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1:1 risk reward, and targeting win rate?


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1:1 risk reward, and targeting win rate?

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  #1 (permalink)
djporter91
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i've been wanting to get into futures day trading for a while, and i'm starting my regimen today. 30m-60m/day of trading the open(or before lunch really).

i'm using a basic setup: waiting for the 9/21sma to spread with the pSAR confirming, and then buying pullbacks into the 9ema and selling when they hit 4 ticks.

i'm also using 4ticks as a stop too. the ATR was like 10~ticks today, so things moved fast to say the least. average trade was 45sec. after 35trades i was down $113 after commissions, in a paper account.

is that a good idea with scalping or is it better to scale in your buys, and scale out of your wins? i'm curious as to what the different opinions are. i come from the trend following school, but i like the idea of having fixed targets and sitting on my hands to not interfere. Theres also a boatload of noise in the e-micro market, so 4 ticks can pass by in .2 seconds and not be part of a "move" at all.

any thoughts would be appreciated. this is my first post and im looking forward to learning more from this community and sharing what i can.

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 forgiven 
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the chances of making that idea works is not good . out running the slippage , commission , and over trading will not be easy day in day out. when you fail to make it work , then you will try to filter the pull backs . you would stand a better chance using higher time frames . like when when the ES is trading above the 8 day ema on the daily and weekly charts , take all pull backs to the 8 day ema on the daily with a 5 point stop. hold it until you make 15 to 30 points. use micro contracts if your cash account will not stand a 250.00 loss. that takes care of a lot of problems in your concept. commission, slippage , over trading , being glued to a computer all day long ... ect.ect

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  #3 (permalink)
djporter91
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i like that idea. idk if i can do that right now tho. $250 loss on a trade is a bit much. $5 at a time is a little easier to stomach! haha.

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  #4 (permalink)
 forestcall 
Tokushima, Japan
 
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I use a variety of indicators to help me to choose when to enter a trade. Exiting a trade is much easier as I am only interested in 5-10 ticks. To help with the whipsaw action and general noise in the trendline I use vwap/mvwap and of course support and resistance. I am working on an addon where I can click a button to adjust various time periods with vwap/mvwap in relation to ema and sma. Also I adjust the ATR calculation and I like to check the RMA and the SMA as SMA is not normally used with the ATR calculation.

In terms of when to trigger the stop loss I prefer to use 8 ticks instead of 4 so that I can ride some of the whipsaw activity. Also with the addon I am coding buttons to adjust the stop loss from 4 ticks to 8 ticks so I can quickly adjust when whipsaw activity is only 1-4 ticks. I don't look at this as slippage now that I have started using Bookmap.

Additionally, I have a chart with the ADX DMI strategy simply as a way to see how much of this data is matching up. I have Bookmap sharing the same monitor and I would argue that Bookmap is quickly becoming my most valuable tool for choosing my entries. I am still getting comfortable with Bookmap as it is an explosion of eye candy that my brain is still learning to process.

Part of the reason I am commenting in this thread is simply to help me organize my thoughts. So thanks in advance for forgiving me for this dizzy array of strategies.

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djporter91
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forestcall View Post

In terms of when to trigger the stop loss I prefer to use 8 ticks instead of 4 so that I can ride some of the whipsaw activity. Also with the addon I am coding buttons to adjust the stop loss from 4 ticks to 8 ticks so I can quickly adjust when whipsaw activity is only 1-4 ticks. I don't look at this as slippage now that I have started using Bookmap.

wait, so you have an 8 tick stop but a 5tick profit target? am i understanding that right?

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  #6 (permalink)
 forestcall 
Tokushima, Japan
 
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I am scalping. The trades last 1-3 min. If I have a tight stop then I will exit out with a loss. There is a whipsaw of 4-6 ticks in some trades.

How do you scalp 1-3 min trades?


djporter91 View Post
wait, so you have an 8 tick stop but a 5tick profit target? am i understanding that right?


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  #7 (permalink)
 Nadir22 
Cairo+Egypt
 
 
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If you factor in the commissions, your 1:1 risk to reward ratio doesn't hold in practice .

