Challenge of Weekly Profit trading Futures

Trade4gainz said:
No!

I'm from USA
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Oh dear, another misunderstanding...

Peter10 was responding to OchoCinco's post about the jokey bit about being from Nigeria. You have confused Peter10's response as being to directed to you, Trade4. It is a joke about the Nigerian prince spam e-mails that used to circulate (and maybe still do?) in e-mail systems.

Anyways, Trade4, go ahead and do the journal thing, never mind that Nigeria exchange. :-)
 
El OchoCinco said:
Why? Because I don't like ending on a loss. So scalped a little bit more and closed with a profit despite another fat finger mistake. Also wanted to get out before Fed minutes as who knows what will happen. Not a great day but ended net positive and for me I will take that because some of my entries were questionable so best to leave it for rest of day and take the money. BIAS was lower but not going to hold through news.


View attachment 190197
Net Gain on these trades: $215

Combine with loss from earlier TOTAL NET GAIN: $155
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El OchoCinco,

Your trading mindset is sort of like mine. It doesn't sound like you are a mechanical or rule based trader, but more on the gut feel, take what the market gives you mix in with a semi
discretionary/mechanical based trader.

Am I correct? I don't wanna be in your business , I am just asking. Cause my trading is sort of like free styling, I just trade and track my performance metrics.

Either way I like how you trade and I have traded the NQ and TF before, both swing very well.
 
Not so free style....It is based on price action and layers of support and resistance looking for entries I feel have the best chance to profit from a scalp or small runner. It is not mechanical rules based where I take the trade when x crosses y or indicators but price action, layering of support and resistance and reading the candles (yes I love candles but I don't follow the 3 crows banging or downward dog star stuff).

It is hard to be consistent over time and find leaks without consistent parameters to take trades. I can go back at the end of the day and see if a trade was good or bad, regardless of whether it made money. Sometimes we have a bad entry and it goes our way and I want to avoid those. Futures trading is not the same as what I did 2 years ago because I learn.

The problem is even if I told you eveyrthing I have up on my screen you just might not see it the same way I do. That is why I always tell people hours to years of screen time develops the eye and filters out bad things over time. You have to have some basic rules/system to define what you are looking for or you will be too much a reactionary trader and get whipsawed into losses.

Being an option trader primarily helped me because option trades can be planned out/modelled/analyzed before entering the trade. For futures you don't have the same amount of time but I still prefer the analytical approach of looking at a set up I feel should work and then studying 30-40 days of intraday historical charts and see if what I said hold true (i am more logical and analytical then people would guess). Also looking at 30-45 days at a time studying I start to see things repeat and then I look for price action clues and S/R to see how to enter into trades.

Also I am fine with 1-3 contracts. Not trying to bust my nut in one day. Lots of littles on a regular day adds up to quite a lot over time versus trying to hit 5 digits on one scalp.

O29V1BG.jpg
 
Trade Update

took another Scalp on NQ

total Asian market trade +405

total today +$2300+

I wish I was holding for few more mins could have been a $800+ trade for Asian market
 
El OchoCinco said:
Math is fuzzy unless you leaving something out...
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I'm sorry for not being at dime and cents as i was just putting a whole numbers.. I have updated my screenshots, up +$700 for the asian session with NQ
 

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