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Traded SIM after many months. Still having this runner on YM will get out at ES 2806 or 2810.
This is how I want to trade for one hour and have a runner left. What I realized was need size (Up to 7 contracts...I strongly don't suggest this as I am still experimenting in SIM) to reach daily target once you reached target you will have some wiggle room to leave a runner. I know it's not a pretty picture with many trades but as MLM says who cares bottom line is are you making money or not.
Thanks Ron! I am in the middle of job and location changes so not able to concentrate on trading but consistently in my mind though... Sometimes taking that long break definitely helps. I am seeing it, next step would be MICRO'S, just need to settle in then I will be back. Thanks for remembering me.
Wow! It's been FIVE years since I started this thread. I read my FIRST post and realized nothing CHANGED (of course, I am talking wrt trading) in my mindset except very FEW but IMPORTANT.
1. CONTEXT is still KING
2. Still trying to find falling knives but I am MINDFUL of that fact
3. PULLBACK trades are way better for your mind and body than REVERSIONS
4. ORDERFLOW/TAPE kind of helps to read CONTEXT when you are trying to ENTER or EXIT trade
5. Trading using SUPPLY and DEMAND
6. IT IS ALWAYS ABOUT LEVELS THAN WINNING
7. DON'T CHANGE METHODS
8. PRACTICE PRACTICE PRACTICE
If anyone wants to learn anything from my experience then it's those last THREE points...Unfortunately, I still do ignore my own suggestions, but a path to improvement is recognizing the problem.
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What happened ?
1. I started back to trading after long long break but my timing was impeccable...COVID hit the world, that changed the CONTEXT
2. Fortunately I started with SIM trading using Bookmap, but I really didn't understand what I was doing wrt to orderflow and Bookmap. I was adding contracts and removing contracts but somehow due to volatility I had winning DAYS, I doubled 50K account...I was top of the world because I was never able to do it even in SIM trading.
3. I started trading Micro ES (this is GOD gift for futures traders) and reality hit me, I always have impeccable timing of choosing wrong days to trade.
4. I discontinued using Bookmap but that curious monkey in me always want to understand WHY behind it so now I have Jigsaw DOM.
5. Again started on SIM doing very good
6. Started real trading with Micro ES and did good this week (knock on wood). I might pause trading until this election and volatility settles in.
Will try to post my SIM/REAL trades to track progress...
I will also summarize my method later, it's nothing new ...lot of good traders already mentioned it million times.