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Trading fast markets
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Trading fast markets

  #931 (permalink)
Elite Member
Philadelphia
 
Futures Experience: None
Platform: corded black telephone
Favorite Futures: ticker tape
 
Itchymoku's Avatar
 
Posts: 2,892 since Apr 2012
Thanks: 1,681 given, 3,622 received


xelaar View Post
I do feel like I strongly need a purpose in my trading besides making money. It's a very lonely and not gratifying experience to be trading alone. Some people start teaching programs, but we always questions them, are they real traders and if such how can they manage to do what they do alongside trading? Well, I have experience in programming, web site development, blogging, and a very little bit of marketing (only dabbed a little to understand this is not mine). Enough to know this all takes incredible amount of time and effort to support. So I can hardly imagine any active trader doing it. This is not to say all mentors and teachers are fake, it's just those to teach actively can't actively trade. Maybe they were good traders and decided to move on. Nothing wrong with that.

Anyway, I want to make money trading, not teaching. Besides, I don't have a nice track record in terms of years of steady trading and returns to support my position. Well, I don't know much teachers (if any) who does that, but I would want to do that if I were teaching. Running the infrastructure is a nightmare in itself, unless you have a team you have to pay to for the luxury of their support. So this is out of question.

The only option that remains is to form some kind of non-commercial group who would be interested to trade is the same of very similar style same products at same time and communicate using TeamSpeak or something like that. Like a self-help group of sorts. So let me know what you think, if it is a crazy idea or not, born dead or alive. Yours truly, Alec

Conference calls help a lot, even chatting via text. I'm not sure if you have any group meets relating to trading but it's always good to meet traders who live close by. The thing with trading though is that most people have very specific and unique ways they trade so it maybe hard to get in-depth conversation but at least you have someone who isn't bewildered with the lingo like non-traders lol.

You could become a travel agent with all your traveling, but the pay is modest. There are so many opportunities if you're good with blogging, web development, and marketing that you could even do a travel blog/forum if you have a lot of pictures and videos. There's always a niche to be found. The catch with blogs and internet related businesses is usually they need a lot of work and take time to get going to the point you're making substantial amounts of money. I know this one kid who was a teenager when he started his and it took years until he started making thousands a month. Here's an interview he did about his career starting homesoftherich.net http://www.lionspire.com/business/interview-luxurious-millionaire-mansion-blogger


Last edited by Itchymoku; August 5th, 2014 at 01:42 PM.
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  #932 (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
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Itchymoku View Post
Conference calls help a lot, even chatting via text. I'm not sure if you have any group meets relating to trading but it's always good to meet traders who live close by. The thing with trading though is that most people have very specific and unique ways they trade so it maybe hard to get in-depth conversation but at least you have someone who isn't bewildered with the lingo like non-traders lol.

You could become a travel agent with all your traveling, but the pay is modest. There are so many opportunities if you're good with blogging, web development, and marketing that you could even do a travel blog/forum if you have a lot of pictures and videos. There's always a niche to be found. The catch with blogs and internet related businesses is usually they need a lot of work and take time to get going to the point you're making substantial amounts of money. I know this one kid who was a teenager when he started his and it took years until he started making thousands a month. Here's an interview he did about his career starting homesoftherich.net Interview with Luxurious Millionaire Mansion Blogger | Lionspire


Thanks, man. I think I might just try to start blogging again, about both trading and travelling. But I would have to stick to the most broad posts about trading, not to make it too technical or boring blog. Maybe I will leave technicals and charts for the futures.io (formerly BMT) )

I will post some pictures into Europe living thread.

Trade to live. Not live to trade.

Last edited by xelaar; August 5th, 2014 at 02:04 PM.
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  #933 (permalink)
Trading for Fun
LONDON UK
 
Futures Experience: Intermediate
Platform: IB XTRADER Jigsaw
Favorite Futures: CL YM BUND NQ
 
Posts: 60 since Nov 2014
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Hey Xelaar,

Are you still trading?
And if so are you happy with the money your making yet?

Very refreshing to have read such a well written insightful thread.
Cheers

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  #934 (permalink)
Elite Member
prague, czech republic
 
Futures Experience: Intermediate
Platform: NT7, MT4
Broker/Data: LMAX
Favorite Futures: DAX, Gold, Euro
 
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xylem View Post
Hey Xelaar,

Are you still trading?
And if so are you happy with the money your making yet?

Very refreshing to have read such a well written insightful thread.
Cheers

Hi Xylem

yes I am trading, but not, not happy with money making as I am not making them at the moment
I have been blogging in a separate thread here but it seems it was a big mistake of mine as very few people visit and nobody posts, probably due to being Elite section blog or because word DAX in the topic name scares people out

You gave me an insight that instead maybe I should continue this thread instead.

Trade to live. Not live to trade.
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  #935 (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 new start

So the decision was swift: I am closing down my other thread at Elite section and returning back to my original thread, here. However, my trading became a bit undisciplined in a sense of lack of commitment and being too sporadic. Hence I had decided to do a shake-down program by running a TST Combine-styled 10 day marathon of strict plan following and performance metric-aware trading.

