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Trading fast markets

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  #601 (permalink)
 jlwade123   is a Vendor
 
 
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xelaar View Post
I use excel and a spreadsheet I put together when was developing my combine strategy. Nothing complicated.

Looks like a great spreadsheet. You deserve some credit for coming up with that.

Can you post a link to the spreadsheet? And, what do the field descriptions mean? I"m not following some of the acronyms.

Thanks!

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  #602 (permalink)
 xelaar 
prague, czech republic
 
Experience: Intermediate
Platform: NT7, MT4
Broker: LMAX
Trading: DAX, Gold, Euro
 
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Looks like a great spreadsheet. You deserve some credit for coming up with that.

Can you post a link to the spreadsheet? And, what do the field descriptions mean? I"m not following some of the acronyms.

Thanks!

I will post a template later on.

MFE - maximum favorable excursion, MAE - maximum adverse excursion

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  #603 (permalink)
 xelaar 
prague, czech republic
 
Experience: Intermediate
Platform: NT7, MT4
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Trading: DAX, Gold, Euro
 
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Here it is. I have left my DAX trading day results in, so it is easier to see how it can be used.

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Attached Files
Register to download File Type: xlsx TradingJournalTemplate.xlsx (21.2 KB, 82 views)
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  #604 (permalink)
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Here it is. I have left my DAX trading day results in, so it is easier to see how it can be used.

This is great, much better than the one I was using. Gracias,

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  #605 (permalink)
 xelaar 
prague, czech republic
 
Experience: Intermediate
Platform: NT7, MT4
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Trading: DAX, Gold, Euro
 
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DAX wasn't very fluid today, it was moving on low volume early but with little pullbacks, I did one decent trade early and should have held the runner. Tried another trade late, chop has started, one stopped out after BE kicked in for -1, closed the other one at +1 and +2. Small steps to reinforce discipline and belief into the system. Milebuilding.





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  #606 (permalink)
 xelaar 
prague, czech republic
 
Experience: Intermediate
Platform: NT7, MT4
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Trading: DAX, Gold, Euro
 
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To comment on DAX, I start liking it more and more for scalping. It is not very liquid, yet it's not gaping up and down like gold often does, it does not make too much crazy moves yet it is moving sufficiently not to get bored. And best of all for scalping is its price point: one tick is 12.5 euro, i.e. 16.5 dollars, while commission equals that of gold or crude which have only 10 dollars per tick. So it 40% cheaper to trade. Yet it is even better if to compare with it's relatives - NQ and YM, which is resembles a lot. There it is 300% cheaper to trade, as 1 tick there is only 5 bucks as compared to 16.5 for DAX, with same or similar commission.

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  #607 (permalink)
 torroray 
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xelaar View Post
To comment on DAX, I start liking it more and more for scalping. It is not very liquid, yet it's not gaping up and down like gold often does, it does not make too much crazy moves yet it is moving sufficiently not to get bored. And best of all for scalping is its price point: one tick is 12.5 euro, i.e. 16.5 dollars, while commission equals that of gold or crude which have only 10 dollars per tick. So it 40% cheaper to trade. Yet it is even better if to compare with it's relatives - NQ and YM, which is resembles a lot. There it is 300% cheaper to trade, as 1 tick there is only 5 bucks as compared to 16.5 for DAX, with same or similar commission.


Hi,

I witness there's a lot comment that the DAX wild and similar behavior to CL. This is the first time I come across such observation.

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  #608 (permalink)
 xelaar 
prague, czech republic
 
Experience: Intermediate
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torroray View Post
Hi,

I witness there's a lot comment that the DAX wild and similar behavior to CL. This is the first time I come across such observation.

It is but then CL is much more docile comparing to gold

Same can be said about gold comparing to silver.

Truth in the eyes of beholder.

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  #609 (permalink)
 torroray 
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To comment on DAX, I start liking it more and more for scalping. It is not very liquid, yet it's not gaping up and down like gold often does, it does not make too much crazy moves yet it is moving sufficiently not to get bored. And best of all for scalping is its price point: one tick is 12.5 euro, i.e. 16.5 dollars, while commission equals that of gold or crude which have only 10 dollars per tick. So it 40% cheaper to trade. Yet it is even better if to compare with it's relatives - NQ and YM, which is resembles a lot. There it is 300% cheaper to trade, as 1 tick there is only 5 bucks as compared to 16.5 for DAX, with same or similar commission.

Hi,

Nice cost per tick comparison.

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  #610 (permalink)
 jlwade123   is a Vendor
 
 
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To comment on DAX, I start liking it more and more for scalping. It is not very liquid, yet it's not gaping up and down like gold often does, it does not make too much crazy moves yet it is moving sufficiently not to get bored. And best of all for scalping is its price point: one tick is 12.5 euro, i.e. 16.5 dollars, while commission equals that of gold or crude which have only 10 dollars per tick. So it 40% cheaper to trade. Yet it is even better if to compare with it's relatives - NQ and YM, which is resembles a lot. There it is 300% cheaper to trade, as 1 tick there is only 5 bucks as compared to 16.5 for DAX, with same or similar commission.

You may enjoy the slower, more relaxing pace. Your momentum system is very good, though so I am sure it is hard for you to stop watching gold. Technology should be a good play soon. I've been waiting for dips to complete. ZN is also cheap to trade.

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  #611 (permalink)
 xelaar 
prague, czech republic
 
Experience: Intermediate
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Gave it some effort today too, more less orderly, but not ready to start logging trades. Still net positive. Just few screenshots for the journal.






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  #612 (permalink)
 xelaar 
prague, czech republic
 
Experience: Intermediate
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I did not trade DAX today, I did not like how it moved in the morning, plus I did not have a good sleep.

I was busy today with other stuff so only was able to trade gold a bit. But in the end net positive, after commissions would be about break even, but again I did not put much effort if any to it, putting these screenshots here only for my own future reference and another proof that system works even if I trade it sloppy!








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  #613 (permalink)
Trendlinebreak
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Hello xelaar,

I'm just wondering why you seemed to have changed your style a bit.
You were using the 2min GC chart before with the jigsaw trading tool.

So, what changed? Did you find the jigsaw trading tool ineffective?

Thanks,
TLB

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  #614 (permalink)
 xelaar 
prague, czech republic
 
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Trendlinebreak View Post
Hello xelaar,

I'm just wondering why you seemed to have changed your style a bit.
You were using the 2min GC chart before with the jigsaw trading tool.

