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I have been at trading for some time now and have tried every short-cut even started a couple of journals on here. This will be my final attempt of becoming a successful day trader.
I have 1 trading rule.
1) Never Risk more than 1% on any day trade
All my trades will be on the Dow Futures /MYM & /YM
I use a 10 Second Chart/1 Minute/5 Minute Chart/1 Hour/ Daily chart TICK INDEX and TICKDJ INDEX are the only indicators
My starting Account Balance will be 1,214.46
I will use my starting month balance for my risk model, So my risk will be 10 points on /MYM (per Trade)
I will contribute $500 Dollars a month to my Trading balance. I attached a a 30 Year investment return at 12% starting with $1000 dollars and adding 500$ a month.
I will post account statements and my trades with journaling and images daily.
Trader Performance 2/15/2024
Total Net Profit: (-$18.75)/-15 Ticks
Gross Profit: $2.50/2 Ticks
Gross Loss: ($21.25)/-17 Ticks
Profit Factor: 0.12
Max Drawdown: -17 Ticks
Sharpe Ratio: -9.10
Sortino Ratio: -30.17
Ulcer Index: 0.00
Probability: 93.97
Total # of Trades: 9
Percent Profitable: 22.22%
# of winning trades: 2
# of losing trades:3
# of even trades :4
Avg Trade: -2 Ticks
Avg Winning Trade:1 Tick
Avg Losing Trade: -6 Ticks
Ratio Avg. win/avg loss: 0.18
Max Consecutive Winners: 3
Max Consecutive Losers:2
Largest Winning Trade: 1 Tick
Largest Losing Trade: 8 Tick
Avg # of trades per day: 13.04
Avg Time in Market: 1.96 Min
Profit Per Month: -458 Ticks
Max Time to recover: 0.11 Days
Longest Flat Period: 31.40 Min
Avg MAE: 3 TICKS
Avg MFE: 5 TICKS
Avg ETD: 7 TICKS
Todays trading was choppy mainly due to my need to get my stop to breakeven as soon as possible, this is due to fear of loss. To correct this behavior I will no longer us breakeven stop method and Just allow trades to play out in full, where they either reach a profit objective that I have set(based off of market make-up and R multiples or I am stopped out).
This will create consistency with my losses and contribute to a much more accurate end of day profit factor as well as build a longer-term public track record of risk being fully accepted on a per-trade basis. Which will make me a much better trader.
Daily improvement is the objective of this journal and my trading while never risking more than 1% from my starting watermark of the month. 2/15/2024 was my first day using my watermark for February. ES Feb 15
Daily Statement for Feb 15, commissions and fee structure included, Second photo is the 12% compound gains of starting with 1000$ and investing 500$ a month into a stock index (SPY) That is my performance benchmark to see how many years I am able to catch each quarter Daily Statement Feb 15
Trader Performance 2/16/2024
Total Net Profit: (+$22.50)/+18 Ticks Ticks
Gross Profit: $22.50/18 Ticks
Gross Loss: ($0)/-0Ticks
Profit Factor: 99.00
Max Drawdown: -0 Ticks
Sharpe Ratio: +9.32
Sortino Ratio: 1.00
Ulcer Index: 0.00
Probability: 3.95%
Total # of Trades: 3
Percent Profitable: 66.67%
# of winning trades: 2
# of losing trades:0
# of even trades :1
Avg Trade: +6 Ticks
Avg Winning Trade:+9 Tick
Avg Losing Trade: -0 Ticks
Ratio Avg. win/avg loss: 9.00
Max Consecutive Winners: 3
Max Consecutive Losers:0
Largest Winning Trade: 10 Tick
Largest Losing Trade: 0 Tick
Avg # of trades per day: 4.35
Avg Time in Market: 2.10 Min
Profit Per Month: +549 Ticks
Max Time to recover: 0.00 Days
Longest Flat Period: 23.21 Min
Avg MAE: 3 TICKS
Avg MFE: 10 TICKS
Avg ETD: 4 TICKS
All in all today was average trading. The importance of letting my winners run is becoming increasingly evident. I am doing a good job of sticking to my 1% Rule and it has simplified my trading greatly. All my trading comes down too is do not risk more than 1% on any trade ever. It is forcing me to be more disciplined and to be a student of the market which I am coming to enjoy greatly. Feb 16 ES Trading 15 Second
