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Trading fast markets


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Trading fast markets

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  #541 (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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garyboy275 View Post
Wow, man all I can say is my jaw just dropped. So glad i am done for the day trading wise otherwise there are a million thoughts going on in my head. Its kind of like the 49ers loss in superbowl I just cant get my head around it why they didnt run the ball 4times. If you follow american football you ll get what i am saying otherwise Ignore it.


You were a real inspiration to all of us. Few questions come to mind. Feel free to answer or ignore but knowing you, I ll probably get the answers

"Gold just annihilated that resistance level and gapped quite a lot. Needless to say my stop placement by AOCO got rejected by CME and I was left holding a short in rising market with no stop."

On auto OCO doesnt an OCO become a market order unless you have a limit price in ? Once price crosses your level it should fill, no ?


Do you still plan to trade your own account and what are your future plans ?

I think TST needs to make rules a bit clearer. Not just the one that affected you but there are plenty of other rules that even moderators aren t sure of.

As always thanks for sharing your experiences. Good luck in whatever you decide to do from now on

Hey, in regards to AOCO, the issue was not with stop skipped, the price moved so fast, CME server was unable to set OCO orders into the book after the original limit order got triggered. I think price has almost gapped 30-40 ticks, filling my limit and rejected a related AOCO in a blink of an eye. Should I put a limit and another stop market order behind it manually it would work, but still would slip maybe 20 ticks. It was that bad.

I plan to regroup for now, get my head clear, decide how I want to trade from now on. I had invested quite a lot of time with TST, started first in February with first interest and since then set on a route to develop a suitable strategy. Now with this part of my life past me, I need to find if I want to continue day trade futures at all. I had spent so much time with gold by now, I have learned it pretty well, so it feels kinda bad to start looking for something else to trade actively. We will see. I think I will come back to swing trading currencies little by little and maybe gold too, spot, not futures. Futures-wise, time will tell if I want to continue this road further. Good solution for me would trading my own capital in currencies and spot gold via Forex, and if my method would suffice for another Combine, why not to take it. Then I can won't put TST trading as my priority like it was to that date, but as a supplementary trading. If I am done with scalping (which is what I aim for) I can see no trouble taking trades in both my account and TST account. Their contract states no trading private accounts but I am told it is not enforced (I wonder how could they and why) and many live traders do trade their own accounts. At least successful ones.

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  #542 (permalink)
Hamburg Germany
 
Experience: Advanced
Platform: Multicharts, Tradestation
Broker: DTN IQ
Trading: ES
 
Posts: 2,197 since Apr 2013
Thanks: 386 given, 1,432 received

xelaar,

to quote Nietzsche, "was mich nicht umbringt, macht mich stärker" and I am sure you have taken and will take a lot out of the situation, even though they kicked you out. Maybe you are just not meant to trade with them. I am sure you are a very good trader from what I have seen. Your honesty is very refreshing and your journaling is a great gift and inspiration to all fellow futures.io (formerly BMT)lers.

Thank you,
ABCTG

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  #543 (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: 1,740 given, 2,565 received



ABCTG View Post
xelaar,

to quote Nietzsche, "was mich nicht umbringt, macht mich stärker" and I am sure you have taken and will take a lot out of the situation, even though they kicked you out. Maybe you are just not meant to trade with them. I am sure you are a very good trader from what I have seen. Your honesty is very refreshing and your journaling is a great gift and inspiration to all fellow futures.io (formerly BMT)lers.

Thank you,
ABCTG

Thank you! Definitely it was above all a very good experience and I am grateful to TST and Hoag personally for it. I invested my time and gained experience. They took a chance with me and lost some money (not much).

Funny part is I am pretty confident if I start combine now with same method I will likely pass it in 10 days. But how good is it for me? Do I want it? Doing same thing again and again with same results is a sign of madness, if to believe Albert Einstein.

