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  #1 (permalink)
Kalisz, Poland
Posts: 59 since Apr 2020
Thanks Given: 97
Thanks Received: 65

Hi All!

I start this trading journal in order to develop basic trading process and be able to get consistent results, so I can evaluate and make progress.

My plan is to establish trading process and then to take TopStep Combine and enter the real futures market. Iím a beginner so I donít want to commit to much money.
Thatís why (and because I live in Poland) I will trade CFD based on NQ futures through a broker that is tied to a bank that I use. Iíll trade on Meta Trader 4.

I set up my account (15 000 PLN) and risk&money management so it could resemble Top Step requirements.
  • Daily loss limit - 2% (201 points or 300 PLN)
  • Trailing drawdown - 3% (302 points or 450 PLN)
  • Target - 6% (604 points or 900 PLN)

FUS100 in a CFD name that tracks NQ. 1 point is 1,49 PLN (0,40$) with 0,01 lot size position. Thatís the minimal trade size, so itís basically micro stakes, but enough for me to care
(and experience psychological effects that trading produces)..

Ok, so how Iím going to trade?

Basically I use five indicators:
  • SMA (55)
  • TTM_Squeeze Break
  • TTM_Scalper
  • TTM_Trend

I look for confluences between those indicators so I can take advantage of break outs. Iíll focus on 5M, 15M and 30M charts.

My strategy is pretty simple one.
  • For entry I look at TTM_Scalper to generate signal after third bar with higher close in a row (for buy) or third lower close in a row (for sell).
    Preferably it should happen at the beginning of a break out.
    I avoid entering position during low volatility phase of the cycle.
  • I look at momentum for confirmation of direction, as well as I take higher time frames tendencies into consideration.
  • For exit I look at TTM_Trend and close position at first bar of opposite color (first red bar to close long, first green bar to close short).
    If opposite signal fires first in TTM_Scalper I also close position. Iím also out of position when price approaches next pivot level.

As I said I want those indicators to be in sync. I also donít want to enter position opposite to a trend in higher time frame. Iíll avoid any divergences.

Iíve learned so far that itís better to wait for good opportunity even if that means being flat all day. One of my first mistakes was overtrading.
Now I donít want to make more than 3 trades a day.

Unfortunately I donít have access to any meaningful volume indicator and that is a big disadvantage when trading CFDs.

Mostly I will trade between 16:30 GMT+1 and 22:00 GMT+1. Iíll post daily updates.

I'm open to any feedback from you, as I surely make mistakes along the way.
However my goal is to learn as much as possible.

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  #2 (permalink)
Europe Union
Posts: 11 since Oct 2020
Thanks Given: 13
Thanks Received: 14

which platform you use for CFD trading? MT4, MT5?

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  #3 (permalink)
Kalisz, Poland
Posts: 59 since Apr 2020
Thanks Given: 97
Thanks Received: 65


@CfreeZ Hi! I use MT4 for CFD trading and MT5 demo on AMP Global to track actual @ENQ chart.

First thing is that I've spotted miscalculation in my previous post. 1 point on CFD I trade is ~1,49 PLN (0,40 USD). It's edited now.

Second thing is that I was able to make only one trade today.

Instrument: FUS100
Open: 17:33 at 13165,48
Close: 18:45 at 13226,00
P/L: +60,52 points

Entry: I waited for TTM_Squeeze to fire signal on M30 chart, as you can see below.

Zrzut ekranu 2021-02-01 175148

I could enter this trade 15 minutes earlier but waited for confirmation on higher timeframe. That's how it looked like on M15 chart

Zrzut ekranu 2021-02-01 175255

My stop loss for this trade was 25 points (below the low of M30 bar).

Exit: on M5 chart I waited for TTM_Scalper signal to go short. It appeared after 1h and 12 minutes.

Zrzut ekranu 2021-02-01 184544

Then the @ENQ went sideways on lower volatility.

It was tempting to scalp some of the moves between 13230 and 13265, but that's not in the strategy for this challenge
and I know I'm going to overtrade this way. I'm happy that I could restrain myself

See you tomorrow!

