The Beast Slayer, Lance's NQ Trading Journal

October 21st, 2019, 08:42 AM

Thanks for your help. It all helps beginners.

October 25th, 2019, 10:30 AM

Blue Eagle

@lancelottrader miss watching the videos and your thoughts... hope all is good with you. Still in the game?

Craig

Thank you. Yes, still in the game. I've changed my setup a bit..different charting..etc. Getting more consistent results.In a later post I will talk more about this.

October 25th, 2019, 10:35 AM

trade888

In your video you mention going from 2 to 5 contracts and how that increased the anxiety level.
Going from 2 to 5 is a 150% increase in size and from 5 to 10 is a 100% increase.
Would you feel less stress if you added 1 contract at a time?
Going from 5 to 6 is only a 20% increase and thus would be expected not to affect your stress as much as an increase of 150%.
When 6 is routine then just add 1 more and so on.

I am sort of sticking to a plan I formulated a long time ago, which called for a specific increase in contracts after a determined period of consistency. The plan was always to go from 2 to 5 contracts. Then when 5 is mastered,and my account is built to a level I am satisfied with..my next increase will be to 10 contracts. So it is basically a doubling. To spend months going from 5..then to 7..will have no real benefit to me. There is a brief adjustment period when increasing size like this, but as long as one trades in the same manner and doesn't get overwhelmed with fear, then it shouldn't make much difference. I have certain income goals and the plan calls for increases in contracts ..after 10..the next jump will be to 20 contracts. This won't be for a while though.

October 25th, 2019, 10:39 AM

Rcap

Hello,

I read all of the 115 pages of this thread in the last days and i want to say thank you, lancelottrader, for sharing all this information. I really appreciate the time and effort that you bring in here.I also congratulate for your success and hope you are still doing well

I�m a Trader from Germany and i like volatile markets. Thats why this thread is very interesting for me. I used to trade the FDAX but i moved to CL. I still like the FDAX but its combination of a) tricky to trade because very thin and b) huge contract (>300k EUR per contract) made it very volatile for me... in terms of p&l as well as psychological.

When trading CL i look for swings on a 1 min chart. My usual stop is 10 Ticks and my minimum target is also 10 Ticks. In momentum i trade without target. I have a good feeling for the exit of running trades by focusing on volume peaks. That way i often get 30 to 40 tick winners. My trading depends on buyer or seller surpluses which i detect by watching the development of the 1 min candle in combination with speed as well as support and resistance. I only trade when there is a surplus in the market and when i believe i can feel in what way the surplus /the order is beeing executed (eg. offensive or defensive execution).

At the moment for me the only negative factor with cl is the high commission compared especially to EUREX futures. I trade with AMP on TT web platform.

Looking forward to have some contact and information exchange with other traders, especially CL Traders.

Your system sounds very good. I appreciate that you took the time to go through my thread. Do you find that 10 ticks is enough of a stoploss? I used to use 10 tick stops on CL, but I found I was taking a lot of losses. Even with great timing, it's very easy for cl to bounce back 10 ticks and cause a loss. I stopped trading CL for a while a couple of years ago due to the fact is wasn't moving well. Now, it has resumed good volatility so I will probably do more CL trading along with NQ.

October 25th, 2019, 11:12 AM

It depends on the volatilty. When it is more volatil i use Stops with 20 Ticks. 20 is my maximum stop, because when i use wider stops i tend to create too much opinion and loose flow.

I have 2 setups to identify that a surplus is being transacted (i dont like the word "setup", because its much more then just a technical setup as it takes into consideration the whole context)

1) Initial Movement (here i often use 20 tick stop)
2) Support/Resistance (here i often use 10 tick stop)

I totally agree with you that is very important to realize what the market conditions are. And in that, the most important thing is to know when to stay out. Winning money is relatively easy. The point is to avoid AVOIDABLE losses as much as possible.

Of course, many losses are not avoidable. Accepting this was a big step forward for me on the psychological side.

Do you like to see some pictures of my daily trades in your thread in future? Or should i open a new journal thread for this?

Have a nice weekend

October 25th, 2019, 12:06 PM

Rcap

It depends on the volatilty. When it is more volatil i use Stops with 20 Ticks. 20 is my maximum stop, because when i use wider stops i tend to create too much opinion and loose flow.

I have 2 setups to identify that a surplus is being transacted (i dont like the word "setup", because its much more then just a technical setup as it takes into consideration the whole context)

1) Initial Movement (here i often use 20 tick stop)
2) Support/Resistance (here i often use 10 tick stop)

I totally agree with you that is very important to realize what the market conditions are. And in that, the most important thing is to know when to stay out. Winning money is relatively easy. The point is to avoid AVOIDABLE losses as much as possible.

Of course, many losses are not avoidable. Accepting this was a big step forward for me on the psychological side.

Do you like to see some pictures of my daily trades in your thread in future? Or should i open a new journal thread for this?

Have a nice weekend

Sounds good. Yes, you can post some trades on this thread. I don't come on here as often as I did..but I will check it out.

October 25th, 2019, 12:07 PM

Nice trending move on NQ today. Been riding out bigger moves lately.

October 28th, 2019, 12:51 PM

lancelottrader

Nice trending move on NQ today. Been riding out bigger moves lately.

what kind of bars are those and where can you get them I like the way you can see the volume in the bars?

October 28th, 2019, 12:55 PM

As i am still new in CL, these trades are made in demo. Today are nices examples of what i mean with exit via volume peak.

What i forgot to mention is, that i also find sounds very helpul. I get a sound from t&s when a minimum of 9 contracts is traded market. (Of course different sounds for buy and sell). This way a) i get an alert when something is happening b) i can feel absorption in some situations.

It was a very good day with 68 ticks profit. Contract size 1 contract constantly.

October 29th, 2019, 05:55 AM

Rcap

As i am still new in CL, these trades are made in demo. Today are nices examples of what i mean with exit via volume peak.

I know Lancelotrader said you could post in this thread when you asked him, but personally, I would start your own journal.
Other traders will find it much easier to offer advice and see your progress if you start with some details of your experience, what your plans are, what you have tried, what are your goals, how you are progressing, etc.
It will also be a much more useful and comprehensive resource for you to look back through and learn from if you start from the beginning in a methodical way with all your relevant thoughts and insights in your own journal thread.
Just my suggestion. Good luck either way.

The Beast Slayer, Lance's NQ Trading Journal

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The Beast Slayer, Lance's NQ Trading Journal