This will be a journal to help me stick with my goals and not over trade. Will be managing a futures account, and may add to that account with investor money. For those choosing to invest with me I will be using IB friends and family plan to manage the account. However, my own account is using a different broker for futures trading. Strategies: 1) Golden Cross 2) Money line 3) Silver Pin 4) Brook's HL and LH with overall trend. I am keeping an excel chart that I started today. I am not sure if I will post trades here, or do end of day summary.
I will be on demo to refine some of the newer strategies, then switch back to real money once I show positive results. Summary for today. 1) Day was trending down and was at new low on CL and ES when I started trading late due to not feeling good. I was looking to sell a LH and placed orders. On CL, my indicator turned up, but I ignored it since the trend was down. However, previously all indicator trades were winners, so I should have placed a trade long. On ES had order limit in at lower high. We got a news spike on Euro banks and order got filled and stopped out in seconds. I should have set price alert instead of just having an order out there waiting to get hit. Mistake number 2, I chased the spike with a long order thinking this was really good news, and got stopped out again. Should not have chased, should have waited for normal trade to setup. Shorted spike, target hit. Then since I still thinking this is great news, I bought support on 6E even though market had broken EMA to the downside which indicates weakness not strength. Support was broken, stopped out. So overall losing day. As Brook's says ignore the news, follow the charts. If I just did good setups, this would have been a winning day, but I did not follow plan. Chasing a spike is not a trade setup.
Trade is going against me, but has not hit my stop. Reason for trade, with trend trade and Golden Cross.
Target hit on CL, and stop hit on ES. I should have held CL for higher profit. Around BE for the day.