I'm Starting this Journal to Share this Journey of Becoming a Funded Trader
I started trading in 2021 mainly trading Nasdaq Cfds.
I have Perfected the Details of my Trading Edge for the Last two Years trading it on a Small Account and now will look to Trade and Gain Access to More Capital
-------------------------
Main Instrument
$NQ Cfds
----------------------
Hours of the Day
8:00EST to 12:30 EST
-------------------------
Methodology : HTF's S/R Flip +S/D Zones + Fibonacci Volume profile to Filter areas and Read the Structure of Price action
------------------------
Execution:
on LTF's 2000 Volume Chart with Hiken Ashi
5 Minute chart on Clean Structure
------------------------
Risk Management :
-Keeping Size Consistent with No Change
Not losing more than 3% on a day with 1 % risk on Each Trade. 3 Shots a Day.
Will be Posting All Fills from My Platform (Sierra+MT4)
-----------------------
Psychology:
- Develop Discipline in other areas of life (Eating-Exercising-Journaling)
- Meditation and Visualization every morning and before the Market Open
- Avoid trading on Tilt (Revenge Trading)
- Prep and Review After Every Session
- Not Exceeding the Daily loss limit of -3%
-------------------------
Accountability:
- Post All Trades and Fills by the End of the Day By the Market Close. Fills on(Sierra+MT4)
- Post Trade Plan +Execution Review
- Post When Things Go Wrong and Committing Psychological Errors
-----------------------------
Plan for Funding:
- Start with 10K$
- Proceed to 100K$
- Proceed to 200K$
- Proceed to 400$K
- Proceed to 800k$
- Proceed to 1M$
----------------------------------
Finally, Let me End with This Quote from lao tzu
Mastering Others is Strength
But Mastering Your Self is True Power
-----------------------------------------
The following 3 users say Thank You to WallSt Speculator for this post:
Plan For today's Trading in Nasdaq100 OVN Pivot was Prior Low Risistnace on a break +Retest but failed to hold the offer and Move lower
And Broke higher during London
Is each step on your Plan of Funding another funded account or are you planning on growing the capital that way?
And a bit off-topic: the quote you ended with is from Lao Tzu and his book "Tao Te Ching". The guy from The Art of War is Sun Tzu. I started the Tao Te Ching today, that is why I noticed it.
The following user says Thank You to Dmonz for this post:
Thank you for the Encouragement Really appreciate it !
yes, I trade CFD's Mainly since most Futures Brokers Do not Support my Country of Origin so I use the CFD's Market to trade.. Nasdaq CFDs have a decent daily Volume with FXCM on Sierra
I did some comparison with NQ-CME for Vwap Calculation and Voulme profile and they are almost identical.
and Also thanks for pointing this out .. gotta be honest i saw the quote on Twitter and i liked it and so I quoted it without really searching for the source.
didn't do much search into it !
a bit of a frustrating start for the Week but it is not the End
Contextually the market gapped up on the open after the pre-market spike so the trade for me was to be long on pullbacks from the recent demand pre spike move and had a target of the Prior Day's high.
being Blinded by the Gap Situation I still sat on the bid even though my target area of interest got tagged and followed by rejection on 12150..but I still went with Gap and Go situation and Tried to Bid Pullbacks on Retest to prior Highs
trade 1) Long of prior highs + OVN H retest+ RTH Vwap = Stop at -1%
Trade 2) Rejection on FS.Vwap + Spike Base on the OVN +Session Mid LVN = Stop -1%
Trade 3) Vwap Retest from Below after Failing to hold a Bid = Stop (0.5)%
Trade 4 ) Reclaim of VWAP With recent Demand Zone Retest +1.5RMFE but was a bit Tilted and didn't Secure anything so I ended up puking at BE. (management Error)
after that Sequence of Events I Really lost my Objectivity and Thought that is it, took a Break and Came back to see the area that was executing on was the middle of the recent balance area at Vpoc which is probably why PA Was choppy most of the session
.
.
From a Risk management standpoint, I did the right thing by not violating my 3% daily risk Rule. the Account Overall drawdown is 12% so being 2.5% down still gives me 9.5% shots to bet if I Remain objective and execute a Favorable R: R Setup.
.
The following user says Thank You to WallSt Speculator for this post:
Still looking to trade to the Upside if the price Remains Above the Weekly Close + Composite LVN At 12000/12025
.
On Friday Bulls Held YTD Vwap on a Retest with 50 DMA .+ Historic LVN at 11900 so Unless the Market Structure on the Hourly and 4 Hours is Broken and leave the Current Balance with Volume Acceptance Lower.. I will still look to Bid Pullbacks...
The following user says Thank You to WallSt Speculator for this post:
after the Close of Yesterday, I Saw one of my Good Setups Showing Potential For another Leg using Measured moves of Fibs to go Down All the Way Down to my Unretested area at 12025/12000 before Resuming the Up move
so I stayed for Globex to trade this Setup
Trade Executed at 61.8% Fib of the Afternoon Impulse leg down that Created a New Low.
Stop Was above the High and Target was at my pre-planned area to long at 12000/12025
Trade hit TP at +2.1% R on limits with one runner left as i woke up i saw that during London the Target hit and as the price reclaimed RTH Low i closed the rest..
now as the Market Rejected I'm kinda Feeling like I missed not playing both sides and placing a limit long too near 12025 but I wasn't expecting to have those two wild Swings Just in OVN Session so it is what it is and boy what a Massive Run
With the Current impulse UP plan for me today is still with the Bullish Bias will look to jump on Board if I get a good Retracement that allows me to Define Structural Risk
Account now at - 0.5% one Win Made up for 2 L's R:R is Such a Magic
