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little update, for 2 weeks I went in sim but as there's no market depth and no stress of losing... it isn't realistic enough for me.
So I switched to Micro ES, removed a lot of indicators I wanted to test, and I'm learning to read the superDom of NT.
Since 2 weeks my objective is very simple: making 2-3 points per day on MES, commissions are high compared to the wins, that adds some "difficulty".
So what I do is:
- open1 position at the time;
- look for 1 point, eventually move my TP to 2 points if I really feel it;
- trying to open and close orders via superDom;
- I look a lot at ranging, not trending at all, ranging is a tennis game with positions bouncing several times between 2 prices, I don't need high volatility for this type of scalp.
So basically that makes +/- 10$ every day after commissions, in 1 to 3 trades if everything goes well.
But some days my first trade is bad so I need to make it right later in the day.
Nothing really crazy, not difficult or stressful... I don't look to take 30 points a day.
If I can keep that 2-3 points objective every day for 2 months I will start to open 2 positions, and slowly move back to ES.
Thanks for the advice, I'll take a look at those channels, there is so much info out there !
I think that many struggle because they want to make a lot of points at once, and that needs experience and a lot of analyse (technical and fundamental)
but making 1 point can already make you profitable without the need of so much efforts, just know the market open price, the highs and lows, some resistance/ supports...
you can always add some contracts, if you make 1 point on 10 contracts that's already 500$
I feel bad... and ashamed
week was ending pretty well, third week making 10-15 ticks every day by noon on MES, so little amounts but regular 10-15$ every day
But later in the day I did all possible mistakes
Overtrading : My day and week objectives were met, I shouldn't have started ninjatrader back, but I did, saw so much green that I decided to take a trade
FOMO : the trade I took was in a haste, I wasn't concentrated, I hadn't done any analyse
Friday evening : usually bad for me, but with the holidays I had lost the day it was, as I said, wasn't concentrated
change rules : I each trade I take is just for 4 or 8 ticks TP and around the same for TL, but I don't know why I decided to try 16 ticks, 4 points... and R:R 1
SO That trade started well, it touched my TP but bounced before filling it and it went all down, I tought "well I'm losing +/- 35$... lesson learned ok"
but I was kicked out before it touched my TL... not enough leverage... and then I realised my fifth error, I was on the wrong instrument and had lost 350$ on my very small account, all profit of the last 3 weeks training.
In the morning I had configured a news indicator on both MES and ES and I hadn't switched back to MES, again I WASN'T CONCENTRATED
It had to come out, I had to write it down, it's just a very small account but good lesson
it will take a good month to win this back and to learn more
Fripi, I did the same thing last September. I was trading MES and risking 16 ticks per trade. I looked at the ES order book, did not switch back to MES, went surfing, came back, and put a trade on. Looked at my open P/L and down -$175 in a few seconds and couldn't believe my eyes. All I could do was get out and laugh.
Long time no logs here, well still learning the hard way.
I was well busy at least a week on configuring my NT8 the way I like it
I draw resistance and supports on my 4h shart
I keep an eye on 15 min for general movement and also the news (vertical lines)
And I trade on the 2000 ticks or 1 min... depends on my mood, can't really explain.
Then I started a Topstep 50k combine challenge this month, I find their rules are really ok :
- It's a one step challenge
- I must win 3k
- Max day loss limit is 1k
- Max loss limit is 2k
- Maximum Loss Limit of 2k is based on your end of day balance, which I find better
- unlimited time
- min 4 days
- Consistency rule: best day below 50% of total profits made
And what can I say, went pretty well for 2 weeks, I go slowly, and was at 2200/3000
But today was globally a bad day for me, I shouldn't have traded and I got brutally stopped out before I could set my SL right... so -1200 and I hit the max day limit.
Next I will rest, analyse my bad day and will start again next week, 2000 to win but my limit is now only 800.... thats could be difficult. Otherwise I got a free reset next month.