So, what changed? Did you find the jigsaw trading tool ineffective?

Thanks,
TLB

As I was saying even in my webinar video, the chart configuration is just off the convenience - I am not getting any signals based on bar closes on particular chart, etc

But just in case, the gray chart above is 2m GC chart and beige charts are 1 tick range charts. Exactly same as I was using before.

The entry type is different now, but I was always striving to improve my entry technique to increase possible winners and reduce/eliminate entry slippage.

As for Jigsaw tools, I was trading order flow without them before and I don't use them all the time nowadays too. It gives an extra bit of confirmation in some cases where I am not sure a trade should be taken or now, and in situation when my signal has not yet presented itself but the tide seems to be turning early and I might miss a good surf. Here I might rely on Jigsaw to confirm that. Thus said, they are definitely useful.

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  #615 (permalink)
Trendlinebreak
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As I was saying even in my webinar video, the chart configuration is just off the convenience - I am not getting any signals based on bar closes on particular chart, etc

But just in case, the gray chart above is 2m GC chart and beige charts are 1 tick range charts. Exactly same as I was using before.

The entry type is different now, but I was always striving to improve my entry technique to increase possible winners and reduce/eliminate entry slippage.

As for Jigsaw tools, I was trading order flow without them before and I don't use them all the time nowadays too. It gives an extra bit of confirmation in some cases where I am not sure a trade should be taken or now, and in situation when my signal has not yet presented itself but the tide seems to be turning early and I might miss a good surf. Here I might rely on Jigsaw to confirm that. Thus said, they are definitely useful.

Ok, thanks. I guess you changed from breakout to a pull back strategy.

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  #616 (permalink)
 xelaar 
prague, czech republic
 
Experience: Intermediate
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Trading: DAX, Gold, Euro
 
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Trendlinebreak View Post
Ok, thanks. I guess you changed from breakout to a pull back strategy.

It was never really a pull back or breakout strategy. It was and still is an orderflow strategy. Matter of where to entry, what profit to project and what risk to take. My original entry type proved less efficient live than on demo, hence I started to look to improve the expectation.

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  #617 (permalink)
 xelaar 
prague, czech republic
 
Experience: Intermediate
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Trading: DAX, Gold, Euro
 
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No trading today. Low volume, unconvincing price action, possibility of news spikes. Did some experiments though, getting closer to that new plan to be finished. Important not to be greedy with targets.

I think I will be aiming to keep testing and logging at least till the end of September to get more proficient and hopefully to get tape bomb volatility out of the way.

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  #618 (permalink)
 xelaar 
prague, czech republic
 
Experience: Intermediate
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My current thoughs on DAX: this is a very different beast comparing to GC or CL. It behaves very different. It is prone to surges in trading, volatility and volume during short periods of time during the day, usually several times a day. Then it prints large candles with barely any pullback, it just grinds fast, giving no entry with any technical analysis approach. Other times it either sits in a narrow range and barely trades giving 1 car orders, or makes small blasts pushing stops out. I am coming to a conclusion DAX is not worth trading same way as I trade gold, rather one must only participate in these fast pushes and benefit from them. Similar pushes occur in GC too, but boy they are ridiculously fast and volatile, slippage is tremendous so my approach is to avoid them if I can't get into position on pullback prior to this event. These events happen usually at key levels, so there is some structure. On dax though, I am working on entering pretty much into these grinding moves on very small pullback DAX is doing (4-7 ticks usually). Until momentum is there a nice ride can offset several smallish losers. Also it is easy to know when you are wrong - it is when price directional movement stops. So small stop works, and also time based stop can be used - if trade is not in profit in let say 30 seconds, better dump it.

I am leaving tomorrow for a week, plan to start recorded trading with monitoring performance metrics once I am back!

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  #619 (permalink)
 jlwade123   is a Vendor
 
 
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I am leaving tomorrow for a week, plan to start recorded trading with monitoring performance metrics once I am back!

Enjoy your time off! I am testing a new momentum system that I am hopeful about from preliminary back testing. Perhaps I will have something to talk about when you return.

JLW

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  #620 (permalink)
 xelaar 
prague, czech republic
 
Experience: Intermediate
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Good moves, even though I had to sit out Draghi conference (played Super Mario instead lol).

Trade locations and directions from higher time frame intra day chart, trade entry and timing from range bar chart. Dropped faster EMAs, left only 200 and 1000 (for positioning). As I forfeited fast trades I have now time to draw trendlines and I believe it helps.

Todays trades and potential trades.












I am trialing S5 so here is a screenshot from their analytic tool. Decent one, even though nothing special, I can export trade log in csv file and import into my spreadsheet and generate even more stats. But for traders who have no better it is a good option.

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  #621 (permalink)
 jlwade123   is a Vendor
 
 
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Trade locations and directions from higher time frame intra day chart, trade entry and timing from range bar chart. Dropped faster EMAs, left only 200 and 1000 (for positioning). As I forfeited fast trades I have now time to draw trendlines and I believe it helps.

I can't get a sense of direction from the 1 range bars. Very fast. Seems like it would b good to use the higher time frame positions and longer EMAs for timing entries. Super Mario? I like it.

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  #622 (permalink)
 xelaar 
prague, czech republic
 
Experience: Intermediate
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I can't get a sense of direction from the 1 range bars. Very fast. Seems like it would b good to use the higher time frame positions and longer EMAs for timing entries. Super Mario? I like it.

In a sense it is same, trading low frame or high frame. Just adjust your position size and risk. Difference comes if you cross out from single session trading, also you get much less possible entries so can't really be very picky. Also due to longer time in trade you get susceptible to tape bombs, news releases, speeches, and other unpredictable events. I prefer to get them out, impact the market and ride in their wake. Also my ultimate goal is to trade for 1-2 hours at most and be done for the day. That is possible too with high time frames, but to compensate for lack of possible trades in one instrument you need to follow many instruments. I plan to embark again on that road with FX and ultimately trade a couple of simple setups on daily and weekly charts using all instruments available. However I have much more time for now, and prefer to keep racking in the screen time experience as fast as I can. Trading high time frame for me will be a result not the process. You get experience in very slowly with these setups. Hence scalping for me now.

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  #623 (permalink)
 aquarian1 
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here's a link to a place that might have less constrictive rules.
Tap trading

TradingAdvantage.com

I hope it is of help.
(If you find out the costs please let me know -- I haven't phoned)

Good luck.

