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Day Trading from an Ogre's Point of View


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Day Trading from an Ogre's Point of View

  #361 (permalink)
 
TradingOgre's Avatar
 TradingOgre 
Evans GA/USA
Legendary Market Wizard
 
Experience: Intermediate
Platform: NinjaTrader
Broker: NinjaTrader Brokerage - Philip Capital
Trading: NQ,ES,6E,CL
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bobwest View Post
I have no experience with TSTrader, but I was a little alarmed a while ago when you mentioned that you were using it for your Combine.

Why? Well, it's a TST-branded version of Tradovate, a somewhat new platform and broker. Tradovate's claims to fame, as I understand it, are that they have a mobile (web-based) platform (a good thing) and they don't charge broker commissions (they have subscription payment model). You do pay the usual other fees that are not from the broker. I don't believe the TST version has any subscription fees, so the total cost per transaction is attractive, and they do push it, for whatever reason.

Certainly, there are traders on FIO who have used them (Tradovate) and who like them for their regular accounts.

I have no knowledge of Tradovate, good or bad, and can't say anything one way or another about them.... Except that they are (relatively) new. If you want to use Tradovate, cool. But on the TST Combine and, eventually, the funded account, I would have chosen a well-established platform that I knew well (which would be NT or Sierra Chart for me, and there are others), and which would use a data, trade execution service and broker that I knew more about.

This is perhaps just me, but some things make me suddenly turn very cautious.

I do not want to be unfair to either Tradovate or TST, but in some areas I generally let other people try the new things, that's all. Call me chicken.

If you want to stay with TSTrader, fine with me. But if not, you might want to see if you can switch, once you get funded (as I am assuming you will.) They do want you to stay with the platform you passed the Combine with, which is natural, but I think they have allowed a switch before if someone is very familiar with some other platform. I'm not sure what they do currently.

I don't know for sure why you have had these issues with the TST account, and you may never have them again, but if you were on the NT platform you would be going through NT Brokerage and Rithmic....

Just a thought.

Bob.

Originally I thought there might be some sort of conflict since I have my personal account with NT brokerage and I still want to trade my personal account even when funded. It was their preferred interface so I just went with it. What I have been doing with the TSTrader is just using the DOM. I place my pending orders on my account first then add them to TStrader. Pretty easy to manage especially since I am on the 500 tick charts now. Plenty of time to react.

It is buggy on the charting end of things. It won't load enough candles on a chart by default to properly calculate my moving averages. You have to compress the timeline to force it to load enough to be accurate. Bad part is you have to do that every time you change tabs. But since I have my feed from NT it really isn't a major pain. I do actually like their DOM ladder better than NT. It's very easy to see where the larger orders are sitting, if I ever get to the point of knowing enough to use them. LOL!

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  #362 (permalink)
 
TradingOgre's Avatar
 TradingOgre 
Evans GA/USA
Legendary Market Wizard
 
Experience: Intermediate
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Broker: NinjaTrader Brokerage - Philip Capital
Trading: NQ,ES,6E,CL
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Nice trend up last night. Maybe I should have stayed up late instead of getting up early. LOL! Current trend appears to be weakening. Seems to be struggling with this last push up. The old me would have put in a sell stop down around 7615 but that would be counter trend and we don't do that anymore. Will wait for something to develop.




Interest rates today at 2pm eastern. Will probably stop trading around 1 today and not pick it up again until Thursday.

Thursday will bring GDP numbers pre-market so we will stay away from that as well. Restart a few minutes after the announcement.

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  #363 (permalink)
 
TradingOgre's Avatar
 TradingOgre 
Evans GA/USA
Legendary Market Wizard
 
Experience: Intermediate
Platform: NinjaTrader
Broker: NinjaTrader Brokerage - Philip Capital
Trading: NQ,ES,6E,CL
Posts: 556 since Jul 2018
Thanks Given: 908
Thanks Received: 1,672


Biggest drawback to larger time frames.... It's easier to turn a speed boat than a cargo ship. LOL! There were set ups just no follow through to take out the pending order. FOMO wants to kick in and just say screw it, go short. But I can resist.




Looking for it to pick up for a little while today then get real quiet before interest rates.

