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I traded well today. I did move my s/l right when I got into the trade (moved to ema line). I was committed to taking on one trade and regardless of its outcome be done for the day. I was able to sit on my hands today and let a few "okay" setups pass by. These were the trades I think I would of taken last week. I was able to keep my cool, by focusing on the my "optimal" setup. Win or loss, I was going to be done for the day after that trade. I'm happy I was able to follow through, I was very tempted to take another trade going short after the pullback had stopped me out of my original position. I also considered trading on sim, but I felt I must stick with the game plan. I need to stay true it, to prove to myself through my trading stats.
Hope ya'll got some green today!
04.24.2023_chart
I was going for 1:2 trade, 9 S/L : 18 tick TP. Since, I moved the s/l in the beginning, I guess it was around more 1:1. I did decide to take some off right at +16-18 ticks. I left the other half thinking it would drop down to 4135 (white box). Unfortunately, it there was a pullback past my B/E before it flushed down.
my charts are usually RENKO[5] but changed to RENKO[9] to compare to your charts .. the fast MA is HMA(Close,21) vs HMA(Open,21) and SMA(200) ..
the buyers/sellers indicator is convergence/divergence of (fast) smoothed ADL vs (slow) smoothed ADL .. my adaptation of OBVM indicator
NORMAN HALLETT participated in webinar .. he suggested a good strategy would have several scalping opportunities for each long-term trend opportunity .. I tend to treat all opportunities as scalping
ES 06-23 (5 BetterRenko) _ ES 06-23 (18 BetterRenko) 2023_04_24 (9_19_37 AM)
I switch from 12 to 9 renko bars. I use that number relating to my max s/l tick. I'm a visual person, it helps me make decision faster. Great trade, I was still getting up! I would of taken that trade off the bounce going long as well! HMA as in hull? Oh interesting, ill take look into ADL sometime. I agree with Norman, that's a great way to think about it. I also reach to that same conclusion recently. I've been on the fence about betterRenko, how has your experience been since using it?
.. you can find a nt8 indicator on the ninjatrader ecosystem website that will color the plot of the moving averages AND add arrows and alerts .. the indicator is .. search for >> ColorThePlot .. just use the moving average of your choice as the input .. set the parameters as you desire .. and you should be all set .. this would be similar to what I programmed into my indicators ..
or this indicator which will give you the opportunity to compare different moving averages .. and other parameters .. search for >> New Version Using Multiple Moving Average to find the region
using the concepts of these two indicators resulted in my HMA[21] indicator
the values for most of my indicators are Fibonacci numbers .. not 100% sure but heard somewhere that a majority of big traders use Fibonaccinumbers
.. so my charts tend to be 5 // 8 // 18
.. periods for moving averages and other indicators tend to be 3 // 5 // 8 // 13 // 21 // 34 // 55
HI I have been watching you and think I have very similar flaws. I m at apex 243 EA account. I have blown multiple PA accounts too .. about 11 times. i use copy trading hence my numbers are astronomically high.
I m not associated or affiliated with any of the proper firms but I have tried almost everything under the sun.
I have come down to one system - apex's sister company's Sniper BootCamp. Look that up. Its system will not allow you to blow your account. I still blow it because I get bored n frustrated and put large positions to get quick profits - n then screw myself up. I don't follow the apex sniper system 100% and this is also another issue as I put trades from my intuition of reading charts.
Currently, I m on DAY 1 - with 2700$ profit on all 5 50k EA accounts. Target is 3k so I m only 300 $ away with almost the full month left. I really really think I don't blow it.. I blew 15 accounts today self.
Your way of putting up things here is a good way to make on self-accountable. I think I shall start it too.
@anuproy Thanks for posting! I know exactly how you feel. I have heard of the sniper bootcamp system. I didn't look into it that much, but I'm glad that you are able to find profits. At this point of my trading, I truly believe making profit is the easiest part of trading. Any system can make money. The hard part is dealing with everything else, the bs that an unprofitable trader deals with. These demons prevent us from all becoming the trader we all want to be.
I'm glad you are day 1 with 2700$ on your 50k. But seriously, don't let your emotions take control of how you trade. You still need to trade for 6 more days, so trade small contract sizes. I would suggest doing one trade a day and let it be (what I'm currently doing). You will pass the eval within the month, don't rush it. I've blown up +$3k accounts just by doing dumb stuff. You took the risk to go aggressive. Let it work for you, trade smart, be in control. The end goal is to make money, not do another round of resets! haha message is probably for both of us!
I'm trying to complete my next eval in 7-10 days. I'm going aggressive with 40 /mes. I do plan to scale back down once I reach around where you are at, and ride it out till I pass with 1-3 /mes contracts trading only once a day.
I think you should post a journal. It is an outlet. I'll be following your journal closely, best of luck tomorrow!
SERSIOUSY! You are only 300$ away! Don't let your emotions take control!
@mewddsltd thank you! I will look into this over the weekend!
I've played around with fib and fib numbers. Oh without a doubt, big traders use fib numbers. I also see them line up perfectly on the charts every once in a while.
I did trade for a bit on 3min chart. I like the 21/60/200 moving average.
