A couple of comments from a distance- Let me preface by acknowledging that I am not a day trader- & don't have a clue about the instrument you are trading or what it would take to trade for a living- much less to be a day trader trying to earn one's living with one's hard earned dollars on the line every day.
Your latest daily chart highlighted the reversal and strong uptrend that occurred - about the same time you went 'live'- A nice 'swing trade' over the prior days if one held longer term.
As i have read through your thread- You note the emotional questions,, you say you have a written trading plan coming off Sim trading- have trouble staying with the plan-
You will try to limit the # of trades to only the 'best' setups; You will abstain from trading in the am open (trying to get a sense of the market's actual direction I assume- AND further assume that you would likely take those trades that also favor the trend of the market on a higher time frame? Or countertrend only when the price has reached that extended range and should react back to the mean?
First of all thanks a lot for contributing. I'm very new and still learning. I personally abstain from 930 open for a the past couple days, because I become the person who "doesn't wanna miss the big move", and end up chopping myself to death. So yes, generally direction of the market is what I'm learning to patiently wait for. Plan is written, but executing it neutrally and as second nature is what I'm working on. That's going to take time I can tell. I look at weekly daily just for general extremes. The hourly is what I base a lot of trades on. I intraday trade the 1 minute though. If price reaches an extended range extreme, I'll wait for confirmation that it's reversing back to the mean and I'll trade the new down trend. If trading the down move, in an uptrend hourly channel is "countertrend", then sure.
You will eliminate the overtrading - you will take only the best setups- Won't trade chop- How will you know when a transition from chop to trending occurs? How would you get on board?
Those are good questions. Ranging and CHOP are different to me. Chop is generally lower highs and higher lows forming into a wedge of sorts. Range usually has respected extremes, and price is hovering around a certain price that traders are finding value at. Lately in the NQ, 3980 has been a rangy price point many times over the past 4 weeks. Yesterday was filled with wedges, CHOP to me. Not ranges.
I cannot predict the transition. Generally I play a pullback after a range or chop break. If it trends, good. If not, try again. Are you asking so that I have this in my plan, or are you showing interest?
Why not take the time to present your 4 best type of trade setups that you have learned over the months in SIM and explain why those were your best reward trades- to an absolute novice- like myself- and 'teach' what criteria is necessary for that setup to be a viable trade- how you would see it forming, where you would enter, where you would exit- on a stop-loss- how would you manage the trade as it proceeds in your direction- Do you sell all at a target or scale out? And, after describing those trades and the necessary criteria-apply only them as the 'best of the best'- higher probability trades.
Perfect idea. This needs to be done. All of your questions here need to be answered pertaining to each setup. I do not have ALL of those answered in paper, but I know them. They should be on the paper as well?
What about position sizing? How do you adjust for surviving the learning curve that you have not yet experienced?
At this point, I'm risking what I SIM traded. Very little. This is how I'm surviving this curve. I'm not adding contracts, I'm not risking more than 1 to 1.5% of capital on each trade.
It would appear that you are ready to jump in and Trade to Earn- when it might be prudent as you actually go trade real $$$ that you first consider Trade to Learn- and indeed give live trading equal time to your Sim time to progress gradually over changing markets with an actual profit/loss / win/lose of a number of small trades-
You are right. Maybe, my mindset needs to change to that for now. I am trying to trade to earn. Trading to learn for now might help me more in the long run.
Select only the very best setups and trade them in small amounts........ Get some experience under your belt- The market will be here forever- You want to try to ensure that you have longevity as well- Don't be in a hurry to run in a marathon until you've accomplished some time on the track with some sprints, then 2 milers- then 5 ...........The track changes- You have not experienced that yet- You will assume that tomorrow will be an aberration- and will be surprised when the next week is more of the same- Don't be in a hurry to add $$$$- Just get the experience- and be a survivor -
Again, I have no understanding of what you are trading, account parameters, leverage, etc- Don't need to know- While you spent some time on Sim trading- did the Sim trade process teach you anything about position sizing? What is your money management plan if you have as series of losing trades and your account declines by 10% , 20%? 30%
Do you define the predominant trend on what higher time frame? Where do you set your trading levels at using S& R- What time frame?
could you teach a novice trader the best of what you have learned?
I try to tell my wife but they're all lines to her. I think I could teach her though. 
She'd probably make more than me.
How would you try to guide a novice- your method of taking trades? Do you have a level of confidence in your approach?
Can you trade only the best of what you have learned?
If you apply yourself to trade only the very best setups- with well defined Risk- would your trading business achieve better consistency
and profitability? the answer is that there would likely be a higher improvement in results-
How often are your stops too tight? Get stopped out only to see the higher move proceed after you get taken out-? What do you use to set your stops or the normal volatility in your time frame? Do you look to the higher time frame to get the overview?
My plan calls for dynamic stops. If the dynamic stop which is placed at a swing point is outside risk parameters, trade skipped.
Welcome to the real world of real $$$$.
Are you a responsible person? If I had known you, trusted you, and had given you the money in your account and asked that you take proper care of it- How would you be trading it?
Would you be taking 10 or 15 trades every day? Were those the 'best' trades?
Great questions. 10 to 15 per day. No way. That's too much. Best trades? No they haven't been. Today's been a yes to those questions. And I've experienced better profitability and consistency today.
Good luck in your pursuit!
HMMM- ARE you a good swing trader? Or did you just choose to enter directly into day trading?
Do you hold a separate 'investment' account - or is it all in your trading account/?
No need to answer me- Those are rhetorical questions ........
Let me add that in case that you find you are like myself- In the 90% or so that have sub par trading results- albeit moments of sporadic 'nailed it' trades.... I am thankful that i have an Investment account 1st- and the trading account came 2nd. The investment account has proven- in it's longer time frame- to have provided better long term gains over the past 4 years......
Not to interrupt your journal with the basics- but I suspect that many "Traders" here on ET
haven't bothered to fund an investment account- Sounds archaic -does it not? Why bother- after all?
An Investment account may simply use a longer time frame- WEEKS vs hours.......
Caveat Emptor added here- good luck in your future trades- Trade less- Trade the best.....
SD
Thanks for the well wishes!