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  #544 (permalink)
Liverpool, UK
 
Experience: Intermediate
Platform: NinjaTrader
Trading: Stocks, ES
 
Posts: 68 since May 2013
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xelaar View Post
Good solution for me would trading my own capital in currencies and spot gold via Forex, and if my method would suffice for another Combine, why not to take it. Then I can won't put TST trading as my priority like it was to that date, but as a supplementary trading.

Good luck with your journey @xelaar, you have done great work.

Just this point is still attacking my head, if someone can trade his own capital and win (or loose) 100%, why would go for combine with 60%?

I'm in this position, and don't have an answer really.

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  #545 (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: 1,740 given, 2,565 received


ghl123 View Post
Good luck with your journey @xelaar, you have done great work.

Just this point is still attacking my head, if someone can trade his own capital and win (or loose) 100%, why would go for combine with 60%?

I'm in this position, and don't have an answer really.

Think about it as a free leverage with a couple of get out of jail cards. It changes if you have to chose either trade for them OR for yourself, but it is simple if you don't have a capital to risk or you can trade both. I did trade exclusively for them, but I was reviewing an option to trade it alongside my own capital later. But it required a lot of attemption as setup develops and when in the trade. It would be impossible to trade two account with this style.

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  #546 (permalink)
Windsor Ontario
 
Experience: Beginner
Platform: Ninja
Trading: ES
 
AdamGG's Avatar
 
Posts: 14 since Apr 2012
Thanks: 4 given, 9 received

If I remember correctly... the song goes 'this is the end, my only friend ...the end....
I understand that the challenge is a a good exercise but the actual desire of TST to maintain and further develop a stable of traders is a little cloudy in my mind's eye. Good (consistent) hedge funds get around 15% return, a good consistent trader bringing in better than that would be in demand in my view.
Maybe 'The End' is your friend...
Best of luck!

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  #547 (permalink)
Phoenix Arizona
 
Experience: Beginner
Platform: MotiveWave
Trading: CL
 
Posts: 125 since May 2013
Thanks: 325 given, 162 received

Wow, I am blown away xelaar !!! Surely did not seem like you were in any trouble whatsoever, and then BAM!!! I am sorry to hear that a market event like this blew you up.

You had shown such focus and consistency, I too can't help but think that they should have figured out a way to keep you. I mean seriously, there are only 5% winning traders out there, and to just dump you??? I would have to say that it almost seems like they are trying to create failures with their program rather than successes.


Best wishes to you in whatever endeavor you should choose. I believe your grit, determination, and focus will bring you through to success.

Ddawg

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  #548 (permalink)
Site Administrator
Manta, Ecuador
 
Experience: Advanced
Platform: My own custom solution
Trading: Emini Futures
 
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Big Mike View Post
Why the changes vs what worked during combine?

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xelaar View Post
Few reasons:
1. Summer - much less opportunities, opportunities that present themselves are mediocre mostly and result overall in around breakeven results, because moves are small, and slippage is present and account for significant part of the move, because of low liquidity and participation
2. I want to capture more ticks with less staring at screen, hence going for more swingy approach, plus it means I can utilize my allocation of buying power better, as I can get better return in $ per each contract used

Just a reminder to everyone that @xelaar wasn't trading the same way he was during the combine.

This is a good lesson about how changes can affect you, and about how hard it is to be consistent with an ever changing market.

Mike

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  #549 (permalink)
thabazimbi limpopo/south africa
 
 
Posts: 27 since Oct 2012
Thanks: 65 given, 88 received

OH damn, I am very sorry for how it turned out. You know I am a big fan of your work.
I too had some difficulty with the trading hours, I also like gold much better during the European session. Had to reinvent myself a few times with TST. I lost two accounts with TST before due to rushing things or lack of patience.

Anyhow, I think you should just take a break and cool down a bit. I do believe we will be working together again soon. Next time just add a simple slow and cheap market like the dow for a backup, it is the best thing I have done this time around.

Thanks for the great journal, you will be back better than ever soon.

Ian

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  #550 (permalink)
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Do they publish these trading hour restrictions ahead of time?

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