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Trading fast markets

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  #101 (permalink)
 xelaar 
prague, czech republic
 
Experience: Intermediate
Platform: NT7, MT4
Broker: LMAX
Trading: DAX, Gold, Euro
 
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I am in a hotel right now after a day of race tranings at Brno MotoGP racetrack. Tired physically but wanted to look what market is doing. Some rally during O/N. Decent volume in a small range where price consolidated after the Comex open. Huge numbers on volume profile - 1000,2000, I though I was looking at ES

Had my eye on a setup, but it was smallish, and lots of steps on the stair right after. Price did make a jump of 15 ticks there. Without me of course. But a minor setup. Then another one, from 15 minute, looks better but some higher wicks prior to setup. I traded it with 10 contracts. It got me in and stalled, then waited for 30 seconds in 1-2 tick range and fell back. Lost 6 ticks plus commission. 650 usd total. But it was a valid setup, so no regret there.

Then I decided to look only for a better setup and had my eye on 700 level, with HOD stood shy of it 5 ticks. In previous days 700 provided a nice swing high where stops could be accumulated. I set my order and sat on my hands. Market did nothing for half an hour. And then started to move. I was on skype and just looked as it moved to my level, triggered and made a big jump. Fast fill on 10 and 30 ticks targets.

Totals net:
1 trade (650)
2 trade 1950
----------
1300

Now I stop and get well deserved rest.

BTW, this is my 9th day of second win streak. First was 7 days and ended with a losing day, the only losing day so far. I feel good about risk management and my patience. These two are my biggest faults still, and I started Combine to improve. Looks like it is working.



BTW I am only 4500 away from reaching the target, and 3 days still left to the minimum Combine duration. I hope to end it sooner than expected.

Trade well folks and don't overtrade!

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  #102 (permalink)
 Daytrader999 
Legendary Market Wizard
Ilsede, Germany
 
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You're doing a really great job my friend !

You are pretty close to the finish line, so just stick with your patience and discipline, then you'll finally make it for sure.

Keep up the good work, cu on the Squawk Radio !

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  #103 (permalink)
 xelaar 
prague, czech republic
 
Experience: Intermediate
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Trading: DAX, Gold, Euro
 
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Daytrader999 View Post
You're doing a really great job my friend !

You are pretty close to the finish line, so just stick with your patience and discipline, then you'll finally make it for sure.

Keep up the good work, cu on the Squawk Radio !


Thanks! I hope too. The most important I learnt it just to treat every day as just another day. Don't go crazy, don't put difficult targets. Market decides what you take home: joy or sorrow. Be humble. Market prevails!

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  #104 (permalink)
 Daytrader999 
Legendary Market Wizard
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xelaar View Post
Thanks! I hope too. The most important I learnt it just to treat every day as just another day. Don't go crazy, don't put difficult targets. Market decides what you take home: joy or sorrow. Be humble. Market prevails!

Yep, you're absolutely right. That's true 'textbook' behavior...it's really a great skill that you're able to act upon these facts accordingly...but it seems that these are truely some of the biggest issues most traders have to deal with...

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  #105 (permalink)
 xelaar 
prague, czech republic
 
Experience: Intermediate
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Came back home after the race. Did not plan to trade, was too late in the day, but popped the chart. Saw a perfect setup, so decided to take a plunge, just one as it was already after the Comex close. Price built up and then approached my level fast, making it a nice looking action. It triggered and went few ticks into profit and hanged. Given that it was late in the day, I killed it. Ended up with 3 ticks. Price then came back and could potentially stop me out and then went some 15 ticks into profit. Still a plus day, albeit small. Did another experimental trade. Just 1 ticks loss on 1 car.

Net on the day +235



And the trade log for last two days:


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  #106 (permalink)
 xelaar 
prague, czech republic
 
Experience: Intermediate
Platform: NT7, MT4
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Trading: DAX, Gold, Euro
 
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  #107 (permalink)
 jmsUK 
Manchester, Greater Manchester, UK
 
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Great job, @xelaar.
This is awesome.
You can keep going through the 20th day if you want, right: 20 is minimum?
Nearly there. You will finish when you are good and ready, I am sure
Best wishes
JS

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  #108 (permalink)
 xelaar 
prague, czech republic
 
Experience: Intermediate
Platform: NT7, MT4
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Yes, 20 day is minimum, I can do as much as 40 days, limit is set at 14th of June.

Today started early and at a wrong foot. Volume not very low, steady sentiment down, but apparently not much stops build up under the lows. Pushes down produced actually by market orders, not by some liquidation.

Opened the day with a small winner, just couple of ticks, closed prematurely as price action was slow. That would be at least 20 ticks winner. My bad. Then two full losers. Two good zones, but previous lows were dated several days back or even a week. To get stops build up we need recent price action, i.e. even if there was decent rejection at levels in a past, we need first to see market confirm it by getting rejected recently: today and yesterday.

Both trades would end up nice winners, first pullback that stopped me out was 6 ticks, right to my stop, and second was 9 ticks, my stop was 6. No need to draw conclusions, even if price moved right direction after, if was not on stops liquidations, but on sheer market pressure. So it lacks a vital component of my system that allow low-risk entries with tight stops: order flow traps causing stop orders liquidation.

I will go down to 5 cars from ten now to allow at least 2 more trades (if they are losers), and I will refrain from trading until Comex opens and I have recent price action at key levels.

Currently -1150 on the day.


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  #109 (permalink)
 xelaar 
prague, czech republic
 
Experience: Intermediate
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Well it's not all roses, sometimes every step you take ends up in a pile of turd. Today was one of those days.

It is Friday, but volume was high and moves were significant. O/N gold moved down and then continued down. Easy trade. But I made nearly only losses. Entries were not all perfect, but no undisciplined trades, no revenge trades, no boredom trades. I am happy in this department. A couple of entries weren't perfect in a sense they were based on price action dating a week back. Usually it is the best to have it re-confirmed with yesterday or today's price action. Since most of traders that make up a large share of volume trade intraday, older swings high and lows make not much sense in terms of already placed stops. That was a minor mistake I made.

