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Mike's new trading journal


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  #1 (permalink)
 Mik618 
Poteau, OK
 
Experience: Intermediate
Platform: ToS, IB
Broker: Rithmic
Trading: SPY/QQQ options/MES, MNQ
Posts: 39 since Feb 2022
Thanks Given: 34
Thanks Received: 30

Completed qualification on Leeloo Aspire account for prop trading with $25000 account. But that is misleading as they institute a trailing drawdown of $1500. Planning to just keep on trading as I did to secure the account. Moving Average Xover, double tops/double bottoms, don't assume I have to trade everyday, don't trade if there are extra stressors bugging me.

First day, Friday, I got to trade from home (normally still on day job). Jumped right in with E-mini and lost about $330. Switched to micros (MES) and had a gain on this instrument of $48, then $80 and back to $0 at close. So I managed to add to commissions, putting me further from my goal, and closer to losing new account.

Jumped on tonight at open, took momentum short, then impatient as I didn't let setup fully form, or they did form and I got stopped out. But I saw momentum to downside slowing, took a small position and caught big handles up to market open. Up $118.75-29.58 in fees for a net of 89.17. 60 orders in just over 2 hours, or a trade every 2 minutes. Overtrading. have to be more selective in taking trades. Was going to chart my trades, but just too dense. Sharing a snapshot of my ideal setup instead.

Though this account is supposed to be live, I did a test by putting on limit buy order at a price well below bid. Moved it down and back up, but totals for those prices did not reflect my removing/adding bid on my DOM. Using Rithmic Data and Rithmic Pro trading software.


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  #2 (permalink)
 Mik618 
Poteau, OK
 
Experience: Intermediate
Platform: ToS, IB
Broker: Rithmic
Trading: SPY/QQQ options/MES, MNQ
Posts: 39 since Feb 2022
Thanks Given: 34
Thanks Received: 30

Looking at $101.25 less commissions for MES trades on holiday open this evening. Got about 1/3 back from losses Friday. Jumped the gun again, didn't let strategy form up completely. Opened short when price closed below the 21 ema. Took a little heat but it paid, then I reversed and reversed again. then let it set up completely and got a couple more points on another short. Would have been better off just leaving a single micro short. from 3954 to double bottom at 3940.50


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  #3 (permalink)
 jmacc 
Philadelphia, Pennsylvania USA
 
Experience: None
Platform: NT8
Posts: 23 since Jan 2019
Thanks Given: 9
Thanks Received: 38



Mik618 View Post
Looking at $101.25 less commissions for MES trades on holiday open this evening. Got about 1/3 back from losses Friday. Jumped the gun again, didn't let strategy form up completely. Opened short when price closed below the 21 ema. Took a little heat but it paid, then I reversed and reversed again. then let it set up completely and got a couple more points on another short. Would have been better off just leaving a single micro short. from 3954 to double bottom at 3940.50

Hey coulda woulda shoulda! Looking forward to seeing how the strat works, i'll be following along .


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  #4 (permalink)
 Mik618 
Poteau, OK
 
Experience: Intermediate
Platform: ToS, IB
Broker: Rithmic
Trading: SPY/QQQ options/MES, MNQ
Posts: 39 since Feb 2022
Thanks Given: 34
Thanks Received: 30


Bombed out on LeeLoo. Funded a new micro account with AMP. Up 10% first day.


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Last Updated on November 1, 2022


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