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Trading fast markets
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Trading fast markets

  #151 (permalink)
Elite Member
prague, czech republic
 
Futures Experience: Intermediate
Platform: NT7, MT4
Broker/Data: LMAX
Favorite Futures: DAX, Gold, Euro
 
xelaar's Avatar
 
Posts: 1,517 since Feb 2013
Thanks: 1,739 given, 2,592 received

Here is what I want to add to my plan explicitly after doing 22 days of Combine trading:
- Rule X: accept that most days will be slow and churning, plan to be mildly positive for these days, don't push too hard when opportunities are not excellent, get smaller winners and be happy with them, use 5 cars positions
- Rule Z: when opportunity of a grand scale presents itself on any day and all lines up and looks good, forget about being timid, go jugular with 10-15 cars and ride it well

I accept these slow churning days as a new norm and embrace them. I will capitalize on great setups and opportunities and consider them being a main driver to my profit target.

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  #152 (permalink)
Market Wizard
Cleveland Ohio/United States
 
Futures Experience: Advanced
Platform: Tradestation
Broker/Data: various
Favorite Futures: futures
 
Posts: 2,388 since Jul 2012
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xelaar View Post
Here is what I want to add to my plan explicitly after doing 22 days of Combine trading:
- Rule X: accept that most days will be slow and churning, plan to be mildly positive for these days, don't push too hard when opportunities are not excellent, get smaller winners and be happy with them, use 5 cars positions
- Rule Z: when opportunity of a grand scale presents itself on any day and all lines up and looks good, forget about being timid, go jugular with 10-15 cars and ride it well

I accept these slow churning days as a new norm and embrace them. I will capitalize on great setups and opportunities and consider them being a main driver to my profit target.


This is what most people can never do - have the discipline to trade the day as it is given, not as the trader wishes it to be.

You have given people a true pearl of wisdom here. Many people won't see it, unfortunately.

If you have any questions please send me a Private Message or use the futures.io "Ask Me Anything" thread
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  #153 (permalink)
Elite Member
Guildford Surrey UK
 
Futures Experience: Intermediate
Platform: NinjaTrader, IG SpreadBetting with ProRealTimeCharts
Favorite Futures: DAX CL NQ EUR/USD
 
Posts: 82 since Nov 2012
Thanks: 356 given, 128 received


@xelaar,
Just to say thanks again for posting all your thoughts and ideas. Your openness and coolness is inspiring to me and has spurred me on to start preparing to do a combine.
Today I completed, ready for a period of sim trading, an Excel spread sheet to capture the NinjaTrader Export Grid.
From this, my formulas can instantly derive most of the TST Combine metrics, so I can measure my performance in my own environment before trying on a new platform.
I aim to start it next week, just as you accelerate toward the end of your Combine.
Keep up your good work. You are now ready for whatever comes and will take what the market offers with gratitude and that's such a great attitude you have developed.
Best
JS

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  #154 (permalink)
Elite Member
desert CA
 
Futures Experience: Intermediate
Platform: NT7, TOS
Broker/Data: AMP/wCQG, TDA
Favorite Futures: CL,YM
 
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It's most likely a web design oversight on TST's end, maybe failing to align the # of digits of every column in the fields of the table whether it's manual html or some other web scripting platform but ultimately I can't quite see how it's thematically related to this excellent journal of trading the combine.


Last edited by Cloudy; May 15th, 2013 at 05:29 PM.
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  #155 (permalink)
Elite Member
prague, czech republic
 
Futures Experience: Intermediate
Platform: NT7, MT4
Broker/Data: LMAX
Favorite Futures: DAX, Gold, Euro
 
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Day 22 stats

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  #156 (permalink)
Elite Member
prague, czech republic
 
Futures Experience: Intermediate
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Broker/Data: LMAX
Favorite Futures: DAX, Gold, Euro
 
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I worked my photoshop better this time!

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  #157 (permalink)
Elite Member
prague, czech republic
 
Futures Experience: Intermediate
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Broker/Data: LMAX
Favorite Futures: DAX, Gold, Euro
 
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Day 23 - lucky

Got lucky today. There was one genuine trading opportunity at 2:30 AM, although I was awaken for several hours by this time, I did not switch on T4 due to early hours and did not see it until after. Later gold moved down but again no any setups for me. When market keeps moving with no pullbacks I can't get it, as I need a zone of stop placement for the surge of order flow. Eventually we got a reversal or large pullback and I got my entry on a long side. It made a nice double top and was coinciding with small earlier pull back during the down move. I put two orders, 5 cars each with targets 12 and 30 ticks. The lucky component came from the news release that moved price quickly to my trigger zone and a surge of order flow took out my first target fast and I closed a second position at +24 ticks on a small. 30 ticks wouldn't be achieved. Then it made a larger pullback down before moving higher. I got used to these imminent pull back and thus placing smaller targets to get filled on a first blip.

I placed few test trades too, to check the how they get filled. I am considering an option to trade with almost non existent stop losses, like 1-2 ticks, on a premise that my best trades almost never have any drawdown or stall - move fast to the profit, so an option to get a fast stop out on a less than great trade can be a legitimate one. We shall see further. I used to trade euro order flow real money with something like half to one million euros positions at some point on forex exchange (lmax) with 2 pip stop loss and it was working fine until euro volatility died out about two years ago.

Anyway, I am up +1700 usd on the day. About 3500 to go. Testing 6e ranging strategy as a possible complimentary option for slow days.

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Give me few hours of hard labor with Paint (can't afford Photoshop) to produce another nice report!

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  #158 (permalink)
Elite Member
Guildford Surrey UK
 
Futures Experience: Intermediate
Platform: NinjaTrader, IG SpreadBetting with ProRealTimeCharts
Favorite Futures: DAX CL NQ EUR/USD
 
Posts: 82 since Nov 2012
Thanks: 356 given, 128 received

Good job.
Way to go
JS

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  #159 (permalink)
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prague, czech republic
 
Futures Experience: Intermediate
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Broker/Data: LMAX
Favorite Futures: DAX, Gold, Euro
 
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Lo and behold

Lo and behold of my binary .bmp alignment skills!
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  #160 (permalink)
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Brisbane, Queensland, Australia
 
Futures Experience: Advanced
Platform: NT8/JIGSAW
Broker/Data: MacQuarie Futures/AMP Clearing/CQG
Favorite Futures: ZB/FGBL/GC/CL/HG/6J/6M/6B/FDAX/NQ
 
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This is a really great result. Is the loss duration time going to be a worry or is it only one out of three criteria? Seem to recall something in the combine about that...

Well done anyway, really enjoyed following your work. Gold is very difficult to trade at times and you seem to have mastered this product.

XS

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