The big mistake was inconsistency in trade management. I cut some trades short to get sure 2-3 ticks on first hesitation, and let others hang only to hit SL. It is pretty hard to cut trade that hangs around entry or in small loss, so the answer would be to let ALL trades work. 6 ticks is stop small enough to just risk it. If I would do that, I would have a positive day today. 2 trades were having 50 ticks of profit on table.

Now a time about disastrous trade. Not a Combine breaker, same 6 tick loss, but before it hit trade worked for 8 minutes (!!!! most of my trades well under a minute) and made 30 ticks profit. What is a reason it hit SL. Because I went to eat some food, left resting order on hoping that a sound would make me return to check it out, since I decided to let this trade run. Run it did. But I should come earlier, I did not even move it to BE.

Anyway, this is the lesson for me to work on next week, and very important one - I have been suffering from that sin all the time as I was trading: be consistent on trade management and let winners run.

I intend to go down to 5 contracts next week, allow up to 5 trades a day to lose (since with this trade management risk of stop out rises) 6 ticks each, so it is max risk 1500 usd plus 125 in commissions, i.e. 1625. All this risk can be mitigated by just one 30-ticks winner (almost).

This is my task for next week. No matter what - stick to this "let it loose" plan:
1. Entry with resting order, entry must be confirmed by today's price action rejected at key level
2. Leave trade with 30-50 ticks target (depending on swing sizes) and 6 tick stop
3. Watch trades but don't close with flatten button, simply wait for 1 minute (this is a compromise between 2 minute candles and closing on first sort of trouble) to close and move to BE, then trail based on 1 minute candle close, for large candles move stop into the middle of the candle.
4. Close trade on first opposing candle close.

This is it.




As you can see today made a huge dent into the expectations, now combine is expected to finish in 31 days, instead of 25 just yesterday, but if I stick to my plan outlined above strategy will prevail and there is a chance to finish earlier than expected.

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  #110 (permalink)
iankotze
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Yes today was damn tough, you kept good control on your down side and you are still very well poised to make it happen. Just keep hammering away man, you have what it takes.

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  #111 (permalink)
 jmsUK 
Manchester, Greater Manchester, UK
 
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@xelaar,

Thanks for posting.
Tough way to end the week, so it's a good thing you ARE tough
IMHO, I think you are absolutely right to look for bigger winners.
Even though your trade duration has been very short, you have made a lot of money.
In one way that is brilliant - (time in market x profit made = massive annual %age return on capital) however with your skill, knowledge and aptitude for timing entries in big momentum moves, you may find you can increase your profits by holding a bit longer.
This is just encouraging and supportive of your trading plan above and is in NO WAY meant as criticism.
Have a great weekend
Good trading next week.
JS

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  #112 (permalink)
 xelaar 
prague, czech republic
 
Experience: Intermediate
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Trading: DAX, Gold, Euro
 
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@xelaar,

Thanks for posting.
Tough way to end the week, so it's a good thing you ARE tough
IMHO, I think you are absolutely right to look for bigger winners.
Even though your trade duration has been very short, you have made a lot of money.
In one way that is brilliant - (time in market x profit made = massive annual %age return on capital) however with your skill, knowledge and aptitude for timing entries in big momentum moves, you may find you can increase your profits by holding a bit longer.
This is just encouraging and supportive of your trading plan above and is in NO WAY meant as criticism.
Have a great weekend
Good trading next week.
JS


Thank, man, appreciate it. One of the reasons why I look to increase profits and get away from those few-tics winners is that it will be tougher to trade this way live, especially with size like I put on Combine or more, without incurring slippage. So what works on demo or 1-2 car live with taking these 3-5 ticks winners consistently will be a breakeven trading at best when traded live with 10 contracts or more. The only good way to get away from this trap is to allow more losers and break even trades but capture more profit on winning trades. I have built a cushion large enough and took enough winning trades to pull this strategy in this Combine without risk of ending up with profit target hit but not passing due to failed metrics. I think taking it safely in beginning and using accumulated profit and metrics as leverage later is the name of the game. After all, this is how live money should be traded, and any new enterprise or experience should be built. Trading is no different.

PS in a perverted sense I am glad about today: good days won't change the way you do things, and I need this change to happen, only bad ones will make you stop the presses, think about and implement this change. I need to change, I need runners.

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  #113 (permalink)
 podski 
Belgium
 
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@xelaar

You're doing a great job but if you want some frank and honest feedback ... you are on the edge in terms of your risk taking. Testosterone and a wish to finish it off and make money are clouding your judgement.

Before last week, when you had a couple of those short days when you were racing and then came back to the hotel and saw and took those quick trades, your method was different. You were calm and patient. Before you would have waited for the excellent setups and you would have also taken the heat on those two tick losers while the trade picked up momentum.

In a word, impatience.


Here are the signs:
- 5 winning days in a row (your journal starts talking about a knockout punch)
- 2 days when you traded and won ... but you didn't plan to trade and got lucky with the timing ...(after a day of racing ... your head and judgement is not 100%)
- 7 winning days in a row now and you start to openly talk about finishing early ...you get (very well deserved) praise from @kevinkdog

What did your journal say on those days ... ? It should have said ... "I took a couple of shots from the hip and got lucky". Patience is an essential part of your edge.

Take some time to look at the two most recent webinars from Peter Davies from Jigsaw Trading (aka @DionysusToast) and Linda Bradford Raschke.

They both cover similar topics (liquidity, volume and price and the little wobbles that happen) and also will explain and illustrate a little how come you are exiting at precisely the best moment to take the trade. You will also see how come patience and timing are important.