These are the details:
- 10 trading days
- Max risk 1500
- Profit target 1500
- 1 contract
- Max loss 500 a day / 1000 a week
- Max 3 losses in a row
- Trading time from 8AM till 2PM CET, with preferable window being 9 to 11
- Three distinct sessions: 8-9, 9-11, 11-14
- Only one direction change allowed per session
- Direction change must be confirmed on higher TF by trend rolling over, to avoid trading into "spurrs" of counter-trend volatility
- It trade is stopped out, next trade can be in opposite direction, or a new high/low should be made and signs of continuation present to continue trading in same direction

Instrument traded is FDAX futures, however this style work pretty much with anything. It is order flow-following volatility-conscious trading, helped by cumulative delta volume analysis using custom-made indicators based on Gomi's framework. But in a sense same can be done by watching GomCD and GomCDHA indie, so its just a helping crutch, nothing magic.

Trade to live. Not live to trade.
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  #936 (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

I will be publishing my live stats here and do post-trading analysis for errors and possible improvements.

Trade management:

- two targets 2.5R and 5R, first to be considered in colder market, second in hot market
- stop 1.2R where R is ATR(20)
- break even set as we have a bar closed in positive direction, breaking from a consolidation
- if after the fill price is mostly in negative territory, set to break even as soon as bar closes at entry or positive, i.e. don't wait for a break out
- if price is clearly struggles to continue to profit target, bounces from BB, not marking new hi or lo, printing lots of tails, i.e. - exit

Trade to live. Not live to trade.
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  #937 (permalink)
Elite member
Hertfordshire England
 
Futures Experience: Intermediate
Platform: NT
Favorite Futures: DAX
 
pvlee's Avatar
 
Posts: 92 since May 2011
Thanks: 96 given, 164 received


xelaar View Post
So the decision was swift: I am closing down my other thread at Elite section and returning back to my original thread, here. However, my trading became a bit undisciplined in a sense of lack of commitment and being too sporadic. Hence I had decided to do a shake-down program by running a TST Combine-styled 10 day marathon of strict plan following and performance metric-aware trading.

These are the details:
- 10 trading days
- Max risk 1500
- Profit target 1500
- 1 contract
- Max loss 500 a day / 1000 a week
- Max 3 losses in a row
- Trading time from 8AM till 2PM CET, with preferable window being 9 to 11
- Three distinct sessions: 8-9, 9-11, 11-14
- Only one direction change allowed per session
- Direction change must be confirmed on higher TF by trend rolling over, to avoid trading into "spurrs" of counter-trend volatility
- It trade is stopped out, next trade can be in opposite direction, or a new high/low should be made and signs of continuation present to continue trading in same direction

Instrument traded is FDAX futures, however this style work pretty much with anything. It is order flow-following volatility-conscious trading, helped by cumulative delta volume analysis using custom-made indicators based on Gomi's framework. But in a sense same can be done by watching GomCD and GomCDHA indie, so its just a helping crutch, nothing magic.

I think the rule allowing only one direction change is very important. When I was scalping I tended to flip, which caused over trading, which caused painful days, which caused self doubt and then strategy change. All a total waste of financial and emotional capital

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  #938 (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


pvlee View Post
I think the rule allowing only one direction change is very important. When I was scalping I tended to flip, which caused over trading, which caused painful days, which caused self doubt and then strategy change. All a total waste of financial and emotional capital

Agreed, this is what I have noticed too. However, there are certain flow patterns broadly defined by time of the day, hence "sessions" I described. In a sense, it is possible to just trade a primary window, 9 to 11 and allow just one direction change. It might be wise from risk management perspective too. It remains to be seen if I chose to limit myself to it, perhaps adding 8 to 9 as well. I favor it as it enables a nice lifestyle and free time to be had, instead of being a chair potato imprisoned by markets 14 hours a day.

Last few days market is active abnormal and except Monday, morning wasn't easy, nice trades developed later on. But maybe a power to just let it go and wait for your market in your time is something that is very important. I have at least recognized I cannot understand DAX well after 2 PM when US comes to play, however things do settle a bit around 4 PM. We shall see.

Trade to live. Not live to trade.
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  #939 (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

March 10-11

Let's document first two days of trading using this system. First day I was trading 2 contracts, which I decided to reduce to 1, and avoid taking small scale-outs. It helps on the risk side too.

Tuesday was a shaky day. One two trades were present during prime window but happened to be quick losers. Good trades appeared right after 11 AM but that required a new direction change. I avoided taking it.

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Net day result - 20 points

Wednesday was shaken by Draghi proping up his funny-money program, DAX went through the roof, depriving me of trading. Later, some good stuff came though, but I wasn't really psyched to trade after ADR high was taken and was wary. I did take one entry but bailed for +3 points.

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Net total: -17

I will be putting results into a spreadsheet combine-style later today.

Trade to live. Not live to trade.
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  #940 (permalink)
Trading for Profit
Pittsburgh, Pennsylvania
 
Futures Experience: Advanced
Platform: TradeStation
Favorite Futures: ES
 
Pedro40's Avatar
 
Posts: 555 since Jan 2013
Thanks: 31 given, 361 received


Welcome back!

Wow that direction change rule is strange. Yes sometimes the market is rangebound and turns 4-5 times. They should allow at least 3 changes, that would still cut down on the flippers....

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