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I gave it a thought and decided to go with Helios so I don't have to pay any fee for now. It's a perfectly plan for me because it gives me time to hone my craft and building up capital so I can use more leverages later. That said, I'm not going to withdraw any money until I accumulate at least $5000 of profits.
Right now, I'm still waiting for my account to get setup.
It seems to take forever for Helios to setup my account. Three business days just to go through my paper work and two business days so far JUST to configure my LiveSim account. Still waiting..........
Well, my funded account is setup and I put in two profitable trades for few hundred bucks so far. I don't plan to update this journal everyday because I need to take a nap right after market close/go out for a walk with my spouse to enjoy the evenings.
Besides, since market tends to make big moves overnight while I'm sleeping, I'll have to wake up to trade during those nights when alert sound gets triggered. That means I'll often take naps during day time. It's unhealthy, but I guess I don't have another choice unless I can run programs to trade.
It's long weekend and Futures market barely moves tonight. So, I decided to take a quick glance at Trade Performance report since day #1 of doing E2T combine until now.
78 trades in total with 9 losing trades and equity curve reached a new all-time high. I'm convinced that if I continue to stick to my strategies while following strict rules, I'll make consistent profits in trading.
While I'm accumulating profits slowly for the last few days, I've become more confidence to trade my strategies and I'd like to share my thoughts to those who are curious about how I create a strategy
Imo, a good strategy must consist of three simple steps or 3Ss.
1st S: safe zone or another phrase, trade in the zone. This process consumes a big chunk of time (at least few years to over a decade of hard work without a successful mentor) because one has to figure out how to configure his charts in an effective way without making things complicated. Once configuration process is done, next step is to spend as much time as one can to observe PAs to find repeating patterns daily (aglos reacting to these patterns.) These patterns have nothing to do with patterns like double bottom/top, head and shoulders, wedges, triangles or diamonds. One also needs to find out how these patterns react to up/down trend and sideways. By these trends, I mean big picture like daily trend, not small time frames like 5, 15 or 30 minutes. This is the reason why it consumes so much time to build, test and improve a setup to see how it performs in different market conditions.
2nd S: sweet spot. This process is very important for scalpers or day traders. One has to master his entry/exit methods to the point where he can immediately recognize that he must enter before it's too late or cut lost when PAs going sideways instead (no algos reaction.) I've seen for so many times when a look alike setup about to get triggered, but turned out to be a fake one because entry methods didn't confirm.
3rd S: size of strategy. This is the last step to distinguish your setups from a small one (for scalping) or a home run one (for day trading.)
