My Trading Quest - Profitability in 90 days!
Hi Everyone,
I am new to this forum and would like to journal my journey for a new trading quest I have been thinking about for a long time.
I have been trading on and off for over 20 years and I have many scars to prove it. Recently, I became a funded trader with Topstep Trader using my own scalping system on US 30 Year Bonds. In the past I have traded Futures and Forex manually and with my own coded systems.
I have completed many trading courses and seminars. Most of the time I could not replicate their results! They often promise the world but most do not deliver.
Like most of us, I have been burned by these trading companies.
It is time to test these trading companies and see who can deliver.
My journal will track my progression:
My goal is to see if I can become profitable in 90 days.
If I fail, then I will start again with another 90-day challenge ... until I find a profitable course.
I would love it if people have questions or can suggest things along the way.
If anyone would like to suggest a trading course to add to my list, I would appreciate it.
I am NOT associated with any Trading Company.
I am excited to share my journey and my results with you.
Come along with me on My Trading Quest!
Cheers
Garry
I am new to this forum and would like to journal my journey for a new trading quest I have been thinking about for a long time.
I have been trading on and off for over 20 years and I have many scars to prove it. Recently, I became a funded trader with Topstep Trader using my own scalping system on US 30 Year Bonds. In the past I have traded Futures and Forex manually and with my own coded systems.
I have completed many trading courses and seminars. Most of the time I could not replicate their results! They often promise the world but most do not deliver.
Like most of us, I have been burned by these trading companies.
It is time to test these trading companies and see who can deliver.
My journal will track my progression:
- I will explain why I chose the courses on the short list and why I chose the first one to test.
- Right through to setup, back-testing, live trading and hopefully to profitability
- I will explain what works and what doesn't
- I will not be sharing anything that is proprietary to the company
My goal is to see if I can become profitable in 90 days.
If I fail, then I will start again with another 90-day challenge ... until I find a profitable course.
I would love it if people have questions or can suggest things along the way.
If anyone would like to suggest a trading course to add to my list, I would appreciate it.
I am NOT associated with any Trading Company.
I am excited to share my journey and my results with you.
Come along with me on My Trading Quest!
Cheers
Garry
Rising Trailing Max Drawdown Explained
With the Leeloo evaluation, it is critical to understand the "Rising Trailing Max Drawdown"
The (Rising) Trailing Max Drawdown is quantified and termed the Limited Trailing Minimum Account Balance (LTMAB). The max drawdown amount assigned to your particular Evaluation account (example- $2500 for 8 contract account), trails your OPEN equity, intra-trade. (NOT closed profit). It will NEVER stop trailing the highest UNREALIZED profit point of your account throughout the ENTIRE Evaluation.
An Example using the 8 contracts- $2,500 LTMAB):
When you start you can only lose $2500. Assume account balance of $50,000
At this time the account will be closed if the account balance is 50,000 - 2,500 = $47,500
If the first trade goes into profit during the trade eg +$100 is the highest amount in profit, even if the trade ends less or even with a loss. Let us assume you made a $50 profit.
At this point your account balance = 50,000 + 50 = 50,050 and your LTMAB = 50,000 + 100 = 50,100 minus your 2500 = $47,600.
It is always based on the intra-trade high.
Once you pass the evaluation and become funded they stop trailing the DD at just over your initial funded account amount.
You can check this amount at any time on the Rithmic dashboard.
Any questions please let me know.
Cheers
Garry
With the Leeloo evaluation, it is critical to understand the "Rising Trailing Max Drawdown"
The (Rising) Trailing Max Drawdown is quantified and termed the Limited Trailing Minimum Account Balance (LTMAB). The max drawdown amount assigned to your particular Evaluation account (example- $2500 for 8 contract account), trails your OPEN equity, intra-trade. (NOT closed profit). It will NEVER stop trailing the highest UNREALIZED profit point of your account throughout the ENTIRE Evaluation.
An Example using the 8 contracts- $2,500 LTMAB):
When you start you can only lose $2500. Assume account balance of $50,000
At this time the account will be closed if the account balance is 50,000 - 2,500 = $47,500
If the first trade goes into profit during the trade eg +$100 is the highest amount in profit, even if the trade ends less or even with a loss. Let us assume you made a $50 profit.
