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Journey to the top of the steps
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Journey to the top of the steps

  #11 (permalink)
Trading Apprentice
United Kingdom
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: ES, GC, NQ, FDAX, YM
 
Posts: 12 since Feb 2013
Thanks: 0 given, 24 received

Started Funded trader prep on Tuesday and managed to get a trade on each day for $250 total to get me halfway to the profit target.

I've got 10 trading days minimum to make the $500 so just trading 1 contract and taking it easy. My strategy tends to on average only give one entry a day across YM/NQ/ES/CL. I have also missed a few entries as I'm avoiding entering less than an hour before news events that I need to be flat for.

It's nice to see CL getting back up to the $50 area as I found it really hard to trade in the $20s mainly because at $30 for example there are only 3000 ticks, compared to NQ/YM that have 16,000+ ticks.

Here's my FTP so far:

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  #12 (permalink)
Trading Apprentice
United Kingdom
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: ES, GC, NQ, FDAX, YM
 
Posts: 12 since Feb 2013
Thanks: 0 given, 24 received

These are just my stats for the combine and FTP so far.

Manged to only have 1 losing trade out of 49 so pretty happy. Obviously about half of the 49 are just scratch trades but still better than expected so far


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  #13 (permalink)
Trading Apprentice
Surrey - UK
 
Futures Experience: Intermediate
Platform: IB+SIERRA+AMIBROKER+TOS
Favorite Futures: Futures / Options
 
Posts: 41 since Sep 2015
Thanks: 12 given, 6 received

Hi


Looking good mate.


I am in the uk as well.

I have been hunting for a really great platform to backtest and trade and amibroker.com is the Buisness.

So hope that helps you scale up, very easy to backtest results

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  #14 (permalink)
Trading Apprentice
Germany
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: CQG
Favorite Futures: ES, FDAX
 
Posts: 30 since Aug 2012
Thanks: 36 given, 57 received

Hello wannagetst,

Looks really good. Greatly done!

It would be nice if you post some trades of yours (no need for explanations and so on) to get a feel what you are looking to.

Cheers!

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  #15 (permalink)
 R.I.P. 1969-2016 
montreal quebec/canada
 
Futures Experience: Beginner
Platform: CQG/NT7
Broker/Data: IB/AMP/CQG
Favorite Futures: CL
 
Okina's Avatar
 
Posts: 2,149 since Sep 2015
Thanks: 758 given, 5,422 received

I'm sure you'll succeed, the way you're trading is exactly what TST want to have.

My only question is do you only take one trade per day because your system gives you only one signal or is it because you don't need more to pass the test ?

Well deserved success Sir
Cheers

Okina

R.I.P. Olivier Terrier (aka "Okina"), 1969-2016.
Please visit this thread for more information.
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  #16 (permalink)
grappling dummy
Hawaii at the beach
 
Futures Experience: Beginner
Platform: Nt8, MotiveWave, TOS
Broker/Data: S5
Favorite Futures: ES, ZB fine alcohol and muscle cars
 
KahunaDog's Avatar
 
Posts: 476 since Apr 2013
Thanks: 945 given, 345 received

Nice log, thank you for sharing.
Reading your log, I understand to a point what you are doing and how you arrived at some of your conclusions. Going break even as soon as reasonably able. Scratching trades. 123. Thrusts.
I like your image of the scientific theory.

Though I do have contention with a few of your comments.
1. roughly a billion dollar hedge fund can't use eminis. ES is a highly liquid market, if I understand your trading correctly your stops are approximately 8ticks, 1:1. With that 8 tick stop in a reversal you've can enter multiple blocks of 25-50lots. I'm guessing 300 lots. Without swaying the market during rth. This is all non scientific observation based. So even if your max size is 100lots. That adds up quick.

2. "I came to the conclusion that I'd probably need to be looking for entry points where price was likely to immediately reverse to allow tiny stops, but would also move with enough momentum to allow me to cut my risk to break even asap without the issue of chop, and still catching large moves. (I ruled out trading breakouts due to likely slippage and difficulty of back testing accurately over a huge sample size, whereas reversal/retracement points in back testing and practice are more likely to be accurate and not affected by volatility induced slippage)

Now I know what I'm looking for is what most other traders don't see, easy right...."
re- I think most traders ARE looking for this.

3."being profitable isn't what drives me, being right drives me, "
re- It may be semantics but for myself selecting trades with high odds of being favorable to my entry, exit and management is my goal. As in it can be a perfect set up but you can still lose money. Isn't poker the same as trading, play the high probability hands and wager accordingly? I've met a lot of perfectionist who get trapped in being right, without some of the other characteristics you have they'd get killed in trading due to wanting to be right and often they are highly educated valuing being smart. After entry isn't it better to be robotic in your management? imo it is some what related to your post on quantifying.


I'm looking forward to your further postings and progress. Please share more.

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  #17 (permalink)
Trading Apprentice
United Kingdom
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: ES, GC, NQ, FDAX, YM
 
Posts: 12 since Feb 2013
Thanks: 0 given, 24 received


Okina View Post
I'm sure you'll succeed, the way you're trading is exactly what TST want to have.