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  #4 (permalink)
Posts: 10 since Jan 2021
Thanks Given: 1
Thanks Received: 10

25 point stop, with 60 point profit that's good man!

I like that you have clear signals for both entry and exit

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  #5 (permalink)
Kalisz, Poland
Posts: 59 since Apr 2020
Thanks Given: 97
Thanks Received: 65


@Liltrader Thanks! It's always a challenge to stick to the rules though

Today I've taken 3 trades as I was forced out of positions by TTM_Scalper exit signal.
If I had stuck to my stop loss level I could stay in first trade and let it ride.
However I use TTM_Scalper also to limit the risk I take in each trade, especially when I dont' hit
that breakout that would give me dozens of points

Instrument: FUS100
Open: 16:31 at 13396,00
Close: 17:35 at 13409,25
P/L: +13,25 points

Entry: TTM_Squeeze fires signal in M30 chart.

Entry Trade#2

Stop loss is 20 points.

Exit: TTM_Scalper on M5 chart generates signal to go short after 1h 4 minutes.

Exit Trade#2

Instrument: FUS100
Open: 17:45 at 13439,98
Close: 18:30 at 13463,15
P/L: +23,17 points

Entry: I go long after 3rd higher close (TTM_Scalper paints red bar on M5 chart), the pullback wasn't too big, that's why I looked for another entry.

Entry Trade#3

Stop loss is 20 points if the trade would immediately turn against me.

Exit: TTM_Scalper generates signal to go short after 45 minutes.

Exit Trade#3

Instrument: FUS100
Open: 19:35 at 13456,98
Close: 20:05 at 13469,15
P/L: +12,17 points

Entry: I use TTM_Scalper on M5 chart to get in a long position

Entry Trade#4

Stop loss is 17 points.

Exit: TTM_Scalper generates signal to go short after 30 minutes.

Exit Trade#4

Today's P/L: +48,59 points
TOTAL P/L: +109,11 points

I'm not particularly thrilled about today's R:R ratio, so I will observe if such situations occur more often and then I'll adjust.
For now I need more data.

See you tomorrow!

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  #6 (permalink)
Kalisz, Poland
Posts: 59 since Apr 2020
Thanks Given: 97
Thanks Received: 65


I made two mistakes today. I've chased a trade that I didn't execute at the right price, then I was second guessing whether I should exit right away or not.
I also entered a trade too early, not waiting for a close of a M30 bar to confirm the signal. It didn't cost me money this time,
but it will in the future.

That's why I make a note to myself: focus on the present moment and follow the plan!


Instrument: FUS100
Open: 16:19 at 13434,15
Close: 16:29 at 13422,75
P/L: +11,40 points

Entry: TTM_Squeeze fired a short signal at 13464 and I chased the trade to enter it 30 points lower.

#1Mistake - chasing

Exit: I second guessed myself whether to stay in this trade, got confused and decided to close it after 10 minutes of fruitless rumination.

Today on 5M chart I could observe a signal that should be avoided. It looks like that:

What to avoid

TTM_Scalper paints big red bar after 3rd higher close, which is below the high of that first bar. I disregard such signals
applying what John Carter wrote in "Mastering the Trade"

Anyway I waited for a close above the high of that painted bar and I thought I got one...

Instrument: FUS100
Open: 17:40 at 13452,48
Close: 18:35 at 13459,53
P/L: +7,05 points

Entry: I looked at M30 chart, saw a signal, entered a position, then I realized there was still 15 minutes to a close :P
However the same signal fired also on M15 chart so I stayed in position and waited for exit signal.

Entry Trade#6 M30

Entry Trade#6 M15

Exit: the exit signal appeared after 55 minutes with substantial move downward.

Exit Trade#6

Then market moved straight up leaving me with only 7 points.

