Getting back in The Game

D

doublea

I have traded in the past with moderate success, managed to make some here and lose some there. I have been out of the market for a few years and now want to give it a shot. I just funded my account and will start trading tomorrow. I will trade NQ and/or ES. I will try NQ for a month and if I am profitable and want to increase size, I may give ES a try.

My general method is trading divergences between indexes, primarily Russell, Nasdaq and S&P. The indicator that I use is MACD (4,13,4) and will trade on the direction of MACD only. It's a pullback method where I wait for the price to pullback and I want to see a divergence between the indexes. I expect the Russell to show strength before Nasdaq or S&P.

I will trade reversals too, when I see strong divergences between the indexes.

My target is usually 21 ticks. I have certain scenarios where it could be higher. I always use a trailing stop usually 1 or 2 ticks below the previous 5 min bar.

Wish me luck.
 
I was supposed to go somewhere but the person that was picking me up got stuck on a traffic so I had time for 1 more trade. My indicator and analysis pointed that a reversal was likley, so I had a short trade. I traded 1 only because the market has been really strong today. I got stopped out with a trailing stop.

Total: +243
 

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It was an okay day today. Traded good in the early morning with 2 winning trades. The last 2 trades were both losses. I should have used a trailing stop on the 4th one, which would have cost me 1 tick, but ended up losing 8 on that. This was a mistake on my part. Still positive for the day with a gain of 268.
 

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-$71 today on 2 trades.

Didn't get to trade in the morning as I had some other business to attend. There were 2 good long entries that would have been good for 21 ticks. The other actual 2 trades were both losses. In hindsight, I should have stayed out of the first one since Russell was diverging from Nasdaq and I should not have been long. On the second one I was expecting a reversal which did happen but I got stopped out (trailing stop) for a tick loss. I had another opportunity to go short after 12.15 bar which would have been good for 21ticks.

Even with the losses today, my losses are still small to my profits and I am able to identify the direction. Will see how tomorrow and rest of the month plays out to see if I want to continue doing this or not.

My ultimate goal is to be able to trade 10 contracts with an average gain of 21ticks a day, or 2 points in ES.
 

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Quote from emg:

what is your starting capital?
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$4,000 at this point, but if I can make money for the next 3 months, I can add more money to the account. My goal is to be able to trade 10 in 12 months.
 
Quote from doublea:

$4,000 at this point, but if I can make money for the next 3 months, I can add more money to the account. My goal is to be able to trade 10 in 12 months.
More...

are u using any type or plan to subscribe 3rd party educational/system/indicator vendors? is this a hobby or part time? Also, are u paying $4.02 per side in commission and fees?
 
Quote from emg:

are u using any type or plan to subscribe 3rd party educational/system/indicator vendors? is this a hobby or part time? Also, are u paying $4.02 per side in commission and fees?
More...

I don't think I understand your first question. I do not subscribe to any indicators/vendors. Like I said in my first post I trade divergences between indexes...pretty simple. For me it is part time because I have other businesses, that is why I am trading small with limited capital. I am paying $4.02 roundtrip.
 
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