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I am from Europe. I currently work overseas in the middle east.
I see very few opportunities in Europe, and I am currently working to make trading my main source of income.
I enjoy discretionary trading, but my true goal is to take my trading experience and lessons, and apply them into development of fully automated systems.
After blowing a fair amount of money in a Live Account, I am currently working via Prop Accounts.
My Objectives
Short term, I have 1 Evaluation Account, and 1 Performance Account.
I am looking to take my first payout from the Performance Account and pass the EA so that I have 2 PA's.
I currently have no live Automated Systems, but I am working on a lot of ideas.
I hope to share some of my Automated Systems in this journal.
My long term goal is to have the confidence to be able to earn $5,000 per month from Daytrading either discretionary or automated.
I want to make futures trading my path back home to Europe.
I hope you enjoy the journal, and feel free to ask any questions, point out any mistakes or offer any advice to me along the way.
NinjaTrader is my main platform.
I do use Prop Accounts which enable me to trade from either NinjaTrader Desktop, Tradovate or TradingView.
Generally most of my work is done on NT8 Desktop.
My automated system development is handled by SharkIndicators tools - Bloodhound and Blackbird
My Trading Style
I generally trade levels on ES and GC.
Because I am not patient, I fill the gaps with some scalping on NQ and CL.
I look for ways to apply discretionary successful setup to automated systems.
My Chart Setup
You will see me using Zones formed from OHLC fron Daily, Weekly and Monthly. Limit Order Book levels for Scalp Entries.
Volume of course. Volume Profile, which is a weak area of mine but looking to develop.
And VWAP - I love a VWAP bounce trade.
Worked on an NQ 1 Min Scalping Strategy. Based on a 5 Bar Breakout.
Spent the evening backtesting a year of data on High Order Fill Tick setting in NinjaTrader.
Results were terrible!
I have noted a huge difference when backtesting standard versus high order fill Resolution.
In this case the standard one year had a Profit Factor of 2.00.
The high order fill Resolution backtest reduced that same strategy to profit factor 0.80
With the crazy momentum and relentless push higher, it was quite easy to come out profitable.
I would love to share the NinjaTrader Trade Performance statistics with you, but due to a NinjaTrader Bug, it is broken.
Balance = $53,158 PnL = +$16
End Balance = $53,174
Since I work in middle east, I essentially start trading after I have finished my full working day.
My office is toxic, and after not an unusual terrible day I arrived home in very poor headspace.
I had a made a conscious decision not to trade, but I really wanted to do some work and update my journal. I opened my battlestation.
I liked NQ for a long initially, based on the support it found fron the previous days overnight session.
I thought that would be the bottom and looked for an entry.
I hesitated at the first two pullbacks 17620 & 17640.
I took the trade long when VWAP didn't get rejected and I had planned to ride it up to the swing high at 17735.
Since I was in this poor headspace, the moment the trade went in my direction by 10 to 20t I pulled my stop in to above breakeven.
I was stopped out almost immediately, and I walked away from the battlestation before I lost money.
NQ eventually hit that 17735 level.
Happy I got out of the market unscathed, and that I recognised that I was not fit to trade and sized down.
There is room for improvement here though, because I should not of took any trades in that headspace.
Balance = $53,174 PnL = +$152
End Balance = $53,327
The advantage of trading the Apex Prop Accounts is the ability to use NinjaTrader, Tradovate Web and TradingView.
NinjaTrader is my preferred desktop application, and TradingView is my preferred mobile application.
My trades were done from the TradingView application yesterday.
I traded NQ and I definitely had bias which didnt serve me well.
I had 2 Scenarios that I felt were high probability and offered great Risk to Reward ratios.
1 - opening range low of 17600 was defined, the dip would be eaten up and would at least retest the previous swing high
2 - take out the 17600 to the downside, clean up all the stops, grab the liquidity and aggressively move up to the same previous swing high.
Trading 1 NQ contract due to being cautious about the 17600 swipe.
My relentless pursuit of buying the lows, being stubborn, not taking profits waiting for the big move.
Despite a number of trades going +$500,i never locked in any profits. I finished the day with a hard earned small gain.