I'd suggest leaving that idea & move to at least 1.5R to 2R trades, indicators don't work IMHO - try moving to volume profile if you're looking for longevity as a trader.

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  #8 (permalink)
 dsheehan87 
Chicago IL USA
 
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djporter91 View Post
i've been wanting to get into futures day trading for a while, and i'm starting my regimen today. 30m-60m/day of trading the open(or before lunch really).



i'm using a basic setup: waiting for the 9/21sma to spread with the pSAR confirming, and then buying pullbacks into the 9ema and selling when they hit 4 ticks.



i'm also using 4ticks as a stop too. the ATR was like 10~ticks today, so things moved fast to say the least. average trade was 45sec. after 35trades i was down $113 after commissions, in a paper account.



is that a good idea with scalping or is it better to scale in your buys, and scale out of your wins? i'm curious as to what the different opinions are. i come from the trend following school, but i like the idea of having fixed targets and sitting on my hands to not interfere. Theres also a boatload of noise in the e-micro market, so 4 ticks can pass by in .2 seconds and not be part of a "move" at all.



any thoughts would be appreciated. this is my first post and im looking forward to learning more from this community and sharing what i can.



I donít use actual stops, but I target 2-4 ticks (sometimes it moves fast and I may end up with 6-8 as I do it all manually) and try to get out 0-4 ticks if it stalls but sometimes if I just think my placement was wrong, I may put another order in and try to win that one and get out of the first at scratch or profit if my correlations are moving in that direction.

I donít scale out. If Iím trading a 5 lot, and out all 5. I treat each entry as a separate trade.

The rest I canít speak to as I donít use charts or indicators...

35 trades though is a lot to be down for the day btw. Even though itís paper, try and condition yourself to end the day of itís not going well.

I had 36 trades today 100% winners (a very good hour of trading), but if I was trading bad Iíd never have traded that many times... otherwise you are digging a hole with fees.



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 dsheehan87 
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forgiven View Post
the chances of making that idea works is not good . out running the slippage , commission , and over trading will not be easy day in day out. when you fail to make it work , then you will try to filter the pull backs . you would stand a better chance using higher time frames . like when when the ES is trading above the 8 day ema on the daily and weekly charts , take all pull backs to the 8 day ema on the daily with a 5 point stop. hold it until you make 15 to 30 points. use micro contracts if your cash account will not stand a 250.00 loss. that takes care of a lot of problems in your concept. commission, slippage , over trading , being glued to a computer all day long ... ect.ect



I trade 30-50 separate trades a day (sometimes over 100). I risk 1-4 ticks (limit exit usually), I take 1-4 ticks profit, I win 80-90%, but like today, I was 36-36 100% winners. To try and pick direction is a losing venture. His ideas (though, I wouldnít use charts, indicators or market profile to trade because none of it works) are far less risky.

I agree the commissions can add up, but if you win, they are nothing to worry about. If you are losing 40, 50, 60% of trades you have more to worry about than commissions.

I have no slippage. Thereís no slippage on limit orders. Itís not possible.


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 forgiven 
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dsheehan87 View Post
I trade 30-50 separate trades a day (sometimes over 100). I risk 1-4 ticks (limit exit usually), I take 1-4 ticks profit, I win 80-90%, but like today, I was 36-36 100% winners. To try and pick direction is a losing venture. His ideas (though, I wouldnít use charts, indicators or market profile to trade because none of it works) are far less risky.

I agree the commissions can add up, but if you win, they are nothing to worry about. If you are losing 40, 50, 60% of trades you have more to worry about than commissions.

I have no slippage. Thereís no slippage on limit orders. Itís not possible.


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B.S.

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 dsheehan87 
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forgiven View Post
B.S.



Nope, not BS. Abandon your charts, indicators, market profile and nonsensical things like NinjaTrader etc and you can do it too, maybe.

Otherwise you simply puke your money to us.

Iím not selling anything or recommending anything, because I have nothing to sell or recommend. Iím just offering advice. I couldnít explain my ďsystemĒ because I have no system. I trade the edge I see.every day is different.

