Hello Traders!
This is my very first journal on Futures.io so here is a little back story on me. I have been a member of BMT forum for quite some and have been an on and off again futures trader I have blown up 2 small accounts over the last 5 years and have taken sabbaticals from futures trading a few times. I love dividend investing and options trading but I love the challenge of futures trading.
over the last few months I have been sim trading successfully and I am ready to attempt a Topstep trader combine.
I do not have the funds safely trade futures with my own money plus I love the accountability of trading with someone else watching over to make sure I am following rules that are designed to grow an account.
That's enough about me lets get into a little strategy and trading rules.
I am big believer in price action and the teachings of al brooks and PATSTrading with mack.
I basically make with trend pullbacks in ES and CL.
I am looking to take majority of the contracts off at a scalp of 4 ticks in the ES and 5 ticks in the CL then have runners from there with trailing stop 1 tick below previous bar to get majority of the larger swings.
one thing I am going to implement into my strategy due to the way I have traded in the past is I am going to to have a maximum trade of 2 trades a day BUT I will be allowed to have one trade for every winner I have.
I call it earn a trade. so if I have 2 losers to start the day that's it I am done but if there is a winner in there a winner in there then I get 3 trades and if that's a winner then I get a 4th trade and so on untiil I have a loser.
This system forces me to cherry pick and be careful not to overtrade and it also prevents me from revenge trading which I have had problems with in the past.
I am very excited to start this journal and hopefully pass my first combine. Starting one next week.
Any constructive criticism is welcome on my journal. That's why we are all here right?