You have an edge .. just don't forget where it came from. Like on the bike .. if you force it too early in the corner then you lose it. Wait for the right moment when you can see the line on the bend opening up .. that is your signal.

@syxforex has a nice little thought for you in today's Panda journal

"Two questions to ask before every pull of the trigger.. Is this an A+ shot, Am I being patient. Post it notes!"

You are a racer ... but you are not competing against anyone except yourself. 25 days ... 31 days .... 39 days .. it doesn't matter. 1 year .. 3 years .. 5 years ...15 years ... 20 years. These are the timelines that matter.

Have a great weekend! Everyone is supporting you !


p

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  #114 (permalink)
 xelaar 
prague, czech republic
 
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Hey, thanks for your post. I think you are onto something here. Winning streaks do affect judgement. However I must say all trades I took this week including Friday and those taken on race days were planned and disciplined. No blind shots like during the first losing day. WhereI failed is at unconsistent trade management so you are right about pointing out that I closed trades when they should be opened. Butthis problem did not appear just now, it just became very pronounced testerday as most setups however good did not have follow through so I have got many losers. Usually most of them have some follow through so taking smaller wins on slower trades pays off. This is the good side of a failed day like yesterday because it highlights the problem. Now I will just work on it. Next week will be dedicated to trading strictly according to the plan I posted above. I still have enough time in Combine left to afford this sort of experiment.

Anyway thanks for the sobering comment. Appreciate it.

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  #115 (permalink)
 xelaar 
prague, czech republic
 
Experience: Intermediate
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Trading: DAX, Gold, Euro
 
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After giving it lot more thought, especially after the comment from Podski, and rethinking my original and new plan, here is what I have came with - actually the new plan is, surprise-surprise, the old original plan, just that I did not follow it to the letter in a sense of trade management and scaling in, instead going for increasing size right from the start (I have to say market wasn't too cooperative with scaling in on many days).


However I have realized my another problem lies not in handling losers (this part I consider to be fine), but with handling winners, not only individual trade management but winning days completely. I tend to stop trading too early when market is fine for my method, so I frequently stop with a small profit and miss possible profits. However, overtrading is not the answer, so I will put a minor addition to my plan right here:
1. Still stop after having 3rd full loser for the day
2. Allow 3 to 5 trades per day, not counting break-even trades
3. Take ALL good looking setups until any of these two rules above kick in (3 losers or 5 resulting trades taken)

This will maybe add an odd losing trades on some days but will no doubt give more profit on good days. That again was a part of my original plan but wasn't written in quantifiable terms (3-5 trades) and in results I stopped trading on good days after reaching some marginal profits, way too short of my original profit targets for the second part of Combine where I am now (up to 3500 usd per day profit). I don't put any profit target on the day, as it is not up to me to hit it or not, but what I can control is my losses and how much and how good trades I am taking. And control these I will!

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  #116 (permalink)
 kevinkdog   is a Vendor
 
 
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xelaar View Post
1. Still stop after having 3rd full loser for the day

I know the way TST calculates winning and losing trades may be different for a person scaling in or out, but not counting yesterday, TST says you have 3 days where you had more than 3 losses. I assume yesterday was a fourth day of 3+ losses (by the way, could you post your current TST performance snapshot?).

So, my question: have you been able to adhere to the "quit after 3 full losers" rule up to this point? I think it is a very good rule for someone who needs to read the market everyday - it limits losses on bad read days.

THANKS

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  #117 (permalink)
 xelaar 
prague, czech republic
 
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I know the way TST calculates winning and losing trades may be different for a person scaling in or out, but not counting yesterday, TST says you have 3 days where you had more than 3 losses. I assume yesterday was a fourth day of 3+ losses (by the way, could you post your current TST performance snapshot?).

So, my question: have you been able to adhere to the "quit after 3 full losers" rule up to this point? I think it is a very good rule for someone who needs to read the market everyday - it limits losses on bad read days.

THANKS

Hi Kevin, thanks for commenting.
Yes, I have been adhering to 3 full losers rule. Yesterday I took 4, but only because I have split my last shot into 2 by halving position size, so first 2 were 10 cars each and last 2 were 5 cars each. T4 stats can show somewhat different, but you can see the truth by the time trade was taken from my spreadsheets. Some trades were entered as two positions 5 cars each with different profit targets, so T4 counts them as 2 different trades. For me though important is how much I risk in dollars, not how T4 breaks it down.




Stats-wise, I feel bad about the big winner I let turn to be a loser yesterday, by being absent, not only I lost 6 ticks instead of catching up to 30 ticks winner, but ruined my holding time stats with almost 8 minute loser. I don't think that is very important at this point, I am sure I can maintain other two metrics, and hopefully with more lengthy winners I am planning to take next week, my winner holding time will improve, and loser holding time will decrease.

Another small addition to plan after some consideration: I will cut trades right on the spot that after the triggering don't make any single tick of profit and hang instead at several ticks loss. As per trade screenshots review, these trades nearly never made to profit. This is different to a trade where it made at least a couple of ticks to profit and hung in there bouncing a little, this sort of trade has decent chance of being a winner and should be left alone. This is a hard call but I will try my best to cut non-performers right away.

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  #118 (permalink)
 podski 
Belgium
 
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xelaar View Post
After giving it lot more thought, especially after the comment from Podski, and rethinking my original and new plan, here is what I have came with - actually the new plan is, surprise-surprise, the old original plan, just that I did not follow it to the letter in a sense of trade management and scaling in, instead going for increasing size right from the start (I have to say market wasn't too cooperative with scaling in on many days).


