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My trading journey have been a long one. And having finally reached success I want to see how I would trade using a beginners account size with what I know now. As a challenge I will be using a starter 3k account with Dorman via Ninjatrader and their day trading margins.
Woke up early for baby duties, she always wake up around 5am so i'm used to waking up before 4. NQ seemed to be in a channel so I scalped it here and there inbetween taking care of the little one.
Had a CL trade too and was bummed when it dropped 40 ticks all of a sudden and i only took 10, oh well.
US index, bias - Neutral to slightly bearish. Looking for short setups as long as ES remain under 60 (cautious if between 60-63) and NQ under 91.
Volume is still pretty low in this summer session - Expected range for RTH session on ES is roughly 11 points today. So maybe 60-49 range play.
Bonds had a bullish signal since yesterday will might drag down the financial market. Keep an eye on that, if XLF is down ES is likely to go down as well.
CL keeping an eye to short around 67.49, 67.80-90 areas.
One of the problem facing small accounts is everything must be closed before full margin kicks in, which gives added pressure to be on the right trades by days end. Today was specially frustrating as Market makers played their game all day and only let it go at the end.
-Lot of scalps that just didn't end up going anywhere.
Index in a distribution phase. Might see a bloody friday tomorrow.
Overall, a bit over $300 for the day after all the commissions
Bloodbath friday. Had to run some errands today so only had a few hours in the morning and an hour before closing.
Context was continuation down so highest probability trades were to the downside. NQ is a beast though and like to thrash around a lot, tough to trade with a small stop on these days so I took whatever it was willing to give me. Lot of scalps that went and came back to hit my trailing stop.
I mainly used the new orderflow software from ninjatrader today which is awesome BTW
there was another overnight trade for $100 which classified as yesterdays.
Bearished Bias, however we visited the support at 20 on ES already overnight. which makes me a bit more cautious on a potential reversal today. News obviously isn't good but that's the perfect recipe for a reversal. When everyone is bearish, MM like to run it up at some point. I'm open to a dip yet green close.
CL Needs to hold above 67.00-67.21 zone today. Otherwise we going down again. Personally looking for break and hold of .21 to catch the move down or break and hold upward of .65 for upward movement.