..........
peace, love and joy to you
.........
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 hadamkov 
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I am trialing S5 so here is a screenshot from their analytic tool. Decent one, even though nothing special, I can export trade log in csv file and import into my spreadsheet and generate even more stats. But for traders who have no better it is a good option.

Hi Alex,

The beauty of S5TradeAnalyzer is in the ability to see how your parameters change IN REAL TIME (tab Current) if you use scaling in/out and campaigning (i.e. buying/selling the contracts around your entry price for short PTs just to "move" your stop as far as possible). I am not sure if it is anywhere explained, that is why my two cents here .
Hana

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  #625 (permalink)
 xelaar 
prague, czech republic
 
Experience: Intermediate
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Trading: DAX, Gold, Euro
 
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Hi Alex,

The beauty of S5TradeAnalyzer is in the ability to see how your parameters change IN REAL TIME (tab Current) if you use scaling in/out and campaigning (i.e. buying/selling the contracts around your entry price for short PTs just to "move" your stop as far as possible). I am not sure if it is anywhere explained, that is why my two cents here .
Hana

Hey Hana, yes, but it makes sense only for those who hold their trades longer period of time, like hours perhaps. For me personally Analyzer gives no advantage as I get more statistics from my excel sheets after direct trade log export.

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 xelaar 
prague, czech republic
 
Experience: Intermediate
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Trading: DAX, Gold, Euro
 
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aquarian1 View Post
here's a link to a place that might have less constrictive rules.
Tap trading

TradingAdvantage.com

I hope it is of help.
(If you find out the costs please let me know -- I haven't phoned)

Good luck.

Interesting, perhaps it is a viable choice for someone, thanks for posting the link.

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  #627 (permalink)
 xelaar 
prague, czech republic
 
Experience: Intermediate
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Since I am back to markets after a week-long complete separation from the world (so nice not to hear news or receive any calls) and I have decided that a best test before making any advances towards live trading with the new system would be to use one of the remaining free shots at the Combine in order to prove the trading rules, plan and discipline to be ready for live market.

If my new take will prove more successful and will work well enough to get me funded again without any Live Trader Preparation or other lengthy delays, I will consider to trade again for TST for a while, or, if my approach will be taken more favorably by them this time (since no slippage on entry puts a question mark on profitability live) I might stay with them. I don't completely discard this option in any case. Since I have to take a 10 days combine (which puts a big strain on profit target delivery) I don't feel like gambling/swinging for fences in 150k combine is a good option for me, since last time I completed it in 26 trading days with very sensible risk management averaging around 640 usd per day, which is not possible in 10 days going for 12k (average must be 1200). So I will chose a smallest combine since hitting 1500 usd target is much more probable in 10 days while exercising a good risk management routine. If I get funded I can get much faster to the withdrawal phase and prove that money can be made with TST, and if they prove to be flexible enough and allow to gradually increase my position sizes, I might stay.

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  #628 (permalink)
 xelaar 
prague, czech republic
 
Experience: Intermediate
Platform: NT7, MT4
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Trading: DAX, Gold, Euro
 
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1. Only take trades during the periods of strong directional movement and distant separation of EMAs, aligning in order on 1 range bar chart, and in line with a current swing on M2 chart (i.e. don't call reversals until they are visible)
2. Construct a trend line on two swing high/low points and take a trade on a third touch, where one of the EMAs on R1 chart is in line or close to a trend line
3. Use EMAs 75 and 200 period on R1 chart
4. Use stop of 4 ticks and target of 15 ticks
5. Use trail stop of 4 ticks
6. Only take one trade per trend line, i.e. only one 3rd touch, then wait for a new push and trend line to develop
7. Stop after 3 losers in a row or if 15 ticks down (on full position) on the day
8. Only trade high volatility hours and avoid trading during any press conference, if trading after a news release, don't get involved in initial volatility as it is unlikely that trend lines or EMA can provide any resistance to use tight stops
9. Aim to trade only 2 hours a day, for Combine I will consider from 7-30 AM till 9-30 AM Chicago time

I will trade with this plan for 10 days and then re-evaluate. I will also export trading log and import into my analytics spreadsheet.

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  #629 (permalink)
 xelaar 
prague, czech republic
 
Experience: Intermediate
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Apparently I am eligible for the 20 day combine as well, not only 10 day. So I have decided to go for 20 day 150k combine again, as this provides the best educational/discipline experience, allowing to thoroughly test strategy and trading plan, and implement gradual risk increase approach I practiced earlier. It will take a bit extra time, but in the end I aim to move to live trading with this method with a confidence and experience, not as soon as possible. Also, if I can get a funded account with TST again and can get a better deal with initial position size, it might be an option too, at least for a time being. New rules make it more interesting as now it is only 4500$ profit required to move to senior trader status and be eligible for withdrawals. With average of 600 usd to be done per day, lesser profit target of 12k seems to be easier and more manageable.

New risk profile will include starting with 5 lots and adding extra 2 lots every profitable day and removing 2 lots every losing day.

My new combine starts tomorrow.

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  #630 (permalink)
 xelaar 
prague, czech republic
 
Experience: Intermediate
Platform: NT7, MT4
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Trading: DAX, Gold, Euro
 
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1. Only take trades during the periods of strong directional movement and distant separation of EMAs, aligning in order on 1 range bar chart, and in line with a current swing on M2 chart (i.e. don't call reversals until they are visible)
2. Construct a trend line on two swing high/low points and take a trade on a third touch, where one of the EMAs on R1 chart is in line or close to a trend line
3. Use EMAs 75 and 200 period on R1 chart
4. Use stop of 4 ticks and target of 15 ticks
5. Use trail stop of 4 ticks
6. Only take one trade per trend line, i.e. only one 3rd touch, then wait for a new push and trend line to develop
7. Stop after 3 losers in a row or if 15 ticks down (on full position) on the day
8. Only trade high volatility hours and avoid trading during any press conference, if trading after a news release, don't get involved in initial volatility as it is unlikely that trend lines or EMA can provide any resistance to use tight stops
9. Aim to trade only 2 hours a day, for Combine I will consider from 7-30 AM till 9-30 AM Chicago time

I will trade with this plan for 10 days and then re-evaluate. I will also export trading log and import into my analytics spreadsheet.