However I have realized my another problem lies not in handling losers (this part I consider to be fine), but with handling winners, not only individual trade management but winning days completely. I tend to stop trading too early when market is fine for my method, so I frequently stop with a small profit and miss possible profits. However, overtrading is not the answer, so I will put a minor addition to my plan right here:
1. Still stop after having 3rd full loser for the day
2. Allow 3 to 5 trades per day, not counting break-even trades
3. Take ALL good looking setups until any of these two rules above kick in (3 losers or 5 resulting trades taken)

This will maybe add an odd losing trades on some days but will no doubt give more profit on good days. That again was a part of my original plan but wasn't written in quantifiable terms (3-5 trades) and in results I stopped trading on good days after reaching some marginal profits, way too short of my original profit targets for the second part of Combine where I am now (up to 3500 usd per day profit). I don't put any profit target on the day, as it is not up to me to hit it or not, but what I can control is my losses and how much and how good trades I am taking. And control these I will!



No need to "over think" your method @xelaar. You are doing fine! I agree that the setups you have been taking are good in all cases. Just remember you need two things for success.
a. the right market conditions
b. the right mental approach

It's also normal for males to be over confident. We are programmed for it. Too much testosterone. I read a great book recently called "The Hour between Wolf and Dog". It's great to read for any competitor. Learn to keep an eye on your judgement and mood.


Recently I have had a couple of days where I brought a previous day's frustration at missing out (a.k.a. fear of missing out or FOMO) to the opening of the market. I was going to take all those bloody setups and scoop hundreds of points out of the market. I was going to work those trades. Wallop. Bang. Boom. I got drilled.

We are not fighters. We are not warriors. We are not boxers. We are going fishing. Think of @Gary the CL Assasin. He kills the market by letting it trip up and fall over itself. He says.

"We get paid to wait. We wait to get paid."

You are doing just fine. Just don't rush it. Keep a smooth right hand !

p

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  #119 (permalink)
 xelaar 
prague, czech republic
 
Experience: Intermediate
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Trading: DAX, Gold, Euro
 
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I hear what you say. I think the biggest mental issue for me is when trade is happening desperately not wanting to get a loser instead of small winner. Thus taking small winners. Sometimes it prevents from taking a loser for sure, but also kills huge winners, and never prevents true losers from happening - those that never show any profit, triggering and then reverting to hit SL. Need to distance myself from "I want to be a winner" attitude. Need a more spectator approach.

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  #120 (permalink)
 podski 
Belgium
 
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xelaar View Post
I hear what you say. I think the biggest mental issue for me is when trade is happening desperately not wanting to get a loser instead of small winner. Thus taking small winners. Sometimes it prevents from taking a loser for sure, but also kills huge winners, and never prevents true losers from happening - those that never show any profit, triggering and then reverting to hit SL. Need to distance myself from "I want to be a winner" attitude. Need a more spectator approach.

This is the only thing we discretionary traders need to get right in order to move into the top 10%.

You know what it is that you need to get right and you have time to get it right.

You are in a great position. Enjoy it and you will learn to sit out those longer winners.

p

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  #121 (permalink)
 xelaar 
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I felt uneasy to start trading again today after all this talk in the thread here. But taking it slowly is the name of the game. It did not help market wasn't moving, albeit some volume was trading, in a very narrow range.

Again I waited for the first setup 6 hours. I was prepared not to take any trades today, and most likely won't take anymore - the movement is just not there. It's dead, Jimmy!

Anyway, took a setup, had just 10 ticks target because of slow day and next high 12 ticks away from my entry. It went 8 ticks only, I managed to close on stall at +4 and then it reversed. Right call, just very slow day. I am taking a revised approach on trade management and to assist me with visual judgement of a stall, I use now 20 second period chart instead of 2 range chart, I don't use it for trading, only for trade management, range chart just doesn't give a clue about how long it hangs in there, short-term time chart does.

So far +175 on the day.




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 iqgod 
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xelaar View Post
I felt uneasy to start trading again today after all this talk in the thread here. But taking it slowly is the name of the game.

Joke amongst chain smokers:

I read so much about the ill effects of smoking that I gave up reading.

More seriously, do whatever it takes to not shrink your circle of influence.

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 podski 
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xelaar View Post
I felt uneasy to start trading again today after all this talk in the thread here. But taking it slowly is the name of the game. It did not help market wasn't moving, albeit some volume was trading, in a very narrow range.



So far +175 on the day.

Nice !! Well done !

You are there to collect money ... not to sweat to make it appear !

No need to turn a day like today into a marathon ... there will be other days when the wind is at your back !

p

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 xelaar 
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Here is an opportunity I have spotted on CL, I am not trading CL for the Combine, but started to evaluate setups for potential use later on. Also trialing Jigsaw tools. CL is not as fast moving as Gold (today does not count), so apparently some leeway in both time and fluctuation should be give to setups on Crude.


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 xelaar 
prague, czech republic
 
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Getting a little bit lagging now, today my Combine became eligible for a review, but still around 6k lacking to get it completed. However, there is a time left till 14th of June, and once market conditions are good I will be upping the pace. I have started with 1 contract building up the cushion, now it is there and I am officially in the second half of the Combine, and now it is time to trade it with the size as it should be traded.


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 kevinkdog   is a Vendor
 
 
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Keep trading great!!!!

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 podski 
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xelaar View Post
Getting a little bit lagging now, today my Combine became eligible for a review, but still around 6k lacking to get it completed. However, there is a time left till 14th of June, and once market conditions are good I will be upping the pace. I have started with 1 contract building up the cushion, now it is there and I am officially in the second half of the Combine, and now it is time to trade it with the size as it should be traded.


Xelaar

Current average: 498
20 days go => 10K on target

You are on track.

Don't rush it. Work to eliminate those -2000 days/trades. That is how you will push it over the line.

What is the analysis on those ? Were the largest losers on trades with your positions ????

