Fail
The Bank

Here's a thread with even more movie recommendations -

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  #3 (permalink)
 
 
Posts: 2,976 since Jul 2012
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I wish you the best. Turning $3000 into nearly $150K in one year would certainly be a performance for the ages!

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  #4 (permalink)
Denver CO
 
 
Posts: 14 since Apr 2019
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No lie! Who wouldn't want that kind of return on investment. Thanks for dropping a line Kevin.
No matter which direction this goes. I'm excited to place it before the eyes of all the veterans in here to get some second opinions and honest feedback.

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  #5 (permalink)
Legendary Pratik_4Clover
Mumbai, India
 
Experience: Beginner
Platform: TradingView & ZerodhaKite
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Well, since you are asking for honest feedback. 150 over 3 is return of multiples of thousand %. And second thing, generally, irrespective of the return % when someone is coming to trading with the expectation of high trading account and checking account balance in year worth of time, it goes south more often than north.

I don't know about your trading or otherwise background, and this is my strictly personal opinion. Ignore if its not making any sense.

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  #6 (permalink)
Site Moderator
Sarasota FL
 
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dsulli6 View Post
No matter which direction this goes. I'm excited to place it before the eyes of all the veterans in here to get some second opinions and honest feedback.

Best of luck to you. I'll just note that this is very ambitious... but getting started is important, so I'm glad you are taking the step. Also, the trading journal can be a good tool as you go down your path.


dsulli6 View Post
(honestly though, trade management is an area of weakness for me. I would love feedback on my techniques and suggestions for how to improve from the community.)

Since you're asking for feedback, trade management and loss management, including managing risk and managing yourself -- your responses to what the market gives you as you trade -- is the most important thing about trading, many times more important that any specific trading method or technique. I won't make specific suggestions of what to do, because it's an individual matter that is learned by doing.

So, good luck. Let us know how it is going.

Bob.

When one door closes, another opens.
-- Cervantes, Don Quixote
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  #7 (permalink)
Europe Union
 
 
Posts: 11 since Oct 2020
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Its a big challenge!
Good luck to you, ohh sorry the luck here not enough to reach the goal

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  #8 (permalink)
Denver CO
 
 
Posts: 14 since Apr 2019
Thanks: 6 given, 13 received

***Day 1***
Trades = 1
+$196.12


Some big swings on NQ already this morning, down and up, with the market seeming to find heavy resistance in the 13060 area for a bit.

My trade was a simple rangebound move early out of the gate, before the swing down and up even happened.
I wasn't looking for an extended move, just the basic trade.
I didn't touch the stop or target during the trade and just let it ride out. Notes for the trade are on the image.

Grade - B (not as much confluence as could be possible, market already showing upward exhaustion)
Setup - Rangebound Bounce off 30 tick and 10 tick support, in the direction of long term trend
Performance - Target and Stop levels were both assessed prior to entry, no trade management done
Emotions - It was a quick trade, so not much time to get emotional during it

The image file is probably too small to read my comments (I screenshot across 3 monitors).
Open the screencast url to few it in more detail if you want.


https://www.screencast.com/t/iSZ3TzmA

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  #9 (permalink)
Denver CO
 
 
Posts: 14 since Apr 2019
Thanks: 6 given, 13 received


LastDino View Post
someone is coming to trading with the expectation of high trading account and checking account balance in year worth of time, it goes south more often than north.

I agree with you 100% and you make total sense. Thanks for the input LastDino. On the other side of the coin, doesn't everyone come to trading with the expectation of making money? Nobody would do this otherwise, but I get what you are saying. The premise behind this 1 year plan is that by taking the same small target and being consistent with setups, all anyone has to do make more money is to increase contract sizes. The number of trades and setups and targets never have to change.



bobwest View Post
your responses to what the market gives you as you trade -- is the most important thing about trading, many times more important that any specific trading method or technique

This is amazing feedback Bob, thank you for it. I have been feeling this way for awhile now - there is no specific rule to trade management, but if your decisions are based on what the charts and markets are saying, then you are probably doing it right. One thing I'm learning is how our perception of the charts can be heavily influenced based on our beliefs and emotions at the time.

Reminds me of a quote I read by Denise Shull yesterday - "think first in terms of managing risk by reducing unnecessary trades. As you become more and more comfortable with using an awareness of all that you are feeling - on a physical as well as emotional level - you will find that you make fewer poor decisions. In turn, there will be fewer times you need to recover from a bad day or drawdown. This alone will change your bottom line."