Before I start with the combine, there are few changes to the plan to revert it back to its original form (I have modified it to suit smaller short combine):
1. Trade only during strong directional movement and after 75 and 200 EMAs cross on 1 range chart (no trade against momentum, no trading unconfirmed reversals)
2. Select good trade locations from 2 minute chart by going with the current swing, and close to the key levels, and in thinner volume profile areas (less obstructions)
3. Trade from 7 AM till 10:30 AM Chicago time (highest volatility times)
4. Use stop of 4 ticks and targets of 8 and 16 ticks (approx each on half position), no trail stop and no break even (except manually if trade got close to the target but stopped short)
6. Trade entry on either EMA 75 or EMA 200, after one confirmed previous rejection after the cross, with limit order
7. Only consider a trade after a previous rotation had enough movement to hit both targets (for both first entry or any consecutive entry), and both EMAs are on the correct side of the trend line (from last swing before cross to first swing after cross) - trend line is used only to confirm momentum and can be constructed mentally
8. Stop after 3 losers in a row or if 15 ticks down (on full position) on the day

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  #631 (permalink)
 isla 
Kyiv/Ukraine
 
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Hi xelaar

How are you planning to exit your position in halves using T4?

Best of luck with your Combine!

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  #632 (permalink)
 xelaar 
prague, czech republic
 
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isla View Post
Hi xelaar

How are you planning to exit your position in halves using T4?

Best of luck with your Combine!

That's a problem! I have considered instead of having partial exits to just have full exit in the middle, in theory it will be just the same, but it will generate longer stretches of losers. So the only way to do this fast, and I need to do this fast, is to have 2 DOMs side by side, with the same instruments, set each to half position size and same stop size for AOCO, but one to first target limit and another to second target limit. Each will set different limits for it's part of position. Not the most elegant but faster than just clicking twice and then manually changing limit distance for the second half, which I have also considered.

I have used 6 ticks first target in my initial testing and will likely revert to that from 8 ticks I wrote in the plan. Second target is less important, it is a runner and not so often it can hit target precisely, more likely to use limit to work around price action. 15-16 ticks is just not so far away in the DOM to work with and move around as if I would use something like 30.


Anyway, first day is behind me. I had several opportunities, missed the first one as hesitated to put the trade on, it would be a good both targets hit trade. Took the second one but only 1 car closed at 8 ticks, had to move the rest of it (2 cars) to 6 ticks and finally got 1 tick on second half (another 3 cars). For this trade I used setup with just one DOM and manually changing limits, so it was slow and it was the reason I used 6 cars, as I had 3 cars per trade set and did not have time to change it to 2 for a second half. Then market slowed and after a while I went away and missed two grand trades. Then it died for good. Anyway today is a slow day, and it is good to start with a plus, even if it is a small one.







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  #633 (permalink)
 xelaar 
prague, czech republic
 
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Here is the new report page


and there are few picture from my last adventure



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 CFuture 
cologne, europe
 
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Nice pictures, where did you charter that boat?

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  #635 (permalink)
 xelaar 
prague, czech republic
 
Experience: Intermediate
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CFuture View Post
Nice pictures, where did you charter that boat?

Thanks, that's Croatia.

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 CFuture 
cologne, europe
 
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I wish you further success.

A piece of thought on the instrument you have chosen.
There is not only manipulation in the retail forex or professional markets by big size scalpers flipping prices around. Gold is manipulated by the FED-banks (backed by CFTC) to fake lower inflation rates for massive political reasons.

CFTC Probe Gold Plunge, ?No Visible Central Bank Activity? Say Blackrock | Zero Hedge

Appeareantly they are selling in times when there is low volume trading.

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  #637 (permalink)
 xelaar 
prague, czech republic
 
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CFuture View Post
I wish you further success.

A piece of thought on the instrument you have chosen.
There is not only manipulation in the retail forex or professional markets by big size scalpers flipping prices around. Gold is manipulated by the FED-banks (backed by CFTC) to fake lower inflation rates for massive political reasons.

CFTC Probe Gold Plunge, ?No Visible Central Bank Activity? Say Blackrock | Zero Hedge

Appeareantly they are selling in times when there is low volume trading.

Absolutely, gold is highly manipulated. This is why I believe nothing can be more fruitless than trying to predict gold's direction. I believe the only way to trade gold is to trade short term momentum and different order flow phenomenons such as stop run, backfilling, etc.

I won't be trading for my combine today due to FED day. I am demo trading DAX and Crude today. Clearly for DAX this exact entry type is not optimal, I need to find a way to get fast on these moves. For Crude, however, it looks like it is working even better than for Gold.

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  #638 (permalink)
 xelaar 
prague, czech republic
 
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Some decent trading on demo today. S5 gave me more time to test their platform till the end of the month. All good but their demo CL feed is horrible, half ladder disappear all the time and some stop loss get slipped 50-100 ticks regularly. No way to keep accurate stats. Otherwise good.



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  #639 (permalink)
 xelaar 
prague, czech republic
 
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Well I pretty much blew combine today with being down like -2000. Almost deliberately after feeling crippled having CTS lose data feed 2 times during the day (OEC was fine) and as a result having inconsistent data which screws up all indicators. Besides, the platform draws tick range bars differently to OEC or Ninja, and as a result all price-based indicators for these charts are misplaced. I attempted to use charts from OEC and only trade from DOM in T4 but at the end lost any feeling for what is going on. Same crippled feeling as trading live with T4 for TST, as they don't give any live charts with it, only DOMs, so you have to trade with either demo charts and live DOMs or use 3rd party charts. Weird at least, saves few bucks a month perhaps.

Any way, there were good trades along the way but I wasn't able to catch any of them in T4, all missed by 1-2 ticks, simply because it took to much time to look at OEC charts, notice the price points and then look on DOM in T4 and try to move order there. Never had this problem with any other platform, because I used screen trading instead. If you scalp DOM without looking at chart or trade from positions not relative to current market price, then it is not a problem. Wasn't a problem with my old trading style but again I developed it specifically for Combine and for T4. Now I just have a common sense system and tested it with OEC. And I have a problem.

I don't even want to start about having ridiculous setup with 2 DOMs each set for half position size to manage 2 different targets. And having to click in both DOMs to enter the order. And having no real trailing/break even. OMG.

I feel infuriated and frustrated, because I know I have a good system but cannot trade it with crippled toolset given. I would love to do another Combine and bang results on the wall, but hey, is it good enough reason to spend a lot of time and effort again to develop a combine- and t4-friendly approach? Or just trade for the money, not paper badges?

I killed (almost) this combine as I felt so bad with the setup I just did not want to do that again. I still might consider trading with T4 and doing a Combine with another style that does not require such a dynamics in position management, perhaps based on systems taught at CTD, but really I don't see value to try to bend my momentum systems to suit incapable toolset provided by TST.

