So I decided to do the @Pearl challenge(I think it was him. I took all but $75 out of my futures account two fridays ago. I decided to stick to scalping. It’s very consistent and trend not needed. Basically just trade a small mean reversion are. Attaching some pics. I’ve grown it to $545 or so as of today. Just over a week. I plan to keep doing this and scaling larger. In a month or so I can switch from micro contracts to minis. Right bow most trades are MNQ(micro nasdaq) at $2/pt. Minis will be NQ at $20/pt.
So I decided to do the @Pearl challenge(I think it was him. I took all but $75 out of my futures account two fridays ago. I decided to stick to scalping. It’s very consistent and trend not needed. Basically just trade a small mean reversion are. Attaching some pics. I’ve grown it to $545 or so as of today. Just over a week. I plan to keep doing this and scaling larger. In a month or so I can switch from micro contracts to minis. Right bow most trades are MNQ(micro nasdaq) at $2/pt. Minis will be NQ at $20/pt. View attachment 255399View attachment 255400View attachment 255401View attachment 255402View attachment 255403
I haven't back tested it in a while, but NQ often uses the previous days vwap close as support. Today, that bounce was a perfect entry point for at least 300 points
Another beautiful tap (rejection this time) on yesterday's vwap (purple dashed line). Over 200 point drop (equals $4k per mini contact, $400 per micro contact).
I spent a lot of time trading a simulation account. I recently went back to my real account and it's worked out great. I had one of my best days trading futures yesterday. Lest not forget I've had some really bad ones. All in all I am very green on the day and year. Consistency and confidence is key. I've been focusing on Fridays mostly as I can watch and let things come to me. False breakdown reversals is all the I play and I stay out if market is in a downtrend. I traded 5 times today using 5 NQ contracts keeping a bullish bias based on age old santa claus rally.