At this point your account balance = 50,000 + 50 = 50,050 and your LTMAB = 50,000 + 100 = 50,100 minus your 2500 = $47,600.
It is always based on the intra-trade high.
Once you pass the evaluation and become funded they stop trailing the DD at just over your initial funded account amount.
You can check this amount at any time on the Rithmic dashboard.
Any questions please let me know.
Cheers
Garry
DAY 40 – Apex Sniper Trading Bootcamp – 1st Day of Funding evaluation …
Today is the first day of the Leeloo Funding Evaluation …
Actions I took:
Day 1 of Funding Evaluation
I set up the connections required for Leeloo. It was easy and I was all setup in under 20 minutes.
The setup uses Ninjatrader with Rithmic Trader Pro.
The starting balance was $50,000 with the DD limit of $47,500.
I placed 6 trades:
3 NQ trades – 3 winners (+$135.00)
3 ES trades – 2 winners and 1 loss (+135.00)
Total Profit $270.00.
Trade 1 – NQ Long Divergence Trade (Profit +$45.00)
The trade was valid.
Trade 2 – Valid NQ Short DTX and Enhanced Trade (Profit +$45.00)
Trade 3 – NQ Long DTX Trade (Profit +$45.00)
I did not trade ES as well as I did NQ!
Trade 1 – Valid ES Short Enhanced + Trend Trade (Loss -$5.00)
The trade was a valid trade but I managed it poorly. This was my first trade and I set the profit on the Dom at 10 ticks when it should have been 8.
The trade hit my proper target and then retraced back to the entry and kept bouncing around the entry price. It was like pulling teeth!!! Slooooow. So I moved the stop to BE and was stopped out. As you can see the trade then went to profit +.
ES Trades 2 and 3
Trade 2 Valid Enhanced LongTrade Profit + $45.00
Again the slow price action affected my judgement and I moved the profit target closer.
Trade 3 Valid Trend ShortTrade Profit + $95.00
The following is the trades from the NT7 Summary Panel
Potential trades for Friday – ES and NQ
Rithmic Overview
I will report back tomorrow on my progress and any lessons I learn
Disclaimer
I am not affiliated with any of these companies.
Today is the first day of the Leeloo Funding Evaluation …
Actions I took:
- Listened to the trading room for the first 30 mins of the US Open
- Signed up with Leeloo for the evaluation and set it all up
Day 1 of Funding Evaluation
I set up the connections required for Leeloo. It was easy and I was all setup in under 20 minutes.
The setup uses Ninjatrader with Rithmic Trader Pro.
The starting balance was $50,000 with the DD limit of $47,500.
I placed 6 trades:
3 NQ trades – 3 winners (+$135.00)
3 ES trades – 2 winners and 1 loss (+135.00)
Total Profit $270.00.
Trade 1 – NQ Long Divergence Trade (Profit +$45.00)
The trade was valid.
Trade 2 – Valid NQ Short DTX and Enhanced Trade (Profit +$45.00)
Trade 3 – NQ Long DTX Trade (Profit +$45.00)
I did not trade ES as well as I did NQ!
Trade 1 – Valid ES Short Enhanced + Trend Trade (Loss -$5.00)
The trade was a valid trade but I managed it poorly. This was my first trade and I set the profit on the Dom at 10 ticks when it should have been 8.
The trade hit my proper target and then retraced back to the entry and kept bouncing around the entry price. It was like pulling teeth!!! Slooooow. So I moved the stop to BE and was stopped out. As you can see the trade then went to profit +.
ES Trades 2 and 3
Trade 2 Valid Enhanced LongTrade Profit + $45.00
Again the slow price action affected my judgement and I moved the profit target closer.
Trade 3 Valid Trend ShortTrade Profit + $95.00
The following is the trades from the NT7 Summary Panel
Potential trades for Friday – ES and NQ
Rithmic Overview
I will report back tomorrow on my progress and any lessons I learn
Disclaimer
I am not affiliated with any of these companies.
DAY 40 – Apex Sniper Trading Bootcamp – Day 2 of Funding evaluation …
Today is the second day of the Leeloo Funding Evaluation …
Actions I took:
Day 2 of Funding Evaluation
Both markets were fast and NQ appeared to have low liquidity. Traders were having slippage with entering and exiting on NQ.
