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:
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?]
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
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)
Indisputable seasonal "pivot pt" (tends to trend during this time of year)
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 <2% on any single trade
Risk <4% in any commodity group
Re-balance every month
To be continued ~~~