You are doing great.

p

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 xelaar 
prague, czech republic
 
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At the current average I need 32 days to complete the target. Well the losing days or their size is not the problem, it's smaller than expected size of winning days is somewhat problematic. Market itself provides much less opportunities lately and those of bad quality. Also, momentum seems to petered out, before Combine started and this big crash happened, Gold usually had big moves almost each days, while most of the day was in a small range, suddenly activity arrived and it starts to move well. Now there is less and less of moves like that. In a live trading that won't be a problem, I would just waited it out. In a Combine one is bounded by a specific time frame to complete, so I have to act within it. I just hope I can get at least enough marginal trading opportunities for these 6-10 ticks to get there in time.


podski View Post
Xelaar

Current average: 498
20 days go => 10K on target

You are on track.

Don't rush it. Work to eliminate those -2000 days/trades. That is how you will push it over the line.

What is the analysis on those ? Were the largest losers on trades with your positions ????

You are doing great.

p


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  #129 (permalink)
 xelaar 
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Today was another test of my strength not to fall asleep. I have to say I am very happy with the progress in my mental stature since I started trading Combine - I had no urges of taking a trade out of frustration or boredom, nor was I scared to pull a trigger. A reason to celebrate.

Other than that, an unbelievably slow day. Waited for 5 hours for the first setup, did not look strong, so I reduced my target to 8 ticks with risk 6. It run 21 ticks, but I got only 8. I feel no bad about, as next high was in 11 ticks or so and all moves that day before were reversing. This one reversed in around 20 seconds. And then run 100 ticks more but without an entry for me.

Then I took another 2 setups. First I bailed out at -2 ticks, it actually made 5 tick profit in split second and immediately reversed and stood above my entry (trade was short). Once I killed it it slowly moved to a profit. But then it has nothing to do with stops being liquidated. And then a similar setup, made 7 ticks profit very fast and started to pull back. Closed at +1. Very similar to setup #2, but this would be a full-on loser had I not close it.

In the end +275 on the day. Better than a loser, especially for such a slow day. Once market starts to move better and I start winning again, I will move up again on position size. I also look to start trading setup #1, large candle setup. I have seen a couple of opportunities today but lately they weren't working too well, so I did not trade them. I will keep watching them.




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  #130 (permalink)
 xelaar 
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  #131 (permalink)
 indextrader7 
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Your columns seem to have been a bit misaligned.


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  #132 (permalink)
Pedro40
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indextrader7 View Post
Your columns seem to have been a bit misaligned.

Man, what a fantastic contribution to the thread! If you want to accuse him of cheating, just say so. Otherwise you could have noticed the same misalignment in posts #100 and #125....

Probably just a screen display problem....

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  #133 (permalink)
 addchild 
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Pedro40 View Post
Man, what a fantastic contribution to the thread! If you want to accuse him of cheating, just say so. Otherwise you could have noticed the same misalignment in posts #100 and #125....

Probably just a screen display problem....


Almost as fantastic a contribution as this one! Don't put words in other people's mouths.

@xelaar , keep up the stellar trading!


Edit: I checked one of my reports that shows the same alignment issue

.
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 kevinkdog   is a Vendor
 
 
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In some of my previously posted trade report screenshots, if you look closely you can see some degree of misalignment in the gray columns...

#1

#2

#3

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Pedro40
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addchild View Post

Edit: I checked one of my reports that shows the same alignment issue

So you are agreeing with me, thanks.... But please translate it for me, what was the point of Indextrader's post?

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 addchild 
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So you are agreeing with me, thanks.... But please translate it for me, what was the point of Indextrader's post?

I can't be sure, but he has plenty of helpful posts, and usually has a positive demeanor. As far as I'm concerned he was just pointing out an irregularity, not accusing xelaar of doctoring his combine reports.

.
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  #137 (permalink)
 xelaar 
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Wow, now it became interesting. I have seen Index's post and also couldn't decide what is it about. I can see rather two versions: either it is a "friendly" suggestion that I have to work on my photoshop skills after I allowed myself one or two not even critical but rather simply not strictly praising posts in his journal and this is a sort of payback; or he suggests that I work as web designer for TST and my work sucks.

I can't really see any point why would anyone doctor results for publishing at futures.io (formerly BMT), especially with these much less than stellar results lately, but in case anyone wonders he can check out profile at TST page the full report is not available but the trade record is consistent with the report published. Of course someone could say I did hack TST website (or the whole Internet) just to look somewhat cool at BTM, but that would too much of achievement for me.

In any case, the only thing I can be really proud of is my development as disciplined and methodical trader, that was always a struggle for me and Combine helped me immensely. The results aren't so stellar though, I have started with a very specific system, that was giving plenty of ticks at the moment I put my trading plan together, but now it works less and less every day. I will continue the course and review things over the weekend. I will be testing a narrow-range entry time in the meantime so I can switch from my momentum entries to range-based reversals when market is in dolldrums like yesterday. I hope that Jigsaw tools I am working with at the moment will be a major help for me.

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 podski 
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I wouldn't give you a job as a web designer. Sitting around all day for 6 hours doing nothing !

:-)

p

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 iqgod 
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xelaar View Post
Wow, now it became interesting. I have seen Index's post and also couldn't decide what is it about. I can see rather two versions: either it is a "friendly" suggestion that I have to work on my photoshop skills after I allowed myself one or two not even critical but rather simply not strictly praising posts in his journal and this is a sort of payback; or he suggests that I work as web designer for TST and my work sucks.

I can't really see any point why would anyone doctor results for publishing at futures.io (formerly BMT), especially with these much less than stellar results lately, but in case anyone wonders he can check out profile at TST page the full report is not available but the trade record is consistent with the report published. Of course someone could say I did hack TST website (or the whole Internet) just to look somewhat cool at BTM, but that would too much of achievement for me.

In any case, the only thing I can be really proud of is my development as disciplined and methodical trader, that was always a struggle for me and Combine helped me immensely. The results aren't so stellar though, I have started with a very specific system, that was giving plenty of ticks at the moment I put my trading plan together, but now it works less and less every day. I will continue the course and review things over the weekend. I will be testing a narrow-range entry time in the meantime so I can switch from my momentum entries to range-based reversals when market is in dolldrums like yesterday. I hope that Jigsaw tools I am working with at the moment will be a major help for me.

