Trading fast markets - futures io
futures io futures trading



Trading fast markets


Discussion in Trading Journals

Updated January 25th 2016 by billbohm
      Top Posters
    1. looks_one xelaar with 561 posts (1,326 thanks)
    2. looks_two Pedro40 with 29 posts (21 thanks)
    3. looks_3 podski with 26 posts (60 thanks)
    4. looks_4 kevinkdog with 22 posts (51 thanks)
      Best Posters
    1. looks_one xelaar with 2.4 thanks per post
    2. looks_two podski with 2.3 thanks per post
    3. looks_3 kevinkdog with 2.3 thanks per post
    4. looks_4 garyboy275 with 2.3 thanks per post
    1. trending_up 141,307 views
    2. thumb_up 1,983 thanks given
    3. group 120 followers
    1. forum 977 replies
    2. attach_file 516 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 100,000 members
  • Genuine reviews from real traders, not fake reviews from stealth vendors
  • Quality education from leading professional traders
  • We are a friendly, helpful, and positive community
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts
  • We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

(If you already have an account, login at the top of the page)

 
Search this Thread
 

Trading fast markets

(login for full post details)
  #71 (permalink)
Legendary Market Wizard
Cleveland Ohio/United States
 
Experience: Advanced
Platform: Tradestation
Broker: Tradestation, DeCarley, others
Trading: futures
 
Posts: 2,768 since Jul 2012
Thanks: 1,422 given, 5,327 received


xelaar View Post
Kevin I think you are right in your approach but it seems you are dealing mostly with mechanical or even automated systems. With systems that apply discretion it is a constant adaptation process. Rules written dont describe any intricases appkied when taking setup or closing a trade. In my case taking setup 1 only applies to very volatile market with sustained continued move on high volume. We dont those right now which is normal after huge moves like we had recently. So technically I no changing rules About 6 ticks stop yes but this all pretty much work in progress. If I get too much stop outs and can see 10 ticks would save me good trades that run into profit I will revert to 10. Adapt.


Excellent points. I have never been long term successful with discretionary trading. One possible reason: I probably am trying to be too rigid in any rules I apply to discretionary trading. As you say, that approach may be more suited to mechanical trading.

For me, if I have flexible or adaptive rules, I can never prove to myself I actually have an edge, and therefore my confidence (and the ability to trade) is gone.

Follow me on Twitter Reply With Quote
The following 3 users say Thank You to kevinkdog for this post:

Can you help answer these questions
from other members on futures io?
Convert NinjaTrader NT7 indicator to Tradestation EasyLanguage and RADARSCREEN
Platforms and Indicators
Issue meeting order entry conditions
Elite Automated NinjaTrader Trading
Last 5 minutes Label
ThinkOrSwim
Moving average with Lag reduction
NinjaTrader
Linux?
ThinkOrSwim
 
Best Threads (Most Thanked)
in the last 7 days on futures io
FIO Journal Challenge - June 2020 w/SharkIndicators
71 thanks
Spoo-nalysis ES e-mini futures S&P 500
66 thanks
Bookmap vs Jigsaw Daytradr
31 thanks
What is your single biggest weakness?
27 thanks
AMP Futures / AMP Global Review
27 thanks
 
(login for full post details)
  #72 (permalink)
Cincinnati Ohio
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Futures Broker
Trading: FX, Stocks, Options
 
Silver Dragon's Avatar
 
Posts: 1,784 since Feb 2011
Thanks: 5,056 given, 4,105 received


xelaar View Post
Thanks for cheering up, guys! Profitable trading according to plan is indeed boring But here is a phrase I heard from someone: "Treat your trading as a hobby and it will pay like a hobby". So trading is not a hobby for me, I have my hobbies elsewhere. I have a lot of them, in fact.

@xelaar

What you say is so true! My mentality has changed with the combine I am in now. I now see trading as a life long process. So yes, boring comes to mind! lol But it is also very rewarding. I see that now.

Good luck with the rest of your combine.

Robert

nosce te ipsum

You make your own opportunities in life.
Visit my futures io Trade Journal Reply With Quote
The following user says Thank You to Silver Dragon for this post:
 
(login for full post details)
  #73 (permalink)
prague, czech republic
 
Experience: Intermediate
Platform: NT7, MT4
Broker: LMAX
Trading: DAX, Gold, Euro
 
xelaar's Avatar
 
Posts: 1,517 since Feb 2013
Thanks: 1,740 given, 2,565 received

Day 11 - a good day


Another day behind. I thought it would be no trade day or somewhat break even day in small gain or loss, because in the morning (O/N session) volume was ridiculously low. I set up several trade levels but did not put any pending order there because price was so dozy, volume negligible. Of course right then Gold embarked on a rally of over 100 ticks in 5 minutes. No luck for me. But I would probably do the same again, volume and price action was not supporting this move. I tried another setup but closed at +1 tick, price stalled and then pulled back. And then after several hours of waiting a similar move up, finally I got in at the last part and got my fix of +15 ticks on two scale ins 5 cars each.

Then I decided I have did good on the day to do several tests. Small winners and losers there, no essential to the overall results. Overall around 1.5k in profits net today, knocking on 7k gains on the combine. Stats improved too, only 26 days to pass, or 15 more with this average. We shall see.



Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
The following 2 users say Thank You to xelaar for this post:
 
(login for full post details)
  #74 (permalink)
prague, czech republic
 
Experience: Intermediate
Platform: NT7, MT4
Broker: LMAX
Trading: DAX, Gold, Euro
 
xelaar's Avatar
 
Posts: 1,517 since Feb 2013
Thanks: 1,740 given, 2,565 received


Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
The following 4 users say Thank You to xelaar for this post:
 
(login for full post details)
  #75 (permalink)
desert CA
 
Experience: Intermediate
Platform: NT7, TOS, CQG-trader
Broker: AMP, DT, TDA
Trading: CL,NQ,YM
 
Posts: 2,128 since Jul 2011
Thanks: 2,367 given, 1,700 received

I just caught on to your TST journal Xelaar. Congrats! and thanks for sharing your journal. Nice to see the progress continuing on from your other journal.