Limit orders. Small risk. Small gains. Adjust your trading for market conditions. No BS. No slippage. Avoid big losses.






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 planetkill 
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Mind sharing your performance from when you started doing this to now? It is much more helpful to see the performance stats so we at least know the historical value of your advice.


dsheehan87 View Post
Nope, not BS. Abandon your charts, indicators, market profile and nonsensical things like NinjaTrader etc and you can do it too, maybe.

Otherwise you simply puke your money to us.

Iím not selling anything or recommending anything, because I have nothing to sell or recommend. Iím just offering advice. I couldnít explain my ďsystemĒ because I have no system. I trade the edge I see.every day is different.

Limit orders. Small risk. Small gains. Adjust your trading for market conditions. No BS. No slippage. Avoid big losses.






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 forestcall 
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Juse curious why do you disagree?

Thanks


forgiven View Post
B.S.


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 forgiven 
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forestcall View Post
Juse curious why do you disagree?

Thanks

32 for 32 winners , win rates of 80 to 90 % . using limit order on every trade 0 slippage . 4 tick stops and targets.. can out trade a market makers order flow blot. 100 round turns a day .

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 forgiven 
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Mind sharing your performance from when you started doing this to now? It is much more helpful to see the performance stats so we at least know the historical value of your advice.

that is not going to happen. 100% pure B.S.

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 bobwest 
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forgiven View Post
that is not going to happen. 100% pure B.S.

@forgiven, it's OK to be skeptical, and to say why you are, and skepticism may be justified too (as with any claim of near-perfect results), but let's keep the language within our normal standards.

Thanks.

Bob.

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 Tymbeline 
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djporter91 View Post
the ATR was like 10~ticks today, so things moved fast to say the least.

What time-interval (or volume-interval) chart are we talking about, here, please?

It sounds a little scary, to me: like trying to catch a vibrating object whose natural vibration-range is bigger than the precision with which you can try to catch it, if you see what I mean? I think I'd be concerned about the percentage of potential takings that might be eaten up in commissions.


dsheehan87 View Post
Nope, not BS. Abandon your charts, indicators, market profile and nonsensical things like NinjaTrader etc and you can do it too, maybe.

A surprisingly dismissive view, perhaps, from someone listing NT as his own preferred platform?

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 forgiven 
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@forgiven, it's OK to be skeptical, and to say why you are, and skepticism may be justified too (as with any claim of near-perfect results), but let's keep the language within our normal standards.

Thanks.

Bob.

sorry my bad, the post is more like a trading vendor than the normal rank and file member posting .

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 forestcall 
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Well, when you lay it out all logical like that, it does seem a bit skeptical.

Iíve never had perfect days. I have days where I had less than $20 losses. But also Iím very conservative and tend to trade when resistance and volume and the trend all match. I also have a large balance so when a trade goes bad I just wait until it comes back. I make sure I donít have too many contracts so I could survive 700+ point reversal. I have had a few trades that reversed 80-ish points and I was rather uncomfortable the entire trade.

But yes I agree with your sentiment


forgiven View Post
32 for 32 winners , win rates of 80 to 90 % . using limit order on every trade 0 slippage . 4 tick stops and targets.. can out trade a market makers order flow blot. 100 round turns a day .


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 forgiven 
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most of the better traders i know , only have a win rate of about 50% . however there targets are 2 to 6 RR. its the money and trade management that make them better traders .

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 forgiven 
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djporter91 View Post
i like that idea. idk if i can do that right now tho. $250 loss on a trade is a bit much. $5 at a time is a little easier to stomach! haha.

use micro contracts , you will be trading more in the style of a swing trader. that will be easier to learn and execute than what your wanting to do .

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 matzero 
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Stick to whatever works for you and try to improve

Ignore all that "go only for 1/10 R", that's all unrealistic nonsense

Trading on low R/R depends highly on setup/win percentage. And yes, there are setups with low R/R but high success rates. Downside is that small change in market conditions on your personal performance will kill profitability

It's always better to skew R/R a bit if you can and in most cases you actually can do it by simply watching the market conditions and when your setup works better, either to get more from it or to simply avoid trading in unfavorable conditions

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 Fu510n 
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forgiven View Post
that is not going to happen. 100% pure B.S.

