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The Italian Job
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Created: by redratsal Attachments:31

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The Italian Job

  #401 (permalink)
Elite Member
Milan (I)
 
Futures Experience: Advanced
Platform: Ninjatrader
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6E long 4 contracts, target on R +882$
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  #402 (permalink)
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Milan (I)
 
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6E long 2 contracts, target on R +716$
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  #403 (permalink)
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Daily recap:
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  #404 (permalink)
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Very nice job with your journal Al.
A quick silly question: why scaling each 10 ticks, for CL and 6E, and not something else, like a fixed % of the contract value, or a % of the contract value with a kind of volatility weight, or something else.
I won't say a fixed 10 ticks is a bad idea, your journal proves it, but why not something a bit more sophisticated...

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  #405 (permalink)
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sam028 View Post
Very nice job with your journal Al.
A quick silly question: why scaling each 10 ticks, for CL and 6E, and not something else, like a fixed % of the contract value, or a % of the contract value with a kind of volatility weight, or something else.
I won't say a fixed 10 ticks is a bad idea, your journal proves it, but why not something a bit more sophisticated...

Hi Sam,

Your question is very pertinent, my answer a little less, simply because I didn't think about it and I was happy with the method. Your suggestion makes a lot of sense it could minimize the losses and maximize the profits. I will think about it, meanwhile if you have something more specific we might try it, at the end this is a trading lab. Beeing in part a discretionary system we cannot backtest it, we will have to test it live and compare it.

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  #406 (permalink)
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First trade with CL, took a stop management -5000$. The market is too volatile, my cumulated results would allow to risk more but I want to stick to my plan and stay within my limits. It was the first and the last for the day.
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  #407 (permalink)
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My daily recap:
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cumulative profit at quick summary https://futures.io/traders-hideout/11184-italian-job.html

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  #408 (permalink)
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That is what I meant at #406 do not move your stop management for a revenge trade, there will be tons of other opportunities, hopefully this is an unusual situation I will sit and wait until things get better. After my stop the market dropped 100 and more ticks in less than 8 minutes.
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  #409 (permalink)
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redratsal View Post
First trade with CL, took a stop management -5000$. The market is too volatile, my cumulated results would allow to risk more but I want to stick to my plan and stay within my limits. It was the first and the last for the day.
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With my last stop management there was no signs of retracement, the accelaration of volumes was a key factor, a good alternative would be to identify the process and to make a stop n go, as the market strongly retraced afterwards. This kind of moves are quite rare especially during the UK section, nevertheless a loss is a loss, I will be looking with the pace of the tape POT if any patterns can be identifyed in order to limit the damages.

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  #410 (permalink)
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This is a Pace of Tape, which I configured for CL, the session template is customized for my trading journey, starts 6am ends 3pm CET (more or less the European session). In red the high and consequent accelaration of POT, in Cyan below the treshold 150, in magenta an ema 200 of the POT, chart 21 tick(volatility under normal conditions is normally low during UK). I marked how the stop n go should be taken, does it work all the time, is it reliable, are these the right settings, look forward to test it. The POT would be used only to avoid or spot possible stop managements like this morning.
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Last edited by redratsal; August 5th, 2011 at 10:50 AM.
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