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Trading fast markets
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Created: by xelaar Attachments:517

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Trading fast markets

  #771 (permalink)
Trading Apprentice
san francisco
 
Futures Experience: Beginner
Platform: t4
Favorite Futures: cl
 
Posts: 1 since Jul 2013
Thanks: 2 given, 1 received

Congratulations Alex! Really very well done! What I like about your trading is that you were able to pull yourself together after frustrating first days. Great job and Good Luck in season 2 with TST.

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

Combine

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


A 2 contract trade in combine today, well calculated level but boy NFP devastated the market, Gold fell 230 ticks or so in first 5 seconds, eliminating everything. My first half lost 12 ticks and second half I closed at 23 ticks gain, it would make over 100 ticks by now but I did not expect to get triggered on the first move so closed it out to cover first part loss. +100 net and done for the day. 2 more days to go. Taking it slowly but following the plan.

Had few pre-NFP trades in DAX (+30 ticks) and in gold (+5). Will put it into the journal later, still finishing up on Wednesday trades.

Will sort stuff out over weekend, catalogue screen shots and compile a trading play book video with cuts from this weeks trading worth noting. I will share this video.

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

Strategy ahead

Thinking more about instruments of choice I have come up with the following so far:
1. Dropping the Dow, it's just too alien to me and really wakes up 2 hours after US open, i.e. 1730 my time, I prefer to be done active trading by then. And it's hardly fun for me.
2. Consolidating most of my active trading in DAX and Crude. DAX comes first, more I trade it more I like it. Tape reading works exceptionally well on DAX. Crude is similar.
3. I will reserve Gold to only trading around highs and lows with low maintenance setups. It works in other places too, but it works better on DAX and Crude, gold is just too sketchy to trade with tape, it's fine for order flow but need these magnet levels to perform in more streamlined fashion.

I will publish my trading plan over the weekend too.

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

Combine

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

Logging efforts

Finally catched up on my journalling for the Wednesday and Friday. Still making a lot of hasty trades, errors. But journal let you see it with bare eyes, otherwise you forget it next day and keep doing the same.

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

Trade journal

Logged also trades from 7th before the ECB release. I did a lot of crap trades during release and conference, but only as an entertainment, were good and bad, I wouldn't take them either live or in combine (which I did not), so I don't record them. It was all momentum plays that works crap on release.

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

Big fail today! Checked tge schedule on ransquawk and saw no news, said ok. After I lost 5 trades in the row I thought something is very weird, I have good location and market reacts to it but trades cant go to profit, even lousy 10 ticks is off limits. Then squawk qwacked about armstice day and veterans day. I rushed to other calendar and sure, both eu and us have bank holidays. I looked at the volume and it was pretty average but very narrow ranges. Silly me.

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

Given the whole collapse, I will publish trade screen shots so it can be seen where I have failed. Mostly 2 things:
1. Failure to notice bank holiday ahead, and failure to admit market is having very small slow rotations and not offering larger profits
2. Got blinded by several losses in a row and failed to follow the plan and take smaller first scale out and protect as I was looking for a larger win to cover losses, but it was just not there.

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

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

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


Just to let you know, it frustrates me to no end, especially that I could have small winners on 3 of these trades and be at closer to break even. But as now I know we have a banking holiday, going back into the game will only make matters worse. Suck it up and focus on catching up on books and education today. I will look for a quick trade in combine, most likely in crude since gold is in coma, at least for now, but we shall see, I will look after US opens.

Trade to live. Not live to trade.

Last edited by xelaar; November 11th, 2013 at 07:49 AM.
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