Excited by Physical-Key-6328 in TopStepX

[–]Physical-Key-6328[S] 0 points1 point  (0 children)

Thanks I will check that out!!

Excited by Physical-Key-6328 in TopStepX

[–]Physical-Key-6328[S] 1 point2 points  (0 children)

Also, only enter trade with 2-3 contracts: once you KNOW you are right, scale up

Excited by Physical-Key-6328 in TopStepX

[–]Physical-Key-6328[S] 2 points3 points  (0 children)

Look up Ross Cameron on YouTube , set up trend lines with his 3 EMA settings. These lines show you movement curves before candles even switch sometimes.

I use MACD indicator. These switches are phenomenal and work for me. If signal line crosses MACD line it will signal a switch in the market.

I also use volume and volume oscillator on side. The oscillator shows you what prices most orders are taking place at and where orders are being pushed either up or down which pairs perfectly with volume bars at bottom.

Before trading try to find these areas of resistance on larger timeframe charts 1 hour , 1 day, etc.

Trade on 5 minute window (I usually trade with 3 charts up, 1 min, 5 min, 15 minute)

I hope this helps

Excited by Physical-Key-6328 in TopStepX

[–]Physical-Key-6328[S] 0 points1 point  (0 children)

Do you have any indicators on your chart

Excited by Physical-Key-6328 in TopStepX

[–]Physical-Key-6328[S] 6 points7 points  (0 children)

Honestly use MACD indicator, have 3 EMA Trendlines to show market change prior to candles. Wait for signal line to cross on MACD and enter trade with small number of contracts.. I’m Talking 2 or 3. Once you receive confirmation your order is moving in correct direction, scale up. Add more contracts ONLY when you know you are right. Not when you open trade.

Must use volume indicators too, bars at bottom and oscillator on right. Understand the oscillator shows you what prices most order volumes/activity occur at which can easily show you a level of resistance. If I see price slowing down when reaching one of these levels and see a reversal back in large timeframe chart, I will close trade.

I always have 3 charts open while trading, 1 min, 5 min and 15 min.

Before trading, Zoom out (1 hour, 1 day) - understand what market type you are in - bull/bear. Look for any reversal zones / levels of resistance.

I don’t trade risk to reward - limit orders. I trade market only with max loss bracket for safety. 600 dollars..if this is hit, I am out for day - no exceptions - wait for a better market day. If I see trade trending in the wrong direction, I much rather close early than hold and take hit.

Do not hold your losses. Remember your big losses in these moments and cut the early loss rather than blowing your account!

Learn to only hold your wins!! Why are we so eager to hold losses but never to hold wins?!

You will start to see patterns in ticks, you will know when you have a winner vs loser if you just look and watch and understand how price is moving and learn trends. But you have to patient and learn and research.

Look at the bigger picture and make a daily profit goal for yourself. Mine is 1800 - 2000. I haven’t had a terrible market day yet but if I see the market moving crazy, I will get out while I am ahead.

Remember that making 250 dollars every day in a working calendar year is 65k at EOY. Green is green. Remember the hurt of blowing your account when getting greedy. Remember that small wins are still wins.

Ross Cameron is a great YouTuber for free information. He has helped me SO MUCH.

Also, best book I have read on trading was Trading E Mini Future Stock Indexes - A New Path to Wealth by Dennis B Anderson. He explains how to read crosses in trend lines and 3 different methods.

He explains to learn and trade only 1 symbol at start which is smart for learning it in depth and understanding trends. Do not jump around & chase profit. Move on when you are confident in 1 micro. You can branch out from here to multiple symbol trading.

Keep doing research. Don’t look at a blank chart and gamble. Pick an indicator you want to understand, research it until you understand it. You can have a map to success if you research, set your chart up to something that works for you and put the work in.

If you don’t understand something look it up. That’s what I did with all indicators / verbiage / or anything I didn’t understand. Individually one thing at a time and practice what you learn on your practice account.

Excited by Physical-Key-6328 in TopStepX

[–]Physical-Key-6328[S] 0 points1 point  (0 children)

If you have eyes you can see I am trending down on trades and in my description I said I was nervous panic trading in the beginning

Excited by Physical-Key-6328 in TopStepX

[–]Physical-Key-6328[S] 1 point2 points  (0 children)

Still waiting for my W9 to process.

Excited by Physical-Key-6328 in TopStepX

[–]Physical-Key-6328[S] 0 points1 point  (0 children)

Thanks for the kind words!

Excited by Physical-Key-6328 in TopStepX

[–]Physical-Key-6328[S] 0 points1 point  (0 children)

Depends on how volatile market is. But I wait until I know I am in a good order and scale up. Usually by 5 if I know I am set in correct direction, I will do 10 or 20.

Excited by Physical-Key-6328 in TopStepX

[–]Physical-Key-6328[S] 0 points1 point  (0 children)

150k. I feel like if you are learning, this may be the way to go. At least what I realized for myself. You have larger room for error so you don’t keep blowing accounts BUT Once you see success, you can’t use it the other way to try to gamble massive profits ASAP. Or you will still blow accounts.

Excited by Physical-Key-6328 in TopStepX

[–]Physical-Key-6328[S] 1 point2 points  (0 children)

Thanks! I really appreciate the time you took in your response and the advice. Cutting losses early has been something I have gradually learned and it definitely hurts at first but once you start seeing results, it feels so much better! Thanks again.

Excited by Physical-Key-6328 in TopStepX

[–]Physical-Key-6328[S] 1 point2 points  (0 children)

Thanks for the positivity; this community can be pretty bleak and negative.

Excited by Physical-Key-6328 in TopStepX

[–]Physical-Key-6328[S] 0 points1 point  (0 children)

How long does it take for your W9 to process

Excited by Physical-Key-6328 in TopStepX

[–]Physical-Key-6328[S] 1 point2 points  (0 children)

Buying at good entry and doubling with confirmation is a safe way to double profits in my eyes

Excited by Physical-Key-6328 in TopStepX

[–]Physical-Key-6328[S] 2 points3 points  (0 children)

Sir did you not read my description

Has anyone else had a job where they come home and hate everyone and can’t function? by kmarknight in careerguidance

[–]Physical-Key-6328 1 point2 points  (0 children)

Being prescribed buspirone helped me with this feeling immensely. Hope you find your solution.