Earn 2 Trade the gauntlet

Handle,

I have catastophic targets...hehe. I need to establish a bracket in the initial entry. If I try to enter and exit on the DOM like a video game I pay double margin...but brackets do not incur extra margin with Rithmic.

Brackets are really Kewl in Rithmic. They have extra stuff like BreakEven Stop loss and market if touched. I use both of them now which should improve my trading next week. So I scale in with my brackets and they take the 5-tick SL serious. My targets hang out there in case I need to drag them in when I see something in the orderflow I do not like" I get price improvement with "market if touched targets" even if I drag them in. I get to breakeven automatically now quicker than I can do it manually as that is now managed by the bracket order chain. When scaling in 3 times and scaling out three times this would get hard to manage without brackets. When all my trades are done the OCO has taken out everything and I have a clean DOM waiting for my next signal.

ElectricGauntletSavant

Handle123 said:
I use to have targets, but on good days, go past the targets which will help offset larger losing days. But all based on time of the day as it is like an hourglass. Good trades lets you get in and never comes back, crappy trades hangs around where you got in, take a tick and wait for next signal. But based on back testing of what is 90% of average mean based on time of profitable trades.
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Beware...If you lose some dollars and all of a sudden you increase your contracts to make up for it...that does not bode well with Helios. Don't you think they will see that? It is good to go like a tortoise with consistent profits and low drawdown. TRS you are one of the smart ones and are figuring out the "pace" of things.

I am not worried about the 165 bucks I lost last week...but I am worried about increasing my contracts. Lets see how this works out next week. If I make the whole 10% in one or two weeks then what will I do? It is the worst thing just to trade once a week as I would not be demonstrating consistency...but binge trading instead.

ES

P.S. I am not going for a 70/30% contract...I will not except it as I would not feel good about Helios. I would retake the Gauntlet instead. I will share at the most 20%. I am getting ahead of myself however as I first must pass this Gauntlet thingy.

TRS said:
The trader has on average 45 trading days over the course of the 2 trading months, making the minimum requirement of a $55.55 return per day exclusive of commish to reach target.
Not difficult for traders that have a quantifiable dialed in edge.
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I like RTY. 6E and 6B are great for night trading in my neck of the woods. NQ is my secret weapon some day, but I certainly cannot trade OPM with it yet (I would love to tell you guys how it is testing out, but I can't...very exciting). I do not like the ES.

Es

pfsthib said:
I will focus on 6E, may take some trades from RTY, 6B, NQ, & ES
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The ES is an EVIL instrument. Well I am going for a walk...to the liquor store to get a quart of Old English 800 in a brown paper bag and hang out in front o_O

Es


Handle123 said:
Trading the ES is more choppy than other markets as it is used more for hedging imho. So you have chop and you have trend, Trend usually are started from reversals and often called "First Leg", if first leg does not have strong enough thrust, price stalls and we have chop. I use a 2 minute chart to help define chop better using an RSI and 55/45 zone, if RSI stays more than couple bars, 4-6 minutes in the zone=chop for me to identify. And beyond 55/45 is trending. So, it is better to have 2 separate methods, one for chop and different one for trend. In chop I am looking for "clumping" of highs/lows, I will take either side, risk 4 points as catastrophic stop and scalp away. I have limits of how many I do, don't want to over stay and become a pig.

I have done real money contests in my past, always found it stressful, even more so than normal.
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ElectricSavant said:
Handle,

I have catastophic targets...hehe. I need to establish a bracket in the initial entry. If I try to enter and exit on the DOM like a video game I pay double margin...but brackets do not incur extra margin with Rithmic.

Brackets are really Kewl in Rithmic. They have extra stuff like BreakEven Stop loss and market if touched. I use both of them now which should improve my trading next week. So I scale in with my brackets and they take the 5-tick SL serious...but my targets hang out there in case I need to drag them in when I see something in the orderflow I do not like...but I get to breakeven automatically now quicker than I can do it manually. When scaling in 3 times and scaling out three times this would get hard to manage without brackets.

