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* Keep a journal of trades using simple trend-following mechanical day trading system
* Determine if such a simple system has a positive expectancy
Methodology:
* When trend is well-defined on 2 timeframes and in the same direction, enter market using trade setup on lower timeframe.
* R:R ratio for trade on lower timeframe must be 2:1 or higher
* Entry price and stop price are determined by market structure and EW methodology.
* When ATR trailing stop reaches entry point, trail using ATR stop.
* Follow US E-minis, FDAX, FESX, 6B, 6C, 6E during US market hours.
Risk/Position sizing:
* Maximum risk per trade = 1% of $40,000 account = $400
* # contracts = FLOOR(400 / [ABS(entry price - stop price) * pointvalue])
Trade Record Format:
* Date Contract CST_Entry_Time Direction #_Contracts $_Risk P/L