Instrument: FUS100
Open: 18:45 at 13482,60
Close: 18:56 at 13476,15
P/L: -6,45 points

Entry: TTM_Scalper fires signal on M5 chart

Entry Trade#7 M5

Exit: exit signal is generated after 11 minutes

Exit Trade#7

When the market is choppy it's not easy to rely on those indicators. That's where I should look for divergences to filter out trades.

Today's P/L: +12 points
TOTAL P/L: +121,11 points

I've also missed a move short from 21:00 PM (GMT +1), but decided not to chase it and not to think about how many points were left there

After all financial markets will be there tomorrow

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  #7 (permalink)
Kalisz, Poland
Posts: 59 since Apr 2020
Thanks Given: 97
Thanks Received: 65


My main problem today was being bored while observing the chart. That led to hasty reactions to signals. I've noticed that I switch off and don't pay attention to the state of the market, then when something happens I rush to enter or exit a position.

I could use some mindfullness...

Anyway, I made 3 trades today:

Instrument: FUS100
Open: 17:50 at 13463,48
Close: 18:30 at 13468,28
P/L: +4,80 points

Entry: signal to go long fired on M5 chart, but I should wait for confirmation on higher time frame

Entry Trade#8

Then the market went back a bit, and a signal to go long fired second time on better price, but I was already in

Second signal after entry trade#8

Confirmation Trade#8

Exit: signal to go short appeared after 40 minutes, as there was no major move up

Exit Trade#8

Instrument: FUS100
Open: 19:15 at 13497,74
Close: 20:22 at 13491,03
P/L: -6,71 points

Entry: TTM_Squeeze fired a signal on M15 chart

Entry Trade#9

This time I had a chance to understand what does "lagging" mean in relation to indicators

I entered after a minor break up and there I was waiting... waiting... getting bored... price move down and I'm gone...

Exit Trade#9

As there was not much going on the chart I started wondering if there is a way for me to get reliable info about volume.
It turns out that on AMP Global demo account I've got live updates on @ENQ volumes. I compared it to what is available on and it looks similar.

Instrument: FUS100
Open: 20:56 at 13506,35
Close: 22:00 at 13538,40
P/L: +32,05 points

Entry: I entered this trade based on spike in volume between two M5 bars. I set a stop loss to 15 points, below the last M15 bar.
My target was nearest pivot level.

Volume spike

Entry Trade#10

3 bars after a TTM_Squeeze fired a signal to go long:

Entry Trade#10 (1)

Exit: I closed the position when price hit the target

Exit Trade#10

Today's P/L: +30,14 points
TOTAL P/L: +151,25 points

I need to work on my mental approach.
I think I'll create some kind of a checklist that I will use before entering a position, so that I could focus on making a rational decision instead of acting on an impulse.

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  #8 (permalink)
Kalisz, Poland
Posts: 59 since Apr 2020
Thanks Given: 97
Thanks Received: 65


Last day of the week, but first losing day in this journal. It had to happen at some point and it always has a sobering effect.

Instrument: FUS100
Open: 16:50 at 13564,73
Close: 17:15 at 13549,65
P/L: -15,80 points

Entry: TTM_Scalper on M5 with signal to go long, confirmed on M15 and upward momentum

Entry Trade#11

Exit: TTM_Scalper on M5 with signal to go short

Exit Trade#11

Instrument: FUS100
Open: 18:56 at 13630,48
Close: 19:53 at 13594,91
P/L: -35,57 points

Entry: TTM_Squeeze fired signal to go long on M30 chart, upward momentum

Entry trade#12

Exit: stop loss hit at 35,57 points

Instrument: FUS100
Open: 20:15 at 13601,73
Close: 20:50 at 13592,03
P/L: -9,70 points

Entry: TTM_Scalper on M5 displays signal to go long

Entry Trade#13

I shouldn't go in as there was no upward momentum

Exit: TTM_Scalper fires a signal to go short on M5

Exit Trade#13

Today's P/L: -60,35 points
TOTAL P/L: +90,90 points

I avoided revenge trading and taking more trades that I pre-planned to take. I need to review this week's trades more closely during the weekend and make some adjustments. I see that there's a long way to go before I will have robust process in place.

