My analysis today was pretty good. I was patient and waited for FVGs for entry points. I was pleased to find out that Ninjatrader (or me) accidentally deleted the workspace I had saved so when I made a new one it did not automatically log me into topstep so my nice green day was all done in the simulator. Nonetheless I did not know that at the time so I traded well without knowing that anyway. Tomorrow begins the journey back to using my own capital. I am done with the eval accounts and all the funded crap. I will do that when I am ready to seriously size up exponentially but for now there is no reason to be doing an eval account when I am too inconsistent. Like bella says, Consistency, Sizing, Edge Expansion. I am lacking massively in consistency and instead of focusing on that aspect I skipped to sizing and that is just a cardinal sin in trading that everyone knows about. I need to take it back to basics and use 1-2 Micros per trade and grow my account slowly that way and if I do well over the course of 3 months then I will be able to size up or use an Eval account again.
We have tons of FVG on multiple timeframes here. Firstly the largest FVG is a 1h where I was unsure to draw it the whole way through 2 1 hour candles or not but I just did it anyway. We moved up into the 70% level in that outlined 1h FVG box. Within that we have many of other 15m FVG that were filled to the upside today. I did not trade any of these higher timeframe FVGs but I was leaning short because we were working out way up into one throughout the session. I was ready to take any FVG short that made itself available and that is exactly what I did.
- This trade was a FVG (SIBI) and was a Reversal trade. It feels weird calling this a reversal because it was after the big drop but instead of timing tops like before now I can use FVGs to get better entries on these reversal trades. This was before 10am so I was not willing to try to hold for some obscure target and today was still quite high ATR so I was very willing to scalp these 5 pointers. I only call this a reversal also because I was shorting above the Open Price of the day. Again like I said in my last post, if I am reversing the intraday then also reversing the weekly open price then I need to not be holding for a long period of time. I need to only be scalping those moves because I am fighting multiple time frames. I really like this little scalp and I was also going in the trend of the internals which were all also going lower and quite rapidly. I think I should have probably held to target of SSL but I did not do that and rather just took the scalp. A win is a win
- This was a futures imbalance trade in which I used the RTY instead of the M2K which means this 1.5 point trade was worth $130. Im not happy with the fact that I traded with 20x the size I wanted to use cuz I fucked up but I cant really be mad about a big win. Its in the sim tho so that was god being like "ahhhh u thought pussy." Picture perfect futures imbalance trade that I should not have scalped to fast and rather shouldve held to my original target which was a break past the BSL or previous lower high. Had I held to target then this would have been a 4.5 point trade which again is great when its before 10am. NQ ES YM all were moving quite strongly up at the open and that is why I took this. Simply an imbalance. I know these trades are meant to be very fast scalps and nothing more because if you hold these you are just playing a game of "where will the trend be today" when nobody knows yet. Take the small profits and move on. NQ was also breaking down when I took this long so I wanted out.
- These are 2 dumbass trades I took for no reason cuz I cancelled my topstep sub and I was like fuck it lets do something lol. No setups nothing to talk about. just dumb
ES was very ugly today and here is why:
1. Large range day on friday
2. London session (2-830) swept the highs and the lows of the Asian session (20-2)
3. Monday with no high impact news
These events are part of a Seek and Destroy Price Action model. Any of the below events occurring will aid in choppy trading environments and low RVOL. As we know, volatility is very good for us because the movement is much cleaner and worthwhile. When RVOL is low we fakeout a lot and its a much lower probability environment.
Other notable opps
- I told all my friends to watch this SSL zone and I said a reversal is possible once the stops are taken at SSL. That is exactly what happened. Sadly, it never came back after the FVG it made so there was no entry but I was really happy that I saw this coming and then I waited to see if it gave me a chance to get in and it just didnt and that is totally ok.
- NQ did a similar move although I did not expect or callout this one as I was not watching it very closely. It hit the PDL which is a clear SSL zone and ontop of that it is the OP(Q) which is a very significant level. We bounced off that and had a huge reversal.
- Looking back there is actually an FVG here that wouldve been an entry point on the NQ for the breakout of the previous high which is about 34 point gain.