CfreeZ View Post
Good luck to you, ohh sorry the luck here not enough to reach the goal

hahaha, you're absolutely right! J.K Rowling agrees too - "luck can only get you so far." I've never considered myself a lucky person, but I have no problem taking advantage of an opportunity when it presents itself.

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  #10 (permalink)
San Antonio, TX
 
 
Posts: 73 since May 2019
Thanks: 32 given, 40 received


Hello, I'm looking through your screen shots and on the second chart from the left, the order flow chart, what are the bars above the chart? Its Diagnostic XXXX

anyways, Happy trading, I hope all goes well for you.

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  #11 (permalink)
Denver CO
 
 
Posts: 14 since Apr 2019
Thanks: 6 given, 13 received

hey jmp470 -

technically, all three charts from the left are order flow charts.
The footprint chart that you are referring to is just the most obvious one.
The bar type is specific to Apex Investing, they are called Diagnostic bars and setup to be a 10 tick bar size.

Basically the footprint chart is showing what the big chart in the middle is showing, its just more zoomed in and shows what the order numbers are inside the bars.
The big chart in the middle is called Order Prints, it just simplifies all the information, takes the numbers out of the mix, and shows the important aspects of what the order flow is doing through graphical representations.

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  #12 (permalink)
Denver CO
 
 
Posts: 14 since Apr 2019
Thanks: 6 given, 13 received

Few questions for the veterans and anyone else reading this -

Do you have a morning routine that you do daily before trading?
How strict are you about doing and following it?
What about an evening routine?
What made you decide to get serious about a routine if you have one?

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  #13 (permalink)
Sumy, Ukraine
 
Experience: Beginner
Platform: NinjaTrader
 
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Posts: 57 since Apr 2019
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I clicked because of title.
Pretty interesting challenge tho.
Good luck

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  #14 (permalink)
Orlando, Florida
 
Experience: Intermediate
Platform: NinjaTrader
Trading: Futures
 
WoodyFox's Avatar
 
Posts: 262 since May 2016
Thanks: 102 given, 531 received


dsulli6 View Post
***Day 1***
Trades = 1
+$196.12


Some big swings on NQ already this morning, down and up, with the market seeming to find heavy resistance in the 13060 area for a bit.

My trade was a simple rangebound move early out of the gate, before the swing down and up even happened.
I wasn't looking for an extended move, just the basic trade.
I didn't touch the stop or target during the trade and just let it ride out. Notes for the trade are on the image.

Grade - B (not as much confluence as could be possible, market already showing upward exhaustion)
Setup - Rangebound Bounce off 30 tick and 10 tick support, in the direction of long term trend
Performance - Target and Stop levels were both assessed prior to entry, no trade management done
Emotions - It was a quick trade, so not much time to get emotional during it

The image file is probably too small to read my comments (I screenshot across 3 monitors).
Open the screencast url to few it in more detail if you want.


https://www.screencast.com/t/iSZ3TzmA

I see by your charts, you are a member of apex investing. I hope you realize Darrell Martin does not trade for a living...He only sells memberships for crazy indicators (Almost all you can get here for free). All of his trades are done in SIM. Just wanted you to know this.

Good Luck in your Journal.

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  #15 (permalink)
Denver CO
 
 
Posts: 14 since Apr 2019
Thanks: 6 given, 13 received


WoodyFox View Post
All of his trades are done in SIM. Just wanted you to know this.

This is one of my biggest pet peeves about this forum. Any vendor I've seen reviews for on here say they are scammers basically. Not sure how you validate him being in sim when he trades all morning in a room and has withdrawn $300K from leeloo - verified (another company you probably think is a scam). He has amp accounts i've seen him trade too. Thats 100% live money.

Is this just your belief from the old posts about Apex Investing on here or do you have some personal experience?

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  #16 (permalink)
Rovigo (ITALY)
 
Experience: Intermediate
Platform: SierraChart, MotiveWave
Broker: Rithmic, Dorman, Interactive Brokers
Trading: Emini, Nasdaq, DAX, Bund, IBEX
 
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dsulli6 View Post

Currently Reading:
Think and Grow Rich - Napoleon Hill
Market Mind Games - Denise Shull

Hi, I noticed that you mentioned that you are reading the book "Think and grow rich" by Napoleon Hill.
I read it some years ago and I think it's a very useful book in some situations and very dangerous in others. This book is basically about motivation, visualization, entrepreneurship etc... it's the first self help book.

