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As some of you probably already know i did a Gauntlet attempt with Earn2Trade at the end of 2018 and beginning of 2019.
Due to disappointing results which came from a losing streak i lost the funded account after 2 weeks. I have thought long and hard about the next step, another Gauntlet, another funding company or maybe even micro futures.
I have decided to go with OneUp this time, their trailing draw down is an absolute pain in the ass but unless i am as unfortunate as last time and i start the account in a losing streak once again it will have almost no impact at my trading system and results.
So, OneUp this time, i received a 10% discount for the $50K account and for me it seemed like the best offer for the money this time.
The strategy i still the same, however i have made some small changes.
This time around i am rating my trades from 1 star to 3 star setups and i will only trade the 3 star setups. I also managed to create a proprietary indicator which alerts me when a signal is coming up (a part of it is available here on the forum which is based on the CCI indicator in MultiCharts, however the end product is much more complicated than what was posted there). The reason to create such an alert indicator was to make sure i would't miss the 3 star setups, or at least as few as possible.
All trades are done on volume charts, all trades will be with 1 contract and the risk:reward per trade will be fixed at 1:1,5. However due to the trailing draw down some of the positions will be closed earlier if i notice support/resistance.
For those who are interested, here is the link to my previous journal. I am keeping those journals separate since the previous journal was specifically for the Gauntlet attempt. The first Gauntlet attempt starts at page 1, the second and free Gauntlet attempt starts at page 7.
I am going to start my Gauntlet on Monday 15th of October.
In the past i have tried out TST and OneUp trade.
The reason i failed at TST was because my system just wasn't ready and then i tried OneUp however the daily draw down based on balance …
Can you help answer these questions from other members on NexusFi?
In an effort to help, I just want to point out how your trading system just changed in the above statement... so let me rewrite it for you.
“Had I been trading my own live account I would have made even more profit today, but because of the Oneup rules I changed my plan and traded my profitable system differently”
Just one trade for me today, not many reversals to take advantage of.
Since we are approaching lunch time in the USA and i have to leave for the rest of the session in 60 minutes i am going to call it a day.