I've never posted on this forum before and I am a new member. With that said, my name is Fox and I am extremely new to trading futures. I've been testing out paper trading for slightly over a few months and I'd like to start paper trading my own strategy.
I'm starting a trade journal because it's good practice and I'm making it public to stay honest. Also, I'm counting on getting called out on the many mistakes I will be making from time to time. With that said, let's begin. Note: everything is bound to evolve over time.
UPDATE 2/18
I have my set-up finalized. I'm going to write down my strategy by the end of the week. Hopefully....
UPDATE 2/23 (AFTER THIS POST START AT PAGE 2)
Strategy and Rules:
For now, I will be focusing mainly on CL, however I am not ruling out other instruments. These trades will be 1 contract at a time until I double my account, where I will be trading 2 contracts. As of now, its all papertrading however I am hoping to be live trading by the end of March. Account started at 6K. I will be trading micro-trends intraday, mostly based off price action seeking confirmation with my indicators for trends and reversals.
Rule: Write down trade journal entry after every complete round trip trade (this limits my frequency of trading)
Rule: Wait for confirmation from ALL indicators for entries.
Rule: In chop, trade the outer bands (referencing an indicator I use)
*There will be more rules as I progress, I just want to write down the ones that I want to commit to