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Trading fast markets


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Trading fast markets

  #401 (permalink)
Oklahoma City OK/USA
 
Experience: Intermediate
Platform: Tradovate
Broker: Tradeovate
Trading: NQ/ES/NG
 
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xelaar View Post
hi, thanks for the congrats, appreciate it!

1. You can pass in 10-20 days accordingly if your profit target and metrics are done, but maximum it can take is up to 20 to 40 days (for 10 and 20 days combine)
2. LP can take as long as 2 months but the minimum number of days is 10, profit goal for me was 4500 usd, I have heard others were getting a modest profit goal too. I had mine completed after 3rd day but still traded the rest like I did not, not changing to piking, I guess this is what they want to see there in LTP
3. For me the interview with Hoag (not the public interview conducted in chat room) happened 2 days after I emailed them I am ready for the LTP review, after 10 days were completed
4. Pretty much what you expect at job interview: tell about yourself as person, trader, your circumstances, your expectations, legal questions about not being in debt to any future commission merchant (broker) etc.
5. I already have a practice account and a login to live traders room, so considered live trader already, however actual account can arrive in 2-3 weeks as they said, I believe the public interview will be conducted when all is set

I can't answer your question about custom combine - I did a regular 150/20 combine and my holding time metric wasn't good, but you only need to be right on 2 metrics out of 3, my win size was ok and win percentage was ok too. No reason to go custom because just one metric will fail.

Sorry, 1 more:

I have done 3 personal 150K combines (myself only with the same restrictions TST has) my question to you is: lot size do they look down on averaging trades?

Other wise known as adding to a loser...

Also, I am very comfortable trading 5 contracts at a time is that sufficient for TST? Or do they prefer 10 contracts?

Thanks!

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  #402 (permalink)
Mumbai, India
 
Experience: Advanced
Platform: ChartNexus
Trading: Stocks, Commodities, Futures
 
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The 150,000 iqgod combine


xelaar View Post
True, time factor makes things interesting, but even then 20 days combine allows over 40 trading days, so for 150k combine it means 400 usd average days, which is not that difficult.


I would like to say too that the time factor was the number one disciplining factor for me. I wish to share the 20 days of my $150,000 combine to demonstrate how I held on to a loser for SIX HOURS (check day 2) in a bid to 'make it a winner' and finally had to cover well before DLL:



I am not ashamed to post it now because I have made huge improvements to my trading post such mistakes.

P.S.: I am not attempting at 'recovering' the stats for this combine anymore.

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  #403 (permalink)
prague, czech republic
 
Experience: Intermediate
Platform: NT7, MT4
Broker: LMAX
Trading: DAX, Gold, Euro
 
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Posts: 1,517 since Feb 2013
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iqgod View Post
I would like to say too that the time factor was the number one disciplining factor for me. I wish to share the 20 days of my $150,000 combine to demonstrate how I held on to a loser for SIX HOURS (check day 2) in a bid to 'make it a winner' and finally had to cover well before DLL:



I am not ashamed to post it now because I have made huge improvements to my trading post such mistakes.

P.S.: I am not attempting at 'recovering' the stats for this combine anymore.

Good job here! I think one can safely estimate a time limit for a trade when to kill it based on collected stats. So it's not only a limit in ticks but in time too. If you trade usually the same market state and session, stats can tell you a valuable story about your average win and loss duration and what can be expected and when it is usually good to put it to down.

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  #404 (permalink)
prague, czech republic
 
Experience: Intermediate
Platform: NT7, MT4
Broker: LMAX
Trading: DAX, Gold, Euro
 
xelaar's Avatar
 
Posts: 1,517 since Feb 2013
Thanks: 1,739 given, 2,565 received


pilotui View Post
Sorry, 1 more:

I have done 3 personal 150K combines (myself only with the same restrictions TST has) my question to you is: lot size do they look down on averaging trades?

Other wise known as adding to a loser...