Firstly I don't remotely think @indextrader7 intended to accuse anyone.

Secondly I appreciate @xelaar for openly sharing his combine attempt with the community - it not only takes courage, guts etc. but shows that you have faith in yourself, trust in the world at large.

And no, documenting a combine journey isn't "showing off" - a combine journal is all about the sweat, hard work, decisions taken on the spur of the moment - given the possibilities of what all can go wrong, building a solid track record is no mean achievement.

So folks, wave your white flags - and also wave a chequered flag for @xelaar so that he completes his combine with good cheer - I wholeheartedly support his development having gone through the labor pains myself

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  #140 (permalink)
 GFIs1 
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Hi @xelaar

Thanks for your interesting thread - YES! Kudos that you are sharing your results in this thread.
Posting on futures.io (formerly BMT) means self exposing a lot.
Posting statements here means exposing even more
There are always members not believing anything that is posted...
With more than 40k futures.io (formerly BMT) members that risk is that some +2k are NO-believers.
If you are calling trades live here (entries and exits) - even THEN the risk is to have
some repliers that do not believe - this is life!

Don't hesit - post more!
Good trades

GFIs1

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 kevinkdog   is a Vendor
 
 
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iqgod View Post
Firstly I don't remotely think @indextrader7 intended to accuse anyone.

Secondly I appreciate @xelaar for openly sharing his combine attempt with the community - it not only takes courage, guts etc. but shows that you have faith in yourself, trust in the world at large.

And no, documenting a combine journey isn't "showing off" - a combine journal is all about the sweat, hard work, decisions taken on the spur of the moment - given the possibilities of what all can go wrong, building a solid track record is no mean achievement.

So folks, wave your white flags - and also wave a chequered flag for @xelaar so that he completes his combine with good cheer - I wholeheartedly support his development having gone through the labor pains myself


I'm curious @iqgod, what do think is meant by indextrader's post?


Or, better yet, can @indextrader7 himself tell us why he made that post?

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 tihfa 
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kevinkdog View Post
I'm curious @iqgod, what do think is meant by indextrader's post?


Or, better yet, can @indextrader7 himself tell us why he made that post?

How about everyone take a chill pill and move on beyond any insinuations, negative interpretations etc...

Xelaar, please just keep going at your combine. You've been a great inspiration so far!

-tihfa

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  #143 (permalink)
 indextrader7 
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Really unbelievable! lol

The thought of "cheating" never crossed my mind. I've seen xelaar's live video's of his trading. He certainly knows what he's doing!

I was simply pointing out what it was that I POINTED OUT. The columns are misaligned!

My apologies for the stir! Interesting to see the reactions of different people though.

All the best xelaar, keep up the great work, and I'm sorry for the journal getting offtrack.

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  #144 (permalink)
 xelaar 
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Really glad to hear that! Peace, love and kumbaya to all of us!

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 podski 
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Wouldn't it be funny if we had the boys from TST on a webinar and they said ...
"xelaar , indextrader ... never heard of either of them !"
Just a little joke there guys !

Never doubted either of you. You can always trust surfers and motorcyclists !

p

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  #146 (permalink)
 xelaar 
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podski View Post
Wouldn't it be funny if we had the boys from TST on a webinar and they said ...
"xelaar , indextrader ... never heard of either of them !"
Just a little joke there guys !

Never doubted either of you. You can always trust surfers and motorcyclists !

p

We both were taking same crappy photoshop classes!

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  #147 (permalink)
 tinkug112 
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xelaar cross the finish line. One of the best/encouraging journal I came across...

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  #148 (permalink)
 xelaar 
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Tired today. I took only 2 trades. One I cut short as it went nowhere near my target, second could hit my target 20 ticks, but I cut it short at 7. Hard to trust it when most trades provide just a small blip my way. I am working on a reversal trade concept though.

Overall 2 trades, +7 and +7 on 5 cars each. Net +650 on the day.



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 FKtrader 
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Great journal,great trading plan great person!Im learning good stuff from you and i hope you will get funded from TST bc you really deserve it.Peace and love to all traders and happy trading

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  #150 (permalink)
 xelaar 
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  #151 (permalink)
 xelaar 
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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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 kevinkdog   is a Vendor
 
 
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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.

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  #153 (permalink)
 jmsUK 
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@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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 Cloudy 
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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.

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  #155 (permalink)
 xelaar 
prague, czech republic
 
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  #156 (permalink)
 xelaar 
prague, czech republic
 
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I worked my photoshop better this time!

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  #157 (permalink)
 xelaar 
prague, czech republic
 
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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.



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

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  #158 (permalink)
 jmsUK 
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Good job.
Way to go
JS

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  #159 (permalink)
 xelaar 
prague, czech republic
 
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Lo and behold of my binary .bmp alignment skills!

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  #160 (permalink)
 xiaosi 
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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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  #161 (permalink)
 GFIs1 
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xelaar View Post
I worked my photoshop better this time!

Show that ticket to your photoshop classroom - you will get a refund for your taken class!!
Keep up the good work!
Nice weekend
GFIs1

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  #162 (permalink)
 xelaar 
prague, czech republic
 
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xiaosi View Post
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

Thanks for good words, one of parameters is allowed to fail, but I don't like that anyway. It was more less in balance before a week ago I left a pending order with 50 ticks target and no trail, it was away from market so I went to have lunch to come back and see it run 30 ticks, reversed and hit my stop loss. Not only a loser but a loser with 8.5 minutes duration. Given that most of my trades are under 30 seconds, this screwed things probably beyond repair. I work to have winning trades larger than losing trades on average, should be fine.

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  #163 (permalink)
 xelaar 
prague, czech republic
 
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Good day to be trading my system. Too bad I had to miss a half day as I needed to bring my dearest half to the hospital, nothing too dangerous, I hope.