My only question is do you only take one trade per day because your system gives you only one signal or is it because you don't need more to pass the test ?

Well deserved success Sir
Cheers

Okina

Hi,

Thanks for the kind words.

I just don't get many entry signals with the trading plan I'm using for TST as it mainly enters on trending days. When funded and with a good cushion I will loosen up my criteria to avoid missing value on ranging days.

Cheers

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  #18 (permalink)
Trading Apprentice
United Kingdom
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: ES, GC, NQ, FDAX, YM
 
Posts: 12 since Feb 2013
Thanks: 0 given, 24 received


KahunaDog View Post
Nice log, thank you for sharing.
Reading your log, I understand to a point what you are doing and how you arrived at some of your conclusions. Going break even as soon as reasonably able. Scratching trades. 123. Thrusts.
I like your image of the scientific theory.

I've actually stopped scratching trades now that I've passed the combine. I started scratching to ensure I could hit the 45% profitable days criteria of the combine, but this was removed in January. I wasn't comfortable stopping scratching without backtesting, but during my combine every one of the 20 or so trades that I scratched would have hit my target so I feel okay just having my stop loss and target set. It always felt dirty having an arbitrary scratch point of 8 ticks anyway.

Though I do have contention with a few of your comments.
1. roughly a billion dollar hedge fund can't use eminis. ES is a highly liquid market, if I understand your trading correctly your stops are approximately 8ticks, 1:1. With that 8 tick stop in a reversal you've can enter multiple blocks of 25-50lots. I'm guessing 300 lots. Without swaying the market during rth. This is all non scientific observation based. So even if your max size is 100lots. That adds up quick.

My stops aren't a set amount, and I have a minimum of 15 ticks as part of my criteria. I put my stop in a worst case scenario position, usually somewhere around the 2 point of the 123 thrust that I entered on. My profit target in the combine has been around the same or a bit less than my stop as I am entering at the end of trends.

2. "I came to the conclusion that I'd probably need to be looking for entry points where price was likely to immediately reverse to allow tiny stops, but would also move with enough momentum to allow me to cut my risk to break even asap without the issue of chop, and still catching large moves. (I ruled out trading breakouts due to likely slippage and difficulty of back testing accurately over a huge sample size, whereas reversal/retracement points in back testing and practice are more likely to be accurate and not affected by volatility induced slippage)

Now I know what I'm looking for is what most other traders don't see, easy right...."
re- I think most traders ARE looking for this.

3."being profitable isn't what drives me, being right drives me, "
re- It may be semantics but for myself selecting trades with high odds of being favorable to my entry, exit and management is my goal. As in it can be a perfect set up but you can still lose money. Isn't poker the same as trading, play the high probability hands and wager accordingly? I've met a lot of perfectionist who get trapped in being right, without some of the other characteristics you have they'd get killed in trading due to wanting to be right and often they are highly educated valuing being smart. After entry isn't it better to be robotic in your management? imo it is some what related to your post on quantifying.

I agree with you here and after my entry order is hit I don't touch the trade. I'm trying to enter after a strong 123 with a slow pullback. I find that these entry points have a high probability of moving a small amount, but don't often progress beyond the 3 point of the entry 123. This allows me to have entry and exit points that are determined by the market, but don't require any further input after entry.


I'm looking forward to your further postings and progress. Please share more.

I'm still in funded prep at the moment. Just need to trade another 5 days and make another $200. Still not had a losing trade since February but not had any entries since Monday.

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  #19 (permalink)
Trading Apprentice
United Kingdom
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: ES, GC, NQ, FDAX, YM
 
Posts: 12 since Feb 2013
Thanks: 0 given, 24 received

Hey,

Been a bit busy to post much.

Just hit the FTP target or $500 after 7 days so need to scratch 3 more days to finish it off.

Managed to not have a losing trade or have a trade go more than a few dollars against me so very happy.

Hopefully i'll post more when live but don't really want to post pictures of my entries.

If you PM me a picture of your entry with reasoning then i'd be happy to give my thoughts though. Or anyone can post a chart here and get some discussion going.

FTP stats below. I've had a profit factor of 99 and a sharpe ratio of 1 since Valentine's day - is that decent??

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  #20 (permalink)
Elite Member
Tallinn, Estonia
 
Futures Experience: Beginner
Platform: SC
Broker/Data: Oanda
Favorite Futures: USOil / West Texas Oil
 
lemons's Avatar
 
Posts: 789 since Nov 2010
Thanks: 1,420 given, 1,997 received



wannagetst View Post
Hey,

Been a bit busy to post much.

Just hit the FTP target or $500 after 7 days so need to scratch 3 more days to finish it off.

Managed to not have a losing trade or have a trade go more than a few dollars against me so very happy.

Hopefully i'll post more when live but don't really want to post pictures of my entries.

If you PM me a picture of your entry with reasoning then i'd be happy to give my thoughts though. Or anyone can post a chart here and get some discussion going.

FTP stats below. I've had a profit factor of 99 and a sharpe ratio of 1 since Valentine's day - is that decent??

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We have not seen your charts.
Its more interesting to see your charts entry and exit with reasoning

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