If you are starting a company, it's surely very helpful to read but in trading a positive mindset is not necessarily something good.
Be careful in applying these concepts to trading because you can lose a fortune!!

Trading is about rational decisions in stressful and difficult situations, not about wishful thinking.
I also noticed that you are very positive about the possibility of turning 3000 USD to 100K, I don't want to be a naysayer but I have been there. Some years ago I started with 50K and I believed I could turn it to at least 300K in one year..... the result was that I turned it into zero in a couple of months ( you can read my "full story" in my journal ).

If you are an experienced trader you can probably turn 3K to 2 millions (maybe not in one year), but it depends on your level of expertise. So if I can suggest something, take it easy and don't aim too high.... life is long, if you can make 100 USD per day on a 3000 USD account you will be doing great.

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  #17 (permalink)
Legendary Market Wizard
Portland, OR
 
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Does your strategy backtest to at least $400/day average profit?

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  #18 (permalink)
New Haven, CT
 
 
Posts: 72 since Nov 2014
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dsulli6 View Post
Few questions for the veterans and anyone else reading this -

Do you have a morning routine that you do daily before trading?
How strict are you about doing and following it?
What about an evening routine?
What made you decide to get serious about a routine if you have one?

Morning routine - coffee, exercise if I have time, review calendar for earnings and economic events, review charts, scan headlines, read news articles. I have a regular wfh job so evening routine I may trade the open at 6pm a little but usually not past 7:30 pm so I can have some time to unwind before bed.

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  #19 (permalink)
Austin
 
Experience: Intermediate
Platform: NT, SC, MT
Trading: NQ, ES, Micros
 
Posts: 38 since May 2018
Thanks: 91 given, 74 received


dsulli6 View Post
Not everything in trading has to be work, here's a few trading movies to relax with:

Wall Street 1
...

Speaking of Wall Street 1, Hal Holbrook (aka Lou Mannheim) died today :'(

https://apnews.com/article/hal-holbrook-dead-5671774e8afe46a14d01171af0a3912f

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  #20 (permalink)
Tampa, Florida USA
 
Experience: Beginner
Platform: NinjaTrader
Trading: Emini ES, Crude CL
 
Posts: 3 since Nov 2018
Thanks: 4 given, 5 received

So many nay-sayers here. You have a plan and the daily points you’re going for are not too aggressive in my opinion. Also your contract sizing is also conservative so I think it is definitely doable.

Backtesting can help give you faith in your strategy along with seeing if it was possible to get the points every day or not.

I’ll be looking forward to checking in on your progress as I’m attempting something similar


Sent using the futures.io mobile app

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  #21 (permalink)
Strat Enthusiast
Chiang Mai Thailand
 
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jmp470 View Post
Hello, I'm looking through your screen shots and on the second chart from the left, the order flow chart, what are the bars above the chart? Its Diagnostic XXXX

anyways, Happy trading, I hope all goes well for you.

They are unirenko/flexirenko bars. Apex Investing just rename existing free stuff and call it their own.

10 tick diagnostic is a 20-5-15 (I believe) on flexirenko on SC for example.

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Marcus Aurelius
"Not to assume it's impossible because you find it hard. But to recognize that if it's humanly possible, you can do it too"

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  #22 (permalink)
 
 
Posts: 2,976 since Jul 2012
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@dsulli6 - Any update on your progress?

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  #23 (permalink)
Legendary Pratik_4Clover
Mumbai, India
 
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kevinkdog View Post
@dsulli6 - Any update on your progress?

This is speculation only, but the account might have gone bonkers.

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  #24 (permalink)
 
 
Posts: 2,976 since Jul 2012
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LastDino View Post
This is speculation only, but the account might have gone bonkers.

Or he might be sipping his margarita on his private beach right now.

It would be nice to know either way.

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  #25 (permalink)
Legendary Price Action Scientist
Netherlands
 
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The easiest way to earn a 100k in trading is to start with a million.

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  #26 (permalink)
Legendary Pratik_4Clover
Mumbai, India
 
Experience: Beginner
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Pa Dax View Post
The easiest way to earn a 100k in trading is to start with a million.

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Time tested quote

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  #27 (permalink)
Toronto, Canada
 
 
Posts: 118 since May 2018
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Pa Dax View Post
The easiest way to earn a 100k in trading is to start with a million.

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10/10 made my day.

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  #28 (permalink)
Webinar Host
Indianoplace, IN
 
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The quote that transcends genres

Motorsports: "You know how to make a small fortune in racing, right? Start with a large one."

Both benefit from being well-capitalized lol.

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