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FIO Journal Challenge - November 2018 edition w/Earn2Trade
Continuing in the tradition of encouraging journals on FIO, I am announcing a new Journal Challenge for November 2018.
The rules are extremely simple:
a) The contest begins November 1 and ends November 30. All decisions made by futures io are final.
b) This thread that you are reading right now will act as the repository for all journals that are entered into the contest.
c) The author of a journal can enter his/her futures io journal into the contest by posting a link to his/her journal in this thread. Only the author of the journal can do this. Please post the link to the journal ONE TIME, AND ONE TIME ONLY in this thread.
d) Members of futures io will cast their votes for the best journals by using the "Thanks" button on the post that the journal author has made in this very thread. This is why it is very important the author of the journal make only one post, because only one post will be used to count the total number of "Thanks Received" in this thread, and that is how the winners will be decided. Members can vote for as many separate journals as they want by following the same procedure.
e) There will be three prizes awarded, based on the highest number of "Thanks Received" per the above. The first place prize is a free 60-day Gauntlet in Earn2Trade's program -- to use towards earning a fully-funded trading account, a $349 value. Second place is a $150 Amazon Gift Card. Third place is a $100 Amazon Gift Card.
f) As we increase the number of these events, we find the need to keep it fair for everyone - so you are only eligible to win a prize in this event if you have not won any other prize within the prior 3 events on futures io. Feel free to participate in the process, but know prize eligibility will be a deciding factor in the final award process.
Thank you to @Earn2Trade for sponsoring this event. You can ask questions about their program here, and get answers directly from Ryan, the Founder of Earn2Trade:
Orianna Foucault, Director of Support and Candidate Relations at Earn2Trade will be monitoring this thread so that she may answer any questions that you post here relating to Earn2Trade's products and services.
Please keep in mind that some customer …
My goal with these contests is to encourage the journaling process, as I firmly believe the more you participate in the journal process, the better trader you will become.
This's yawaniga from India, Practicing SIM Trading on US NYMEX CL and Live Trading on Indian Futures.
And I 've Spent Couple of years Live Market Screen timing to understand the dynamics of Future trading.
For the purpose …
Market - Indian MCX Market
Platform for Charting - NinjaTrader
RT Data - NinjaTrader Authorised Data Vendor and Customized External Utility
Trade Plan - Price Action with Orderflow
This journal will be dedicated to my attempt on the Gauntlet from Earn2Trade.
But maybe a little bit on my recent trading background first, so that you know where I am coming from.
I am trading on and off for several years now, first starting during …
Fitting the first prize of this contest, the journal will be an actual Earn2Trade Gauntlet, an investment I hope to recover from this contest of course
BUT
In spirit of this great community and giving back to it, I commit to the following:
If I should win the Journal copmetition and make it through the E2T process of becoming funded with their backing partner, I will, from the proceeds of my first withdrawal, sponsor a new journal contest here on FIO with 1 E2T Gauntlet as first price.
Now about trading:
My current struggle is in trade- / risk management. So I have created a dedicated Ninjatrader strategy with Entry / Exit buttons that handles this part of trading for me.
This way, I am reducing the possibility to move stops & targets on a whim & completely going off the rails from thereon after.
The management rules are simple, really:
Stoploss
always one tick below the low of the last three candles (for longs, reverse for shorts)
Position Size
calculated on a max. risk-% of account size & the stoploss distance. I am accounting for 1 tick slippage in this calculation, as entry is with stop orders.
For the Gauntlet, the settings will be 1% of account size (i.e. 250$) per trade. Maximum number of contracts is further limited by margin requirement.
TakeProfit
Reviewing historical charts & average swings, I have concluded that, for me personally, 1.5 x the 12-period ATR is a good middle ground between win-ratio and risk/reward. (5min chart).
Moving forward, I will periodically review actual trade history to determine whether a larger or smaller target is more suitable.
Special rule: If the ATR-target is smaller than the calculated risk, the target will be extended to meet 1:1 risk/reward ratio.
As for what & how I trade... :
> no indicators, just price action. In the past I used VWAP, EMA, PP & Fib ratios. With context, they all work. But it also works just fine without those things, so over time I have come to appreciate the clarity and focus of a clean chart.
> 5 minute chart. Definitely ES, probably also 6E. Personal account also sometimes FGBL during London session. Ive traded all kinds of markets successfully at one time or another, so my opinion is that market selection for my trading is not make or break criteria - unlike habits & behavior
Currently the volatility in ES often doesnt allow for a stop with less than 250$ risk, so this is additional reason to look for additional markets.
> Traded setups are more or less:
- Trend Reversals (for ranges and broken trends)
- Simple pullbacks for strong trend continuation
- complex pullbacks for "normal" trend continuation
- continuation at trendlines
All setups require at minimum a break of a prior bars high, preferrably or a completed signal bar.
Below two charts illustrating a few entry points. Now don't assume that this is exactly how I traded these examples. I didn't and I don't claim to achieve this kind of accuracy in realtime.
It is nonetheless a good illustration of how I look at charts. On good days in realtime, on the other days at least in hindsight
The setups etc. will hopefully become clearer over time as I post actual trades charts in the journal.
Happy trading to all readers and fellow contest-participants.
Cheers,
ST.
P.S.: Now that you've come this far down in the post, it would be a shame not to press that "thanks button", right? ... ;-)
I have developed my algorithm for scalping the ES.
I used Tradovate for a reliable demo program that puts you in a realistic cue.
I continue to trade live with them for a nice commission deal.
Currently my target is 1-3 tics.
I trade momentum …
I've been at this journal for a month or so and see how capturing my thought on a regular basis adds to much added confidence and stability.
I started my journal to have a written record for my son who is not ready to hear how this works yet. I have many ailments including metastatic melanoma and never know when the my last trade will come. I always use a bracket in the event I expire with an open trade (LOL). I'm good with living and good with dying, chronic pain.
Not sure about even using first prize effectively but am a competitor.
If my journal is up to your standards of community minded members who offer their hard work freely, without an expectation of reciprocation, then
HIT THE LIKE BUTTON TWICE, JUST IN CASE.
THANKS BIG MIKE FOR A NICE EXPERIENCE HERE ON FUTURES IO
EX
PS Coming off my best three months and last month was my best cash out ever. Scalpers unite here at FUTURES IO
Hello guy`s
This is my second Journal challange. I would like win this challange becouse:
- My journal this is my daily work, how iam work and learn;
- Each day iam do and post my Pre market plan and idea for current day;
- Each day iam do Market recap and look what was good and where i was wrong;
- Each weekend iam do Weekly report where iam look how iam grow, learn and trade!
Hi All
Im read same post and journal other traders around 1 year before and now i want do same with my trading and it wil be first experement for me on this forum.
Short info about me:
Location: Moscow, Russia
Trading experience: 3 years
Trading style: …
Please hit "Thanks" I will be very glad and lucky!