I decided not to trade NQ and placed 2 trades with ES before the market did some big swings. I watched for a while and decided I had made a profit so why risk it in this type of market. My goal is to pass the funding evaluation and not blow up the account. After reviewing the market after the close, I was happy I stopped trading for the day.
I placed 2 ES trades:
2 ES trades – 2 winners (+190.00)
Total Profit for the Day $190.00
Total Running Profit for the Evaluation = $468.48 (2 days)
Trade 1 – Valid ES Short DTX and Enhanced Trade (Profit +$95.00)
Trade 2 – Valid ES Short Trend Trade (Profit +$95.00)
The following is the trades from the NT7 Summary Panel
Potential trades – ES and NQ
Rithmic Overview
I will report back tomorrow on my progress and any lessons I learn
Disclaimer
I am not affiliated with any of these companies.
Today is the second day of the Leeloo Funding Evaluation …
Actions I took:
- Listened to the trading room for the first 60 mins of the US Open
- Watched Darrell run through a day of trading in the first webinar for the week
- Traded Day 2
Day 2 of Funding Evaluation
Both markets were fast and NQ appeared to have low liquidity. Traders were having slippage with entering and exiting on NQ.
I decided not to trade NQ and placed 2 trades with ES before the market did some big swings. I watched for a while and decided I had made a profit so why risk it in this type of market. My goal is to pass the funding evaluation and not blow up the account. After reviewing the market after the close, I was happy I stopped trading for the day.
I placed 2 ES trades:
2 ES trades – 2 winners (+190.00)
Total Profit for the Day $190.00
Total Running Profit for the Evaluation = $468.48 (2 days)
Trade 1 – Valid ES Short DTX and Enhanced Trade (Profit +$95.00)
Trade 2 – Valid ES Short Trend Trade (Profit +$95.00)
The following is the trades from the NT7 Summary Panel
Potential trades – ES and NQ
Rithmic Overview
I will report back tomorrow on my progress and any lessons I learn
Disclaimer
I am not affiliated with any of these companies.
DAY 42 – Apex Sniper Trading Bootcamp – Day 3 of Funding evaluation …
Today is the third day of the Leeloo Funding Evaluation and a crazy market…
Actions I took:
Day 3 of Funding Evaluation
NQ again had reduced liquidity. Traders were having slippage with entering and exiting on NQ.
ES was fast at times and very slow at other times.
I was trading ES and watching NQ. When the markets are working so differently I find that it can affect my decision making. On days like this, it would be best if I just focus on one market.
The list of potential trades is short. A few possible trades were left off the list as the market was moving too quickly. The list only includes trades I would expect to be able to enter.
I placed 2 ES trades and 1 NQ Trade:
2 ES trades – 2 winners (+190.00)
1 NQ trade – 1 loser (-110.00)
Total Profit for the Day $80.00
Total Running Profit for the Evaluation = $551.66 (3 days)
Trade 1 – Valid ES Long Trend Trade (Profit +$95.00)
Trade 2 – Valid ES Long Enhanced and Trend Trade (Profit +$95.00)
Trade 3 – Valid NQ Long Divergence Trade (Loss –$105.00)
The target was hit but not filled and it quickly hit my stop.
The following is the trades from the NT7 Summary Panel
Potential trades – ES and NQ
Rithmic Overview
I will report back tomorrow on my progress and any lessons I learn
Disclaimer
I am not affiliated with any of these companies.
Today is the third day of the Leeloo Funding Evaluation and a crazy market…
Actions I took:
- Listened to the trading room for the first 120 mins of the US Open
- Traded Day 3
Day 3 of Funding Evaluation
NQ again had reduced liquidity. Traders were having slippage with entering and exiting on NQ.
ES was fast at times and very slow at other times.
I was trading ES and watching NQ. When the markets are working so differently I find that it can affect my decision making. On days like this, it would be best if I just focus on one market.
The list of potential trades is short. A few possible trades were left off the list as the market was moving too quickly. The list only includes trades I would expect to be able to enter.
