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The Beast Slayer, Lance's NQ Trading Journal


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The Beast Slayer, Lance's NQ Trading Journal

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  #1611 (permalink)
 ChrisNucleus 
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nice vid!

Personally, I like seeing the trades unfold in real time... gives that sense of urgency a trader may feel to hit the break even or scratch button. Also, gives sense of 'hey if he can hang in there, so can I.' Just my 2 cents.

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  #1612 (permalink)
 lancelottrader 
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Trades from today. With the extra volatility, I do not use the 30 tick stoploss method but instead a 50 tick stop and 100 tick target.


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  #1613 (permalink)
 lancelottrader 
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Post Non Farm payroll news. Volatile session from today.


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  #1614 (permalink)
redbarntrades
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Lance, great finish to the week!

Have you considered taking off one contract when price is close to your target but is lingering and working the last one, since probabilities often decrease after strong move?

Thanks for sharing your trades!

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  #1615 (permalink)
 lancelottrader 
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redbarntrades View Post
Lance, great finish to the week!

Have you considered taking off one contract when price is close to your target but is lingering and working the last one, since probabilities often decrease after strong move?

Thanks for sharing your trades!

Thanks for watching. I don't really take off any contracts. Although math wasn't one of my strong points growing up, I find in my trading that the less I interfere with my trades and just allow the statistics and risk/reward ratios to unfold, the better results I get. To me, it means now, having a set stop and a set target. Now if there is some price congestion or something and it's only 5 or 10 ticks away from my target..occasionally I will close out the trade. What I am trying to do is have several hundred trades at certain risk reward ratios and really see what my win rate is. Is it 60% or 50%..or worse? With the 100 target 50 tick stoploss system..money can still be made at a 40% win ratio. I feel I am better than that. Even 30% loses fairly small.. Now my 30 tick stop and 90 tick target is not really good in this type of recent volatility. In fact I don't think the 30 tick stoploss is really that good in the opening hour of NQ either..Now on something like YM, it would probably work very well. In crude oil I think it also would be pretty good.

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  #1616 (permalink)
redbarntrades
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lancelottrader View Post
Thanks for watching. I don't really take off any contracts. Although math wasn't one of my strong points growing up, I find in my trading that the less I interfere with my trades and just allow the statistics and risk/reward ratios to unfold, the better results I get. To me, it means now, having a set stop and a set target. Now if there is some price congestion or something and it's only 5 or 10 ticks away from my target..occasionally I will close out the trade. What I am trying to do is have several hundred trades at certain risk reward ratios and really see what my win rate is. Is it 60% or 50%..or worse? With the 100 target 50 tick stoploss system..money can still be made at a 40% win ratio. I feel I am better than that. Even 30% loses fairly small.. Now my 30 tick stop and 90 tick target is not really good in this type of recent volatility. In fact I don't think the 30 tick stoploss is really that good in the opening hour of NQ either..Now on something like YM, it would probably work very well. In crude oil I think it also would be pretty good.

Thanks Lance for the detailed reply. Will look forward to seeing how your basket of trade percentages end up. I'm sure they will be more than satisfactory.

Like you mentioned before, you appreciate the lower stress levels with the set and forget trade.

Thanks for the contribution!

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  #1617 (permalink)
 FreddieKeys 
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Hi Lance my many thanks for your efforts in sharing. For my own progression in trading I'd love to know what software you are using to record your trades.

Thank in advance.

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  #1618 (permalink)
redbarntrades
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Regarding Lance's "system", I was asked if I knew what it is. Due to some tech problems, I am posting directly a reply here.

Lance uses the Trend Graber indicator which is found on Ninjatrader App Share. It was revised in 2021 and added some features which you can see for yourselves.

Here is a link:

https://ninjatraderecosystem.com/user-app-share-download/a-mahtrendgraber-2/

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  #1619 (permalink)
 kman 
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Lance thanks for your videos. Really helpful.
How is your combine with Lee Loo going?

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  #1620 (permalink)
 smlynnbo 
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kman View Post
Lance thanks for your videos. Really helpful.
How is your combine with Lee Loo going?

I am curious why people are going with Leeloo over Apex. They seem mostly similar, but Apex payout is better with 100% of first 10K vs 100% of first 8K, and 90/10 split from the start vs 80/20 first year with Leeloo before 90/10.

Am I missing something between the two?

Thanks,
Steven

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