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Trading fast markets


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Trading fast markets

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  #51 (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

Well another day behind. Started early and took 19 healthy ticks, but around 60 were available, so should hold onto it. Another attempt, but no follow up, took a 2 ticks break even. Put straddle orders behind stop zones that would cause order flow with 50 ticks limits before the GDP and got it triggered, very fast 50 ticks. Got very close to that 3k profit, and went into "badge hunt" mode. I should stop when market sorta calmed after the report and equity open, but I got within 95 bucks of magical 3k and couldn't stop myself. Sure, then I lost 10 ticks, another trade another 10 ticks. Now I stopped. Still 2k in profits, but giving back 840 usd was dumbass idea. Of well, we learn every day. Today I stopped after a second hit, yesterday I could not stop before three hits.



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  #52 (permalink)
Legendary Market Wizard
Cleveland Ohio/United States
 
Experience: Advanced
Platform: Tradestation
Broker: Tradestation, DeCarley, others
Trading: futures
 
Posts: 2,806 since Jul 2012
Thanks: 1,453 given, 5,418 received


xelaar View Post
Well another day behind. Started early and took 19 healthy ticks, but around 60 were available, so should hold onto it. Another attempt, but no follow up, took a 2 ticks break even. Put straddle orders behind stop zones that would cause order flow with 50 ticks limits before the GDP and got it triggered, very fast 50 ticks. Got very close to that 3k profit, and went into "badge hunt" mode. I should stop when market sorta calmed after the report and equity open, but I got within 95 bucks of magical 3k and couldn't stop myself. Sure, then I lost 10 ticks, another trade another 10 ticks. Now I stopped. Still 2k in profits, but giving back 840 usd was dumbass idea. Of well, we learn every day. Today I stopped after a second hit, yesterday I could not stop before three hits.




Since you've mentioned "getting a badge" a few times, I have to ask: why is this important? It seems like an ego thing, since you don't need to earn badges to pass the Combine. And that is the real goal, right? Or is the real goal something else?

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  #53 (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


Well you nailed it. It is an ego thing. I know it's not very healthy for trading but we all need some instant gratifications. Winning a Combine is a relatively distant goal, one need something to be proud of today. I should have been proud with 2915 usd in profits!!!

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  #54 (permalink)
Legendary Market Wizard
Cleveland Ohio/United States
 
Experience: Advanced
Platform: Tradestation
Broker: Tradestation, DeCarley, others
Trading: futures
 
Posts: 2,806 since Jul 2012
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xelaar View Post
Well you nailed it. It is an ego thing. It's like getting qualified for a race but in a second half of the grid, giving the complications of a race start and lots of people screwing around you there is very little chance or rather none making it to the podium finish; and not taking a race. I do it sometimes. I know it's not very healthy for trading but we all need some instant gratifications. Winning a Combine is a relatively distant goal, one need something to be proud of today. I should have been proud with 2915 usd in profits!!!


It is good you recognize it as an ego booster. Next step is to eliminate it. In trading, ego kills. And I can tell you know that already.

I wish you continued success in the Combine!

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  #55 (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


kevinkdog View Post
It is good you recognize it as an ego booster. Next step is to eliminate it. In trading, ego kills. And I can tell you know that already.

I wish you continued success in the Combine!

Thank you Kevin. I think I need to do some sort of replacement gratification for a good day of trading. Since I am on a diet maybe getting some sweets will help. No sweets today for sure though!

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  #56 (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

That sums up it pretty much


https://www.youtube.com/watch?v=Fd9ohpDDCRU&feature=youtube_gdata_player

And it feels right this time*On his crash course with the big time*Paid no mind to the distant thunder*Today filled his head with wonder... boy*Says it feels right this time*Turn around and found the light lime*Good day to be alive... sir*Good day to be alive he said*Then it comes to be that the soothing light*At the end of your tunnel*It's just a freight train comin your way*Then it comes to be that the soothing light*At the end of your tunnel*It's just a freight train comin your way*Don't it feel right like this*All the pieces fall to his wish*Sucker for that quick reward... boy*Sucker for that quick reward they said*Then it comes to be that the soothing light*At the end of your tunnel*It's just a freight train comin your way*Then it comes to be that the soothing light*At the end of your tunnel*It's just a freight train comin your way*It's comin' your way*It's comin your way*It comes!*Then it comes to be that the soothing light*At the end of your tunnel*Was just a freight train comin your way*Then it comes to be... yeah

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  #57 (permalink)
Kailua-Kona, HI
 
 
Posts: 29 since Mar 2013
Thanks: 41 given, 203 received

Looking good on your combine brother

Im doing the 10day 150K combine too... just finished up the first week
The biggest challenge for me was learning the platform as I know my system works.
I really wish that TST allowed more platforms other than just T4/Multi/sierra and ninja

I like and am used to esignal but they dont allow it yet

anyhow keep it up brother, Ill race you to the finish line


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  #58 (permalink)
WA Europe
 
Experience: None
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Posts: 123 since Mar 2013
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Good job and well done trades.Keep it up

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  #59 (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


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  #60 (permalink)
Pittsburgh, Pennsylvania
 
 
Posts: 563 since Jan 2013
Thanks: 33 given, 375 received


At least now you know you could easily pass the 50K Combine and most likely the 100K. So you can relax a bit...

Good work....

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