I placed 2 ES trades and 1 NQ Trade:
2 ES trades – 2 winners (+190.00)
1 NQ trade – 1 loser (-110.00)
Total Profit for the Day $80.00
Total Running Profit for the Evaluation = $551.66 (3 days)
Trade 1 – Valid ES Long Trend Trade (Profit +$95.00)
Trade 2 – Valid ES Long Enhanced and Trend Trade (Profit +$95.00)
Trade 3 – Valid NQ Long Divergence Trade (Loss –$105.00)
The target was hit but not filled and it quickly hit my stop.
The following is the trades from the NT7 Summary Panel
Potential trades – ES and NQ
Rithmic Overview
I will report back tomorrow on my progress and any lessons I learn
Disclaimer
I am not affiliated with any of these companies.
DAY 43 – 45 – Apex Sniper Trading Bootcamp – Day 4 of Funding evaluation …
Day 43, Today is the fourth day of the Leeloo Funding Evaluation …
Actions I took:
Day 4 of Funding Evaluation –Knowing when to quit and when to push
Day 4 was Friday and I did everything wrong. So let’s start from the beginning and see what lessons I can learn …
I am embarrassed to tell this story … but it helps me to go through it so I won’t do it again.
Every now and again I suffer from those lovely migraines where you lose your vision and then you have a really a bad headache for a number of days or more!! So Friday was my second in a week.
My vision came back in time for me to trade. So I assumed I could work through the headache to trade.
When I started to trade I was feeling fatigued but knew I would be fine.
I had forgotten to listen to Kenny Rogers song “know when to hold them and know when to fold them”
Lesson 1: Do not trade when fatigued, sick, or not at your best.
NQ again had reduced liquidity. Traders were having slippage with entering and exiting on NQ.
Both markets ranged in speed but could have been traded successfully.
I was trading ES and watching NQ.
Chop Trades
One of the lessons I have learned with this system and with ES (Not NQ), was when a certain type of chop forms on the chart then I do not trade in, out or back into that chop. Apex has a saying you need to take probability trades NOT possibility trades. Entering these trades can be profitable but they are a possibility NOT a probability trade. I often had problems seeing the chop when I was doing market replay and had improved to not trade those trades. I even created an indicator so I could see that chop easier.
In the image of the first three trades, you will see blue boxes(2) around the chop zones I have mentioned. Also, in the third section from the bottom, you will see red blocks (3) which is my chop indicator.
Lesson 2: If you have problems identifying chop then make sure you have all your facilities working when you are trading
Trade 1 – NOT VALID ES Long DTX Trade (Loss -$217.50)
I did not notice the chop to the left of the entry. Rule: do not trade into the chop
Trade 2 – NOT VALID ES Long Enhanced Trade (Profit +$95.00)
I did not notice the chop to the left of the entry. Rule: do not trade into the chop
Trade 3 – NOT VALID ES Long DTX and Enhanced Trade (Loss -$217.50)
I did not notice the chop to the left of the entry. Rule: do not trade into the chop
Lack of focus and being fatigued!!
After the mess of the first three trades, I realized my mistakes. But not the root cause!!
So I kept trading …
Trade 4 – Valid ES Long Enhanced and Divergence Trade (Profit +$95.00)
Trade 5 – Valid ES Long Divergence Trade (Profit-$57.50)
The trade was a long where the 18K and arrow is.
I entered 1 tick above the bar … but somehow entered short!?! When I noticed I exited … for a profit.
There is a saying about: if life hits you with a stick and you don’t listen, then it will hit you with a 4 x 2, and then if you don’t listen it will hit you with a truck (or something like that).
g
At this point, I am down -$172.50 and fatigued, knowing I can make 1 more profitable trade!! So I wait about 80 minutes for the next trade!
Trade 6 – NOT VALID ES Long DTX Trade (Loss -$217.50)
You can see from the image, I repeated the mistake again.
Rule: do not trade into the chop or when you are not 100% well!
Total for the Day:
6 Trades, 3 wins, 3 loss with a Loss of -$411.14
The next 2 days I relaxed so I am ready for a better week.
The following is the trades from the NT7 Summary Panel
Potential trades – ES and NQ
Rithmic Overview
I will report back tomorrow on my progress and any lessons I learn
Disclaimer
I am not affiliated with any of these companies.
