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Trading fast markets
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Trading fast markets

  #681 (permalink)
Market Wizard
Houston, Texas
 
Futures Experience: Advanced
Platform: NinjaTrader; BloodHound
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xelaar View Post
but 690 in commissions

I hope you are counting in pesos.

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  #682 (permalink)
Elite Member
prague, czech republic
 
Futures Experience: Intermediate
Platform: NT7, MT4
Broker/Data: LMAX
Favorite Futures: DAX, Gold, Euro
 
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jlwade123 View Post
I hope you are counting in pesos.

In topstep dinars

Sent from my GT-N7100 using Tapatalk 2

Trade to live. Not live to trade.
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  #683 (permalink)
Elite Member
prague, czech republic
 
Futures Experience: Intermediate
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DAX trading


Not very good today, i sorta recognized downtrend momentum early but was unable to find an entry. Then I started to fade lows around yesterday range and futile. First hour trading DAX should be with momentum. Overall slightly negative day, but counting commissions not so good: -62.5 EUR and 43 commissions (215usd) so let's say -300 usd.

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Pre-open trade, very slow market, hoped to be in a position if it break up. Very well could be but not today.

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Possibilities to enter on that move low early.

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Futile attempts to fade lows, mistake is taking too much trades, first was justified as it was at the level where we have rejection yesterday.

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3 attempts to get onto short with momentum, two fails, third worked but should have held. First 2 were not well placed and probably should not be traded. Third had much more rejection and looked good.

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Fading the low, second trade was good but should have trailed runner bit more aggressive, momentum is still much on down side.*

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Market starts transition into range, pullbacks are larger. Justified attempt to catch the low.

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Not bad trade but failed.

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First trade was a short near the resistance area, just did not work. Second is a long to get onto market moving up. Worked but again at this time of the day it's nobody's market.

Too much impulsive trades, too much trades without solid foundation. Need to keep working on it. But today wasn't easy.

Trade to live. Not live to trade.

Last edited by xelaar; September 26th, 2013 at 08:49 AM.
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  #684 (permalink)
Elite Member
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Futures Experience: Intermediate
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Yesterday's CL analysis

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Pretty much self-explanatory. 6 ticks stop used, test box is 5 ticks.

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  #685 (permalink)
Elite Member
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Combine

Trained in crude today. Not the easiest market, real hard, small range, chop of chops. No need to post trade shots, but overall barely profitable. Also did a couple of trades in NatGas, when crude was totally dead. Pretty much break even, a bit on positive side. If I would target going live with TST that would enable it for me in live account. But I am not targeting it, nor it is likely I would be able to get to profit target.

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I feel like the concept of placing stop one tick behind the level is a good one, yes, sometimes it just pops by 1 tick but more times when it pops price will move through. So it's a losing proposition. Level either holds or does not.

The size of stop is the size of test box plus 1 for being 1 tick behind level. Test box is a space allowing price to retest level, rotate and I can join on a way out. I love that concept. For hunting LOD and HOD, I feel like I miss the best opportunities as when price comes as close as 5 ticks it will likely push the level, so something like 10 ticks should allow to catch better trades. With HOD/LOD trading targeting 20 ticks in crude or Dax should be easy for the first target. Also, many times price will push new HOD/LOD and rotate around 3-6 ticks around and push again. If I use 10 ticks box I can let it go out and place limit for a last test, so I filter out many losers with smaller than 10 ticks rotations. 4 and 6 ticks for Dax and Crude for slower market look sensible but really these slow trades are hardly winners, so I will try to use 10 ticks for these setups too and filter out any locations where there is not enough space for 10 tick rotation and 20 tick first target. That should get me clear of congested markets like Crude today (and gas), and encourage more trading away from HVN and POC.

I will use following tomorrow 10 ticks stop for all setups and see what results I get.

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  #686 (permalink)
Elite Member
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DAX is tight today. Fake out upwards and modest continuation downwards. End of quarter business perhaps.

Trading wise, 10 ticks stop in dax is good for momentum plays. But for fading it is too large. I have settled for 6 ticks now (from 4 yesterday), it's a good combination as it seems.

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  #687 (permalink)
Elite Member
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DAX and Crude trading plan Sept13

1 INSTRUMENTS: DAX, CRUDE
2 TYPE OF TRADES: MOMENTUM AT HOD AND LOD, FADING HOD AND LOD, FADING CONSOLIDATIONS AT LEVELS
3 TRADE VERIFICATION MATRIX
I. Select direction: establish market direction and state – down trend, up trend, range bound
II. Select trade location: HOD/LOD, key level (repeated price rejection) with low volume traded at (hole in VPR), open road for run to both target 1 and target 2
III. Confluence: level confluent with previous HOD/LOD or swing high or low and vice versa
IV. Select trade type applicable:
a. If trending and HOD/LOD has no levels close past it, market approaches with momentum – use Momentum trade (stop limit entry 1 tick past HOD/LOD – fill on initial grind or on a quick snap back)
b. If trending but market approaches HOD/LOD without momentum and there are levels past HOD/LOD – look to fade AFTER market breaches HOD/LOD by small number of ticks and starts to reject – enter with limit or stop limit order within trading box distance, if unable to catch – don’t leave order for later test, if retesting later – make sure HOD/LOD is not breached and matched before entering, OR, market creates new HOD/LOD by few ticks, if market creates new HOD/LOD by a larger number of ticks (big push), wait for a retest and violation of this HOD/LOD by a few ticks and then trade
c. If market approaches key level and profile has a gap in it, first let market test and reject the level then enter the trade, if market went away after the first test and approaches again, don’t enter until level is tested and pinched through by 1-2 ticks and then rejected, then enter, idea is to let stop hunters to collect stops and let market fall away from it after interest in pushing price to the level is gone
V. Risk management: use 6 ticks stops for all fading and 10 ticks stops for momentum trades, aim for max 3 trades a day only
VI. Trade management: protect any trade at distance at least twice stop size, use target 1 at least twice stop size and target 2 at least 4x stop size
VII. General considerations: don’t take any deliberate scalping trades, aim all trades to be runners or swing trades (on intra-day level), don’t take small gains nor take trades that only can give small gains

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  #688 (permalink)
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Crude today

As expected another tight day testing patience. Well I have none today so I end up slightly up and let's keep it that way. It takes too long for setups to work and it seems totally random. +120 in combine after commissions. Whatever.

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I know I broke the plan immediately but it is just not good market to hold it to target. It would have worked in the end.

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  #689 (permalink)
Elite Member
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Posts: 1,517 since Feb 2013
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Combine

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Trade to live. Not live to trade.
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  #690 (permalink)
Elite Member
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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I have a feeling I have a good plan now and I will hold onto it the whole next week and only then re-evaluate.

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