firewalker99 said:I've decided to add this to my journal, in case I ever need reminding myself of why I want to be a trader:
I want to make a living of trading, I don't want to become a millionnaire or anything of the kind, but I want it to be similar to a full time career. Instead of working for someone else or being the slave of the corporate machinery, I'm willing to choose the path less travelled.
Daytrading is what I prefer the most. I'll be spending 8-12 hours a day looking and analyzing charts. My time frame for a trade should be about 15 to 45 minutes at most. I'm looking for about 5 trades a day, as I've experienced the less I trade the less trades are based on weak signals or impulsive reactions.
FDAX futures starting at 8:00 till about 17:30. Around 15:30 I also start looking at ER2 till around 22:00. At lunchtimes I prefer to stay out of the market and look what happened. I'm not trading news events. I won't be trading throughout the whole day, but want to be available to the market from around 9 to 21hr. Before and after I don't follow realtime.
The charts are 3 minutes candlestick charts, which I crossover with a 15 minute chart, and at the start of the day I take a look at the previous day and week.
5. I will not trade countertrend nor retracements itself. I will look to pick up a trend and try to place an entry before a runup or rundown phase. Within a ranging period, I'll be looking to pick up some points by buying/selling with the trend. Breakouts of S/R zones can be interesting, but I won't react on a breakout through a trendline.
Thank you for posting this. If I don't come back to it later, remind me.