Anyway, gold went nuts, I felt like 3 weeks ago, I tried few entries, pretty much break even as I was working with a very very aggressive R:R settings. Eventually I was then sitting and waiting for one of two setups to kick in: long above swing high of the day and short below LOD with evidence of supporting price action to build up and order flow to start kicking. High never came to test, but after many hours of wait after 2PM CST (9 PM my time and I started at 11 AM) I got my fix. Did not get 21 ticks I wanted but it stalled on 15 ticks mark and I pulled it netting 14. It pulled back right after.

I am now very close and hope not to screw it. If I pass we shall see if they ask me to do a live trader prep or not.



+2100 on the day

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  #164 (permalink)
 Daytrader999 
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xelaar View Post
I am now very close and hope not to screw it. If I pass we shall see if they ask me to do a live trader prep or not.

You're just a mini-step away from your goal, so take care !

I don't think that they're going to send you through the LTP since your overall stats won't give them a reason to do so...but you'll never know until you reach that stage.

And my best wishes to your dearest half, I hope she gets well soon !

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  #165 (permalink)
 xelaar 
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  #166 (permalink)
 DarkPoolTrading 
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xelaar View Post
I am now very close and hope not to screw it. If I pass we shall see if they ask me to do a live trader prep or not.

Nicely done. Dont add any extra pressure on yourself. You've got time. Just trade well and you'll pass without a problem.

Regarding the live trader prep, I very much doubt you'll be asked to do it. They generally only ask traders to do it if they dont show consistency in their trading. For example if you have one or two massive winning days, and then you just break even the rest of the time. That doesn't show consistency. They will need more proof that you can actually trade. I dont think you will fall into that category.

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  #167 (permalink)
 jmsUK 
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@xelaar
+2100 on the day

Now that's a great way to finish the week!
A nice steady few days of remaining in the process should do it for you.
Keep up the good work.

Also best wishes to other half.
Nice weekend-you deserve it
JS

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  #168 (permalink)
 podski 
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Nice one @xelaar ...

Where are all those worries about 32 days now ??

Push it over the line next week. Slowly slowly catchy monkey.

It will be interesting to hear / see the full feedback from TST on your trading. How will they evaluate your risk management, your winners vs losers both in terms of time and size etc. Don't hold any of that stuff back (even if some of it is a little salty !)

In any case, have a good weekend and if you have to wait 6, 8 , 12 hours for the winner ... so what.

p

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  #169 (permalink)
 Big Mike 
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podski View Post
In any case, have a good weekend and if you have to wait 6, 8 , 12 hours for the winner ... so what.

p

I believe his average hold time is around 30 seconds.

Mike

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  #170 (permalink)
 podski 
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Yeah ... but his average wait time at the screen before making a trade is more than 5 hours !



p

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  #171 (permalink)
 xelaar 
prague, czech republic
 
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Thanks for all of your comments, appreciate it!

In regards to my worries: yes, winning a larger chunk of remaining profit objective gave a nice feeling. Another boost came from a validated super-low risk approach. However, the worry came from the fact I have chosen to trade Combine with a very strict system based on just two setups and decided not to trade any other way I used to. I think it gave me a huge advantage in terms of stability and consistency, however it posed a risk of market not giving me enough opportunities to trade within Combine timeframe. Something similar that happened to Kevin's Combine. I have been experiencing very slow period started with disastrous Friday 10th May and continued well into the week until a last Friday market exploded with moves and opportunities (although I missed almost all of them, but that not market's fault). In a hindsight it probably took a week of relative calm to cook this sort of intervention/manipulation and to orchestrate this sell-off (I do believe in a conspiracy behind market manipulations, especially in Gold and Silver, just check out of fixing probes and scandals in Libor, Electricity and now Oil price manipulation!). Anyway, now with just about 1500 of USD to go, I think I can manage it next week even on slow market, with the very small profit targets and micro stops, that I have been working on and testing.

In regards to TST evaluation and reaction: well I am interested how it will go as well, there is no guarantee they will even chose me for funding giving my "unorthodox" trading method and possible questions about what effect slippage will play, etc. In any case I have just made a major step in my personal trading journey and development as a trader. I have many other variations of order flow trading approach, including fading levels, rejections, barriers, all they work on most instruments, especially on currencies and indices where large options are being traded. But these approaches cannot yield anywhere large risk reward as the method I am trading, even if the hit rate is well above 60%. In any case, I am trading market during the liquid hours, most of my trades have nothing to do with news, and in no single situation I was bracketing the market for the news even in near proximity to the price. I took advantage of news release moving the price to my level in few cases, but again it was a level defined well before the release and not in immediate proximity. If TST/PTP will not like my approach I am confident to go live with it myself. I was trading similar way on Forex exchange (LMAX) two years ago and know that it works. Of course live market will give some slippage on large orders and R:R might get smaller, but this to be tested and adjusted. I truly believe it to be very profitable way to trade even larger positions live.

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  #172 (permalink)
 jmsUK 
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@xelaar,

I am sure many are watching you and rooting for you 100%.
Have a great week
JS

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  #173 (permalink)
 xelaar 
prague, czech republic
 
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Well this day arrived. I have done the profit target, and maintained two out of three required metrics. I have explained earlier why my losing holding time is larger, I screwed it up a couple of time with experiments and leaving trade alone.

Today is a slow day with some markets closed but Gold had a nice volume for this early hours and produced somewhat a reversal with possible long setups. I planned 10 ticks of the first one but it moved only 5 so I closed it at +4. A second setup for, I put only 7 ticks to be more realistic as this did not look as good as first one, but quite passable still, it moved 30 ticks, one of those wonder trades I had in the beginning when operating just 1 contract. Now with 15 it would be go figure.