I can appreciate your skepticism though it sounds like he may be a "professional DOM trader from Chicago" who possesses skills that I (and a lot of other chart-only traders I presume) simply don't have. I've tried using order flow techniques over the years (Jigsaw, etc.) but it hasn't clicked yet for me well enough though I DO see some of the patterns they mention so figure it may be simply a matter of more screen time. Still, I would rather rely 100% on automation and trying to program order-flow changes in velocity/acceleration/volume that produce consistent results is taking me more time than I care to admit (but I've at least learned a LOT along the way). Over the past 10+ years, I've never be reliable enough discretionary trading (even though I've had my share of 100% winner/$2K++ days) so will stick with the automation route.

It's right up there with being a master of machine learning and other areas that take a LONG time to make any headway with and of course, NOBODY will ever simply give someone a "grail system" anyway. Those who do put in effort to learn ML, DOM, etc. are justifiably rewarded in the end.

My .02.

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JimPauley
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djporter91 View Post
i've been wanting to get into futures day trading for a while, and i'm starting my regimen today. 30m-60m/day of trading the open(or before lunch really).

i'm using a basic setup: waiting for the 9/21sma to spread with the pSAR confirming, and then buying pullbacks into the 9ema and selling when they hit 4 ticks.

i'm also using 4ticks as a stop too. the ATR was like 10~ticks today, so things moved fast to say the least. average trade was 45sec. after 35trades i was down $113 after commissions, in a paper account.

is that a good idea with scalping or is it better to scale in your buys, and scale out of your wins? i'm curious as to what the different opinions are. i come from the trend following school, but i like the idea of having fixed targets and sitting on my hands to not interfere. Theres also a boatload of noise in the e-micro market, so 4 ticks can pass by in .2 seconds and not be part of a "move" at all.

any thoughts would be appreciated. this is my first post and im looking forward to learning more from this community and sharing what i can.

I have a couple thoughts:

1) What made you choose 4 ticks, especially when the ATR is 10? If you try to make the market fit your specs, you will be disappointed. You can't make a 90 degree day cool down by wearing a jacket.

2) some of the best traders are wrong 40% of the time. Commissions and expenses would make them losers as well if they couldn't optimize winners and minimize losers. Let's say hypothetically you are 50/50 right/wrong in your market calls. If you were to set your profit targets to TWICE what your stop loss was, in theory you could be right 33% of the time and break even (before costs of course). Obviously it's harder when you need a 20 tick move to be right and only a 10 tick move to be wrong, but you get the idea that it's better to make $10 for every winner and lose $5 for every loser.

3) If you can afford it, trade a 2 lot instead of 1. Use your existing strategy for 1 of them and use NO PROFIT TARGET for the other one, and only a trailing stop. In theory, you could make 200 ticks on a trade if the market never comes off by 2.5 handles.

4) Plan the trade, and then trade the plan. Don't ad-lib based on a feeling. If you have a decent strategy and good position management you will win. If you fall in love with a losing trade because "you think it's going higher", you'll have a handful of trades that give back what dozens of winners have made.

5) Stay within yourself and don't increase your size until WELL AFTER YOU CAN AFFORD TO or read the last clause in #4

6) Good luck to you.

Jim

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 Fibbee 
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Its so much easier to just lean on a positive reward to risk ratio if you can simply favor making money over being right.

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 forgiven 
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Fu510n View Post
I can appreciate your skepticism though it sounds like he may be a "professional DOM trader from Chicago" who possesses skills that I (and a lot of other chart-only traders I presume) simply don't have. I've tried using order flow techniques over the years (Jigsaw, etc.) but it hasn't clicked yet for me well enough though I DO see some of the patterns they mention so figure it may be simply a matter of more screen time. Still, I would rather rely 100% on automation and trying to program order-flow changes in velocity/acceleration/volume that produce consistent results is taking me more time than I care to admit (but I've at least learned a LOT along the way). Over the past 10+ years, I've never be reliable enough discretionary trading (even though I've had my share of 100% winner/$2K++ days) so will stick with the automation route.