If it all sounds confused, well, this is because it is.

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 jlwade123   is a Vendor
 
 
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xelaar View Post
Well I pretty much blew combine today with being down like -2000.

Really sorry to hear about your combine and all the trouble you are having with getting charts to work with the DOM. I hope you hang in there, try another one, or trade forex with your system. You have developed a great skill set and are capable of making money. Keep it going.

Julie

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  #641 (permalink)
 Daytrader999 
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I'm really sorry to hear that Alex.

Perhaps it might be worth a thought to continue trading your live account by trading your proven strategy you used during your first combine (if the markets are liquid and volatile enough) and keep on developing and testing your new strategy in parallel without the restrictions of T4 platform.

Meanwhile, to speak for myself, I'm trading my live account and gave up completely on taking a combine with TST not only on T4 platform but on NT (which imo will never work with TST) as well.

Just my $0.02...

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 xelaar 
prague, czech republic
 
Experience: Intermediate
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Daytrader999 View Post
I'm really sorry to hear that Alex.

Perhaps it might be worth a thought to continue trading your live account by trading your proven strategy you used during your first combine (if the markets are liquid and volatile enough) and keep on developing and testing your new strategy in parallel without the restrictions of T4 platform.

Meanwhile, to speak for myself, I'm trading my live account and gave up completely on taking a combine with TST not only on T4 platform but on NT (which imo will never work with TST) as well.

Just my $0.02...

Thanks. I plan to keep on going and keep posting in here, blogging and sharing screenshots. I do believe my system is good, and I do believe my new system is good too. I had some good developments for DAX today, that would be a perfect market to scalp in the morning and be done!

I still have CTD course going for a long time, so I will keep up with TST developments but I don't have any intention to come back to combine with anything requiring dynamic order management. I might be better off completing CTD course and using a combine like an incubation test bed for the system development that I can take live to Forex markets.

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Trendlinebreak
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Sorry to hear that, Alex, but I thought the max loss/day was -3k?

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  #644 (permalink)
 xelaar 
prague, czech republic
 
Experience: Intermediate
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Its true, combine is active. I am just so frustrated at xomplications out of nothing I dont want to continue. It will be active for two months so I might use it later for nore position based trading method but I dont want to touch it at the moment.

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  #645 (permalink)
 xelaar 
prague, czech republic
 
Experience: Intermediate
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I probably have overreacted yesterday out of frustration. Sorry for that rant, guys.

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Sayounara
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xelaar View Post
I probably have overreacted yesterday out of frustration. Sorry for that rant, guys.

well, you were brave/confident enough to try another combine, surely that counts for something.

I think you really need to work on your trade management. as far as I can tell, you've an amazing strategy, and you've great execution. but it seems that your trade management has really been your weakest point. it was poor trade management that cost you your live account with TST, I'm sure that you'd agree with me that sh*t does happen in trading so you should have accounted for it, and it was poor trade management that has caused you to breach combine parameters this time.

I'm also suffering from poor trade management, I haven't traded for a few weeks, because I have lost confidence in managing my trades properly. so I have been sitting on the sidelines thinking about what I should do next. so far I haven't figured out a solution.

your problem with the platforms partly contributes to your poor trade management. ninja is still unstable, T4 is too unwieldy for trading fast markets. what I don't understand is why haven't you tried Sierrachart? it works with CTS datafeed, it's very stable, you can trade from the chart, it has very nice customizable dom, you can even trade from your keyboard with customizable shortcuts, I haven't seen you do automated trading, but if you do, they have it. so why don't you give it a try? TST even offers a 3 months sierra chart free trial to its combine traders.

anyway, I wish you all the best in trading, and that croatia seaside picture looking up that hill is just stunningly beautiful.

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  #647 (permalink)
 xelaar 
prague, czech republic
 
Experience: Intermediate
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Thanks, Sayonara.

I don't consider trade management being too sloppy, indeed, I have open questions for trailing the runner, but this is still work in progress. Other than that trade management is easy for momentum strategies.

The problem with T4 I have is order entry mostly. It just required too much actions in a very short span of time, and since there is no chart trading, it requires to glance at the chart than at the DOM, then back at the chart, and on and on. Then I found that tick data is inconsistent in T4 at range bar charts. So I had to use yet another platform to get my levels. As a result the setup is untradable.

No trade management killed combine. Combine is still alive and I could get it to roll over had I paid for it. It is a complimentary combine for ex live trader, so I am not sure if it can be rolled over. Nor that I want it. Yesterday I started simply shooting from the hip after I missed a bunch of great trades due to weird and slow setup and being unable to place order fast. T4 cannot even let place market order with buy sell button and have AOCO attached to it.

Sierra charts is a good option, I thought a little about it. I did not need it for my original system and setup as T4 was satisfactory. For me to complete the first combine was something symbolic, a proof, now it is just hard to justify why I need it. As for live account with TST, honestly, their restrictions outweigh benefits. I can fund myself to the same extent.

And no, trade management did not cost me a live account. Hitting summer dolldrums and as a result being succeptible to style drift was. But even it did not cost me, I haven't hit any drawdowns. I hit some absolutely arbitrary rule that kicked me out. Funny enough, I discussed my new system and risks involved with Hoag few days prior to that and he approved it. Did not mention that I could get hit by this rule. That is of course should be my own concern and I missed it. All said, it would not mean anything special would I be trading my own money.

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  #648 (permalink)
 jlwade123   is a Vendor
 
 
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The system works well and has been tested. Keep it going. Don't give up on combine. Practice on the DOM some more with chart beside it, I'm sure you can figure it out.

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  #649 (permalink)
 xelaar 
prague, czech republic
 
Experience: Intermediate
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I think I became too focused on Gold, while drifting further and further away from my original trade ideas that get me to gold. I never considered gold for any "normal" trading style, but after spending so much time with gold I naturally come back again and again to it. Even T4 troubles would be much less apparent with slower instrument.

I am very interested in DAX now, but I will be looking for CL and ES for US session too. I will stop any time waste on gold, and would only consider trading it with my original ideas: stop run (which suffers from slippage so only very key levels then) and huge candle momentum trading. Any attempt to trade gold with small stop relying on orderly market character is a no go for gold, it's too sloppy and ticks are almost random during active phases.

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  #650 (permalink)
 xelaar 
prague, czech republic
 
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Best trade locations for my new systems also tend to be around Day High or Day Low, trading both ways, with strong momentum that keeps pushing HOD/LOD, and then exhaustion and price flight back to value. Basically there is no high probability trading in fat part of the profile. Only chop.