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  #9 (permalink)
Kalisz, Poland
Posts: 59 since Apr 2020
Thanks Given: 97
Thanks Received: 65


Instrument: FUS100
Open: 17:26 at 13641,03
Close: 17:50 at 13630,60
P/L: +10,43 points

Entry: TTM_Squeeze (M5) + TTM_Scalper (M5) + momentum all signals short

Stop loss is 12 points

Entry Trade#14

Exit: waited for TTM_Scalper to signal long

Exit Trade#14

I could get out of this trade earlier. I probably add a max target profit of about 3xATR for M5 timeframe.

Instrument: FUS100
Open: 18:00 at 13633,6
Close: 19:00 at 13635,03
P/L: +1,43 points

Entry: TTM_Scalper on M5 timeframe + upward momentum

Stop loss 10 points

Entry Trade#15

Exit+Entry Trade#16: TTM_Scalper fired signal to go short after 1 hour and I went short rightaway

Exit Trade#15

Entry Trade#16

Instrument: FUS100
Open: 19:01 at 13630,28
Close: 19:19 at 13641,10
P/L: -10,82 points

Exit: stop loss (10 points) was hit after 18 minutes

Exit Trade#16

Today's P/L: +1,04 points
TOTAL P/L: +91,94 points

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  #10 (permalink)
Kalisz, Poland
Posts: 59 since Apr 2020
Thanks Given: 97
Thanks Received: 65


I wish I could write that I didn't trade today at all... I've catched a cold and didn't feel well all day, but I decided to trade anyway.

Soon enough I've found myself overtrading, looking for trades where there really wasn't any and making stupid mistakes.

That led to 7 trades and compounded loss of 33,92 points.

Instrument: FUS100
Open: 17:10 at 13689,40
Close: 17:14 at 13687,23
P/L: +2,17 points

Entry: TTM_Squeeze short + TTM_Scalper short + downward momentum on M15 chart

Entry Trade#16

Exit: TTM Scalper signals long on M5 chart

Exit Trade#16

Instrument: FUS100
Open: 17:35 at 13690,10
Close: 18:11 at 13692,03
P/L: +1,93 points

Entry: TTM Scalper long on M5 chart

Entry Trade#17

Exit: TTM Scalper short on M5 chart

Exit Trade#17

I didn't actually close that position after the signal appeared, because I've noticed that volume picked up and price went along.

Instrument: FUS100
Open: 18:14 at 13700,85
Close: 19:24 at 13677,15
P/L: -23,70 points

Entry: TTM Scalper long on M5 chart

Exit: stop loss was hit

After that trade the market went up uninterrupted for about an hour. Then during the last hour I made 4 impulse trades.

As I look at it now it strikes me that I didn't execute the valid signal to go long (at 20:00 GMT+1), which could yield aroung +20 points.
That irritated me to the point that I couldn't be calm enough to wait for breakdown that I thought was likely to happen at the end of the session.
When it actually happened I had already closed 3 losing trades. I managed to get only 9,5 points from that last rapid move down.

Instrument: FUS100
Open: 21:15 at 13709,48
Close: 21:16 at 13703,65
P/L: -5,83 points

Instrument: FUS100
Open: 21:25 at 13693,03
Close: 21:35 at 13697,48
P/L: -4,45 points

Instrument: FUS100
Open: 21:40 at 13707,23
Close: 21:50 at 13693,64 (stop loss)
P/L: -13,59 points

Instrument: FUS100
Open: 21:50 at 13689,15
Close: 21:59 at 13679,60
P/L: +9,55 points

Today's P/L: -33,92 points
TOTAL P/L: +58,02 points

After such a day I need to make a break. I'll hopefully feel better and think through what I need to avoid in trading and how to prepare myself to not repeat mistakes I've made.

I also need to find out how to connect volume with those indicators I use and adjust my trade plan as well as pay more attention to market conditions during a day.

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Last Updated on February 3, 2023

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