I am creating this journal to record my thoughts regarding my daily trading performance and observations from time to time. I have been paper trading since middle Oct this year through my ThinkorSwim account. Until recently, I realized some problem with TOS's paper trading algorithm, which could potentially impact real trading experience. It is relatively easy to do scalping with TOS's paper trading algorithm since the limit buy/sell order is guaranteed to be filled at bid/ask as soon as last trade occured at these limit order price level. However, this might not reflect the real trading situation. I've switched to another paper trading software, in which buy/sell limit orders are only filled at ask/bid price. This has definitely made scalping a lot more challenging. For example, in order to scalpe one ticker, the price has to move 2 tickers above whatever your fill price is. Although my basic strategies are not about scalping for the spread, I do have to prepare to give up 2 tickers for every round trip trade I participate. Below are some my trading rules and guidelines. I day trade Emini exclusively. I do not trade the first 1.5 to 2 hours due to some reasons. I live in pacific time zone and have to attend my day job before 8:30am. Another reason I am not trading the first hour from open is due to the large volatitity, which I am not confortable to handle at my current trading stage. I close all my trades 10-15 minutes prior to closing bell at 4 pm eastern time. My trading strategies are all based on price/volume action. I do not use any other indicator except FIB retracement level drawing tool. Most of my winning trades are in the range of 0.5 to 1.5 points. My stoploss is rarely more than 1.5 points from my entry price. I use stoploss for every trade I enter. However, I don't necessarily wait for trade to be stopout at stoploss. This is another reason why I prefer slow and low volatity condition. I try to trade only one contract, but occasionally I break this rule by trading 2 contracts when I see high probability setups. Overall, I trade single contract for more than 90% of all my trades. I would stop trading any moment if my drawdown is reaching $200 during the day. I will take a break and review my trades during that day before I continue to trade again. I try my best to come out positive everyday after commissions, but it is inevitable I sometimes have negative day. I am ok with it if 1. the loss is less tha average daily gain, 2. I didn't violate my trading rules. Today is a negative day for me. My maximum daily drawdown went up to 175 at one time. I did come out with more winners than loser for the last 1.5 trading hour and managed to end the day with 75 loss.