Hi all. I have been trading in the futures and options markets since 1986, sometimes with astonishing success, and other times with abject failure due to a breakdown in the discipline to follow my own methodologies.
In an attempt to improve my discipline, I will be documenting my futures trades here, and will do my best to post my orders as I place them. I have opened an account with $20,000 in capital, and will be paying $14 R/T in commission.
I am following 12 primary markets: ES, NQ, US, TY, AD, BP, CD, EC, JY, SF, GC, SI. Depending on the risk, I would also trade mini-versions of these market (E7, J7, YG, YI, etc). I will be using a risk-to-stop of 3-5 % of my capital on each trade.
My trading methodology is 100% technical, monitoring breaks of support/resistance levels, followed by retracements for entries, then exits at specific targets using Newton's 2nd Law of Motion (every action has an equal and opposite reaction). All trade points (entry, exit, stop) are objectively defined from the price lows and highs on the chart. I do not use any indicators calculated from the price action (stochastics, rsi, atr, etc.), though I am very familiar with them, having traded for 24 years.
My posts will include entry, exit, stop, dollars at risk, and margin requirement. I adjust stops based on subsequent market action, and I will post these as well. I will also include my capital level as I close positions.
Hope you find it interesting.
Thanks,
Warren
In an attempt to improve my discipline, I will be documenting my futures trades here, and will do my best to post my orders as I place them. I have opened an account with $20,000 in capital, and will be paying $14 R/T in commission.
I am following 12 primary markets: ES, NQ, US, TY, AD, BP, CD, EC, JY, SF, GC, SI. Depending on the risk, I would also trade mini-versions of these market (E7, J7, YG, YI, etc). I will be using a risk-to-stop of 3-5 % of my capital on each trade.
My trading methodology is 100% technical, monitoring breaks of support/resistance levels, followed by retracements for entries, then exits at specific targets using Newton's 2nd Law of Motion (every action has an equal and opposite reaction). All trade points (entry, exit, stop) are objectively defined from the price lows and highs on the chart. I do not use any indicators calculated from the price action (stochastics, rsi, atr, etc.), though I am very familiar with them, having traded for 24 years.
My posts will include entry, exit, stop, dollars at risk, and margin requirement. I adjust stops based on subsequent market action, and I will post these as well. I will also include my capital level as I close positions.
Hope you find it interesting.
Thanks,
Warren
