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My Gauntlet journal
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Created: by RDK91 Attachments:0

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My Gauntlet journal

 
Trading for Profit
Antwerp
 
Trading Experience: Advanced
Platform: Rithmic Pro
Favorite Futures: NQ, ES
 
Posts: 332 since Jun 2016
Thanks: 78 given, 609 received

My Gauntlet journal

I am going to start my Gauntlet on Monday 15th of October.

In the past i have tried out TST and OneUp trade.
The reason i failed at TST was because my system just wasn't ready and then i tried OneUp however the daily draw down based on balance instead of equity didn't work with my strategy.
In my opinion Earn2Trade offers a much more realistic opportunity to get funded by a real prop firm.

Now about my trading system.
I have developed a 100% mechanical trading system, which means that all my entry's and exits are based on a set of rules. There is nothing discretionary about my system.
It took me quite some time to develop this system to get it where it is today but i will never go back to discretionary trading, i couldn't handle it and started breaking rules, scaling up, exiting to soon, ...

My trades will be based on 1 minute, 5 minute, 15 minute, 1 hour and 4 hour charts, however most of the trades will happen on the 1 minute and 5 minute charts.
All trades will be made per 2 contracts, the stop will be at a fixed position and at a 1:1 risk/reward i will place my first target. If at this point the trade goes against me and hits my stop my trade will end up break even.
The other target is more like a trailing stop based on a few different rules.

The rules i will give myself is a maximum daily loss of 2000$ and a maximum total loss of 10.000$.
This is worst case scenario and under normal conditions i will never reach those numbers.
I have a minimum return target in mind however it might be better not to share it since i don't really care about it, as long as i do not break my rules and reach the target.

The main reason why i am making this journal is because it is an easy way for me to keep track of my daily returns and draw downs.

Initially i wasn't planning on sharing my strategy or sharing charts.
However, some of you might have noticed that i have entered a competition here on futures.io.
The competition is based on likes/thanks given on a post i made in another thread.

Let's do it like this; the more likes i get the more i will share
I am currently standing at 18!
Here is the link to my original post, give my post there a like so i can win the price!

https://futures.io/traders-hideout/21330-battlestations-show-us-your-trading-desks-79.html#post693242

Thanks in advance!

If there are any questions, shoot.
If not the next update will be on Monday!


Last edited by RDK91; October 11th, 2018 at 02:00 PM.
The following 14 users say Thank You to RDK91 for this post:
 
 
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Trading for Profit
Antwerp
 
Trading Experience: Advanced
Platform: Rithmic Pro
Favorite Futures: NQ, ES
 
Posts: 332 since Jun 2016
Thanks: 78 given, 609 received


So today is the first day of my Gauntlet.
The account was setup and ready to trade just after the US session open today so i have missed some trades, specially that nice short move on the NQ.

So far 1 trade, a buy on NQ, this was a trade based from the 1 minute chart.
Entry at 7072.5, first target at 7084.5 and the trailing stop was triggered at 7094.25.
So this gives me a total profit of 666,12$.

I have 1 hour remaining to trade today so let's see if there will be another trade!

The following 2 users say Thank You to RDK91 for this post:
 
 
Trading for Profit
Antwerp
 
Trading Experience: Advanced
Platform: Rithmic Pro
Favorite Futures: NQ, ES
 
Posts: 332 since Jun 2016
Thanks: 78 given, 609 received

So no more trades today, 666,12$ it is.

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I have some meetings tomorrow and Wednesday so not sure yet if i will be able to trade a lot.

The following user says Thank You to RDK91 for this post:
 
 
Trading for Profit
Antwerp
 
Trading Experience: Advanced
Platform: Rithmic Pro
Favorite Futures: NQ, ES
 
Posts: 332 since Jun 2016
Thanks: 78 given, 609 received

Looks like i might be done for today.

