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Trading fast markets
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Trading fast markets

  #331 (permalink)
Elite Member
prague, czech republic
 
Futures Experience: Intermediate
Platform: NT7, MT4
Broker/Data: LMAX
Favorite Futures: DAX, Gold, Euro
 
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Posts: 1,517 since Feb 2013
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Now with the nice cushion above profit target, I believe I can afford to introduce a new setup, to make things less boring. I also expect, they want to see me trading something more than just one setup, to make sure I have more ammo if market will be not beneficial to the thesis I use a base of my entry type (something I don't think ever happens as long as people are using same technical analysis and stop loss orders). I have few setups in development, and I think I can introduce little bit more risk into LTP by trading additional setup with just couple cars. The setup is based on limit entry, so liquidity is never a concern and it can be traded with a lot of size potentially. Risk is equally small as in my main setup. Both are based on the same order flow principles. I think it can also add some interest for all parties: TST, my journal followers and myself.

Trade to live. Not live to trade.
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  #332 (permalink)
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xelaar View Post
Now with the nice cushion above profit target, I believe I can afford to introduce a new setup, to make things less boring. I also expect, they want to see me trading something more than just one setup, to make sure I have more ammo if market will be not beneficial to the thesis I use a base of my entry type (something I don't think ever happens as long as people are using same technical analysis and stop loss orders). I have few setups in development, and I think I can introduce little bit more risk into LTP by trading additional setup with just couple cars. The setup is based on limit entry, so liquidity is never a concern and it can be traded with a lot of size potentially. Risk is equally small as in my main setup. Both are based on the same order flow principles. I think it can also add some interest for all parties: TST, my journal followers and myself.

Fantasic, xelaar! Looking forward to learning your new setups

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  #333 (permalink)
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xelaar View Post
Now with the nice cushion above profit target, I believe I can afford to introduce a new setup, to make things less boring. I also expect, they want to see me trading something more than just one setup, to make sure I have more ammo if market will be not beneficial to the thesis I use a base of my entry type (something I don't think ever happens as long as people are using same technical analysis and stop loss orders). I have few setups in development, and I think I can introduce little bit more risk into LTP by trading additional setup with just couple cars. The setup is based on limit entry, so liquidity is never a concern and it can be traded with a lot of size potentially. Risk is equally small as in my main setup. Both are based on the same order flow principles. I think it can also add some interest for all parties: TST, my journal followers and myself.

@xelaar

I tried to re-write this so it did not sound so critical but could not without losing the point I was trying to make. It is what it is and I am going with it.

You have 6 days left and are using a process which has worked up to this point; In other words you are winning!! Why would you want to introduce something new at this point? Not trying to be critical here(ok maybe just a little) but IMO you are giving a VIP pass to disaster and then putting him in the front row. If I were a coach I would be reminding you to keep doing what got you here and dont be cocky!! You can still lose!! Actually I would be screaming it. I have lost so many times and know other traders who have done the same by changing it just a little or by adding just a little more risk. This is not the time to go there.

xelaar, one final thought - you are about to accomplish something that very few people will ever be able to do. You should be proud! My humble advice to you at this point; Be proud of what you have done but stay the course and true to yourself and keep doing what you are already doing. If you win, then it was on the merit of your edge. If you lose, then it was on the merit of your edge. In either case there will be no regret or "what if's" after its all said and done.

Robert

nosce te ipsum

You make your own opportunities in life.
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  #334 (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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Posts: 1,517 since Feb 2013
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Silver Dragon View Post
@xelaar

I tried to re-write this so it did not sound so critical but could not without losing the point I was trying to make. It is what it is and I am going with it.

You have 6 days left and are using a process which has worked up to this point; In other words you are winning!! Why would you want to introduce something new at this point? Not trying to be critical here(ok maybe just a little) but IMO you are giving a VIP pass to disaster and then putting him in the front row. If I were a coach I would be reminding you to keep doing what got you here and dont be cocky!! You can still lose!! Actually I would be screaming it. I have lost so many times and know other traders who have done the same by changing it just a little or by adding just a little more risk. This is not the time to go there.

xelaar, one final thought - you are about to accomplish something that very few people will ever be able to do. You should be proud! My humble advice to you at this point; Be proud of what you have done but stay the course and true to yourself and keep doing what you are already doing. If you win, then it was on the merit of your edge. If you lose, then it was on the merit of your edge. In either case there will be no regret or "what if's" after its all said and done.

Robert

Hey Robert
You are right of course. My plan wasn't to start trading differently or risk my LTP though. I am contemplating an idea to build a daily cushion using my main setup and if I have time available look to place few trades during the late RTH within the rules of risk management, not risking more than 50% if I get over 1000. Basically I talk about 100 risk per trade only. So I would say there is no risk to LTP.
I belive they want to see me handling some little risk and not being a one shot pistol.

Trade to live. Not live to trade.
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  #335 (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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Posts: 1,517 since Feb 2013
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LTP - day 5

End of day for me. Market is rising but low volume and clearly not favoring my style. I did one trade and got stopped out righ away, no orders there. Might be the beginning of month thing, after options expired nothing has built up yet. Then I had to leave for the hospital, left 3 pending orders. Two got triggered. If I would be there I would close small winners on both, likely 3-5 ticks one and 7-9 another. Instead I got 4 ticks by trail stop on one and lost 2 ticks on another. After I came back I made another trade, it did not pop at all, lost 2 tick. And last shot - it stopped for 2 ticks loss and raced away, clearly not on stops but on sheer buying pressure. End result -225 for the day. Nothing to be upset about. I stopped after 3 consecutive losses as written in my trading plan for LTP.

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  #336 (permalink)
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prague, czech republic
 
Futures Experience: Intermediate
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Favorite Futures: DAX, Gold, Euro
 
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Posts: 1,517 since Feb 2013
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  #337 (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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Posts: 1,517 since Feb 2013
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LTP - day 6

Another slow day with very low volume. Few trades, but just one was on a really good level. I am starting to alternate my setup starting tomorrow, to minimize slippage on live market and get a possibility to enter on a fast snap-back pullback to the level after the initial pop.

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Last edited by xelaar; June 5th, 2013 at 07:38 AM. Reason: added a chart
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  #338 (permalink)
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prague, czech republic
 
Futures Experience: Intermediate
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Favorite Futures: DAX, Gold, Euro
 
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Posts: 1,517 since Feb 2013
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Trade to live. Not live to trade.
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  #339 (permalink)
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I dont know if I have ever seen trading stats like those. You are really knocking it out of park (more like out of universe). They d be lucky to fund you.

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  #340 (permalink)
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Futures Experience: Intermediate
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Thanks, Gary. I don't think it's anything as spectacular as you described, but I do have experience walking on thin ice, so I tend to be very careful with place trades and risk taking. I had been losing 5k real dollars in a matters of 3 second s and winning even more in under 10 seconds, so I know what can happen. The key to this sort of trading is knowing either when the even will happen (news trading) or where it will happen (stop hunt/liquidation).

I decided to keep this thread dedicated to only TST related stuff, so if you are curious about how my other trading, development and research is going, feel free to visit my general journal here at futures.io (formerly BMT).

https://futures.io/trading-journals/26077-watch-me-fly-like-eagle-drop-like-t-rd-7.html#post333948

Trade to live. Not live to trade.
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