I am very happy about putting this to the end, at least for the moment. I have a high emotional drain (even if I kept it away from my trading it did express in my other endeavors) and just physically tired sitting so much hours at screen each and every day for over the month, as I had waiting and fishing for those opportunities that became rare as time went. During the first week or two I was done in a couple of hours, and went for a bike ride, gym or something else. Now I had to forego gym, bycicle, running, etc in name of finishing it in time. I need back some of my life, finally.

It will be a shame if TST/PTP will turn their noses on my results, or ask me to do a lengthy LivePrep (short one is ok, I can just repeat what I did, I can't see any benefits it will deliver though after I did the same for 25 days). Worse still if they will put some restraints like minimum holding time for a winner. It will mean going back to the drawing board, testing, etc.

I had been testing other approaches during this ride, today I have a trade on Ninja Sim netting 31 ticks with 8 tick risk. But I wanted to keep Combine as clean as possible with just one system and two (and later restricted to just one) entry setup.

Very happy to finish so early today as I need to visit my wife in hospital and I was worried how trading Combine will go next days because the hospital permits visits that time pit opens and combining these two would be difficult. Giving that we expect our daughter to be born sometimes between 2 weeks and 4 weeks, or possibly earlier now, I did wanted to finish with Combine before this all will take my time, my mind and I could not concentrate until it is all over.

Thanks for all your support, it was an invaluable help and an accountability as I could not hide my trades and explain why I did step out of my plan. Thanks for being tough judges too

I will keep this thread updated on how TST process goes and how it all will end, or maybe begins.

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  #174 (permalink)
 kevinkdog   is a Vendor
 
 
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Congrats!!!!

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  #175 (permalink)
 mgcharl 
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Congrats! Consider me inspired.

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  #176 (permalink)
 xelaar 
prague, czech republic
 
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Wow that was a fast reaction! Thanks!

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  #177 (permalink)
 bobwest 
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Congratulations on this excellent Combine, and on your excellent work as you moved through your trading issues.

You've done a really great job here.

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  #178 (permalink)
 podski 
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Bravo !

Simply well done and great to be able to follow it.

Keep us up to date with any news from TST but take a little break from the combine now for sure.

A new baby !! Well ... that is a different kind of pressure altogether and a much more important deadline !

best regards

p

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  #179 (permalink)
 Vasilis 
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Great Job!! Congratulations

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  #180 (permalink)
 jmsUK 
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@xelaar

Great job. Well done. Thanks for keeping us posted: has been really good to see your success and detailed journalling.
Now you have set a target to aspire to..

Best wishes for the upcoming birth of your daughter

JS

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  #181 (permalink)
 xelaar 
prague, czech republic
 
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Vasilis View Post
Great Job!! Congratulations

Thanks! Caps, is that you?

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  #182 (permalink)
 iqgod 
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  #183 (permalink)
 xelaar 
prague, czech republic
 
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THANKS!

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  #184 (permalink)
 vk79 
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Congrats on an excellent job.
Good luck.

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  #185 (permalink)
 xelaar 
prague, czech republic
 
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Thanks, now I just need to remember to update the journal on the Report page before submitting it, I have stopped after a week posting in there, since it's very limited on size and no pictures, besides my journal here is way better, but perhaps they will inspect it, so need to update it till today.

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  #186 (permalink)
 Daytrader999 
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Very well done, you did a really great job !

And all my best wishes to you and your family for the upcoming birth of your daughter, this is one of the best things that can happen to you in your life !

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  #187 (permalink)
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Nicely done on the combine & a great effort putting the details here for people to learn from!

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  #188 (permalink)
 xiaosi 
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Well Done Xelaar, what a great job and such a great thread too.

Congratulations and good luck in your future endeavors!

XS

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  #189 (permalink)
 ABCTG   is a Vendor
 
 
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Congratulations, great job. This will definitely inspire others, too.

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  #190 (permalink)
 Lejcus 
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Congratulations, It was really inspiring to watch you go through combine. Thanks for sharing your results. please continue sharing how its going with TST after submitting wining combine.

“Life begins at the end of your comfort zone.”

― Neale Donald Walsch
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  #191 (permalink)
 xelaar 
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Lejcus View Post
Congratulations, It was really inspiring to watch you go through combine. Thanks for sharing your results. please continue sharing how its going with TST after submitting wining combine.

Takze dekuji!

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 indextrader7 
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012



Great job sir. Way to finish strong.

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 Surly 
denver, colorado
 
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Congratulations xelaar - very nice discipline and commitment through your combine. Correct me if I'm wrong, but is this the first time a trader on futures.io (formerly BMT) has successfully completed a combine? If so, its another reason for congratulations!

Seek freedom and become captive of your desires. Seek discipline and find your liberty. - Frank Herbert
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 omni72 
Tulsa, OK
 
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Excellent work, @xelaar! Congrats and thanks for sharing your journey with your futures.io (formerly BMT) family

Looking forward to the next chapter


Luck is what happens when preparation meets opportunity. ~ Seneca
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 xelaar 
prague, czech republic
 
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Surly View Post
Congratulations xelaar - very nice discipline and commitment through your combine. Correct me if I'm wrong, but is this the first time a trader on futures.io (formerly BMT) has successfully completed a combine? If so, its another reason for congratulations!

Thanks. Actually we have a member who completed Combine just last week, and some did that earlier. I am interested to know, though, how many completed it from the first try.

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 lancelottrader 
Legendary Market Wizard
west palm beach florida usa
 
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Excellent job.

Failure is not an option
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 xelaar 
prague, czech republic
 
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that it's over now.


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 Big Mike 
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 Daytrader999 
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Ilsede, Germany
 
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Congratulations again ! Now I'm already very curious whether or not they want you to go through the LTP...

Please keep us in the loop !

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 Silver Dragon 
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Cincinnati Ohio
 
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@xelaar

Congrats my friend!! Very nice indeed!!

Robert

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