Have closed my FXCM account. Decided to focus on order flow and put aside forex trading for now.
Have opened up an account with Tradovate 1 week ago. The reason for this was to get the commissions down. Have joined a membership plan which will see reduced commissions for higher volume.
So far have traded 2 days only. For the next few weeks I will just trade a position size of 1 lot of FESX until I get the hang of the new setup. Am using jigsaw plug in but the TV platform doesn't fully integrate it (eg doesn't support jigsaw brackets) unless we use the standalone daytradr version in which case we would get charged with an additional data feed cost and an additional routing cost which kind of defeats the purpose of the lower commissions.
The first 2 day's results (in ticks/lot and with 1 lot) are:
Day 1: -3, 1,-3 (3 trades, net profit=-5)
Day 2: -2, 2 (2 trades, net profit= 0)
For each day I traded only 30 minutes as I am busy with work for the time being. After trading 30 minutes I reviewed my trades and tried to look very hard and see what I did right/wrong and could it have been better. Have recorded them on video so I was able to watch and replay the videos many times and after the fact I was able to see a few things that either I did wrong or could have done better. I gave myself a performance score of 4/10 for Day 1, and 7/10 for Day 2. Clearly the post-trading performance review had some benefit for me. The score was not based on the profit (which is something that I can't necessarily control), but rather on the mistakes or anti-mistakes that I made on each trade, and on what I failed to see or managed to see in each case.
I am in the process now of trying to add in some fade trades to my OF repertoire and even some low profit trades (risk 3 ticks, take 1 tick). Previously I was just a breakout trader. The first fade trade I attempted was on Day 2, trade #2 and I did manage that really well. 2 ticks does not sound like much but that was all that the trade was good for.
If anyone is interested in seeing the vidoes just yell out and I can post some.