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Plan the Trade

  • #8,721
  • Nov 6, 2018 6:58am Nov 6, 2018 6:58am
2550 short off 123 got 19
  • #8,722
  • Nov 6, 2018 6:59am Nov 6, 2018 6:59am
Quoting capstone
Short at 26.00 at 9:53. Didn't fill.
26 was too high cap .. 12 ticks off 3 point gave 25.50 for a win
Become the casino
  • #8,723
  • Nov 6, 2018 7:09am Nov 6, 2018 7:09am
Wonder if it'll hold above 7000
  • #8,724
  • Nov 6, 2018 7:28am Nov 6, 2018 7:28am
grabbing mode today very tricky i recorded todays action
  • #8,725
  • Nov 6, 2018 7:39am Nov 6, 2018 7:39am
What a battle before sellers pushed back below 7000, once they got thru 7003 it gained some serious momentum
  • #8,726
  • Nov 6, 2018 7:44am Nov 6, 2018 7:44am
Ended at +1 ... had data issues so was a difficult session anyways ... between patience and emotions things are settling down ... I know where to focus and it makes it easier ...
Attached Image (click to enlarge)
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Never give up !!!
  • #8,727
  • Nov 6, 2018 8:00am Nov 6, 2018 8:00am
still getting use to the 6 contract numbers it makes you want to grab to early
Inserted Video
  • #8,728
  • Nov 6, 2018 8:04am Nov 6, 2018 8:04am
+ 24, 8 trades. Had a couple of minor losing days so far this month.
'in less than half an hour he made over 100 ticks'
  • #8,729
  • Nov 6, 2018 8:24am Nov 6, 2018 8:24am
Quoting Divergence
still getting use to the 6 contract numbers it makes you want to grab to early https://youtu.be/2wxlMDT-e6s
I switched mine so it only shows ticks P&L. Helps to not focus on the dollars and cents. Not sure if your platform can do that or not.
  • #8,730
  • Nov 6, 2018 8:30am Nov 6, 2018 8:30am
Quoting Divergence
still getting use to the 6 contract numbers it makes you want to grab to early https://youtu.be/2wxlMDT-e6s
Great stuff was usual D. No meddling with the ingredients. Just sticking to the script and believing in your edge
every Saint has a past. Every Sinner has a Future
  • #8,731
  • Nov 6, 2018 8:36am Nov 6, 2018 8:36am
Quoting magnumfreak
{quote} I switched mine so it only shows ticks P&L. Helps to not focus on the dollars and cents. Not sure if your platform can do that or not.
I don't think I can do that 6 contracts shows 1 tick =6ticks
  • #8,732
  • Nov 6, 2018 8:40am Nov 6, 2018 8:40am
Quoting Divergence
still getting use to the 6 contract numbers it makes you want to grab to early https://youtu.be/2wxlMDT-e6s
Had to pause half way thru to ask why you took this setup?
Attached Image (click to enlarge)
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Staying in my lane...
  • #8,733
  • Nov 6, 2018 8:57am Nov 6, 2018 8:57am
Quoting VEEFX
{quote} Had to pause half way thru to ask why you took this setup? {image}
That was a 2b break
  • #8,734
  • Nov 6, 2018 9:25am Nov 6, 2018 9:25am
Quoting Divergence
{quote} That was a 2b break
Still don’t see it
So many in the Commercial section want to make me rich! :o
  • #8,735
  • Edited 12:28pm Nov 6, 2018 9:28am | Edited 12:28pm
Quoting Divergence
{quote} I don't think I can do that 6 contracts shows 1 tick =6ticks
That sucks... The "ignore quantity" does not really ignore the number of contracts in Sierra.

I also noticed you do not include commission cost in your DPL settings. Your total DPL should be lower after trading costs. This is what I do to show NPL (net pnl) under Global Symbol settings. With 6 contracts, it will made a difference to your bottom line take-home hourly income :-

And my final conclusion to Nick who thinks similar results could be accomplished via non-discretionary entries. I will vouch automating this would not yield the same results as we see Harold doing day in and day out. Let's dissect today's video as a case study:

  1. Setups are 100% rule based - agree and can be automated with ease
  2. decision to accept or cancel setup - cannot be non-discretionary
  3. decision about when to exit (run with whatever profit) is also non-discretionary. This strategy will NOT yield results will all entries when taken are left for bracket orders to trigger on their own. There is intelligence required to make the exit decision based on market structure/conditions. This is also evident in market replay imo.
  4. decision on when to move SL to BE instead of letting the default trade mgmt move SL when 6 ticks in profit.... is also discretionary.
  5. Taking both sides of the setup and cancelling one or other or both.... non-discretionary
  6. To summarize, the setup rules are crystal clear but actions within the first hour require human intelligence and experience! Certainly doable with screen time.

Attached Image (click to enlarge)
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Staying in my lane...
  • #8,736
  • Nov 6, 2018 9:31am Nov 6, 2018 9:31am
Quoting FX-Flux
{quote} Still don’t see it
2B is just a trend reversal i.e. with the expectation that it is a fakeout / stop hunt and price will come back and reverse.
Staying in my lane...
  • #8,737
  • Nov 6, 2018 9:34am Nov 6, 2018 9:34am
Quoting VEEFX
{quote} That sucks... The "ignore quantity" does not really ignore the number of contracts in Sierra. I also noticed you do not include commission cost in your DPL settings. Your total DPL should be lower after trading costs. This is what I do to show NPL (net pnl) under Global Symbol settings. With 6 contracts, it will made a difference to your bottom line take-home hourly income :- And my final conclusion to Nick who thinks similar results could be accomplished via non-descretionary entries. I will vouch automating this would not yield the same...
The dpl does not take commission into account not a big deal I know the net when I take away 1 tick for each trade edit: I see how you do it thanks
  • #8,738
  • Nov 6, 2018 9:48am Nov 6, 2018 9:48am
ok did what you showed instead of 5 i used 4,20 thats my commission
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  • #8,739
  • Nov 6, 2018 10:05am Nov 6, 2018 10:05am
Quoting Divergence
ok did what you showed instead of 5 i used 4,20 thats my commission {image}
Thanks. I put $6 to cover for slippage, partial fills etc in my testing to make the strategy more robust. If you remember, my first day of trading was seriously burnt into flames by not factoring trading costs... kinda sore point that I am still dwelling over :-(

Edit: plus not reading the fine print on their promotion of $300 day margin which came with a $6 RT commission ! Stupid is Stupid does I guess
Staying in my lane...
  • #8,740
  • Nov 6, 2018 10:14am Nov 6, 2018 10:14am
Quoting Divergence
{quote} The dpl does not take commission into account not a big deal I know the net when I take away 1 tick for each trade edit: I see how you do it thanks
I also noticed there is no way to show your MTD or WTD PnL in Sierra. At the end of each day, DPL and NPL gets resets. Same thing on CQG desktop platform as well (which Hilmy uses). How do we keep track of day to day pnl within the platform (for someone like me who likes to trade the "equity curve")?

Edit: I absolutely HATE the daily "end of day" statements. Trade activity log is good but I want to see it in real time on the chart !
Staying in my lane...
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