It's right up there with being a master of machine learning and other areas that take a LONG time to make any headway with and of course, NOBODY will ever simply give someone a "grail system" anyway. Those who do put in effort to learn ML, DOM, etc. are justifiably rewarded in the end.

My .02.

if you have a algo running , with a degree in computer science ya it could be done. he is not looking at a dome all day doing 100 round turns with out an auto execution and management algo. if he could do what he claims , he would be trading for Goldman .

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 martinhunting 
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A high risk reward ratio is a desirable as a function of probabilities. For example, lets say you are right about the market 70% of the time , and the risk reward ratio on each trade is 1:1. Thus, out of ten trades seven trades were closed with a profit of $1, while three were closed with a $1 loss The bottom line is you walk away with $4 .

If the ratio is increased to 3:1 and there is a decrease in the probability of winning trades from 70% to 40%. With the 3:1 ratio, for the same $1 profit , 4 winning trades would net $12, subtract the losing trades $6 , profit would be $6.

By decreasing the probability of winning from 70% to 40% while increasing the risk -reward ratio you increase profitability by 50%

The risk on a single trade should never exceed 1 % to 3% of the total portfolio. The bottom line , is the ability to have a small risk on any trade relative to your total capital so you can stay the distance . For the first year of trading if you can break even you are doing well.

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  #28 (permalink)
Goomba
Sydney
 
 
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1- Use Micro
2- If your TP is that much small in current volatile period then i would say dont put SL, wait for reversal signals and have TP only.
With current volatilyt you will end up with so many SL and so many trades that commision will eat up everything. Trade less.

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sklarm
Melbourne, FL
 
 
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Bro

Go to Trading Mission and stick with them and keep going. You will never look back and with your
Full account my very rough guess is you will make 2k-3k /mo. Reinvest it all and in 2 years you will be living the dream.

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  #30 (permalink)
 Joseph Connors 
Colorado Springs, CO USA
 
Experience: Intermediate
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Goomba View Post
1- Use Micro
2- If your TP is that much small in current volatile period then i would say dont put SL, wait for reversal signals and have TP only.
With current volatilyt you will end up with so many SL and so many trades that commision will eat up everything. Trade less.

Your point is well taken!

With the increased volatility in the market lately, you have to adjust stop losses. A good tool to use is ATR (Average True Range). Your stop should be at least 1 ATR. That will mean adjusting position to keep your risk the same.

Persistence! Nothing in the world can take the place of persistence.
Talent will not ... nothing is more common than unsuccessful men with talent.
Genius will not ... Unrewarded genius is almost a proverb.
Education will not ... The world is full of educated derelicts.
Persistence and determination alone are omnipotent!
Calvin Coolidge
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  #31 (permalink)
 Big Mike 
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sklarm View Post
Bro

Go to Trading Mission and stick with them and keep going. You will never look back and with your
Full account my very rough guess is you will make 2k-3k /mo. Reinvest it all and in 2 years you will be living the dream.

Please disclose your affiliation with this vendor.

Mike

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  #32 (permalink)
 michaelleemoore 
Market Wizard
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sklarm View Post
Bro

Go to Trading Mission and stick with them and keep going. You will never look back and with your
Full account my very rough guess is you will make 2k-3k /mo. Reinvest it all and in 2 years you will be living the dream.

Just an FYI: https://www.tradingschools.org/trading-mission-update/

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  #33 (permalink)
 planetkill 
New York City + NY/United States
 
 
Posts: 240 since Sep 2018
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Is it even worth it for 2-3k per month?

NYC minimum wage is $15 per hour. I can go flip burgers at shake shack and make 2.5k per month, without the risk of losing money, and get free shake shack!

Why bother?
Big Mike View Post
Please disclose your affiliation with this vendor.

Mike


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  #34 (permalink)
nckafieh
Los Angeles, United States
 
 
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I agree with most everyone else, however I know the dream you're talking about. The freedom and prestige that traders get is like nothing else. So why not pursue your dream with a very small account and continue working around the US open until you can make a few thousand a month and then size up. Just work a job, the losses won't be as scary. I'd say you really want the lifestyle so then keep pursuing it while working. I made $600 a week or so and lived at my retired aunts house successfully which was fooking amazing but eventually still had to move out even though she knew I was making over what i'd make at any job I got. But i'm anti-social not like you.