I will review this week worth or trading over the weekend and will come back strong with an updated plan. I will start implementing it next week with the aim to get ready for limit live trial in 2-3 weeks time.

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TheDude
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Why are you so determined to do a TST combine?

If you have a working system you dont need TST as the splits and position limits dont seem to really be rewarding enough for all the effort. You'd be better off trading your own account, building it up for a few months, increasing your own size, then keeping all your profit rather than a lousy split.

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  #652 (permalink)
 xelaar 
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Why are you so determined to do a TST combine?

If you have a working system you dont need TST as the splits and position limits dont seem to really be rewarding enough for all the effort. You'd be better off trading your own account, building it up for a few months, increasing your own size, then keeping all your profit rather than a lousy split.

You are absolutely right. I just got somehow hooked on it like on a drug. Doing one Combine was fun since it proved myself as disciplined trader and did increase my discipline. I benefited from it. But I lost a lot of time, as combine took away 1.5 month and then all their super slow administrative procedures took another month and then it was a summer market. Definitely it not worth doing it all over again. I planned to use free combine I have as a test bed for my new system, but it aggravated me so much with incapable toolset, I see it now as a hurdle, not advantage. After all my own excel reports and analysis are far more superior than their trade report. The only advantage they have is 3rd party credibility and this is why they are so regarded by other, as with anyone's own report you can exclude trades you don't want to see in it or cook it altogether. However as I am not seeking capital nor paid followers it should matter not.

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  #653 (permalink)
SteveH
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Guys, if both of you are under 30, you are wise beyond your years.

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TheDude
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xelaar View Post
You are absolutely right. I just got somehow hooked on it like on a drug. Doing one Combine was fun since it proved myself as disciplined trader and did increase my discipline. I benefited from it. But I lost a lot of time, as combine took away 1.5 month and then all their super slow administrative procedures took another month and then it was a summer market. Definitely it not worth doing it all over again. I planned to use free combine I have as a test bed for my new system, but it aggravated me so much with incapable toolset, I see it now as a hurdle, not advantage. After all my own excel reports and analysis are far more superior than their trade report. The only advantage they have is 3rd party credibility and this is why they are so regarded by other, as with anyone's own report you can exclude trades you don't want to see in it or cook it altogether. However as I am not seeking capital nor paid followers it should matter not.

Lets hope this is a good warning to others thinking of going down this route. Even the free combine will cost you money (lost opportunity).

Sometimes we all forget the basics like 'never marry a trade'!

If anyone wants to be funded, they should IMO get a job in an arcade/prop firm. They will get a better crack of the whip that what TST will offer with their tedious risk management metrics that seem to stop people being able to really gear up when the opportunity is available. I think TST is a great idea in principal, but in practise it's just doesnt work. It needs a rethink.

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  #655 (permalink)
 TheMetaGame 
Grand Rapids, MI USA
 
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xelaar View Post
I don't think tools are too important. Besides, T4 has a server-based trailing stop, something very rare, if Sieera is having a different trailing stop it can only be a client-based trailing, since it connects to the same T4 back end. In the end it does not make much difference.

I highly suggest you at least try using Sierra Charts being they are both CTS software. They have a ~90 day free trial you could use for another Combine. With your momentum based method, you can configure your OCOs to auto move your SL to a set offset amount after price has moved X ticks in your favor, as well as implement the standard trailing stop. Best of trading to you Xelaar!

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 xelaar 
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I highly suggest you at least try using Sierra Charts being they are both CTS software. They have a ~90 day free trial you could use for another Combine. With your momentum based method, you can configure your OCOs to auto move your SL to a set offset amount after price has moved X ticks in your favor, as well as implement the standard trailing stop. Best of trading to you Xelaar!

Thanks. I might check Sierra out sometimes in future. For the moment it won't solve anything, as I simply don't want to scalp gold again. It wasn't my intention originally, I just somehow got dragged to it pretty much by TST requirements and expectations. An attempt to get away from scalping cost me a live account, there simply wasn't enough leeway to get it working properly.

For the moment I want to focus on developing robust trading systems and slowly taking them live. TST adds too much additional strain, stress and very restrictive schedule. I have already been there and know what to expect. This is the case where journey is better than a destination. IMO.

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For the moment I want to focus on developing robust trading systems and slowly taking them live.

Sounds like a good plan and is what I am working on too. I do like your 1 range bars with 75/200 MA for crude too.

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 Itchymoku 
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new webinar?

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 xelaar 
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Sounds like a good plan and is what I am working on too. I do like your 1 range bars with 75/200 MA for crude too.

Yeah, I have good results in DAX, did quite a few trades today, up and down, in the end +175 eur but would be even with commissions. Given that it is still very new to me and I constantly try different ideas and do lot more trades than I would do when I settle with rules, it is not bad at all.

Gold wise, I was trying to find signals I used in my orginal combine, and apparently market has changed quite a bit since spring/early summer. These pushes are more shallow, there are no more candles 500-100 ticks wide in range. I can't see any profitable opportunity by joining the market after large move has started - there is a lot of whipsaw even when market is very biased, and I don't want to use large stops because in gold any large stop can be too small for the whipsaw trick market is giving out. So I only consider for the moment fading levels and after the break out fading break out levels retest (kiss goodbye). It's low intesity trading and could easily be done at T4. But let's see first what sort of feedback market will give me.

Crude, I am still unsure how to trade it, it's half way between DAX and GOLD, less volatile than gold and more orderly, but has bigger swings than DAX. So it is decent. I will look for same rules as for DAX for the moment. I also updated my Jigsaw tools for OEC Trader and starting to use strength meter.

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 xelaar 
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new webinar?

Is it a suggestion? I know I promised one to Mike but following my fallout from TST I really did not have it on my mind. However I might put something together in next few weeks as I keep getting good results.

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 xelaar 
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Today's DAX development trading. I have started originally as last week but later on updated Jigsaw tools and launched them, looking especially at strength meter. Early to tell, but I felt like it helped me to filter out few bad trades and gave confidence to enter 1-2 more risky trades I would not do normally without apparent strength of market on my side.

Still need to think about stop size, so far I use the minimal stop 3 ticks, it works many times when trade is ok, but there are few times where slightly larger stop could do better. It's a question though which approach is more profitable. I have a tendency to go for high precision entries with smallish stops, getting several knock outs but one winner pays for several losers, as I hate to see trade going into red when level clearly busted. There are cases, though when I get stop out but premise is not lost yet and some of these would work with 5-6 tick stops. Remains to be seen.









