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This trading journal is to help me hold myself accountable and also share my experience and seek other contributions to aid my quest of getting funding from OneUp.
I registered for a $50,000 evaluation with OneUp Trader. I have my trader's profile, trading platform, data feed, etc all set up. I have place my first trades and completed my first day. Everything seems to be working fine so far.
Note: I am not in anyway affiliated with OneUp Trader. I have no agenda here, other than to share my experience.
I am actually a FDXM trader, but OneUp won't allow me to use that product on their program, so as my [momentum-based] trading strategy also works on DOW and S&P, I am choosing the YM and ES contracts for the evaluation.
I have traded as an enthusiast for nearly 10 years now, but professionally for around 4 years, with varying success. My first two years doing it full-time were up and down and volatile. My third year I started to really understand my psychology and statistics and now I am comfortable with my small edge.
I will continue adding to this, but I have made the start.
Pretty early days, but I am using NinjaTrader8 with this evaluation. I think I will switch it back over to Sierra Charts if/when I pass evaluation, I am much more comfortable over on SC.
So I am trading single contracts on YM at the moment, and I have some pretty specific criteria that I look for in the trades.
Strategy is basically a momentum strategy during the higher volume periods of the day.
I typically risk up to 50 points max on the initial SL ($250 max risk) and then trail the SL it as it gets into profit according to my strategy. Most trades are much lower than a 50 point SL. If the trade requires more than 50 points, I walk away.
The TP is normally set at 4x SL, so it's 4:1 by default.
However, I often close trades out early because not every trade catches the momentum I want.
So on average I get around 2R with a 44% hit rate, which is offering me enough of a statistical edge to profit from. The hit rate is ignoring breakeven trades, (so it's just winners / losers)
I've already ruined my evaluation. I made an error and kept a contract open beyond the permitted time.
So I have assumed that this would invalidate my account evaluation and I have decided to 'reset' and go again.
A silly error.
Regarding the strategy, it is momentum-based strategy using a few technical indicators and vwap. It provides me with signals and I take the ones that fit my bias for that session.
