Hey Guys, I just wanted to say Hi and that this is my first trading journal. I figure putting it out there to people will help keep me in check and grow my knowledge of trading. I am new to futures trading but have been studying for about 6 months and 5 months in the sim. I have just started trading live so here is the breakdown.
3500 starting capital. (this is as much as I could get together, without getting a loan.)
Markets: 6E, TF
Indicators: SMA 50,100,200 EMA 15, BB 2.0, floor pivots, stochastic 3,5,2 , MACD 5,20,30, CCI 14 with ESFXtrader's cci countdown indicator written by mWinfrey.
Trading plan 1.0
Before you start:
Check overnight market movement
Check long-term charts
Check for Economic news
General strategy: enter on k/d crosses and retraces along the 50sma when it's angling. use 2 timeframes to confirm signals. exit upon cci countdown or k/d cross in other direction.
Entry ideas:
5 max trades per day
Check ALL moving avgs and their angles.
Spot and draw Support and Resistance on charts
Check BB 2, touching edges of BB is signal for direction.
MACD Cross between k and D is strong signal of direction change. must be present on both timeframes.
Check Stochastics for cycle highs and lows, enter on peaks if short, valleys if long.
Look for Divergence on MACD and Stochastics in relation to price.
Count waves in MACD and price movement
Use CCI indicator with counter and signals to confirm movement in a certain direction. When countdown hits 5, recheck all indicators to see if price reversal is imminent.
Exit ideas:
Look for MACD Crosses
Check bollinger bands
Check CCI countdown indicator
Check the Stochastic crosses
look for peaks and valleys in CCI
I look forward to reporting in to you guys and getting some feedback. Thanks for looking!
Here are screenshots of what my charts look like. I also use a static superdom on another screen. I either trade the beginning of the London session for 6e or I trade TF and 6e during US hours.