Hi All - long time lurker here. Finally decided to start a journal to chronicle my trades and facilitate discussions with like-minded traders. I consider myself a beginner and recently began trading live with micro ES. Purpose is to learn while minimizing losses. I have spent many months venturing through different trading styles and methods, and finally think I settled on one that fits my style and personality, while providing an edge. I plan on journaling here as a way for me to think "out loud" and force myself to review my daily trades.
Next Trade
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Why are you trading futures and what is your theory that describes your expected excess returns?
Here is today's trades and comments. I want to note that while the first trade for this journal seems to be a nice big winner, this isn't always the case 
Very lucky that this opportunity presented itself.
Trade #1 - I like to see engulfing on second 15min bar of the day. Usually means trapped early buyers. Because I trade with 1contract only, I can't keep runners, which would have been nice!
Trade #2 (missed) - nice reversal but wasn't on screen to take
Trade #3 - I liked this but would prefer engulfing.
Trade #4 - Leaning towards a bullish reversal but out at breakeven as price chopped. +0
Very lucky that this opportunity presented itself. Trade #1 - I like to see engulfing on second 15min bar of the day. Usually means trapped early buyers. Because I trade with 1contract only, I can't keep runners, which would have been nice!
Trade #2 (missed) - nice reversal but wasn't on screen to take
Trade #3 - I liked this but would prefer engulfing.
Trade #4 - Leaning towards a bullish reversal but out at breakeven as price chopped. +0
I started with futures because it allows me to bypass the PDT requirements. Secondly, there was a plethora of resources on trading futures that got me initiated, so I just stuck with it. Lastly, I am not a fan of equities as they are subject to larger swings and gaps from news (moreso than indices). I have experimented with daytrading equities using options and a cash account (no PDT requirements), but the mechanics of trading futures feels more comfortable to my personality.
Here is today's trades and comments. I want to note that while the first trade for this journal seems to be a nice big winner, this isn't always the case
Trade #1 - I like to see engulfing on second 15min bar of the day. Usually means trapped early buyers. Because I trade with 1contract only, I can't keep runners, which would have been nice!
Trade #2 (missed) - nice reversal but wasn't on screen to take
Trade #3 - I liked this but would prefer engulfing.
Trade #4 - Leaning towards a bullish reversal but out at breakeven as price chopped. +0
View attachment 242693
All the best to your trading.
Very hard to see your chart.
Could you please indicate with arrows on the chart when you entered the trade?
also please do something to the x and y axis font size because it is unreadable.
Thank you for the comment. I will try to fix this on my next chart I post.
Here is today's trades and comments. I want to note that while the first trade for this journal seems to be a nice big winner, this isn't always the case
Trade #1 - I like to see engulfing on second 15min bar of the day. Usually means trapped early buyers. Because I trade with 1contract only, I can't keep runners, which would have been nice!
Trade #2 (missed) - nice reversal but wasn't on screen to take
Trade #3 - I liked this but would prefer engulfing.
Trade #4 - Leaning towards a bullish reversal but out at breakeven as price chopped. +0
View attachment 242693
OK. I figured out your charts.
I presume you didn't manage to short ES during the European session.
That was where the trend started.
So that means your trade #1 entry during US session
was rather late ( but profitable).
trade 2 to 4 - be careful.
After the market moved decisively (in this case down), the subsequent move could be erratic / messy.
Personally, I either trade with reduced quantity, or don't trade at all.
Thanks for the answer. I meant specifically what are you trying to trade? Are you trading intra-day momentum? If so, have you analyzed the opportunity and fleshed out your leading indicators?
e.g. "low liquidity overnight drives price inefficiency in cash indices, enables futures traders to profit when the spread widens. By comparing the spread between cash indices and futures, there is an opportunity to bet on the convergence or divergence of the asset relative to its closing price. These price moves tend to mean revert through the overnight period, which allows a trader to hypothetically trade the cycle."
Yes that is correct, I only trade during RTH sessions.
Agreed on trades 2 to 4. I should be happy and be done after trade 1, but sometimes when I see set ups, I have to take it so long as it falls within my trading rules and guidelines.
I primarily trade price action and observe a few key areas for potential entries (e.g., O/N high/low, prior day high/low, gap, etc.).