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Started to paper trade this Monday before going live. I will be trading mostly ES and 6E; and on occasions the ZN. I have backtested my strategy with profitability.
My goals with paper trading is to build discipline, consistency, patience, feel and flow of the market, and a calm mind while trading.
ES
4HR Chart
Cloud: bullish
RSI: 40 trending down
Conclusion: high probability of price bouncing back up as it hits support of wide channel after RSI hits OS
15min Chart
Cloud: bearish
RSI: 34; trending down
Conclusion: look for price reversal to get in. Great entry point for upside.
3.19.18
-$100
-$50: Got taken out twice trying to go long.
+$462.5 As I noticed that price wasn't holding at the support of the TL; I saw an opportunity to short. Total Daily P/L: +$312.5
E6
Went short right after the nyse opening. I had gains of around $87 and just needed two more ticks for price to hit my buy limit but the price reversed quickly and I jumped out before it hit my stop loss.
-$12.5. As price seemed to go back down I went short again, as soon as I didnt feel it wasnt moving as planned I covered my short -$37.5
After that I stopped trading for the day.
I felt that my mental state was not the best, felt pretty exhausted from all the errands and work I did yesterday.
As price on the 15min chart was trending down after shortly testing a previous high (with RSI Over Bought), I decided to short. Price started to go in my direction but shortly reverse and stop me out -$75. As I noticed momentum and price wanting to test again the previous high one more time I decided to go long. on the 5min chart, there was a TK crossover with a cloud breakout. Price hit my sell limit: Gain +$243.75 Total P/L +$168.75
15MIN Chart:
Cloud: Bearish
RSI: 36; Over Sold
PA: Trending Down to Test Support
Price can go either way; bounce to the up side or have a break down at support; As I analysed the weekly and the daily chart I wouldnt be surprised if price breaks down below support.
Trade:
As price hit support, and traded a bit below support I shorted; got stopped out -$50 as price can back up into the channel, I waited a went in short again but I missed most of the run down before the nyse opening. I bought back my short with gains +$200
ES Total P/L: +150
One thing that helped me out and usually always does is get good rest, and before you start trading or doing any type of analysis or trading do a little workout to get your blood flowing.
Definitely, I going to start doing HIIT cardio training on Monday, at least 3-4 times a week in the early morning. Plus, I have been eating healthy which I feel a bit more energized
Yeah I've noticed a difference I also take some vitamins ginkgo bilbao and DAE really help with staying focused, they increase blood flow to the brain really made a difference also alternating between tea and expresso. Basic tea lemon ginger or tangerine, my coffee is a Colombian brand of Cuban coffee bustelo