Also, I am very comfortable trading 5 contracts at a time is that sufficient for TST? Or do they prefer 10 contracts?

Thanks!

I can tell you for sure they will fail you in LTP or JT is you add to a loser, there is a clear requirement not to do that. So even if you complete a Combine this way, they will ask you not to do that in next stage.

I think they are happy with you trading less contracts than maximum allowed but at some point if you trade well they might ask you to take more risk on if you see you are too risk averse. This is something I have heard from others.

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  #405 (permalink)
Oklahoma City OK/USA
 
Experience: Intermediate
Platform: Tradovate
Broker: Tradeovate
Trading: NQ/ES/NG
 
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Posts: 120 since Apr 2012
Thanks: 118 given, 115 received


xelaar View Post
I can tell you for sure they will fail you in LTP or JT is you add to a loser, there is a clear requirement not to do that. So even if you complete a Combine this way, they will ask you not to do that in next stage.

I think they are happy with you trading less contracts than maximum allowed but at some point if you trade well they might ask you to take more risk on if you see you are too risk averse. This is something I have heard from others.

Awesome insight, thanks again!

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  #406 (permalink)
prague, czech republic
 
Experience: Intermediate
Platform: NT7, MT4
Broker: LMAX
Trading: DAX, Gold, Euro
 
xelaar's Avatar
 
Posts: 1,517 since Feb 2013
Thanks: 1,739 given, 2,565 received

I started to trade my practice account today, trialing my new strategy that takes advantage of failing order flow near the key levels. Please find it here: https://futures.io/trading-journals/26077-watch-me-fly-like-eagle-drop-like-t-rd-7.html#post336271

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  #407 (permalink)
prague, czech republic
 
Experience: Intermediate
Platform: NT7, MT4
Broker: LMAX
Trading: DAX, Gold, Euro
 
xelaar's Avatar
 
Posts: 1,517 since Feb 2013
Thanks: 1,739 given, 2,565 received

I have just discovered my practice account has a report attached to it, how cool is that. It encourages to trade it smartly.


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  #408 (permalink)
prague, czech republic
 
Experience: Intermediate
Platform: NT7, MT4
Broker: LMAX
Trading: DAX, Gold, Euro
 
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Posts: 1,517 since Feb 2013
Thanks: 1,739 given, 2,565 received

Generally a very low volume day, lack of participation, the strategies I tested require more normalized trading activity thus did not work. Still I could get a couple less losers in the beginning of session by applying filters. However losses will be ever present, so the question is not how to minimize them by any means and costs, but how to still take winners. Some of my break even trades could be winners. Since I target minimum 3:1 reward to risk, perhaps I should concentrate not to pass on a winner instead of protecting trade by any means. I will test a time based break even approach - only putting to break even about one minute after, if price action remains in the region of entry - move a limit there to get out. If price action moved away - do not put to break even until one test of the entry. If price action moved away to profit - look for potential scale-in entries, and prace original stop where I would place a stop for a scale-in entry. This won't work for 15 ticks profits, but I plan to capture much larger runs like 30-50 ticks too. For 15-tick profits only use break even as per rules above, because I will get stopped out of many profitable trades.










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Last edited by xelaar; June 18th, 2013 at 05:04 AM.
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  #409 (permalink)
prague, czech republic
 
Experience: Intermediate
Platform: NT7, MT4
Broker: LMAX
Trading: DAX, Gold, Euro
 
xelaar's Avatar
 
Posts: 1,517 since Feb 2013
Thanks: 1,739 given, 2,565 received


Trade to live. Not live to trade.
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  #410 (permalink)
Oklahoma City OK/USA
 
Experience: Intermediate
Platform: Tradovate
Broker: Tradeovate
Trading: NQ/ES/NG
 
pilotui's Avatar
 
Posts: 120 since Apr 2012
Thanks: 118 given, 115 received

Contract question


So think or swim shows CLQ3 as the active contract now...when does TST/T4 switch to Aug (Q3)?

Thanks

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