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My trading has been a rollercoaster and I do need to have consistency and accountability as I look to become a full-time day trader.
I have had to do a lot of work on myself to get to a point where I can commit to this including getting sober and getting a healthy lifestyle so I can have the mental edge necessary to be a discretionary day trader. I am excited to start this journal and hold myself accountable daily.
I will be trading Dow Jones Futures both MYM and YM Exclusively
I utilize a 2 Min Chart
I trade utilizing market internals Tick & ViX as well as a Donchian Channel (30) and RSI (2).
I do have 4 APEX Trading Accounts that I will be passing in April and 1 Topstep account that I will be passing in April
I will be Trading My account also
I will post charts daily with trades i took (P&L) as well the set-ups of the day to improve my trading
Looking forward to the Journey
Happy trading
These are what My charts will look like but annontated with notes as well my trades and P&L
Trading Summary
+ 37 Points
2 Contract Scale in
Market MYM & YM
Positives: I added to winners and followed my rules for not trading the morning session if I miss my morning workout.
Improvements: Struggled with trading focus which made me not want to get back in the market even though I was in tune with the price action.
Making sure my morning is structured will greatly enhance my ability to stay focused, I will have a morning routine posted and Evening routine posted this weekend.
I am a short-term discretionary Dow futures day trader.
I have been looking at ways to get my trading personality to match the way I interpret market information and place trades.
I have built out some parameters (tools) to help me make trading decisions.
2 Minute Price chart of the Dow & VIX: It operates as a simple confirmation directionally for me, it helps me make split decisions and also use logical stops and risk management based on volatility.
Tick Index w/ +800 & -800 also a 2 Min chart, this allows me to get a glimpse into market internals and to give me confirmation or divergence insight.
30 Period Donchian Channels as horizontal line that offer dynamic support and resistance as well as a mean, helps me with price location and framing trades
RSI 2: Is plotted as a price box on the left of my 2 Min Vix and 2 Min Dow chart just to see possible exhaustion or pullback entries when looking to enter trends or reversals.
Level 2 & DOM: Utilized for order entry as well as opportunistically adding to winning trades.
Time & Sales: Just to see the orders above 10 lots for Dow futures
I have established that the way I view markets needs to align with my personality type as a trader. Doing this work over the weekend allowed me to see my strong spots as a trader and also create a process of interpreting information that gives me the confidence to accept risk.
Vix4323
Trying not to trade on Mondays so nothing significant to report
However I am switching from the Dow to the S&P 500 ES this quarter so I can better utilize the VIX which I have posted with a 5 Min chart as well as my 2 Min ES and Tick charts
Just finished re-reading the Best Loser Wins GREAT BOOK BTW
It has convinced me to simplify my trading and analyze price action I have removed all indicators except 10 SMA (Gold Line)
I look forward to this next chapter of trading without indicators and focusing on price action and market internals VIX and TICK Index
Happy trading to all will continue posting journal entries of all trades everyday.
Let me know if I can make them more detailed or add any insight
Apr 5 ES
Green Arrows: Entries Long
Red Arrows: Stop loss/Short entries
One of my best trading psychology Days: I was stopped out on a long highlighted with ES breaking above 10 SMA and VIX Breaking below 10 SMA. The trade quickly broke down and I did not hesitate to cut the losing long trade and switch to short and also added a second contract which resulted in my largest winning trade of the day. I still am not holding my winning trades long enough however I am becoming more in tune with market action and able to admit when a trade is not working.
Added + 4 points to APEX evaluations
Added + 2 Points to Topstep Evaluations
Understanding the Risk metrics of my system better has allowed me to ad a execution chart of 1000 Tick chart to my ES trading
With the evaluations I am in Utilizing 6 Tick stops will keep me in the game longer and reduce my risk on my losing trades while keeping my winning trades same size or larger
5 Min ES/VIX/Tick Index
1000 Tick Chart
Indicators:
10 SMA
RSI 2
Feels good to be able to concisely define how I trade and what I trade!
Cheers everyone
Trade what others are not trading. Fascinating article I just read that points out by looking at other markets or indexes that the masses are not you may have more success as a trader. I am going to attempt this philosophy by trading the RTY Russell 2000 instead of the wildly popular ES S&P 500. Results will be in this in journal .