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  #35 (permalink)
 redneck4Christ 
Vancouver, WA
 
Experience: Intermediate
Platform: Jigsaw, MC.NET, ToS, SC
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Thanks for posting this. I read the earlier Trading Schools review in which he told about his 13 year-old son making over $1,000 following TS signals, so I signed up.

This is the email I just sent requesting my money back:

I HEREBY REQUEST A REFUND DUE TO YOUR FALSE CLAIMS

Trading Mission FALSE CLAIMS:

ďEveryday at 08:00am EST the Trading Mission community joins together to do battle with the Futures markets.Ē

Note that 8:00 AM EST is 5:00 AM PST where I am located. TM didnít start until about or after 8:30 AM EST.

ďÖwe focus on trading Crude Oil (CL).Ē

Two trades were done. Both were NQ.

ďWe are now live streaming our charts everyday between 08:00am est and 2:45pm est. This is a huge, because via this steam you also have access to our proprietary software called the Trend Oracle. This gives you everything you need to trade through the day with us making the best decision based on your own personal risk appetite and account size.

This ďTrend OracleĒ is a streaming data table with no instruction on how to use it. So the data shown is meaningless.

"On top of that I am still taking live trades on a live funded account, teaching my strategies and answering your questions.Ē

I asked questions in chat about the charts disappearing and the Trend Oracle and I sent the email further down this string and have gotten no response.

3 different names apparently logged into the chat session and said their version of ďGood morning.Ē And from 8:16 PST to 9:32 AM PST, 8 people timed out. When I timed out, I got a message indicating I timed out due to 120 minutes of inactivity. I saw no message or response on chat from anybody at Trading Mission.


1 Limit 10528.75 Filled 7/16/20 05:44:56 Buy NQ
1 Limit 10535.00 Filled 7/16/20 05:45:15 Sell NQ
+6.25

1 Limit 10534.00 Filled 7/16/20 05:46:33 Sell NQ
1 Stop 10548.75 Filled 7/16/20 05:51:04 Buy NQ
-14.25

Sincerely,

Jeff xxxxx

Email to TM:

Dear Carlos or others at TM,

I do not know what I am seeing on the Go-To Webinar. For about an hour, from about 8:45 AM EST to 9:45 EST, I saw a couple of NQ trades, one winner and one loser. Then I saw a switch to MNQ and then the charts were gone.

Is this normal?

Will more trades be shown?

Is there some instruction about what is left on the webinar?

Thanks,

Jeff xxxx

Crickets from Trading Mission....

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  #36 (permalink)
 planetkill 
New York City + NY/United States
 
 
Posts: 240 since Sep 2018
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Hopefully you bought it with a credit card within the last 6 months to chargeback
redneck4Christ View Post
Thanks for posting this. I read the earlier Trading Schools review in which he told about his 13 year-old son making over $1,000 following TS signals, so I signed up.

This is the email I just sent requesting my money back:

I HEREBY REQUEST A REFUND DUE TO YOUR FALSE CLAIMS

Trading Mission FALSE CLAIMS:

ďEveryday at 08:00am EST the Trading Mission community joins together to do battle with the Futures markets.Ē

Note that 8:00 AM EST is 5:00 AM PST where I am located. TM didnít start until about or after 8:30 AM EST.

ďÖwe focus on trading Crude Oil (CL).Ē

Two trades were done. Both were NQ.

ďWe are now live streaming our charts everyday between 08:00am est and 2:45pm est. This is a huge, because via this steam you also have access to our proprietary software called the Trend Oracle. This gives you everything you need to trade through the day with us making the best decision based on your own personal risk appetite and account size.

This ďTrend OracleĒ is a streaming data table with no instruction on how to use it. So the data shown is meaningless.

"On top of that I am still taking live trades on a live funded account, teaching my strategies and answering your questions.Ē

I asked questions in chat about the charts disappearing and the Trend Oracle and I sent the email further down this string and have gotten no response.

