I decided to share some YM trades here as I believe it helps to keep on the right track to consistent results. After some loses and long time struggle my day trading account fell under $1,500 I decided to do my trading as simple as possible. The only option was to switch to lower timeframe and make one trade per day. This approach provides enough space for long term surviving, enough opportunity to participate on intra-day market movements and finally turned my equity up. Ok, here is the plan:

1) after market opens, seek for prevailing market direction (momentum if you like)
2) enter on first valid signal (correction)
3) wait for the result, make a screenshot, add notes, shut the platform off

that's all

some tech stuff now
entry hours: 8.30 - 9.30 or after FOMC statement
stop: 14 ticks
target: 25 ticks
b/e+1: after reaching 15 ticks open profit
daily risk plan: $70 per contract
no. trades - 1 (b/e traded is not counted)
tools - S/R levels, other timeframes, EMAs
avoid trading at 'red' economic news

targets:
1) build up for adding more contracts while keeping 5% daily risk limit
2) keep doing 1 trade per day
3) make a weekly report

Started with 1 trade 8 Dec 14. Here are some trade stats and today's play. Without errors made equity would be slightly higher. Trade less make more

oh, it's a tough job when playing low timeframes, chances of getting slapped are so high...

Finished this week with a poor trade. First signal was actually valid as it was confirmed by double correction so quite good opportunity for SR breakout (or at least breakout failure)

Mon - OK
Tue - OK
Wed - rush into trade, took first correction even it looked poor and I actually hesitated
Thu - OK
Fri - missed opportunity then aggressive entry despite no valid signal presented

results: 2xPT, 3xSL

lessons learned, targets for next weeks:
- no need to rush into trade and trade immediately after market opens, rather wait for clean valid signal and obvious market direction
- monitor emotions after missed opportunity and write them down on the paper immediately

nice short trade today, it's sometimes difficult to take the trade after such move but considering momentum, no other option

This week markets were generous but also there was no significant mistake from trader's side Got new equity high.

Finished last trading week B/E +60. Missed first Friday signal which turned out to be a winner ..

last week score is -15 :-)

Mon - OK
Tue - OK
Wed - OK (2 trades)
Thu - OK
Fri - impulsive trading, trying to finish week profitable and got slapped

Moved to B/E earlier and then tried to re-enter but entry price was almost the same and price action was bit messy but managed to stop doing shit and did not exceed 5% daily risk limit

week 9 summary :-)

Mon - OK
Tue - first BE, second trade too close to SR (low potential) - SL
Wed - no trading
Thu - expected breakout pullback BPB but failed - short signal not confirmed but entered
Fri - OK

Despite some execution errors I am ok about that result since there is no 'profit gap' ... next valid signals were losers too ...

P/L -295