Visit my futures io Trade Journal Reply With Quote
The following user says Thank You to Cloudy for this post:
 
(login for full post details)
  #76 (permalink)
prague, czech republic
 
Experience: Intermediate
Platform: NT7, MT4
Broker: LMAX
Trading: DAX, Gold, Euro
 
xelaar's Avatar
 
Posts: 1,517 since Feb 2013
Thanks: 1,740 given, 2,565 received


Cloudy View Post
I just caught on to your TST journal Xelaar. Congrats! and thanks for sharing your journal. Nice to see the progress continuing on from your other journal.

Thanks for good words, Cloudy. I have seen the original version of your post and wanted to tell something. I am not new to this game, true, but I have yet to conquer many weakness of mine that influence my trading in a bad way. I know them and while very slowly working on them (takes years and years) try to trade in a way those weaknesses make least damage to my results. I did trade live before for about 1.5 years in a constant style and manner out of my 3.5 years of being an everyday student of markets. This stretch taught me about importance of being stable with your risk management, having well defined strategy with minimal number of setups, preventing any style drift, and more than anything taught about trusting your edge so you can get over the loser quickly and enjoy profits. Journalling was another huge lesson, I have a huge paper book on my trades from planning a trade to actual setup and results.

In regards to this Combine, I like the stability of results but little bit disappointed in quality of setups and gains delivered. I hoped for more originally as market was giving me much more stuff to work with initially than now. Thus my rule of 3 losers, I did have 3-5 genuine setups to work with a day. Now it's 1 or 2. The rest of trades I do is more less exploratory. I am thinking about reducing a number of tries per day but hiking up the volume to get to the target quicker. But anything you do must be calculated before, you must project this statistics on your trade history to see if it will do more damage than good.

A piece of advice I can have is pretty much what it is in Mike's signature: stop changing things, journal and publish to be accountable to your peers. Also I would add: discover your weak and strong sides and build your strategy to utilize the former and avoid the latter. No successful trader uses exactly the same strategy from another one, you need to make it your own first.

I would just wanted to find out about Combine and TST much sooner in my trading career, for sure it would greatly reduce trial and error learning curve. So don't take Combine as a tool to prove yourself, take it as a learning tool that will put you into an accountable environment with stricts risk management and responsibility. The price they charge will definitely add responsibility and having your records public will add accountability. Just don't take it as a contest.

Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
The following 8 users say Thank You to xelaar for this post:
 
(login for full post details)
  #77 (permalink)
prague, czech republic
 
Experience: Intermediate
Platform: NT7, MT4
Broker: LMAX
Trading: DAX, Gold, Euro
 
xelaar's Avatar
 
Posts: 1,517 since Feb 2013
Thanks: 1,740 given, 2,565 received

Day 12 - jerky day of FOMC

Well it did not promise any good and it wasn't wrong by not delivering it. Gold volume was ridiculously low. First trade was a loser, 7 ticks including 1 tick slippage. Then few small scalps some could deliver at least 10-20 ticks let it them run at BE. One winner at 12 ticks, pretty much all market offered. Then I waited for FOMC planning to put stop buy above resistance and stop sell below double bottom support. It did not work because initial move was small. Then price went up and I put another trade at closer level of stop zone but it tricked me in to the tick, reversed on me, stopped and reversed and went back up. Happens sometimes. No reason to adjust stop or entry. I tried another long at next level, this one could work for 10 ticks or so but hesitated around entry and I bailed at +2. Hard to trade at such low volume day. Happy to end the day positive and not losing.



Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
The following 2 users say Thank You to xelaar for this post:
 
(login for full post details)
  #78 (permalink)
prague, czech republic
 
Experience: Intermediate
Platform: NT7, MT4
Broker: LMAX
Trading: DAX, Gold, Euro
 
xelaar's Avatar
 
Posts: 1,517 since Feb 2013
Thanks: 1,740 given, 2,565 received

Here is something for the day's end...
https://www.youtube.com/watch?feature=player_detailpage&v=yk4ATrsNnFc

Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #79 (permalink)
prague, czech republic
 
Experience: Intermediate
Platform: NT7, MT4
Broker: LMAX
Trading: DAX, Gold, Euro
 
xelaar's Avatar
 
Posts: 1,517 since Feb 2013
Thanks: 1,740 given, 2,565 received


Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
The following 2 users say Thank You to xelaar for this post:
 
(login for full post details)
  #80 (permalink)
prague, czech republic
 
Experience: Intermediate
Platform: NT7, MT4
Broker: LMAX
Trading: DAX, Gold, Euro
 
xelaar's Avatar
 
Posts: 1,517 since Feb 2013
Thanks: 1,740 given, 2,565 received

Day 13 - decent and easy


Today was all about ECB rate decision and Super Mario Death under the Circus Dome show. I had my levels but the ultimate action was due from ECB clowns. I should have hold longer to my first trade but it did hecitate when it should go straight through. So I played it safe today. Another 1k day is not to sniff at. Done for the day now, don't believe any decent moves with NFP in sights tomorrow. Tomorrow will be day to be a tick counter!



Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
The following 3 users say Thank You to xelaar for this post:


futures io Trading Community Trading Journals > Trading fast markets


January 25, 2016


Upcoming Webinars and Events
 

Free BloodHound Licenses for everyone!

June
 

Every journal equals ten meals for the hungry

June
     



Copyright © 2020 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts