Price Action Swing Trading Futures on Sim Journal

idk why the hell I can't give it up lol. I've been more active on ET lately and have decided to paper trade in order to develop better price action skills. I abandoned longer term trading in favor of intraday stuff about 2 years ago. My account had dwindled to such a low level i felt intraday margins would give me my best shot at actually building back up some. It didn't. I suck more at day trading than anything else i have tried. I also don't have time to sit in front of the computer all day anymore so swinging minis and micros sounds like a good time to me.

GOAL: triple my account balance in sim before considering trading live again. If i blow up instead, try try again. Looking to post trade ideas for critique and advice from forum members.


- starting balance is $3000 (current balance $3198 after first week), with live data feed on Tradingview's paper account.
- using range bars, support/resistance, some playing with regression trend lines & fib retracement levels. NO volume or oscillators, or moving averages, envelopes, etc...
- This is a list of products that I would consider trading live and will stick to them throughout this journal.


- trade duration and profit target will vary from product to product but looking to capture points not ticks.
- stops will be structure based and or time based.
- Entries will be triggered by retracements in longer term trends and the ol' "buy support/sell resistance".

Pretty crude layout i know but this journal is all about working on and refining the basics of TA before going live again.

thanks.

 

Was afraid to find Padu as OP.
Best of wishes to you Z.

 

Edge is negative with microstructure and costs. Read Bennett's book on vol (I hear that it's good) and develop an edge in vol. Swinging in macro is your only (other) shot in D1.

 

I would bet any amount that something >90% of the regulars on the ES Journal are net losers (lifetime). Kind of scary when you look at the returns on passive index investment. At least with shares you've generally got a coupon (div) and costs are zero.

 

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sounds about right. actual edge can only be found in the hardest most complicated shit.

 

Basically... yes.

 

Good Evening zghorner,

I knew you be back. We all are addicted like crack heads.

 

Some, actual.

 

Hello zghorner,

Do you think a millionaire trader reading your journal is

A. Laughing at your post
B. Typing a response on how to help you be a millionaire trader

Which one?

 

C. never even heard of elitetrader