Ok so I think I have read enough journals and I am ready to start my own. I am currently in week two of the 150k OneUp Trader combine and I have ended the first week $3,265.00 in profit. I picked the 150k combine because I liked the daily
drawdown and
daily loss limit that is available to me after I get funded.
My trading during the combine is slightly different than what my trading will be once I am funded. As restrictive as the combine rules are they really fit my trading style because I am a conservative trader. I am playing the long game. I do not
scalp or take more than a few trades per day. I have an
ATM strategy set up in
Ninja Trader that I use exclusively. I don't really use sell/buy signals other than my own visual verification.
1. I trade ES only and my summer targets are 16 ticks/4
points using 4
contracts only. That nets me about $800 per day before commissions. My stop loss is the same. I NEVER move my stop even though I may cut a trade before it gets to the stop.
2. Since I am intraday trading I only look at the US market
overnight high and low and no more than 3 days prior for other highs and lows based on
price action.
3. I don't really use buy/sell signals or RSI (I may add this later) or MACD trends. I do have volume and session
volume profile bars just to see what price point has the most activity in general and if that price is a price where contracts were mostly sold or bought.
4. I mainly trade the US open from 9:30am - 11:am. If I don't see good price action and direction I will typically wait until 12-2 PM and look again or I call it a day.
5. I only look at 4 time frames. Daily, 10 minute, 20 minute, and 30 minute.
6. I enter all my trades on the 20 minute chart.
7. I am generally looking for timeframe continuum on all those charts. So if the 10, 20 and 30 minute charts are moving in the same direction and the bar is "pumping" I will enter the trade.
8. I rarely enter exactly at the open but usually I am in a trade within the first 5 minutes of the opening. But ONLY if all the timeframes are agreeing.
9. Again I am only looking to get 4 points on 4 contracts. If I am wrong and get stopped out I don't
reverse right away. I will increase the contracts to 8 to try to get my money back and reach my daily goal.
10. If I am wrong AGAIN I stop trading for at least an hour or sometimes for the rest of the day.
11. Having a day job helps because if I haven't entered a trade by 11am I usually have to stop anyway and start working.
12. I will continue this way of trading for the OneUp combine then adjust it once I am funded due to the
scaling target requirements.
I think that's it for now. If anyone is reading this let me know what information or
screenshots you would like to see. My Ninja charts are extremely bare and not that interesting but I will still include a
screen shot for my initial post.
I am not sure if I will posting daily or weekly but I will try my best to keep in consistent.