Just another trading journal! -hops on bandwagon-

SkyMint513

Newbie
5 0
Hello,

Here I will post my trades and why I took them. (Details are below)
(Please let this last!)

Hopefully much later I will look back and say.."I can't believe I thought/did that ____?!!"

To the best!
& Happy New Year everyone :clap:

Why
To remember why I traded and to gain perspective

Which and How many markets to trade?
Real trading: Exchange Traded Funds [Energy, Precious Metals, Grains, Softs, Interest Rates?, Currencies?]
Paper trading:
First priority> Account 1-futures
For fun> Account 2-Stocks
For fun> Account 3-Forex

Trade no more than 6 markets

What is the strategy? And What time frame? Risk management?
Discretionary, a few days to weeks, trend following breakouts and pullbacks
Step 1)Find Bias (condition) 2)set-up 3)Trigger


Bias:
Trend (price action)
Strong seasonal average direction


Stats (historical performance on this day of week/month, or other variations)
COT & price levels
Fundamental condition & news sentiment (Just for perspective)

Set-up:
Indisputable seasonal "pivot pt" (tends to trend during this time of year)
A compression

Trigger:
When price breaks a high or low, or a boundary

Initial stop-loss: Undecided yet, thinking about using last bar's high/low, or a EMA. 2nd stop-loss: When ADX(30) turns down before prices take off.

Trailing stop-loss: EMA or Keltner channel

Risk management:
Risk <2% on any single trade
Risk <4% in any commodity group

Follow through:
Re-balance every month

To be continued ~~~
 
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SkyMint513

Newbie
5 0
Watchlist:
IWO (Russel small cap index) - waiting for pullback
UNG (Natural Gas) - waiting for breakdown

Entered:
FXE buy 130.2 target 131.1
SL 129.26

Pullback in rising trend
 
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