Day 43, Today is the fourth day of the Leeloo Funding Evaluation …
Actions I took:
- Listened to the trading room for the first 120 mins of the US Open
- Traded very badly on Day 4
- Rested on Day 44 and 45
Day 4 of Funding Evaluation –Knowing when to quit and when to push
Day 4 was Friday and I did everything wrong. So let’s start from the beginning and see what lessons I can learn …
I am embarrassed to tell this story … but it helps me to go through it so I won’t do it again.
Every now and again I suffer from those lovely migraines where you lose your vision and then you have a really a bad headache for a number of days or more!! So Friday was my second in a week.
My vision came back in time for me to trade. So I assumed I could work through the headache to trade.
When I started to trade I was feeling fatigued but knew I would be fine.
I had forgotten to listen to Kenny Rogers song “know when to hold them and know when to fold them”
Lesson 1: Do not trade when fatigued, sick, or not at your best.
NQ again had reduced liquidity. Traders were having slippage with entering and exiting on NQ.
Both markets ranged in speed but could have been traded successfully.
I was trading ES and watching NQ.
Chop Trades
One of the lessons I have learned with this system and with ES (Not NQ), was when a certain type of chop forms on the chart then I do not trade in, out or back into that chop. Apex has a saying you need to take probability trades NOT possibility trades. Entering these trades can be profitable but they are a possibility NOT a probability trade. I often had problems seeing the chop when I was doing market replay and had improved to not trade those trades. I even created an indicator so I could see that chop easier.
In the image of the first three trades, you will see blue boxes(2) around the chop zones I have mentioned. Also, in the third section from the bottom, you will see red blocks (3) which is my chop indicator.
Lesson 2: If you have problems identifying chop then make sure you have all your facilities working when you are trading
Trade 1 – NOT VALID ES Long DTX Trade (Loss -$217.50)
I did not notice the chop to the left of the entry. Rule: do not trade into the chop
Trade 2 – NOT VALID ES Long Enhanced Trade (Profit +$95.00)
I did not notice the chop to the left of the entry. Rule: do not trade into the chop
Trade 3 – NOT VALID ES Long DTX and Enhanced Trade (Loss -$217.50)
I did not notice the chop to the left of the entry. Rule: do not trade into the chop
Lack of focus and being fatigued!!
After the mess of the first three trades, I realized my mistakes. But not the root cause!!
So I kept trading …
Trade 4 – Valid ES Long Enhanced and Divergence Trade (Profit +$95.00)
Trade 5 – Valid ES Long Divergence Trade (Profit-$57.50)
The trade was a long where the 18K and arrow is.
I entered 1 tick above the bar … but somehow entered short!?! When I noticed I exited … for a profit.
There is a saying about: if life hits you with a stick and you don’t listen, then it will hit you with a 4 x 2, and then if you don’t listen it will hit you with a truck (or something like that).
gAt this point, I am down -$172.50 and fatigued, knowing I can make 1 more profitable trade!! So I wait about 80 minutes for the next trade!
Trade 6 – NOT VALID ES Long DTX Trade (Loss -$217.50)
You can see from the image, I repeated the mistake again.
Rule: do not trade into the chop or when you are not 100% well!
Total for the Day:
6 Trades, 3 wins, 3 loss with a Loss of -$411.14
The next 2 days I relaxed so I am ready for a better week.
The following is the trades from the NT7 Summary Panel
Potential trades – ES and NQ
Rithmic Overview
I will report back tomorrow on my progress and any lessons I learn
Disclaimer
I am not affiliated with any of these companies.
I am having the rest of the week off to help me recover from the migraines,
Apex Sniper Trading Bootcamp – “I’m Back!” …
After a period of cluster migraines and headaches, I am back to continue my challenge …
Health Update:
After consistent and endless migraines where I lose my vision and then when it returns I am left with a bad headache, I am happy to say it has been over 9 days since my last migraine and 4 days since my last headache. All medical tests have given me a green light.
I have not been able to trade due to my associated vision issues!!
So where to now:
I was 45 days through my challenge and have approximately 45 days off from trading. 90 Days!!!
As I have not been trading, my thoughts are that I will spend the next week reviewing, catching up on Apex Trading videos and sim trading. After which I will have 30 days to complete my challenge to be profitable and then review where to go from there.
At this time I will only trade ES. This will allow me to ease back into trading and screen time.