3 different names apparently logged into the chat session and said their version of ďGood morning.Ē And from 8:16 PST to 9:32 AM PST, 8 people timed out. When I timed out, I got a message indicating I timed out due to 120 minutes of inactivity. I saw no message or response on chat from anybody at Trading Mission.


1Limit10528.75Filled7/16/20 05:44:56Buy NQ
1Limit10535.00Filled7/16/20 05:45:15Sell NQ
+6.25

1Limit10534.00Filled7/16/20 05:46:33Sell NQ
1Stop10548.75Filled7/16/20 05:51:04Buy NQ
-14.25

Sincerely,

Jeff xxxxx

Email to TM:

Dear Carlos or others at TM,

I do not know what I am seeing on the Go-To Webinar. For about an hour, from about 8:45 AM EST to 9:45 EST, I saw a couple of NQ trades, one winner and one loser. Then I saw a switch to MNQ and then the charts were gone.

Is this normal?

Will more trades be shown?

Is there some instruction about what is left on the webinar?

Thanks,

Jeff xxxx

Crickets from Trading Mission....


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  #37 (permalink)
 redneck4Christ 
Vancouver, WA
 
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Platform: Jigsaw, MC.NET, ToS, SC
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planetkill View Post
Hopefully you bought it with a credit card within the last 6 months to chargeback

I did. A written request for refund is a key item VISA wants to see to process a chargeback.

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  #38 (permalink)
 michaelleemoore 
Market Wizard
Missoula, MT Nɫʔay(ccstm)
 
Experience: Advanced
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redneck4Christ View Post
Thanks for posting this. I read the earlier Trading Schools review in which he told about his 13 year-old son making over $1,000 following TS signals, so I signed up.

This is the email I just sent requesting my money back:

I HEREBY REQUEST A REFUND DUE TO YOUR FALSE CLAIMS

Trading Mission FALSE CLAIMS:

You're quite welcome.

mlm

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  #39 (permalink)
Goomba
Sydney
 
 
Posts: 6 since Aug 2019
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planetkill View Post
Is it even worth it for 2-3k per month?

NYC minimum wage is $15 per hour. I can go flip burgers at shake shack and make 2.5k per month, without the risk of losing money, and get free shake shack!

Why bother?

Damn,
Why waste your own capital while you are learning the ropes.
why not use some one like TopStep Trader or Earn2Trade, where you pass the simulation and get funded account.

I highly recommend to stay away from any paid services, Gur, furu and signlers, etc etc..
Internet is filled with plethora of good traders who show some of the easiest and good trading style and strategies for free..

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  #40 (permalink)
 planetkill 
New York City + NY/United States
 
 
Posts: 240 since Sep 2018
Thanks: 90 given, 197 received

Haha yeah I was making fun of the scammer.
The guy is marketing a low monthly profit of only 2-3k per month. At such a low amount, he is targeting some very desperate marks. It's like the Nigerian scam where they purposely use typos and grammatical errors to filter down to only the most gullible marks.

It's debatable if it's better to pay for the combines, or to use that money instead to trade 1 lot micros.
Goomba View Post
Damn,
Why waste your own capital while you are learning the ropes.
why not use some one like TopStep Trader or Earn2Trade, where you pass the simulation and get funded account.

I highly recommend to stay away from any paid services, Gur, furu and signlers, etc etc..
Internet is filled with plethora of good traders who show some of the easiest and good trading style and strategies for free..


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  #41 (permalink)
Goomba
Sydney
 
 
Posts: 6 since Aug 2019
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planetkill View Post
Haha yeah I was making fun of the scammer.
The guy is marketing a low monthly profit of only 2-3k per month. At such a low amount, he is targeting some very desperate marks.

It's debatable if it's better to pay for the combines or to use that money instead to trade 1 lot micros.

-------------------
Haha, no worries all good, i was just stating my opinion.
about combines, it is good only when you as Trader know that you are consistent and profitable on week after week or month after month.

for the majority, it's not the case and blowing up account happens so often. I wasted so much capital of my own, looking back I would have paid x many times for the combine incl reset with that same capital and in exchange would have learned and earned so much from my mistakes and experience plus you get to trade with lot more capital than the one time combine fees.

