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I'm making this journal to keep myself accountable and committed to my trade plan. I've backtested my strategy on many instruments and it has proven itself profitable but when I add the emotional component of risking real money ... my eyes start watering We all know that it's one thing to have a profitable strategy and a whole different thing to be able to apply it.
My biggest flaws are being gunshy and than getting frustrated because of the missed opportunity and entering at the wrong place so in two words - lack of self-trust. I developed those issues because at first when I started using this strategy I was profitable but than I thought I was God and oh boy did I make some awful mistakes ...
I'm going to be trading only YM until I'm able to execute my trade plan properly. The strategy I'm using follows the intraday swings and basically has you expecting either a new structure high or a new structure low. I also use a couple of other tools to assess the strength and weakness of the moves.
I'll be posting a short video with my entries and trade management in the end of my trading session. If for whatever reason I don't make a video I'll be posting pictures with a brief description of what happened.
Backtesting was done manually with market replay, a lot of screen time and 1 year of historical data. On average I have 150 points per month on YM which is plenty IMO.
I didn't create a strategy. I have a written trade plan and it's meant to be used with some discretion. However I do think it's possible to make it fully automated but it would require a lot of skill and I don't have the funds at the moment to hire someone who can make it. To be honest I haven't done much research on this topic... if someone is willing to automate the process for free and than possibly use the system for himself than we might have a deal
depends on the complexity...
my experience with manual methods, is that most often, once you try to automate it
it either
1. is very difficult as zillions of rules (not always clear) pop-up
2. the system does not work automated, only in combination with the owner/creator of the system it works, but then magically some wrong setups are skipped for dark reasons
i have burned a few years of time on that road,
now i'm back on track, 100% automated, i have developed a complete set of tools that
can take the basic setup and with AI bring it to next profitable level
or deep learning, where you teach the computer the setup, the good and the bad
and let the model figure out, how to filter good from bad based on training
but if you system works for YOU, that is all that counts, the rest is conversation
Thank you for the information I'll definitely have to try to automate the process in the future because I think it's possible from what you're saying. It might not be with the same expectancy but still... if it's in the green than it's good.
However for the time being I want to focus on my performance. I'm determined to make it in this business. I started out with spot fx for three years and I lost around 10% of my capital. After reevaluating my trades I figured that one of my biggest obstacles was the spread because I was getting stopped out for a full loss or a break even when price hadn't even reached my stop(or at least that price level). So I decided to get away from this shady broker stuff and transferred to the futures market. For the last 1 year I've been trading and I'm still a breakeven trader (which is an improvement).
I'm feeling very confident in my analyzing skills but I have to handle my emotions better.
My first expectation for the day was a deep correction to a HL (higher low) and than a NSL (new structure low) however price made a shallow correction and a HL (lime green down arrow) where it tested the open and gave a rotation to the downside.
No entry because we are right against a demand zone (grey rectangle) and our expectation was for a deep correction not a shallow one.
Price went on to fulfill the expectation of a NSL than made a shallow correction followed by a weak NSL in to green demand area. At that point I was looking for a short but the strength of the bullish candles told a different story.
Price than continued on to produce two more NSHs (new structure high). From the beginning of the session price has been producing shallow corrections so I decided to take an aggressive long with the expectation of a NSH. We had confluence - 38.2% fib level, RTH open and structure (gray rectangle). I followed my rules to move my stop to break even + 2 points at break of structure but in most cases with aggressive entries on shallow corrections I got stopped out for +2 points. Profit target was at the 161.8 extension of the swing.
So far so good... I'm not a 100% sure if I didn't take that trade because of fear of missing out.
Most likely done for the day.
Decided to go with pictures instead of videos. Looks more convenient to me. Also after I make 5 posts I'll share a youtube playlist with the basic principals of the method I'm using if someone wants to watch.
My performance today was miserable. From the beginning of the session my expectation was for a new structure high. Price action gave me three opportunities to enter which were all according to my rules. I had predefined my areas of interest where I would enter if I saw bullish rotation candles and at the moment I got the rotations I talked my self out of the trades for some BS reason. If I had followed my rules I would of ended with 2 winners and one break even trade.
YM 233 tick chart: BE+2 points
Initial expectation today was for a NSL. Entered short when price gave a rotation at structure and moved my stop to BE+2 at the test of the NSL/demand zone according to rules.
No more entries according to my rules.
We all know that it's one thing to have a profitable strategy and a whole different thing to be able to apply it. 