Missed a few small target trades earlier this morning because of some meetings.
Took 2 trades later on:

1 short on GC from the 1 minute chart.
Entry at 1234.50, first target at 1233.00 and the trailing stop was triggered at 1233.1

1 short on NQ, also from the 1 minute chart
Entry at 7192.00, decided to exit both contracts at the first target which was 7185.50.
I did not expect to much down movement, however if i would have used the trailing stop as exit for the second contract, it would have been closed at 7168.5 so i have missed 17 points or 340$ there.

Anyway, the total profit for the day is 532,24$.

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Last edited by RDK91; October 16th, 2018 at 11:36 AM.
The following 3 users say Thank You to RDK91 for this post:
 
 
Trading for Profit
Antwerp
 
Trading Experience: Advanced
Platform: Rithmic Pro
Favorite Futures: NQ, ES
 
Posts: 332 since Jun 2016
Thanks: 78 given, 609 received

I have made some mistakes today and so i am going to quit early to avoid any more mistakes/losses.

The mistakes i have made are: trading NQ way to early (during EU session, normally i do not start trading NQ until at least 2 hours before the US open) which resulted in 2 small losses, ignored a signal on the NQ because it was on the 1 minute chart and it was during the first minutes of the US open (i ignored it because US open can be extremely volatile, however the trade would have given me 900$ profit), i am lacking concentration today and i have also missed a trade on GC which would have resulted in 340$ profit.

I managed to end up break even today and i think it might be better to take the rest of the day off to avoid more mistakes or bad trades because of these frustrations.

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The following 5 users say Thank You to RDK91 for this post:
 
 
Trading for Profit
Antwerp
 
Trading Experience: Advanced
Platform: Rithmic Pro
Favorite Futures: NQ, ES
 
Posts: 332 since Jun 2016
Thanks: 78 given, 609 received

Oh boy, what a day.
I guess this is the downside of having a reversal system in such volatile conditions.

Missed 2 trades on GC which would have generated 810$, i really need to get my concentration on point ...
Then the NQ ... 3 trades on NQ, all losers.

Down 1581,64$ and going to quit for today.
Still well within my loss limit and rules i have set for my Gauntlet.
No reason to panic, 1 good trade can fix it all.

Back at it tomorrow!

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The following 5 users say Thank You to RDK91 for this post:
 
 
Trading for Profit
Antwerp
 
Trading Experience: Advanced
Platform: Rithmic Pro
Favorite Futures: NQ, ES
 
Posts: 332 since Jun 2016
Thanks: 78 given, 609 received

I am going to review my NQ positions and also review the data from my earlier NQ trades before i started the Gauntlet.

Maybe i am going to drop the NQ trading and only trade GC and CL from here on, this would most likely mean a lower daily profit potential but it also would mean more consistency and less volatile trading.

My system generates the most signals on NQ but when it is this volatile and i have to place my stops this far it can take my profits away in minutes.

I think i prefer less profit but more consistency over these huge swings in PnL.

The following 7 users say Thank You to RDK91 for this post:
 
 
Trading for Profit
Antwerp
 
Trading Experience: Advanced
Platform: Rithmic Pro
Favorite Futures: NQ, ES
 
Posts: 332 since Jun 2016
Thanks: 78 given, 609 received

Back above my initial starting balance after today.

Again however, missed 1 trade earlier today on CL which would have given me another 460$, this time i was to late to place the order and price never came back to where i wanted to enter.

2 trades executed today:

1 short on CL from the 1 minute chart.
Entry at 69.47, first target at 69.32 and the trailing stop got triggered at 69.38.

1 short on GC fromt the 15 minute chart.
Entry at 1231.3, targets where not hit yet but we where close, since i have to leave soon to get some beers with some friends i decided to take profit early.

So this gives me a total of 592,24$ for today, kind of a slow day but still happy with the results.

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The following 6 users say Thank You to RDK91 for this post:
 
 
Elite Member
Toronto ON Canada
 
Trading Experience: Intermediate
Platform: MT4, Rithmic , Ninja
Favorite Futures: ES, NQ
 
Posts: 7 since Nov 2016
Thanks: 202 given, 6 received


Great thread...thanks sharing.
Are you paying any data fees using Rithmic for your gauntlet?
What do they set the commissions as?

The following user says Thank You to 1481 for this post:

 



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