hi all 
was away from active day trading for a while but going to be back full time shortly and intend to track my next 1000 trades to check if i have the discipline to make a proper living off the markets. i will be posting my trades live along-with charts and reasoning as far as possible to document my progress and save a kind of look-back journal that i can re-visit to check on my strengths and weakness.
why 1000 trades? because a strategy needs to run for a decent time and long enough to go through its troughs and peaks. fine tuning strategy every 100 trades or so is not healthy in the long run. as a hybrid scalper/intra-day trader averaging about 2 trades a day is not rare and if pure scalping then 6 trades a day or more is not uncommon.
i therefore expect to cover the 1000 trades in a year agw and i will be able to formulate a proper review of my system thereby.
capital - (will decide a firm figure before trading start date - but total capital is capped to some 4 approx) - used approx because i will be using a few days to test tweak myself and the amount may reduce by the time i start trading on the 2nd of jan 2020.
stock futures - some 2.5 or so approx
comm futures - some 1.5 or so approx
in stock futures i have a stop loss of 0.4 % approx per trade ie approx 950 and the target per trade is the same. trailing stop loss is used to safeguard profits. the stock i trade has a lot size of approx 4500 so the sl in points is 0.20 paise which is reasonable for a small time scalp.
in crude i have a stop loss of nearly the same ie 0.4 % approx per trade ie approx 650 and the target per trade is the same. trailing stop loss is used to safeguard profits. the sl is 6 points which is reasonable for a small time scalp.
what is the core aspect of my trading? my whole trading set up is centered on the heiken ashi candles. i use ema's and awesome oscillator in addition.
ema's define my trend. awesome oscillator confirms the strength or bias of the ema's but heiken ashi is my final 'trigger'. any deviation and my bias by default lies with the heiken ashi whenever any divergence on signals is generated
time frame depends on existing volatility but i am always between the 1 min to 15 min chart on the lower and highest side. usually 3/5 min is my normal prowling ground.
just to give you an example my trading strategy here is a test trade i just took a few minutes back while typing this post. i let the initial spikes settle down before trading usually so i skip the first 15 minutes on open
back-testing my strategy and making my final tweaks. no change in any values - ema's used are 20/50/200. awesome oscillator and heiken ashi are default.
those using heiken ashi on longer time frames will find my method confusing but this is only due to the shorter time frames the moves here are too small and one cannot wait for confirmation candles on heiken ashi to enter trades as it is usually done while trading the same..
on shorter time frames the momentum is to be used along-with chart patterns, channels, trend-lines, s/r's last high/low etc to enter and exit trades. we will discuss things as and when they happen.
above is a classic example of momentum scalp on the pullback. big move down (as per time frame of chart used) after which we wait for the weakness to show up, enter and exit before it reverses back into the trend by just scalping the tiny pullback.
however be very cautious and as far as possible do not take counter trend trades unless you are very sure of the scalp trade and are super quick. it is always safer to be with the trend. it is only alright if you are into pure scalping.
long enough for a intro post i guess. i will not be actively trading this month, a trade here and there to test the waters. testing myself by back checking scenarios and my possible reaction to them as a scalper to really get into the groove so to speak.
and yes, hope to learn from each one out here as my view to my own trading naturally will be strongly biased and even apparent flaws will not register no matter how big.
good day and good luck to all
was away from active day trading for a while but going to be back full time shortly and intend to track my next 1000 trades to check if i have the discipline to make a proper living off the markets. i will be posting my trades live along-with charts and reasoning as far as possible to document my progress and save a kind of look-back journal that i can re-visit to check on my strengths and weakness.
why 1000 trades? because a strategy needs to run for a decent time and long enough to go through its troughs and peaks. fine tuning strategy every 100 trades or so is not healthy in the long run. as a hybrid scalper/intra-day trader averaging about 2 trades a day is not rare and if pure scalping then 6 trades a day or more is not uncommon.
i therefore expect to cover the 1000 trades in a year agw and i will be able to formulate a proper review of my system thereby.
capital - (will decide a firm figure before trading start date - but total capital is capped to some 4 approx) - used approx because i will be using a few days to test tweak myself and the amount may reduce by the time i start trading on the 2nd of jan 2020
. stock futures - some 2.5 or so approx
comm futures - some 1.5 or so approx
in stock futures i have a stop loss of 0.4 % approx per trade ie approx 950 and the target per trade is the same. trailing stop loss is used to safeguard profits. the stock i trade has a lot size of approx 4500 so the sl in points is 0.20 paise which is reasonable for a small time scalp.
in crude i have a stop loss of nearly the same ie 0.4 % approx per trade ie approx 650 and the target per trade is the same. trailing stop loss is used to safeguard profits. the sl is 6 points which is reasonable for a small time scalp.
what is the core aspect of my trading? my whole trading set up is centered on the heiken ashi candles. i use ema's and awesome oscillator in addition.
ema's define my trend. awesome oscillator confirms the strength or bias of the ema's but heiken ashi is my final 'trigger'. any deviation and my bias by default lies with the heiken ashi whenever any divergence on signals is generated
time frame depends on existing volatility but i am always between the 1 min to 15 min chart on the lower and highest side. usually 3/5 min is my normal prowling ground.
just to give you an example my trading strategy here is a test trade i just took a few minutes back while typing this post. i let the initial spikes settle down before trading usually so i skip the first 15 minutes on open
back-testing my strategy and making my final tweaks. no change in any values - ema's used are 20/50/200. awesome oscillator and heiken ashi are default.
those using heiken ashi on longer time frames will find my method confusing but this is only due to the shorter time frames the moves here are too small and one cannot wait for confirmation candles on heiken ashi to enter trades as it is usually done while trading the same..
on shorter time frames the momentum is to be used along-with chart patterns, channels, trend-lines, s/r's last high/low etc to enter and exit trades. we will discuss things as and when they happen.
above is a classic example of momentum scalp on the pullback. big move down (as per time frame of chart used) after which we wait for the weakness to show up, enter and exit before it reverses back into the trend by just scalping the tiny pullback.
however be very cautious and as far as possible do not take counter trend trades unless you are very sure of the scalp trade and are super quick. it is always safer to be with the trend. it is only alright if you are into pure scalping.
long enough for a intro post i guess. i will not be actively trading this month, a trade here and there to test the waters. testing myself by back checking scenarios and my possible reaction to them as a scalper to really get into the groove so to speak.
and yes, hope to learn from each one out here as my view to my own trading naturally will be strongly biased and even apparent flaws will not register no matter how big.
good day and good luck to all