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 Itchymoku 
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Is it a suggestion? I know I promised one to Mike but following my fallout from TST I really did not have it on my mind. However I might put something together in next few weeks as I keep getting good results.

Oh thanks, I'd appreciate it. I guess you could consider it a suggestion. I saw you did a webinar off of bmt and was just curious if you were going to do another.

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 xelaar 
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Oh thanks, I'd appreciate it. I guess you could consider it a suggestion. I saw you did a webinar off of bmt and was just curious if you were going to do another.

Alright, then I would appreciate suggestion for the topic

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 Itchymoku 
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I'm going to skim through the stophunting webinar and see if you missed anything or what you could add with a new webinar. I know I personally would enjoy maybe a webinar on trade execution - stop loss placement/ profit targets and how you identify momentum or favorable conditions for trading

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 Itchymoku 
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Pardon for my mistake, now that I think about this I'm not even sure if this was you in the webinar below because of the different looking charts or a suggested webinar you posted
Webinar IV- StopHunters - MarketDelta's library

Either way, A new webinar would be great

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 xelaar 
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Pardon for my mistake, now that I think about this I'm not even sure if this was you in the webinar below because of the different looking charts or a suggested webinar you posted
Webinar IV- StopHunters - MarketDelta's library

Either way, A new webinar would be great

That's not mine, I never did a webinar at futures.io (formerly BMT), I did one for Pete Davis' website, Jigsaw trading, about order flow trading.

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 xelaar 
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Another take on CL and GC, but other way around. I like this approach because it has a nice structure - known stop, clear invalidation of premise, clear price action (as it is a reversal) ahead with possibility to plan targets.







I will look tomorrow to attempt to trade DAX with the same approach.

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Alright, then I would appreciate suggestion for the topic

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 garyboy275 
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I probably have overreacted yesterday out of frustration. Sorry for that rant, guys.

You didnt overreact-just a normal reaction from any good trader. Its the same question I have had for a while-why would they put their own-backed traders in such a spot when there are other better platforms available ? Unless their strategy is to have guys keep taking a combine until they have paid for their initial loss. There are enough frustrations for a trader without having to worry about their platform for one. T4 feels like a dinosaur compared to OEC. OEC has had some problems but they seem minor compared to what T4 puts you thru.

Anyways goodluck in what you are doing. I do feel sorry that you had all these problems with T4-wish they would give a choice between T4 and OEC.

Its a good option for folks who are short on their own funded account but if you have your own money its not a 50k or 150k account they are funding-you could trade the same size with a 25-50k account of your own and keep 100% plus the tax benefits of futures trading--TST treats you like a contractor so no futures tax benefits.

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 xelaar 
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You didnt overreact-just a normal reaction from any good trader. Its the same question I have had for a while-why would they put their own-backed traders in such a spot when there are other better platforms available ? Unless their strategy is to have guys keep taking a combine until they have paid for their initial loss. There are enough frustrations for a trader without having to worry about their platform for one. T4 feels like a dinosaur compared to OEC. OEC has had some problems but they seem minor compared to what T4 puts you thru.

Anyways goodluck in what you are doing. I do feel sorry that you had all these problems with T4-wish they would give a choice between T4 and OEC.

Its a good option for folks who are short on their own funded account but if you have your own money its not a 50k or 150k account they are funding-you could trade the same size with a 25-50k account of your own and keep 100% plus the tax benefits of futures trading--TST treats you like a contractor so no futures tax benefits.

You are right, but T4 was fine for my original trading methods, it's just not suited for fast moving markets and attempts to modify orders fast. For me TST wasn't really about getting funded account, it was rather about winning a contest, a competition, a challange. I guess after I won it and got into funded account routine I did not appreciate it much, to stick with the original system and just wait doldrums out. Oh well, easy come easy go.

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 xelaar 
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High-low hunting today.

Looks like it can be done pretty well, just need to hold on the runner even if means to get several in a row hitting BE. Holding a runner to a mid-range can make any day.









End result +283.40 USD, 23 cars traded, net result +170 USD

Not something to brag about, but things get better. And all done in 1 hour. Me likes it.

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 xelaar 
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Not the best day to long crude as it started to collapse but I did the best I could so far. Will see if we get some tradable range on the lows later after it opens.




All limit entries, no slippage, only fun and games.

+310 less 8 commissions = +270

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 xelaar 
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I was feeling like doing something after I finished with crude early and decided to see if I can trade same way on gold but using T4 (no fast modifications required for this approach) and maybe I can save combine, just for fun. It took few strikes, but I nearly did it.


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 garyboy275 
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Just wanted to make sure you are aware of the "new" max drawdown rule. As per my understanding now it counted from the high point--since your first day was positive increase the highpoint by that much. Since it wasnt a big up first day but keep it in mind going forward once you have bigger updays

"I will ensure my Account Balance will not hit or exceed my Minimum Account Balance (Account Balance High - Max Drawdown = Minimum Account Balance)"

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 xelaar 
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Yeah I know, thanks. I wasn't anywhere close.

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 xelaar 
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OEC is not making it easy today. I wanted to continue my roll in DAX,woke up in time, sat behind the screens, and platform refused to work, it keeps placing orders that don't get activated (remain in grayed state on screen) nor cancelled. I had to resort to marking my possible orders instead.





My demo is ending soon, I will have to ask for another one and negotiate for margins. There might be a problem as OEC (I understand that S5 clears via them too) is very strict with margins so there might be a problem. I am a proponent of keeping at broker's as little as possible.


If so I will go back to AMP futures, will have to fork out 30 euro per month for EUREX data feed, but hey it's not a big deal. Bigger issue is that I can't use Jigsaw with Multicharts there, and I don't want to deal with Ninja, and MC native tape tools are non-existing (most primitive DOM and no tape at all), so it might be a bit of challenge. Need to think about.

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 xelaar 
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You can start reading 68 pages back

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 xelaar 
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Combine in gold is fixed and some, now I can focus on trading crude. New trading style suits t4, except absence of ATM and split targets.

Thus said, I am not really focusing anymore on combine, but I will try to use it to prepare to trade crude responsibly before I go live. So my aim is to finish positive on crude and report will assist me with that. If I make to the profit target so be it.

