Dow Futures Trading Plan

1. Chart Setup:**
   -Time Frame: 1-minute chart
   - Indicators:
     - 50 EMA (Exponential Moving Average)
     - RSI 2 (Relative Strength Index with a period of 2), with overbought level at 95 and oversold level at 5
     - TICK Index, with significant levels at +300 and -300

2. Entry Criteria:

   Long Entry:
   - Trend Confirmation:Price is above the 50 EMA.
   - Oversold Condition: RSI 2 is below 5.
   - TICK Confirmation:TICK index is below -300, indicating market extremes.
   - Entry Point:Enter a long position when all conditions are met, confirming a potential reversal from an oversold condition in an overall uptrend.

   Short Entry:
   - Trend Confirmation:Price is below the 50 EMA.
   - Overbought Condition: RSI 2 is above 95.
   - TICK Confirmation: TICK index is above +300, indicating market extremes.
   - Entry Point:
Enter a short position when all conditions are met, confirming a potential reversal from an overbought condition in an overall downtrend.

3. Exit Criteria:

   *
Profit Targets:
   - Use a fixed profit target or a trailing stop based on ATR (Average True Range) to lock in profits as the price moves in your favor.

   Stop Loss:
   - Place a stop loss below/above the recent swing low/high or use a percentage-based stop loss to manage risk.
   - Alternatively, use ATR to set a dynamic stop loss based on market volatility.

4. Risk Management:
   - Position Sizingetermine the position size based on the size of your trading account and risk tolerance, ensuring that you do not risk more than 1-2% of your account on a single trade.
   - Maximum Risk: Consider the maximum risk per trade, such as 40 ticks, to ensure you manage your downside effectively.

5. Trade Management:
   - Monitor Trade:Continuously monitor the trade to ensure the conditions remain favorable.
   - Adjust Stops: Move stop losses to break even or trail them to lock in profits as the trade moves in your favor.

6. Review and Adjust:
   - Review Trades:Regularly review your trades to identify patterns, mistakes, and areas for improvement.
   - Adjust Plan:Make adjustments to the trading plan as needed based on performance and changing market conditions.

Summary

This trading plan focuses on aligning with the trend indicated by the 50 EMA, while using the RSI 2 to identify overbought and oversold conditions, and the TICK index to confirm extreme market conditions. Proper risk management and trade monitoring are essential to ensure successful implementation.

Nailed down a trading plan. Just to have something written down that I can reflect on and follow.

First Dow Trade of the Day
Long at 40696
Stop 40676
Target 40756

This trad actually worked out I decided to place a trade and then walk away
really trying to get out of active trade management
Dow Trade 1

Took some time off and started some other journals but I am realizing that it's me. So will be back just live journaling here my nasdaq trading and livestreaming my trading. 1 Minute chart no indicators and price action!