100 day challenge

I am going to ramp up my size from May to September for a period of 100 days.

I am lifting my max loss or gain/day to 2000 dollars. I will be trading only the US opening 2.5 hours. I am planning to follow a systematic process which includes screen recording of my analyis, bias and trade entries/exits. Hopefully this will reduce any unplanned and emotional trades. I will use tradervue to analysis my results and the main goal is to improve 'exit efficiency'.

I considered sharing my results daily, as I have been doing lately, but decided not to. Though I enjoy coming to this forum daily and learnt a lot, I think it's all about execution and focus now. I want minimal distraction for the next 4 months.

Hence, my journal will be quiet for a while but hopefully I will have some exciting results to share later this year.

Good luck for everyone.

June 2024 update.

I'm trading full time now and I will continue for another 2 months before returning to my day job again.

I was able to size up successfully and currently risking 1000 USD loss/day. I had a 'monster' win day of 6k early this week but generally aim for 1-2k/day. I moved up from micro to mini now. My holding period is slightly less to 1-4 hours and no longer holding till the 'End of the Day' unless it looks like a trend day.

I seem to have better success with DAX rather than ES. Perhaps it's because ES opens quite late @ my local time and it's hard to focus. Hence pushing up my size in DAX and conservative with ES. One big change since my last post here is that I NEVER add to a loser. I am also adding to my winner which is lot more consistent lately. I'm no longer focused on entry position and it's all about trade management and position sizing now. Thanks to Tom Hougaard who inspired me to think different from the 'normal' losing traders who constitute 95% of retail intelligent traders.

HumbleTrader 

June 2024 update. I'm trading full time now and I will continue for another 2 months before returning to my day job again. I was able to size up successfully and currently risking 1000 USD loss/day. I had a 'monster' win day of 6k early this week but generally aim for 1-2k/day. I moved up from micro to mini now. My holding period is slightly less to 1-4 hours and no longer holding till the 'End of the Day' unless it looks like a trend day. I seem to have better success with DAX rather than ES. Perhaps it's because ES opens quite late @ my local time and it's hard to focus. Hence pushing up my size in DAX and conservative with ES. One big change since my last post here is that I NEVER add to a loser. I am also adding to my winner which is lot more consistent lately. I'm no longer focused on entry position and it's all about trade management and position sizing now. Thanks to Tom Hougaard who inspired me to think different from the 'normal' losing traders who constitute 95% of retail intelligent traders.

Wow congratulations!!!! And yes never adding to a loser is a game changer

HumbleTrader 

June 2024 update. I'm trading full time now and I will continue for another 2 months before returning to my day job again. I was able to size up successfully and currently risking 1000 USD loss/day. I had a 'monster' win day of 6k early this week but generally aim for 1-2k/day. I moved up from micro to mini now. My holding period is slightly less to 1-4 hours and no longer holding till the 'End of the Day' unless it looks like a trend day. I seem to have better success with DAX rather than ES. Perhaps it's because ES opens quite late @ my local time and it's hard to focus. Hence pushing up my size in DAX and conservative with ES. One big change since my last post here is that I NEVER add to a loser. I am also adding to my winner which is lot more consistent lately. I'm no longer focused on entry position and it's all about trade management and position sizing now. Thanks to Tom Hougaard who inspired me to think different from the 'normal' losing traders who constitute 95% of retail intelligent traders.

Wow... great news. Looks forward to hearing how things go...stay humble (but brave) and all will be good.
Craig

My new avatar's trading style

This is how I trade these days. I executed my long bias reasonably well. My 1st attempt didn't work out. Breakeven exit. Second long was tentative and I took small profit as new low was made. However, it gave me confidence to bet again on bulls. I built my position from there and then dispersed it higher. You could argue that I should have started with shorts but my stats favored longs today, especially @ ATH.


MES


P.S. I did take some heat but I expected it based on my volume indicators. Low volume generally means locals adn retail playing and hence runaway trend down day was unlikely. Liquidity hunting is more likely. Note that I was NOT adding to my loser! That's a huge transition for me.

HumbleTrader 

My new avatar's trading style This is how I trade these days. I executed my long bias reasonably well. My 1st attempt didn't work out. Breakeven exit. Second long was tentative and I took small profit as new low was made. However, it gave me confidence to bet again on bulls. I built my position from there and then dispersed it higher. You could argue that I should have started with shorts but my stats favored longs today, especially @ ATH. MES P.S. I did take some heat but I expected it based on my volume indicators. Low volume generally means locals adn retail playing and hence runaway trend down day was unlikely. Liquidity hunting is more likely. Note that I was NOT adding to my loser! That's a huge transition for me.

I really like your chart set up! May have to use that type seems like it would help with emotion and just watching price

1 Minute Man 

I really like your chart set up! May have to use that type seems like it would help with emotion and just watching price

I do use indicators, I'm afraid. This is my post-mortem analysis naked chart to help me assess my entry exit points clearly.

I use volume based indicators quite extensively. However, I'm a single screen trader, and just a laptop is enough for my style.

HumbleTrader 

I do use indicators, I'm afraid. This is my post-mortem analysis naked chart to help me assess my entry exit points clearly. I use volume based indicators quite extensively. However, I'm a single screen trader, and just a laptop is enough for my style.

Nice yea I use tick and atr I just really like that simple look.

1 Minute Man 

Nice yea I use tick and atr I just really like that simple look.

Simple is good. There is definitely a tendency to lean towards simplicity as you trade longer.

I do think indicators are useful. After all they 'indicate'. The question is what do they indicate to ME?

As you probably know, there are only 2 pieces of raw information. Price & Volume. Everything else is a derivative. They both are 'Past' information and we use that to predict future price.

The only price indicator I use is EMA cloud to see where the trend is at. Ofcourse the naked price chart can tell you this but I conditioned my brain to trade certain ways in certain trend condition based on cloud colour. It's just visual learning and conditioning. The magic is in the neurons, not the indicator. TICK can also be useful once you become familiar but that's also a price based indicator, albiet a collective one.

Next is volume. My whole trading philosophy is built around this. In essence I look for volume & price discrepancy and try to align with 'big players' ideally before the price trends in their favor. I have attached my main trading screen. It'has indicators but yet simple, for me. It captures the information I want in a way my brain understands quick to enable me to pull the trigger. Hope it helps.



,

HumbleTrader 

Simple is good. There is definitely a tendency to lean towards simplicity as you trade longer. I do think indicators are useful. After all they 'indicate'. The question is what do they indicate to ME? As you probably know, there are only 2 pieces of raw information. Price & Volume. Everything else is a derivative. They both are 'Past' information and we use that to predict future price. The only price indicator I use is EMA cloud to see where the trend is at. Ofcourse the naked price chart can tell you this but I conditioned my brain to trade certain ways in certain trend condition based on cloud colour. It's just visual learning and conditioning. The magic is in the neurons, not the indicator. TICK can also be useful once you become familiar but that's also a price based indicator, albiet a collective one. Next is volume. My whole trading philosophy is built around this. In essence I look for volume & price discrepancy and try to align with 'big players' ideally before the price trends in their favor. I have attached my main trading screen. It'has indicators but yet simple, for me. It captures the information I want in a way my brain understands quick to enable me to pull the trigger. Hope it helps. ,

Very helpful, yes even your set up woth indicators is very simple easy to understand and I'm sure helps you see what you are looking for with easy of getting to a is this a trade yes or no conclusion