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 xelaar 
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Crude trading was intense. I am not specially pleased with the results - it was constantly moving above and below 0 equity only accumulating commissions without a fail. I did few redundant trades and could have held few others for larger profit but overall too much trades, I should simply call a level, check out the reaction and trade it without the need to take small profits or bring to BE too fast. I need more trust in my entries and this will come with accumulating experience. I am pretty sure crude is good for trading it. I just need to recognize when to stop fading and start going with the flow by fading pullback consolidations. Late in the day it worked well and saved the day.

Overall +960 but 690 in commissions, so net profit is puny +270. Still ok.



I will walk through all 22 trades in a next post and explain reasoning and what can be done better.

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 xelaar 
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but 690 in commissions

I hope you are counting in pesos.

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 xelaar 
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I hope you are counting in pesos.

In topstep dinars

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  #683 (permalink)
 xelaar 
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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.



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


Possibilities to enter on that move low early.


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.


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.


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




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


Not bad trade but failed.


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.

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  #684 (permalink)
 xelaar 
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Pretty much self-explanatory. 6 ticks stop used, test box is 5 ticks.

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  #685 (permalink)
 xelaar 
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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.





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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 xelaar 
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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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 xelaar 
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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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 xelaar 
prague, czech republic
 
Experience: Intermediate
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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.








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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 xelaar 
prague, czech republic
 
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 xelaar 
prague, czech republic
 
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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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chambemk
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I'm going to skim through the stophunting webinar and see if you missed anything or what you could add with a new webinar. I know I personally would enjoy maybe a webinar on trade execution - stop loss placement/ profit targets and how you identify momentum or favorable conditions for trading

yes, i would like that too. then you could also trade my personal account for me while i sit on a beach

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 xelaar 
prague, czech republic
 
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Only 2 trades today, one is momentum long, this flopped on a larger that 10 ticks pullback, and a fade highs which had an excellent entry. I took it off early again, to offset the loss earlier and end the day positive, as I did not want to trade more on end of month/quarter day even on demo.




First trade -10 ticks x2
Second trade +14 ticks x2

End result +112.5 eur less 20 bucks in commissions.

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 xelaar 
prague, czech republic
 
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5 trades in crude today. Which is encouraging - I am improving. Actually only 3 setups, two setups took two trades to get into it.

Anyway, all was done ok, I just missed a huge runner from the second trade, but with market gapped down that kept running down it was hard to expect. I expected a huge runner from the last trade but after seeing it unable to fall from highs and still gravitated to the trend line, I cut it. This time it was a right idea and market jumped almost instantly, but still I would be better off if I kept my second trade runner to the good target and let the runner of last trade to flop at BE or a small gain. Still I made profit today and so far it is the biggest gain in combine. Last trade made almost a grand and took me out of misery into the profit.






All said I feel like I am certainly improving on both taking less trades but sticking to more decisive ones and on holding trades longer. I held one for 21 minutes today, it's unthinkable for xelaar 6 months ago

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 xelaar 
prague, czech republic
 
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Talking about individual trades, I have doubts about first trade - market spent some time out of LOD and came back, I should have waited for a break of LOD instead of being satisfied with a quick test short of matching the LOD. Same with 4th trade - new high in a proper trade location was established but I wasn't able to enter right away, and as market came back there only after some time, I should have waited for high to be broken by few ticks to satisfy early stop runners. I was too hasty to enter. This is something I also need to improve. My plan outlining this entering principle in a great detail.

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 xelaar 
prague, czech republic
 
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Sent from my GT-N7100 using Tapatalk 2

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 xelaar 
prague, czech republic
 
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Did not trade Dax today. On the Crude frontier, started off with a loser for 10 ticks, decided momentum down was good so I put up a momentum trade, only to have it reversed right to the tick to its stop at -10. So a bad start with 6 cars, -630 right in a hole. Tried to catch a bottom, first failed, lost sixticker. Second attempt worked fine. But the best trade of the day could be a swing high I captured. However I was worried about the worrisome state of daily P/L and closed it out fully. It could be a monster 70-tick runner should I held. This becoming a trend - I make few losses and miss out runners. So I will now keep my first scale out at 20 ticks and let the runner run when trading with trend.







Overall +420 net on the day. Paid 210 in commissions. Slowly but surely I improve.

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 xelaar 
prague, czech republic
 
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Great summary on how to turn yourself into a good trader in 3 simple steps: The 3 Barriers to Consistent Profits in Intraday Trading | Dubai Prop Trader

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 xelaar 
prague, czech republic
 
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 xelaar 
prague, czech republic
 
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I have moved my test platform to Ninja today. Some of you may know I have my reservations against Ninja, but there is no love with OEC as a potential platform to go live with. Mostly due to uncompetitive margin requirements from OEC (and therefore from S5 etc). So I was setting up (demo from Mirus/ZenFire) and testing. Also ECB was today and it did not help later trading. Initial hours were ok. I plan to only trade Dax from 9 to 10 AM.

Crude wise. I made many consequtive losers trying to catch on a pullback reversal and jump on trend. I need to focus on entry criterias. However said, I slowly get to the stage where one winner offsets 3 losers so it's weirdly ok. I just need to get these big runners run, because being break even after commissions or slightly positive is not a business I want to be in. I need to rack up massive profits!

My best trade today was +32 ticks on a runner, 6:1 reward to risk. It was my worst trade too - 1 minute later it started to go to the moon, it could be 100 ticks runner. But I closed my first target at around +28 so it wasn't bad all in all.

I missed my second runner too, but I just wanted to be done for the day, so I took it off. This is the problem with racking up losses - when there is a chance to get back to black you can hardly resist it. I did resist today so I came out from loss to +840 net in one last trade. Halleluwah!









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 xelaar 
prague, czech republic
 
Experience: Intermediate
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Here are the considerations I will be applying to trading from tomorrow based on my current discoveries:
1. Look for a trading zone as per original plan
2. A small range or double top/double bottom has formed
3. Wait till it is broken by 1-2 ticks with no continuation, fade the breakout
4. Target 20-25 ticks on first target and 40-80 on second target, 6 ticks stop, no break even
5. Stop trading for the day after getting one runner under the belt, keep trading until getting one runner in, don't take small winners at all

The reason is there will always be a winner if you take all setups consistently, and one winner will take you back above and beyond. Currently I keep cutting runners short (even though I have improved a lot) and take more trades, more losers in, and then get a runner that I don't exploit fully. Ideally I will be looking to get onto the freight train that will take me far. That would allow to overcome possible bad day when I might get out of ammo before hitting a jack pot. But this plan should allow me to trade less and exploit good trades at best.

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