ES
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I know like Ninja has breakeven stop, limit is touched can be like neg 2 ticks if you doing breakouts but want to get in 3 ticks better, also is volume stops, you can put in a stop and so much volume on a price level and cheat a little, also has OCO so you don't have to cancels either target or stop if other one gets filled. Never heard of double margin before. I never do trailing stops, all my back testing shows I short myself on noise entering, if there a reason of what is happening to possible get out, I just get out, scalping don't make sense to me for trailing stops as first targets is 4 ticks or less, and runners, only time stops are moved is when probabilities change, so it is not what I think is happening as software I have made takes over then after the entry on a system am testing on real time.

They let you trade Bund? That trends very nicely. All my intraday/long term has exactly same exit rules, so software just does it as I can't remember all of it any more, LOL. Everything changes if RSI shows either chop or trend, easier to program than using chart patterns.

This might sound odd, to most, but if you can do high percentage of making 6 ticks a day and get it up to 70 lot times 240 trading days is over 1 mil. So some systems I made have one system loss, done for the day but it stays on till loss happens up to fifteen trades or certain time. For me what matters most is percentages of drawdown, kept very low is my goal and not profit percentages.

Well, think of ES as a true hedge of hedge funds and why it trades herky jerky, I don't know if they are still arbing against large S&P pit traded any more when there is differences. Nasdaq I think is easier to trade cause as it runs more but can't really do size, often times money ranges greater in NQ's.

They still have paper bags?
 
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I hooked up some killer Logitech speakers (top end). Good Early Evening Ladies and Gentlemen... welcome to the Partay. Remember drink responsibly and have an out of this world experience. Oh my GAWD!

The walls are pounding and the windows are vibrating...(technology! don't tell Wifey what I paid for these)

Shit! my office is like a THX home Theatre! You guys gotta' come over and hear this! (even that Ninja Trader chick is going to sound sexy on this)

 
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Dude...Rithmic is on par with TT...not quite the ATM strategy of NT though but close.

I do not do Trailing Stops for the reason you state. Automatic stuff is nice but its nice to know that I am still needed. I use the self check-out when I am in a hurry except if I have vegtables.

Double Margin is a Rithmic thing in how you place your orders. The Stops and Targets must be attached to the order as the stops and Targets are held local for the CME.

Handle we are getting older....

Well the ZB is for spread traders...like the ES is for Hedging the Hedge funds...Most scalpers do not get near a freight train like the ZB. But here I am. Don't fall asleep beteen trades in the ZB with your hand on the mouse:D

Handle Thank-You for the re-enforcement about Drawdown.



ElectricDoesNotPayForPlasticSavant


Handle123 said:
I know like Ninja has breakeven stop, limit is touched can be like neg 2 ticks if you doing breakouts but want to get in 3 ticks better, also is volume stops, you can put in a stop and so much volume on a price level and cheat a little, also has OCO so you don't have to cancels either target or stop if other one gets filled. Never heard of double margin before. I never do trailing stops, all my back testing shows I short myself on noise entering, if there a reason of what is happening to possible get out, I just get out, scalping don't make sense to me for trailing stops as first targets is 4 ticks or less, and runners, only time stops are moved is when probabilities change, so it is not what I think is happening as software I have made takes over then after the entry on a system am testing on real time.

They let you trade Bund? That trends very nicely. All my intraday/long term has exactly same exit rules, so software just does it as I can't remember all of it any more, LOL. Everything changes if RSI shows either chop or trend, easier to program than using chart patterns.

This might sound odd, to most, but if you can do high percentage of making 6 ticks a day and get it up to 70 lot times 240 trading days is over 1 mil. So some systems I made have one system loss, done for the day but it stays on till loss happens up to fifteen trades or certain time. For me what matters most is percentages of drawdown, kept very low is my goal and not profit percentages.

Well, think of ES as a true hedge of hedge funds and why it trades herky jerky, I don't know if they are still arbing against large S&P pit traded any more when there is differences. Nasdaq I think is easier to trade cause as it runs more but can't really do size, often times money ranges greater in NQ's.

They still have paper bags?
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Have you noticed how when music is first turned on and it's LOUD...then after a while it is not so loud...

This is Life and what the end of it turns to...ElectricSavant

where's my bag...

 
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