Starting this journal to keep a record of my trades so that I have a place to go back to and see what I did and why I did it. I think it will help me grow as a trader and hopefully someone else may benefit too. I trade the ES, CL, 6E, and GC. Most trades will be in the ES and CL though, with an occasional one in the other markets.
Here is summary of how I approach the market.
1. I trade strictly using s/r levels that I find to be important and where I expect the market to make a turn.
2. I use mainly 5 min charts and I don't wait for confirmation. If the level should hold then I expect it to hold and put my order in before the market gets there.
3. I try and stay with the trend but if I see that the trend is mature I will go counter trend but 90% of the time its with the trend. If the market is trending up I expect support to hold and buy, and vice versa for a down market.
4. I use a 2 pt stop on the ES and I always scalp the first 1/2 at 1point and try and get 3-5 points on the other 1/2. For the CL I use a 15 tic stop and scalp the first 1/2 at 10 tics and try and get a minimum of 20 tics on the other 1/2.
5. I only use candles, volume, and one moving average on my charts. On CL I use a stochastics indicator.
I think that pretty much sums up the strategy. I am trying to keep it simple. If you would like to add anything or comment please feel free to do so, I take criticism as a means to become better and would appreciate any comments.
Note: Restarted posting On Nov 19, 2014, to start up the Journal again with different knowledge and from a different approach:
This is the first post.
"Wow it's been a while since I post here but I want to start up again and give it another go. This time I am going to attempt to use volume profile for the sr levels. I welcome any feedback since I am new to trading with volume profile. I did watch the videos available from ft71 and will be using what I learned.
I will be plotting the following lines on the nq chart: vpoc, o/n high and low,opening swing high and low, lvns from previous days, and vpoc from previous days when applicable.
My main purpose is to learn from those more experienced and of course from my experience as well."