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I spend a lot of years, about five, for forex chart trading. Overall the result of this period was depressing and disappointing. Almost I done and finish with all this things, when I find on internet some DOM trading, order flow video, so I turn to futures market. I kicked out forex, and all charts too from my trading. Started a new beginning in my trading life.
I started with Jigsaw from 2017 to learn DOM trading, I watch some course too, like John Grady Basic, Intermediate and Live Trading Course. It was very helpful to start, but most of the time I just watching a pure DOM on my screen and from time to time talking to me more and more, I saw behind the curtain, what charts didn't show me.
I'm not was immediately a successful trader, but I enjoyed, and till now enjoy to watch price ladder.
Based on experience of the last 3 years: the course was good, but didn't replace the time invested, lot of time front of price ladder to find my own way in the market.
I would like to show my trading platform setup. I use Jigsaw Daytradr Standalone platform without any charts.
What is looks like this.
Volume Profile:
One what's showing the all current day from 5.00pm to 4.00pm (Chicago Time).
Other profile I setting for 3 sessions:
1, 5.00pm-1.59am.
2, 2.00am-7.19am
3, 7.20am-4.00pm
Reconstructed Tape
Between the ZB, ZN I put them.
All Tape is filtered.
U.S. Treasury Bond (ZB)
1, 1-10 trades
2, 11- over 100 trades highlighted
3, 100- everything highlighted (its in top)
10-Year T-Note (ZN)
1, 1-25 trades
2, 26- over 1000 trades highlighted
3, 1000- everything highlighted (its in top)
My main trading instrument is the U.S Treasury Bond (ZB), and sometimes Ultra U.S. Treasury Bond (UB), if I trade UB than I put close to ZN with a same settings.
Step by Step
I remember long ago I waited impatiently to arrive my deposit to broker account. And when arrived, than .....bang huge loss .
And I put a fresh deposit like a new beginning, and again ...... BANG, margin call
I learned from my mistakes. The market, the trading without patient just a suicide mission.
Its true it not a sprint its a marathon, this challenge only in this month, but my "challenge" will be not stop.
What's my steps in a next few days?
1, I show my trade statistics spreadsheet
2, The plan ( which will make challenge a challenge )
3, Trading (Start on 10th. Wednesday)
4, February Journal Challenge Review (sorry its just end of this month)
I choose something that makes the story around whole, like Topstep Trading Combine, its just a little bit different.
I don't want to name the company, because I respect Topstep who sponsor for this challenge, sorry guys.
Rules:
Profit target: $6000
Maximum contracts: 12 Daily loss limit: $2500
Maximum Drawdown: $3500
Maximum trading days: 28
My Rules:
Minimum daily average profit target: $500
Daily loss limit: $800
Maximum trading days: 12
As you see from the previous posts, I will use jigsaw platform without charts in all challenge trading period, I will not watching any charts, including preparation time too. Scalping.
My daily trading routine:
I will share my trades, and a trade review too. Trade review carries the key to success.
Interesting concept. I don't understand what your doing and it doesn't matter. I like it. And the reason is I use charts but simply because they give me easily defined risk/reward scenarios but I believe they have ZERO PREDICTIVE qualities. So I have to constantly remind myself not to get fooled into chart reading! Its a fools errand.
I would like to little bit show my statistics spreadsheet.
Long time ago I didn't like to keep daily my trade statistics, now I know its important. Important for myself, the numbers never lying.
I know Jigsaw Journalitix give a good opportunity to keep a stats without need to do anything, but I don't like it too much, because:
1, I like excel sheet, its looks how I like, calculate what I like
2, My trade statistics depends on ticks, not only currency, and I didn't find any webstat what is calculate on ticks.
This post absolutely cracked me up A nice chuckle for the day.
This is a skill I have interest in to see if can it be incorporated into my plan to improve results. It has moved down on my list because I see it taking a lot of hours to develop and agree with @Sandpaddict, I don't know what you are doing either, but have interest to learn it. We can chart all day long, but the most important aspect is - do active buyers or sellers join us once we have entered the trade, which is where the tape can be valuable at entry time.
I am looking forward to seeing your posts and the methodology.
Today I don't trade more. Unfortunately I don't have time for review my trades, so its will be come tomorrow. I recorded my trading activity always. I can learn a lot from that.
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