Actions I took today:
Potential ES Trades
It was a strange day in the ES market and I didn’t see any valid trades I would take from 5:30am until 14:25.
The profitable trade I took in sim was at 5:32am.
Maybe that was my time away from the market!
I did see 6 valid trades for the period from open Sunday until close Monday.
To help me get my form back I will start recording on my spreadsheet all potential trades even if I do not consider them valid so I can record why I chose not to enter them. I just need to sort out how best I will record it.
Resources
I have decided to add a section on resources that I have found to be useful.
The first is the new series of 3 minute coaching videos by Brett Steenbarger.
https://www.youtube.com/watch?list=PL4Xc9uwUmmqShzbxH8epZGVIUHmuKX7Ha&v=1T1NEqr0vP4
Potential trades – ES
I will report back tomorrow on my progress and any lessons I learn
Disclaimer
I am not affiliated with any of these companies.
Cheers
Garry
After a period of cluster migraines and headaches, I am back to continue my challenge …
Health Update:
After consistent and endless migraines where I lose my vision and then when it returns I am left with a bad headache, I am happy to say it has been over 9 days since my last migraine and 4 days since my last headache. All medical tests have given me a green light.
I have not been able to trade due to my associated vision issues!!
So where to now:
I was 45 days through my challenge and have approximately 45 days off from trading. 90 Days!!!
As I have not been trading, my thoughts are that I will spend the next week reviewing, catching up on Apex Trading videos and sim trading. After which I will have 30 days to complete my challenge to be profitable and then review where to go from there.
At this time I will only trade ES. This will allow me to ease back into trading and screen time.
Actions I took today:
- Listened to the trading room but found it annoyed my head (too early .. I think!)
- Traded 1 trade in Sim … profitable
- Reviewed the market from open on Sun until close on Monday to identify trades I thought were valid trades on ES
Potential ES Trades
It was a strange day in the ES market and I didn’t see any valid trades I would take from 5:30am until 14:25.
The profitable trade I took in sim was at 5:32am.
Maybe that was my time away from the market!
I did see 6 valid trades for the period from open Sunday until close Monday.
To help me get my form back I will start recording on my spreadsheet all potential trades even if I do not consider them valid so I can record why I chose not to enter them. I just need to sort out how best I will record it.
Resources
I have decided to add a section on resources that I have found to be useful.
The first is the new series of 3 minute coaching videos by Brett Steenbarger.
https://www.youtube.com/watch?list=PL4Xc9uwUmmqShzbxH8epZGVIUHmuKX7Ha&v=1T1NEqr0vP4
Potential trades – ES
I will report back tomorrow on my progress and any lessons I learn
Disclaimer
I am not affiliated with any of these companies.
Cheers
Garry
Apex Sniper Trading Bootcamp – Challenge Countdown – 36 Days …
It is surprising how quickly you lose your edge after having time away from the market!
Actions I took today:
Potential ES Trades
ES performed well, providing many setups for entry.
The profitable trade I took in sim was at 7:20 am.
The trade was a Long entry ETX and DTX setup.
Just to recap what the setup was:
The ETX Setup can be seen at the bottom of the entry bar (reversal) with the Green box and the blue solid square in it. The ETX also requires 2 other setups. One is the orange inside the box has an orange line extending right (Paw) and the second is the white line below the paw which is already existing, before the setup bar and continues right.
The DTX Setup is simply a double TX (Green box and the blue solid square in it) which occurs at a similar price level within 30 bars.
The green line in the bottom window shows that a DTX is forming/has formed.
If you do the sums you will see my profit was $ 100 – commission. (1 contract)
I did not record several DTX trades as they occurred in the coil chop. As I wasn’t sure of the rules around the coil chop and DTX I left them out of the stats. I did notice that most of them were profitable.
I will review the videos and notes to clarify this for tomorrow.
Slippage Question
Some people ask about slippage in the live market … I find as long as the liquidity is good on the bar then it is rare for me to have slippage on ES. This is more important on NQ as it often has low liquidity on the bar and slippage in and/or out can be a problem
Potential trades – ES
I will report back tomorrow on my progress and any lessons I learn
Disclaimer
I am not affiliated with any of these companies.
It is surprising how quickly you lose your edge after having time away from the market!
