Trading Recap: July 2021

Bit late posting my monthly recap, but it's now or never. It sure as hell isn't going to be the latter so here it goes.

July has been a bit of a blur to be honest. I'm starting to find a bit of consistency. Most of the structural moves have played out to a "smaller" extent. Gold was a great trade given that I was able to cleanly flip my position from long to short.

EdgeWonk - July 2021

As you can see, my equity graph started trending up. I hope to keep this momentum going by focusing on my execution quality. It's finally happening and I think I am beginning to demonstrate the discipline I've always needed. With my trading in July, I've also scaled up my risk to full size of $40 and half size of $20 per trade. This is still smaller than the 1% per trade rule, but I expect to build up as I develop more confidence in my setups.

On another note, I had a major win earlier today. While I didn't write about this, I very recently started up Topstep again. Instead of focusing on the Swing Trading Micros Combine, I registered for the $50K Day Trading Combine. One key difference is that I have to be flat by 4:10 PM EST, which is fine for me as I intend to scalp the first two hours of the market open.

Tradovate Performance Center

I started this $50K Combine last Friday. I ended that day with a modest gain of just under $200. However, today is where I really killed it. I'm really happy with my progress of hitting an $1,000 day by consistently scalping ES, NQ, and YM using my volume bars strategy.

Of course, there will be good days and bad days so consistency and longevity will still be key. My performance today really goes to show that I can perform and execute very well if I really focus on optimizing my entries. One reason this works so well in futures is because of how fast the markets move. If you miss an opportunity, FOMO quickly dies as another opportunity will come within the hour.

I hope to get funded through Topstep, which should further allow me to reduce the FOMO because I will have less of a need to force trades in FX. My FX trading will continue alongside with this Topstep Futures Combine, but it will focus on longer structural plays.