Its win win situation.

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  #42 (permalink)
 dsheehan87 
Chicago IL USA
 
Experience: Advanced
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Trading: ES CL SB
 
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planetkill View Post
Mind sharing your performance from when you started doing this to now? It is much more helpful to see the performance stats so we at least know the historical value of your advice.



I will post some stats, sure.

I can indeed win 90+% of trades (and I take a lot of trades).

I canít show you how (because I donít trade like most people and donít use charts or indicators or prices or MP), I just trade the order flow (I donít care about icebergs, flippers, breakout etc either).

But donít let my 80-90% win rate fool you into thinking Iím a good trader. Iím a bad trader because I have no self control.

I am a time bomb always waiting to blow up. I can and will win 99% of trades one week, taking 150-250 trades (not RT contracts but trades) in a week.

But then Monday will come along, and i put a trade on, target 1 handle in the ES, the market moves against me, and instead of getting out for 4-8 ticks, I sit on it until Iím 10 handles down lol. And itís not that my ďsystemĒ is bad - I just have no self control.

Does that mean my way of trading isnít reliable? No. Itís how locals trade and have traded even in the pit (the pit it was easier surely). If you trade like me and have discipline, you will be far better than me.

Trade like I do, but donít lose like I do.


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  #43 (permalink)
 Joseph Connors 
Colorado Springs, CO USA
 
Experience: Intermediate
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Trading: Futures
 
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dsheehan87 View Post
I will post some stats, sure.

I can indeed win 90+% of trades (and I take a lot of trades).

I canít show you how (because I donít trade like most people and donít use charts or indicators or prices or MP), I just trade the order flow (I donít care about icebergs, flippers, breakout etc either).

But donít let my 80-90% win rate fool you into thinking Iím a good trader. Iím a bad trader because I have no self control.

I am a time bomb always waiting to blow up. I can and will win 99% of trades one week, taking 150-250 trades (not RT contracts but trades) in a week.

But then Monday will come along, and i put a trade on, target 1 handle in the ES, the market moves against me, and instead of getting out for 4-8 ticks, I sit on it until Iím 10 handles down lol. And itís not that my ďsystemĒ is bad - I just have no self control.

Does that mean my way of trading isnít reliable? No. Itís how locals trade and have traded even in the pit (the pit it was easier surely). If you trade like me and have discipline, you will be far better than me.

Trade like I do, but donít lose like I do.


Sent using the futures.io mobile app



Thanks for the above!

Given what you have said above, I suppose the question most people would have is: Overall, do you make or lose money?

Persistence! Nothing in the world can take the place of persistence.
Talent will not ... nothing is more common than unsuccessful men with talent.
Genius will not ... Unrewarded genius is almost a proverb.
Education will not ... The world is full of educated derelicts.
Persistence and determination alone are omnipotent!
Calvin Coolidge
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  #44 (permalink)
 syswizard 
Philadelphia PA
 
Experience: Advanced
Platform: Multicharts
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dsheehan87 View Post
I will post some stats, sure.
I can indeed win 90+% of trades (and I take a lot of trades).

Please do. Avg win, Avg loss, Avg Net per day, Avg # of trades/contracts per day.


dsheehan87 View Post
I canít show you how (because I donít trade like most people and donít use charts or indicators or prices or MP), I just trade the order flow (I donít care about icebergs, flippers, breakout etc either).
But donít let my 80-90% win rate fool you into thinking Iím a good trader. Iím a bad trader because I have no self control.

You trade from the DOM/Ladder then ?


dsheehan87 View Post
I can and will win 99% of trades one week, taking 150-250 trades (not RT contracts but trades) in a week.

That win rate in the E-Minis is pretty hard to believe...unless you are spoofing like Navinder Sarao was :
https://markets.businessinsider.com/news/stocks/navinder-sarao-convicted-market-manipulator-flash-crash-book-excerpt-liam-vaughan-2020-5-1029208473
He was cheating of course and I think his win rate was "only" about 80-90%.

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