Actions I took today:
- Traded 1 trade-in Sim … profitable 🙂
- Reviewed the market from open on Monday until close on Tuesday to identify trades I thought were valid trades on ES
Potential ES Trades
ES performed well, providing many setups for entry.
The profitable trade I took in sim was at 7:20 am.
The trade was a Long entry ETX and DTX setup.
Just to recap what the setup was:
The ETX Setup can be seen at the bottom of the entry bar (reversal) with the Green box and the blue solid square in it. The ETX also requires 2 other setups. One is the orange inside the box has an orange line extending right (Paw) and the second is the white line below the paw which is already existing, before the setup bar and continues right.
The DTX Setup is simply a double TX (Green box and the blue solid square in it) which occurs at a similar price level within 30 bars.
The green line in the bottom window shows that a DTX is forming/has formed.
If you do the sums you will see my profit was $ 100 – commission. (1 contract)
I did not record several DTX trades as they occurred in the coil chop. As I wasn’t sure of the rules around the coil chop and DTX I left them out of the stats. I did notice that most of them were profitable.
I will review the videos and notes to clarify this for tomorrow.
Slippage Question
Some people ask about slippage in the live market … I find as long as the liquidity is good on the bar then it is rare for me to have slippage on ES. This is more important on NQ as it often has low liquidity on the bar and slippage in and/or out can be a problem
Potential trades – ES
I will report back tomorrow on my progress and any lessons I learn
Disclaimer
I am not affiliated with any of these companies.
Apex Sniper Trading Bootcamp – Challenge Countdown – 35 Days …
Still finding my feet …
Actions I took today:
Potential ES Trades
Plenty of News today. My rule is to not trade 5 minutes before or after news and open of markets
ES performed OK considering and provided 8 valid setups for entry.
On the spreadsheet below you will see that I identified 9 trades not 8.
The first trade was a trade I would have taken but actually was not a valid trade. I had my chart zoomed in too far and did not notice that the price action was in a range. My entry would have been in the middle of the range. My solution to prevent this is to first have my chart zoomed out more then I did or have a second zoomed out chart so I can see the bigger picture. Secondly, I need to remember to look left before I take a trade.
Sim Trade
The trade I took in sim was at 7:23 am.
The trade was a Long entry TX-T and TD setup.
Just to recap what the setup was:
The TX-T Setup can be seen at the bottom of the entry bar (reversal) with the Green box and the blue solid square in it. The “-T” means that it is with the trend. The trend can be seen below as a green histogram.
The TD Setup can be seen by the 3 colored faces below the bar previous to the setup bar.
How did I crash this trade?
The trade was very slow-moving and it moved to the 7 ticks (official target) two bars after entry before moving back to below the entry. I tried to drag the target on the chart, from 8 ticks to 7 … when I let it go, it took me out at entry!!!!!
As you can see, the price then went up over 12 points.
My mistake …
Potential trades – ES
Resources:
One of the podcasts that I enjoy listening to is called The Trading Coach Podcast by Akil Stokes.
I do not follow his trading methodology but enjoy his concepts on his coaching podcast.
They can be found on a heap of podcast sites or on Youtube.
https://anchor.fm/thetradingcoachpodcast
I will report back tomorrow on my progress and any lessons I learn
Disclaimer
I am not affiliated with any of these companies
Still finding my feet …
Actions I took today:
- Traded 1 trade-in Sim … Breakeven – commission:)
- Reviewed the market to identify trades I thought were valid trades on ES
- Reviewed my rules
Potential ES Trades
Plenty of News today. My rule is to not trade 5 minutes before or after news and open of markets
ES performed OK considering and provided 8 valid setups for entry.
On the spreadsheet below you will see that I identified 9 trades not 8.
The first trade was a trade I would have taken but actually was not a valid trade. I had my chart zoomed in too far and did not notice that the price action was in a range. My entry would have been in the middle of the range. My solution to prevent this is to first have my chart zoomed out more then I did or have a second zoomed out chart so I can see the bigger picture. Secondly, I need to remember to look left before I take a trade.
Sim Trade
The trade I took in sim was at 7:23 am.
The trade was a Long entry TX-T and TD setup.
