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Trading fast markets
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Created: by xelaar Attachments:517

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Trading fast markets

  #581 (permalink)
Market Wizard
Switzerland
 
Futures Experience: Intermediate
Platform: Investor/RT
Broker/Data: IB / DTN
Favorite Futures: Futures
 
Posts: 4,129 since Feb 2012
Thanks: 3,780 given, 7,657 received
Forum Reputation: Legendary

Combines are not for everyone

Hi @xelaar

Thanks for your profound journal. Got some insight into the "hidden mines" of combines
aka changing rules when least expected
Of course - as there are more trading strategies than traders - such a dense rule construct
which is not easily being overlooked is at least a heavy handicap.
First for us Europeans the trading time and instruments are difficult to choose. Then the
trading style has to be adapted to the "rules". Both things may differ to our own trading
style and in ONE critical phase may lead to a bigger loss than previewed.

Nevertheless I am subscribing to trade after OWN rules and to invest time and money
what one can overlook and afford. So one does not take risks because of a given timeframe
or a externally given rule set that may interfere with some weaker markets at time.

Good pause and wishing you great trades!
GFIs1

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


jlwade123 View Post
Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

I am waiting for new pullback to 55 EMA in Gold. Then, I will set my stop below this point and try and capture the resumption of the upmove in this market.

I like this idea. Another example how limiting trading futures is for a beginner trader or one with limited accounts.
I would like to do a similar trade in XAUUSD, in spot market.

Trade to live. Not live to trade.
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  #583 (permalink)
Elite Member
prague, czech republic
 
Futures Experience: Intermediate
Platform: NT7, MT4
Broker/Data: LMAX
Favorite Futures: DAX, Gold, Euro
 
xelaar's Avatar
 
Posts: 1,517 since Feb 2013
Thanks: 1,739 given, 2,592 received



GFIs1 View Post
Hi @xelaar

Thanks for your profound journal. Got some insight into the "hidden mines" of combines
aka changing rules when least expected
Of course - as there are more trading strategies than traders - such a dense rule construct
which is not easily being overlooked is at least a heavy handicap.
First for us Europeans the trading time and instruments are difficult to choose. Then the
trading style has to be adapted to the "rules". Both things may differ to our own trading
style and in ONE critical phase may lead to a bigger loss than previewed.

Nevertheless I am subscribing to trade after OWN rules and to invest time and money
what one can overlook and afford. So one does not take risks because of a given timeframe
or a externally given rule set that may interfere with some weaker markets at time.

Good pause and wishing you great trades!
GFIs1

Thanks, I agree with what you said. Thus I will be looking to build my own strategies on my own rules, markets and times. Then I will give it a chance at another combine so I can trade it as a complimentary.

I plan to look now into FDAX for London session and GC and CL for US session, that I have decided to return to momentum scalping and stop trying to get into swing trading with small stops available with limited accounts and day trading margins.

Trade to live. Not live to trade.
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  #584 (permalink)
Trading Apprentice
Boulder, CO/USA
 
Futures Experience: Intermediate
Platform: T4
Favorite Futures: oil
 
Posts: 8 since Mar 2013
Thanks: 19 given, 5 received

Hi RAA - thanks for the great journal with detailed trading information that you have provided. I have some good back tested strategies in gold, with a similar approach to what you have been using.

I've also passed the combine and live trader prep and am currently a live trader with TsT, but I find their trading requirements restrictive, and I am looking for outside funding so that I can fully implement the strategy that I have developed.

If you have any leads on funding please let me know. I'm happy to provide additional information as needed.

Thanks.

Matt

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  #585 (permalink)
Market Wizard
Houston, Texas
 
Futures Experience: Advanced
Platform: NinjaTrader; BloodHound
Broker/Data: NinjaTrader Brokerage, Kinetick, Rithmic
Favorite Futures: ES, CL, 6E, UB, 6J, 6B, ZS
 
Posts: 921 since Oct 2012
Thanks: 672 given, 877 received


chambemk View Post
If you have any leads on funding please let me know.

I have thought about starting a hedge fund for traders using crowd funding resources.

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


jlwade123 View Post
I have thought about starting a hedge fund for traders using crowd funding resources.

The problem here would be regulatory and cost of entry. Traders would have to have broker's licenses and hedge fund could not advertize and could not solicit non-qualified investors. This is not a problem outside US of course. There are lots of money managers in forex world, some of them are very big.

Trade to live. Not live to trade.
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  #587 (permalink)
Elite Member
prague, czech republic
 
Futures Experience: Intermediate
Platform: NT7, MT4
Broker/Data: LMAX
Favorite Futures: DAX, Gold, Euro
 
xelaar's Avatar
 
Posts: 1,517 since Feb 2013
Thanks: 1,739 given, 2,592 received

Did some extensive scalping today with DAX in the morning and Gold in the afternoon. On both instruments I have been nicely up before going down into red. I have to say I can clearly see some profitable trading patterns there, just one must filter signals quite efficiently, AND limit time of scalping to only most active hours.

I would consider these hours for next days' trading: 0900AM-1030AM CET for DAX (GMT+1), 0730AM-0930AM CST for GC (GMT-6)

I believe if I gradually get proficient at setups and in filtering them I can get consistently profitable with this type of trading. I use only limit orders to enter on pauses at levels, and I use miniscule stops because I want to be out right away if I am wrong. Since these are not breakout trades, slippage is not present on entry, and stops generally produce small or none slippage, because they are not located in zones of high volatility, like it happened with my fading key levels setups.

I don't see any point in counting losing trades before I stop, I believe drawdown in $ is much more important, so trading with 2 contracts for scale out, I would consider stopping for a day if I hit 300 $ loss limit, and stopping for a day if I hit 500-600$ profit.

I plan to formalize entry rules within next few days, getting more firsthand real time experience.

Trade to live. Not live to trade.
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  #588 (permalink)
Market Wizard
Houston, Texas
 
Futures Experience: Advanced
Platform: NinjaTrader; BloodHound
Broker/Data: NinjaTrader Brokerage, Kinetick, Rithmic
Favorite Futures: ES, CL, 6E, UB, 6J, 6B, ZS
 
Posts: 921 since Oct 2012
Thanks: 672 given, 877 received


xelaar View Post
I plan to formalize entry rules within next few days, getting more firsthand real time experience.

Good deal, keep us informed of the new rules and how you do. Volatility is picking up for sure.

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  #589 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
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  #590 (permalink)
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I heard the news late, and sorry to hear what happened Xelaar. Thanks so much for sharing your experiences in live combine also. It sounds like the live combine trading adds on more external stresses and constraints not making it seem that more palatable than a regular stressful job. Doesn't sound good to me they drop you and then make you have to re-qualify for live trading. I would think a forced sabbatical from trading for their clients would be more reasonable. Maybe a few days, weeks or months. Or even three strikes to give some leeway for singular accidents like the slippage that happened in your trading. Traders and their EAs get away with much greater drawdown and long stretches of consistently bad performance on places like zulutrade and myfxbook which was certainly not the case in your live trading. Anyways, best of luck in the future.

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