My Journal as a Professional Trader

Ok, so I decided to combine my current trading thread topics (below) in a journal, plus any future topics.


https://www.forexfactory.com/thread/...4#post14232314
https://www.forexfactory.com/thread/...4#post14231744

Today was good PA on the instruments I trade, which was nice considering it is a holiday week. I will not be trading tomorrow or Friday, though…

Said I wasn’t going to trade today, but saw GER30 looked good. So traded one of my small funded accounts.

After almost half hour and 6 very small losses, a +16R winner on the FB trade.

And although I did increase position size my total initial risk on the winner was only 1 pip. So $10 risk.

So as of next of next week, I will be live trading with a total of 110k equity, and plan to combine two 5k accounts so will have a 10k and a 100k live account.

My goal was to retire from my full time job by year 2025, however I was thinking of a way to perhaps speed up that TF…

My prop firm allows maximum of 600k account by combing smaller accounts. With a 600k account I could make enough money in a month to pay a whole years living expenses, provided I use the same risk parameters I currently use on my smaller accounts.

So that will be my goal. To trade a 600k account within the next couple of months, and retire from my full time job within 3-6 months.

Thereafter if I follow the scaling plan offered by my prop firm I could be trading a million dollar account at some point next year.

Can I do it? Have I truly learned how to manage the big accounts? Time will tell…

But if I do succeed, it will mean I found the path to go from trading 5k accounts successfully to trading over 1 million successfully…

Will be interesting to follow you. I am on the same path.

I’m remembering another strategy that if I employed today would have offered a better entry than where I entered.

Divergence trading with stochastic indicator. I think most traders are familiar with this approach.

in screenshot, green arrow is divergence entry, red arrow is where I entered

A divergence trade for +13R

Correction. Above trade/screenshots are using RSI not stochastic

Last trade is GER30 on m5

Yes Divergence. RSI or MACD.

Divergence trade on M5 US30.

+20R

The FB is what first caught my attention, then entered anticipating the BO long.

Lost my focus a little this week. Created a DD on both of my 5k accounts.

So although I did receive my funded 100k account yesterday, I decided I won’t trade it until I have at least a 5% gain on one 5K account.

Today I accomplished that on one 5k account. So I will prepare to trade the 100k account…

First trade on 100k account +8R winner.

My first day on my first ever 100k live account…

The good:

1. kept risk super low on every position
2. ended up with 1% gain on the day
3. average +R and average win rate was within my normal trading averages
4. recognized when my approach wasn’t working and either walked away from the instrument or adjusted approach
5. ended the day at peek profit level gained

The bad:

1. wasn’t as selective with entry points at times
2. traded at 3 time windows, and one of which wasn’t the best choice
3. missed the best setup due to not trading during best time window - when fed chairmen spoke

The ugly:

1. I had some gains that I later lost, so had to work through a DD
2. More than 60 trades taken, so was stubborn on a few setups

So all things considered, I’d give this trading day a C- grade…

The best setup of the day that I missed

SP500, divergence, and pin bar at support, M15

Was it really divergence or Powell speak ?

not sure why you are asking the question.

was it divergence? Yes.

do you understand what divergence is?

do you understand the chart and why I would have been in a long position regardless of the news, and before the fed chairmen spoke?

News events often times present opportunities

But news events do not in themselves indicate what price will do

the charts will give you the setup, and the news events will result in the volume that moves price

Traded while sick. Not good. Now a drawdown to recover

Recovery complete.

I think I’m leaning towards trading GER30 more than anything else. Easier to trade with a tighter SL…

up 2.3% after 3 days of trading, in spite of recovering from 4.6% DD. I’ll take it…

End of week update. Price was moving so well, I decided to keep going and target $3000 equity increase.

target achieved. So done for the week. 3 days of trading this account this week, and 3% gains….