Just to recap what the setup was:
The TX-T Setup can be seen at the bottom of the entry bar (reversal) with the Green box and the blue solid square in it. The “-T” means that it is with the trend. The trend can be seen below as a green histogram.
The TD Setup can be seen by the 3 colored faces below the bar previous to the setup bar.
How did I crash this trade?
The trade was very slow-moving and it moved to the 7 ticks (official target) two bars after entry before moving back to below the entry. I tried to drag the target on the chart, from 8 ticks to 7 … when I let it go, it took me out at entry!!!!!
As you can see, the price then went up over 12 points.
My mistake …
Potential trades – ES
Resources:
One of the podcasts that I enjoy listening to is called The Trading Coach Podcast by Akil Stokes.
I do not follow his trading methodology but enjoy his concepts on his coaching podcast.
They can be found on a heap of podcast sites or on Youtube.
https://anchor.fm/thetradingcoachpodcast
I will report back tomorrow on my progress and any lessons I learn
Disclaimer
I am not affiliated with any of these companies
Apex Sniper Trading Bootcamp – Challenge Countdown – 34 Days …
Interesting day and good learning …
Actions I took today:
Trading Room
As my head is still tender and it affects my focus, I spent most of the trading session (3 hours) listening and watching Darrell explain how to trail stops and go for larger targets. He used an additional chart which he calls a simplicity chart.
Darrell and a number of people in the room had great success using this method. Darrell trades using multiple contracts and was up $22,000 in less than 20 mins using this method. Note, Darrell often trades with between 2 and 30 contracts so don’t get lost with the $$. The lesson to me is that he has faith in the method to risk the contracts he trades and it appeared to work for others in the room. I then need to learn the method (simple) and test it to see if I can make it work for me.
I will not spend time incorporating this method in my trading until I am consistently profitable with the scalper setups and targets. It definitely looks like it has promise.
Potential ES Trades
ES provided 16 valid setups for entry. 4 were losers!!
Sim Trade
The one trade I took in sim was at 11:13 am.
The trade was a Short entry ETX-T.
Potential trades – ES
Resources:
Watch this space for more resources that I find useful.
I will include books, articles, podcasts, interviews, videos, hypnosis/meditation audios, mental exercises, and more …
I will report back tomorrow on my progress and any lessons I learn
Disclaimer
I am not affiliated with any of these companies.
Interesting day and good learning …
Actions I took today:
- Traded 1 trade in Sim … to profit
- Reviewed the market to identify trades I thought were valid trades on ES
- Listened and learned in the Trading Room about trailing stops and going for larger targets
Trading Room
As my head is still tender and it affects my focus, I spent most of the trading session (3 hours) listening and watching Darrell explain how to trail stops and go for larger targets. He used an additional chart which he calls a simplicity chart.
Darrell and a number of people in the room had great success using this method. Darrell trades using multiple contracts and was up $22,000 in less than 20 mins using this method. Note, Darrell often trades with between 2 and 30 contracts so don’t get lost with the $$. The lesson to me is that he has faith in the method to risk the contracts he trades and it appeared to work for others in the room. I then need to learn the method (simple) and test it to see if I can make it work for me.
I will not spend time incorporating this method in my trading until I am consistently profitable with the scalper setups and targets. It definitely looks like it has promise.
Potential ES Trades
ES provided 16 valid setups for entry. 4 were losers!!
Sim Trade
The one trade I took in sim was at 11:13 am.
The trade was a Short entry ETX-T.
Potential trades – ES
Resources:
Watch this space for more resources that I find useful.
I will include books, articles, podcasts, interviews, videos, hypnosis/meditation audios, mental exercises, and more …
I will report back tomorrow on my progress and any lessons I learn
Disclaimer
I am not affiliated with any of these companies.
Bro you did a great job! I'm honestly amazed at your efforts and patience. I analyzed your screenshots, it's really cool. I have been trading since the beginning of autumn ( somewhere in the middle of September ) And so far, I only fill the cones and do not trade. Of course, I can sometimes go into the plus, but I'm still new to big deals. People I met on the stock exchange showed me the macd histogram and I learned about it from them, as I learn a lot of new and useful things for myself . How did you learn to trade ? I don't understand how you can start trading yourself without any help ,I've seen a couple of such people, but I've always been amazed by them.
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