So I have spent a year working on learning mean and methods for trading CL and ES. After a year and evaluating many methods, I have chosen to CL as my primary market and will be using a cobination of TPO/VP/vwap analysis to develop my trading cababilties. Much thanks goes to futures.io (formerly BMT) and Privatebanker and GreenR for sharing their work with this forum.
This is my first journal and I have chosen to work with CL instead of ES since it offers the most opportunity and I can trade prior to my fulltime job. The intent of this journal is to keep a record of becoming a competent traders an making my analysis skills more instinctual.
Just a couple of quick rules I need to write down for my own benefit:
1. Homework must be done either the night before or an hour prior to opening.
2. Adjustments will be made 15 minutes prior to open based on overnight action.
3. No trades will be taken after 11:30am EST.
4. No trading will occur if homework is not completed.
5. In 1-timeframe/trending conditions, no countertrend positions will be taken.
6. I will be sim trading 3 contracts and keeping stats.
7. No positions will be held over night.
8. 3 Consecutive losing trades is a stop to trading to determine the analysis issue.
Goals:
1. Become proficient at determining value using MP/VP and VWAP structures.
2. Learn how to read absorption at key levels TPO/VP profiles.
3. Become proficient at risk management.
4. To become proficient enough to trade full time.
5. I will not trade real money until I have reach 40pts in cumulive profit.
Timeline:
1. IF after 3 months, I am unable to reach 10pts cum profilt results goals will be re-evaluated.
I decided to make this journal today so I will not trade. Test screenshots will be posted instead.
Will be using TOS and NT for interfaces.