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  #364 (permalink)
 
TradingOgre's Avatar
 TradingOgre 
Evans GA/USA
Legendary Market Wizard
 
Experience: Intermediate
Platform: NinjaTrader
Broker: NinjaTrader Brokerage - Philip Capital
Trading: NQ,ES,6E,CL
Posts: 556 since Jul 2018
Thanks Given: 908
Thanks Received: 1,672

Watched a guy live on youtube drop 10k on NQ on Friday. He's not doing much better today. I don't understand some peoples trading style but man this dude needs to drop back to demo and figure it out. He was up 600 bucks a little while ago but has let it drift back negative, then he added 4 more contracts short now he is down 1300 bucks. No stop just a profit target. It's like watching a train wreck. I hope it turns around for him but looks like today is a day to be long not short.

Great volume so far since market open. Could be a great day of trading.

Hope everyone has a tremendous week.

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  #365 (permalink)
 
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 trendisyourfriend 
Quebec Canada
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TradingOgre View Post
...

My goal is to prove to myself and anyone else trying one of these evaluations or combines as TopStep calls it that just because you can use big leverage doesn't mean you should. And, that even with these tight restrictions on myself, reaching the 9k in profit will still be done within the 10 days of trading needed. Or really close to it.

Every day when they update the reports I will capture a screen shot and post it here. I think I can export my trade history as well so you can see that I am complying with the rules I have set for myself...

Hi TradingOgre,

Have not seen anything yet. Have you changed your mind about it? Thanks

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  #366 (permalink)
 
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 MiniP 
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TradingOgre View Post
Watched a guy live on youtube drop 10k on NQ on Friday. He's not doing much better today. I don't understand some peoples trading style but man this dude needs to drop back to demo and figure it out. He was up 600 bucks a little while ago but has let it drift back negative, then he added 4 more contracts short now he is down 1300 bucks. No stop just a profit target. It's like watching a train wreck. I hope it turns around for him but looks like today is a day to be long not short.

Great volume so far since market open. Could be a great day of trading.

Hope everyone has a tremendous week.

might be able to get some back if we close this gap other then that hes SOL.. closed at a 2 week high, wouldn't be surprised if we ran up the yearly high this week. Only 30ish pts away


-P

"Truth is not what you want it to be; it is what it is, and you must bend to its power or live a lie"-Miyamoto Musashi
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  #367 (permalink)
 
TradingOgre's Avatar
 TradingOgre 
Evans GA/USA
Legendary Market Wizard
 
Experience: Intermediate
Platform: NinjaTrader
Broker: NinjaTrader Brokerage - Philip Capital
Trading: NQ,ES,6E,CL
Posts: 556 since Jul 2018
Thanks Given: 908
Thanks Received: 1,672


trendisyourfriend View Post
Hi TradingOgre,

Have not seen anything yet. Have you changed your mind about it? Thanks

Haven't really thought about it much. Getting lazy when it comes to this journal. I find myself focusing 100% on trading and not thinking about posting here much.

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  #368 (permalink)
 
TradingOgre's Avatar
 TradingOgre 
Evans GA/USA
Legendary Market Wizard
 
Experience: Intermediate
Platform: NinjaTrader
Broker: NinjaTrader Brokerage - Philip Capital
Trading: NQ,ES,6E,CL
Posts: 556 since Jul 2018
Thanks Given: 908
Thanks Received: 1,672


MiniP View Post
might be able to get some back if we close this gap other then that hes SOL.. closed at a 2 week high, wouldn't be surprised if we ran up the yearly high this week. Only 30ish pts away


-P

Poor guy ended up dropping another 4k+ today. Had to stop watching it, I was having heart palpitations watching his money float away like that. I tried to figure out how he makes his trades but it just doesn't make any sense to me. It looks like he was blindly buying at support and selling at resistance. Works great in a choppy market. Sucks in a trending one.

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  #369 (permalink)
 
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 trendisyourfriend 
Quebec Canada
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TradingOgre View Post
Haven't really thought about it much. Getting lazy when it comes to this journal. I find myself focusing 100% on trading and not thinking about posting here much.

What made you lost your interest in this journal? You seemed very motivated at the beginning and i must admit i took some pleasure reading your journey.

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  #370 (permalink)
 
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 Rrrracer 
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TradingOgre View Post
Poor guy ended up dropping another 4k+ today. Had to stop watching it, I was having heart palpitations watching his money float away like that. I tried to figure out how he makes his trades but it just doesn't make any sense to me. It looks like he was blindly buying at support and selling at resistance. Works great in a choppy market. Sucks in a trending one.


LOL post the link... am I a sociopath for wanting to see someone suck at trading more than I do right now?

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