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E2T mini Gauntlet attempt


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E2T mini Gauntlet attempt

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  #11 (permalink)
Russia
 
 
Posts: 6 since Jan 2020
Thanks: 5 given, 1 received

good luck

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  #12 (permalink)
Sacramento California
 
Experience: Advanced
Platform: TradeStation
Trading: Stocks, Options
 
Posts: 16 since Jul 2013
Thanks: 6 given, 4 received

Thanks NStrade. I'll need it!

Had a s*&^%t day today
No need even to share the silly trades I've made today.
Day started with one great trade I was about to take, but couldn't execute because the feed of earn2trade was stuck for a full minute at the wrong moment. This happens a lot, but this time I really missed a great trade! This made me tilt and trade poorly.
I stopped trading pretty much after less than 1 hour. I didn't trade at the edges as I was supposed to, and was whipsawed by fight between bulls and bears. Should have kept my cool and be patient.

Well tomorrow is a new day, and I will be more focused and more patient. I must, otherwise I won't make it.
Besides that, I will start combining also 2 contract trades, in order to increase the daily earnings to have a shot to reach the profit goal faster. Go big or go home!

(pasted screenshot)


PTK

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  #13 (permalink)
Sacramento California
 
Experience: Advanced
Platform: TradeStation
Trading: Stocks, Options
 
Posts: 16 since Jul 2013
Thanks: 6 given, 4 received


Day 13.
Recovered from most of the losses had in day12. Net profit of almost 300$.
Been patient and waited to trade around the edges rather than try impose on the chart my imagination where ES is going to go next...
Was hesitant to go for 2 contracts per trade, and missed one good trade due to that. I'll use 2 contracts only in trades I have highest conviction. Otherwise I feel I'll lose and get into tilt which will lead to wipe out my account....

One good trade I took was, waiting for ES reach LVN at 2944.50.
Footprint showed that buying pressure and I hit the trigger.

(pasted screenshot)


Tightened my stop to 4 ticks all the way up. Total profit from the trade - 9 ticks (was up 13 at the most before it turned against me and I got stopped out).


(pasted screenshot)


Tomorrow won't have much time to trade. Too many work meetings in the morning. Hope to make the most of it in the short time I have!

(pasted screenshot)


PTK

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  #14 (permalink)
Sacramento California
 
Experience: Advanced
Platform: TradeStation
Trading: Stocks, Options
 
Posts: 16 since Jul 2013
Thanks: 6 given, 4 received

Another bad day, and again, it's mostly my fault. I had a good start, reaching 150$ profit for the day. Got over confident and lost it all + another 400$. Bringing me almost totally back to square one!

Learned:
- For trading must have full focus. The loss I had was on trades I wasn't focused on.
- Never trade on tilt. Trading on tilt brought me to trade without waiting for the right spot to trade. I screwed up big time and lost more than I should have for the day.

I feel that my psychology is in the way to become successful trader. Overall using combination of volume/market profile and footprint does give me theoretical edge. I just need to combine it with patience.
The fact that I don't have all day to trade, every day I have different time windows where I can trade are very disturbing, but that's what I have and I must succeed no matter those obstacles. After all, I took over 100 trades, and although my net earnings is only 140$, commissions are more than 500! I believe that this is statistically significant edge (although slight). Adding on top of that during times of distraction, lack of sleep and lack of focus/patience I lost big, if I work on that, my edge should grow.
Tomorrow is not a good day to trade. Have tons of meetings. May take the day off from trading.


(pasted screenshot)


PTK

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  #15 (permalink)
Sacramento California
 
Experience: Advanced
Platform: TradeStation
Trading: Stocks, Options
 
Posts: 16 since Jul 2013
Thanks: 6 given, 4 received

Short and (very) sweet day
Barely had time to trade. Took one trade near top of local value range. Expected bears to be stronger than the bulls. Once price reached the target with favorable footprint, shorted with 2 contracts. ES moved eventually in my direction. Used 2 targets for the 1st time. Both reached, and I've achieved the maximum daily profit allowed to "maintain consistency" within the minimum profit target of 1750.

Done for the day!

Looking forward to tomorrow.

(pasted screenshot)



PTK

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  #16 (permalink)
Sacramento California
 
Experience: Advanced
Platform: TradeStation
Trading: Stocks, Options
 
Posts: 16 since Jul 2013
Thanks: 6 given, 4 received

Well, it's been a while I've posted here. Still didn't make it
It was a good start, but I've blew up the account again and again. Takes me a while to grind up the balance, and so fast to lose it all.
Psychology takes over when I'm in loosing streak, and I'm trading by wishful thinking.
Maybe I'm simplifying but I'm not giving up on trading yet.
Just need to go back to basics. Identify the levels based on volume profile, wait patiently until price reaches these levels. Enter only if footprint is favorable and use tight stops to keep good risk/reward ratio. Simple and worked as long as I didn't lose my patience or get into tilt.
Currently in my 5th attempt to make it. Been a week into it and currently at ~-500. And I'm committed to improve, and not even close to give up quite yet. I would lose much more if it would be a real account...

PTK


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June 30, 2020


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