I would like to start a journal where all my trades taken with this new strategy are tracked, so that I can revisit them as and when needed to improve myself while trading this strategy.
I took near an year break from day trading and was doing only positional trading, however as I didn't feel comfortable, I have started day trading from the start of this financial year.
I would like to diversify my income and hence, to get funded through a prop firm I have taken up their evaluation. KJC was another trader from our traderji forum who took the combine, aced it and passed the Funded Trader Preparation as well and doing very well with his funded account.
I will be following below simple rules:
Psychology:
1) Always follow the process, if you dodged the process, you end the trading day.
2) If you are feeling hungry, excited or disoriented, you end the trading day.
Risk:
1) I will be risking $200 per trade max.
2) Trailing draw down per day is $200.
3) Max loss per day is $400.
4) Max profit per day is $600.
5) Exit trade once it moves 10 ticks in your direction and trail sl to break even once trade moves 6 pips in your direction.
Strategy:
Acknowledging Strengths in 1 min tf and trading with a breakout pattern.
Symbols traded:
GC
Process:
Before every day.
1) Is there any change in your mood.
2) Is there any news or release planned for today during your trading zone.
Before every trade.
1) Is there evidence of strength.
2) Is the trade within R:R ratio.
Additional Rules:
Combine rules, FTP rules and funded trader rules as designed by the proprietary firm.
I took near an year break from day trading and was doing only positional trading, however as I didn't feel comfortable, I have started day trading from the start of this financial year.
I would like to diversify my income and hence, to get funded through a prop firm I have taken up their evaluation. KJC was another trader from our traderji forum who took the combine, aced it and passed the Funded Trader Preparation as well and doing very well with his funded account.
I will be following below simple rules:
Psychology:
1) Always follow the process, if you dodged the process, you end the trading day.
2) If you are feeling hungry, excited or disoriented, you end the trading day.
Risk:
1) I will be risking $200 per trade max.
2) Trailing draw down per day is $200.
3) Max loss per day is $400.
4) Max profit per day is $600.
5) Exit trade once it moves 10 ticks in your direction and trail sl to break even once trade moves 6 pips in your direction.
Strategy:
Acknowledging Strengths in 1 min tf and trading with a breakout pattern.
Symbols traded:
GC
Process:
Before every day.
1) Is there any change in your mood.
2) Is there any news or release planned for today during your trading zone.
Before every trade.
1) Is there evidence of strength.
2) Is the trade within R:R ratio.
Additional Rules:
Combine rules, FTP rules and funded trader rules as designed by the proprietary firm.
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