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Not trading related, but interesting nonetheless.
Futures trading journal - GB
- Thread starter Gringotts Bank
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Been looking over some recent and not so recent posts I've made about market manipulation and the big players (banks, instos). Also looking at others' responses. My opinion hasn't changed - it definitely occurs. Where I've changed is that I no longer believe it's an excuse. The only barriers to fortune are internal / psychological. No external barriers exist.
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I agree, there is nothing you can do about it if it does or doesn't exist that is not important. The important thing is finding edge and repeating it over and over. That is the hard part!
Or you just get hold of a few outsize winners on ES and let it ride!
Looking for a rip out of this accumulation area. Overall target is 3933 area but I will tighten stop if it gets up to 3915 to lock in some more profit
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Performance during a bearish period and rebound on FESX. System (green) versus index (blue line). 29 Nov til present. 2 contracts. 42 trades.
Max in-trade drawdown (purple) is double the net profit. Not sure about that.
Max in-trade drawdown (purple) is double the net profit. Not sure about that.
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Madeira Island (Portugal). Off Morocco.
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Demo is up 28% since beginning.
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34% in 2 months on demo mode. A bit skewed by that last winner.
The system itself has evolved since starting the thread. It's not the same as the original post in this thread. The last 150-200 trades were of the same system and I'm pretty much sticking to that.
The system itself has evolved since starting the thread. It's not the same as the original post in this thread. The last 150-200 trades were of the same system and I'm pretty much sticking to that.
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Stuff I learned from the demo.
Avoid going short unless there's some major panic selling like a covid event. Wait for long set ups.
Allow intuition to override the system when it happens. To hone intuition and gut feel, meditate before the session starts.
Some sort of order flow indicator is essential. Without being able to see inside the bars, it's impossible to tell a good set up from a bull trap.
I have no idea if I will succeed trading this live. It's a world of difference.
Avoid going short unless there's some major panic selling like a covid event. Wait for long set ups.
Allow intuition to override the system when it happens. To hone intuition and gut feel, meditate before the session starts.
Some sort of order flow indicator is essential. Without being able to see inside the bars, it's impossible to tell a good set up from a bull trap.
I have no idea if I will succeed trading this live. It's a world of difference.
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On ES? could trade MES if so?
Can you use multiple TF to look 'Inside the bars'?
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Hi Roller, CFDs equivalents of ES, CL, GC, and FDAX. The brokerage is enormous with CFDs. Still haven't set up a futs broker yet.
Yes you can. TV has some good codes for that. However, I'm often on the 1 min TF and I want to look inside those bars.
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I'm on a losing streak, which started yesterday. I can feel it. No trading till I get my mojo back. There's no point reducing the size of the bet when I know I'm going to lose. Just stop instead, and wait.
The opposite applies also. When I'm on a winning streak, I increase trade frequency and size.
I don't know of a better approach to position sizing than this.
The opposite applies also. When I'm on a winning streak, I increase trade frequency and size.
I don't know of a better approach to position sizing than this.
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How do you know you’re losing if you aren’t trading tho. Or is it market conditions
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I had one big loss followed by 3 moderate-sized losers and I just felt totally out of synch with the market. I started to feel a little bit more in tune last night and tested the water with a few small trades. It wasn't great but gradually improved and I got back into it. I actually had a really good session and clawed back about 70% of the earlier losses. Previously I would have just ploughed through and kept losing. So I think I've broken that bad habit.
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Good work
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Thanks. I've not been able to do that before, due to lack of discipline and perhaps an unwillingness to just stop. I'm much more comfortable overriding the system sitting out trades when I'm not in synch, (even if the system is making winning trades during that period). Sometimes I look at a chart and it looks like there's opportunities everywhere. Other times it looks like a very risky business. But that's in me, not the chart. Meditation seems to be the key.
It's been said before (by a pro trader on here) that the mark of a pro trader is an equity curve that rebounds quickly after a drawdown.
I don't want to do this as a 'side hustle'. It will either be a proper paying job, or not at all.
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I think I've seen here somewhere before, maybe trembling hand back in the day. Say if you can't make a decent wage you might as well be working a regular job. Which makes sense.
I feel like I am getting better at recognising when conditions suit me also. At the moment there is so much chop on the Nikkei I am hoping some US news coming up this week will clear it out. Until I see some confirmation at the extremes of this range then I think I'm better off standing aside. In saying that we may have had a nice upthrust last night and a failure today.
The tough thing is ignoring the fomo and recognising that the market is not going anywhere
I feel like I am getting better at recognising when conditions suit me also. At the moment there is so much chop on the Nikkei I am hoping some US news coming up this week will clear it out. Until I see some confirmation at the extremes of this range then I think I'm better off standing aside. In saying that we may have had a nice upthrust last night and a failure today.
The tough thing is ignoring the fomo and recognising that the market is not going anywhere
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I think it was minwa, remember him?
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I think all markets are lining up to dump hard.
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Obviously got that wrong. The pattern over several hours was something I hadn't seen before, and I thought I'd take a guess.
It was sideways movement with consistent selling, interspersed with 20 or so strong buying candles (more than usual - 6 is a lot). But no medium strength buying. Sort of like sell, sell, sell, sell, sell, sell, BUY, sell, sell, sell, sell, BUY.
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