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Hello xevanchan,
let me give you some hints. Sorry for my bad english.
Trading must be simple like driving a car. Intuitive and "easy".
I'm trading 2 ES contracts on my $30k AMP Futures account since 4 years now.
1. Choose only one simple setup for example support/resist. This is the only setup that will always work.
Remove every indicator from the chart. Switch to bar chart.
Check the day chart and draw a line for each support and resistence which you see.
Switch to 60 Minute and identify again support and resistance.
Switch to 15 Minute and identify again support and resistance.
Use 5 or 3 Minute chart and 5000 Volume chart to find optimal entry. You will see the entrys for sure.
In a trend buy each support, in a sidway market buy low sell high (at support/resist).
Trade only one setup for at least 66 days. Focus on only one setup. No back and forth no quick changes. Trade only one setup.
Go back one hundert days and check the win rate of your setup by manually identifying your signal by reading the chart for at least 500 trades. Only then you will trust your setup.
Trade one setup and take each identified signal (which matches your predefined rules).
2. At day end check each trade and find out what was wrong and adapt for the future but stick to your only one setup.
After a few weeks you will see.
SL must be greated then the (5) ATR on 5/3 minutes chart.
I'm mostly using 4 point stop and 8 points target (trailing).
I always trade only 2 ES contracts. Means my maximum loss per trade is always the same.
Your winners must be greater than your losers.
I would recomend VWAP Indicator and 300 EMA if you want.
I have the best Mentor (30 years of trading).
After you become a master trader in your one setup then and only then add a second setup or double the contract size.
I'm also trading FDAX and FESX with same setup. Plus two more setups.
Each month end I withdrawing everything over $30k. It's more then I need.
Means each month I'm starting again with $30k. This is my way.
Wondering why you are you going for home run, specially only after 1 year?
IMO this is a marathon not a sprint. I personally go for smaller profits every day, and never aim for a home run, as home run means big risk -- cannot have one without the other Small profits do add up.
In that case - you're just getting started. You have a lot of homework to do if you want to succeed in this and I think you've received good advice from me and others.
Stop trading. Start studying.
Live trading (simulator or with money) is a waste of time if you haven't done the necessary testing and homework first. You can backtest/backcheck 100 days in 5 days. Comparatively speaking.
Simulator/live trading (one lot) is for checking and testing your methodology after it's developed. And usually that means finding flaws/errrors and going back to the drawing board.
This is a long, long journey and a lonely one also. Not only that - but you have no guarantee of making it. The harsh truth is that you most likely won't. But you can at least avoid losing money if you do what I'm telling you.
My experience and many other traders that I know is that markets have changed a lot in the past couple years and have become more difficult to trade. My self I have stopped trading for a little while and have started investing for the longer term to ride out the bumps. I can see you are using hekin ashi and day trading. Day trading is hard enough but you have severely handicapped yourself by using heikin ashi candles. You need to lookup the math behind them. They hide a lot of chart price patterns and induce a bit of lag. Maybe step back a bit a paper trade for a little bit it will remove emotion from the trade and let you test out how your strategy is working.
Yes using the same setup for FDAX/FESX. And two other setups.
Well its private but its much more then I need and this is the only important thing. More money doesn't mean more freedom for me :-)
I entirely agree with the above statement - Order Flow is the essential part of a day trader and must be incorporated into your routine. However, the MOST important thing in getting consistent is to simplify your process by stripping down all unnecessary strategies and indicators you using until you find 1-2 REALIABLE setups that you can easily recognize on the chart and trade these setups ONLY. Making this process simple will allow you to gain the most important commodity - confidence.
Trading is combination of many factors, you must see the "big picture" (larger time frames) before you even consider making a trade. This is called "Reading Market Context". Understanding what market have done, what is it trying to do and how good of job it is doing in getting where you think it trying to go is essential. This will help you to pick the path of least resistance and trade in that direction ONLY. Once you understand how to read the context of the market you will need to learn how to identify the zones of potential trades (volume areas, pivot high / lows and prior day high / lows. This will help you to narrow the areas where the trades should be CONSIDERED. Only THEN you will need to start looking for the trades (i.e. setups that you are comfortable with) and pull the trigger by using the Order Flow as confirmation. Another words, you DO NOT want to "play in traffic" by taking a long trade when you see bunch of sellers entering the real-time tape which is clearly shown by Order Flow.
All I have described above is just a road path that will help you get a system in place (the FRAMEWORK). Make your process RULE BASED. By implementing this approach you will stop guessing where the trend starts and stops, you will simple trade WHAT YOU SEE. There are many tools available to accomplish this and every trader has his favorite. The concept is the same.
The important technical part of this technical process is to find the proper chart format (Hiken Ashi, Candles, Bar Reversals, Range Bars, etc. etc.) and adjusting the chart to proper time frame according to market volatility so you can read your signals clearly. You may need to adjust these parameters as market volatility changes. This will help you to avoid being whipsaw and taken out on your stops too much. Usually, these tweaks are quite simple but the results are amazing. Once you will find the right chart format to trade from you will feel like the blindfold was taken out from your eyes.