Well I have realized that what I need to do in order to take trading to the next step is to start a journal here along with an excel log to track my statistics. This journal will help solidify my trading plan as well, I know what I like to trade but then I trade what I see and that usually screws me up. So there are lots of positions I like to play and most work well but I need to get everything in writing The last 3-4 months or so I have been out of the game which was a good and bad. I am refreshed and ready to go again.
Now for my trading. I will start filling this section out as I go and keep it updated on the current trade setups that I am using. I trade from the opening or a little before up until 10:30-11:00 when I have to go to my real job :whoo: I am currently only concentrating on crude oil but am starting to watch the ES as well so maybe some ES charts will slip in here as well.
This is probably one of my favorite trades, this is on the 5 minute chart but I am normally looking more on the 1 minute charts. I didn't trade Friday so this was all review that I did yesterday but it is an example of the setup. 3 separate moves down (i, ii, iii) with the buy are being in the green circle around the 10:50 area. 50 cent retrace off the 1 dollar move down, then broke that (along with 200ma and went for a full run of a dollar
My ATM strategy is setup like can be seen in the screenshot below. The 3rd target I split into a 3rd and 4th target. 4th target is a single contract at a full 100 ticks. Stop strategy is basically to go to BE -2 once the first target +1 tick has been achieved (usually means first target is filled). From there I handle the stops manually, usually once 2nd target is filled I will go BE or slightly in front of it.
I don't have a lot of time during the week so I hope to setup ninja to auto post my charts with notes here then I can review them as necessary/needed with more posts on the weekend.
Goals:
Find consistency
Become profitable on a consistent level
Pass a TST combine
Being that I am wanting to attempt and pass a combine I am using the 150k combine rules for my trading. I won't regurgitate them here. Main thing is I can only control risk. The profit will come if I control the risk properly.
I had found consistency for a short time and made an attempt at a TST combine and hit the drawdown limit. With those feelings in the background here I am doing what I need to do :becky:
Also want to add that I am a member of the Bontrade Trading Room. The charts I post are of my analysis that I trade by. Some is obviously the same and some is not.