Earn 2 Trade the gauntlet

Illini Trader said:
Your post appeared right after ES posted his daily loss of 2,600 wiping out his gain of 1,500 in the prior 9 trading sessions so apparently you had not seen that trading result yet when you made your post. The timing was unfortunate as it made it look like you were poking fun at his big loss at the time when he needed some TLC.
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Not poking fun at ES's expense and not following his trades blow by blow, just playing devils advocate if I may use that word, it's healthy to question from time to time all our institutionalized thinking.
 
TRS said:
All the positive words, prayers and affirmations ain't worth nothing in this game if you don't play with a quantifiable repeatable edge.
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I'm grateful to live in an era that allows me to automate. Nowadays, I get ZERO thrills from watching price fluctuations. If I traded during the pre-algo era, it's doubtful I would have tolerated the pit trading environment, and cesspool of human filth within it. Life is too short :)
 
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Illini Trader said:
I love your even keel, unflappable stance on whatever comes up on ET. I will hold you to the "old dog does eventually learns" comment.:D I am that old dog and failed miserably on the Gauntlet this summer, but am in my own personal boot camp preparing to take it again. I actually took my Gauntlet from the initial 25,000 down to 5,200 (80% loss) before I told Ryan I was packing it in and heading for my cave. Anyone fading me could make a fortune.

When I start my 2nd Gauntlet, I think I will post the time stamped actual trades on this thread. It should provide some good laughs to you guys that know what you are doing. Seriously the daily accountability showing my trades may help keep me from going on tilt and help in making responsible decisions.
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Am trying harder to make changes from outward anger in my life and directing it towards those who take other side of my trades, seems to be working as life starting to become more calm. So more aggressive of picking off weak hands and making extra tick or two off them. Am trying to increase my weekly average net trade amounts in scalping. But there is just so much one can do when doing automation. Always give and take, try to collect the "mean" always means getting less as in more filters, less opportunities to get more or take more trades.

Posting times may help, as those who want to help you can make comments of what they see and then you have added information to back test. It always the little things that can make biggest changes. Forgot where I read it, but difference between losing trader and breakeven trader is 1.5 trades they should have not taken per day, so in your next quest, how many patterns have you discovered that will halt you taking normally viable signals? So what in recent or long term past can you identify to "skip" next set of signals?
 
Handle123 said:
ut difference between losing trader and breakeven trader is 1.5 trades they should have not taken per day, so in your next quest, how many patterns have you discovered that will halt you taking normally viable signals? So what in recent or long term past can you identify to "skip" next set of signals?
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Thanks, very interesting insight that just avoiding a trade or two in a day can make a big difference in overall results. I will keep that in mind in analyzing my sim trading.
 
CALLumbus said:
@ElectricSavant

ES, you need a daily loss limit. I would also use a profit target. Thats how I do it. This should help you to achieve a smoother equitiy curve, more consistency.
The way you trade now, with your daily results, you can still finish this profitable, for sure. But the swings are pretty wild, it is hard to scale up with such swings. It is not exactly what a prop firm is looking for.

From looking at your numbers, I would set a daily loss limit at 200 USD. The same for the profit target, if you reach 100 - 200 USD on a day, just stop trading and enjoy the rest of the day.

100 per day are much more attainable with a low contract size, you can aim for consistent scalps instead of betting on huge, unpredictable swings. You need much less time per day to reach 100-200 USD per contract, instead of aiming for 500 and more. Much less stressfull and enjoyable, you will really feel the difference over time. Remember, this game is more like a marathon, not a sprint.
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Most will view your post as hogwash, but most believe in American way of more in better, but in trading, less is better.

Too many people believe they have to work all day & take many signals to make huge sums, but what they need is to make consistent low losing percentages and drawdowns. Netting $62 bucks each day times 10 lots times 240 trading days is $148,800 a year, but to net $62, need to make between $100-125 a day to iron out losing days. When one gets very consistent, add size.
 
themickey said:
It's healthy to question from time to time all our institutionalized thinking.
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Right about now, I'm questioning the futility of endeavors/statuses society attaches meaning to. Lately, I've been posting here, for the sake of posting. This overconsumption of technology doesn't feel healthy. I'll try to permanently retire out of here (again) and hit the waves for a few weeks. Hopefully some shark(s) will make a good meal out of me. I wish you all good health and fortune:fistbump:
 
Handle123 said:
Most will view your post as hogwash, but most believe in American way of more in better, but in trading, less is better.

Too many people believe they have to work all day & take many signals to make huge sums, but what they need is to make consistent low losing percentages and drawdowns. Netting $62 bucks each day times 10 lots times 240 trading days is $148,800 a year, but to net $62, need to make between $100-125 a day to iron out losing days. When one gets very consistent, add size.
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I agree 100%. This is also how many of the 80s/ 90s pit traders played this game... come there in the morning, make a few ticks with big size, then go home and enjoy the day.

https://www.elitetrader.com/et/threads/pabst-questions-regarding-pit-trading.71503/
https://www.cigaraficionado.com/article/hedging-stress-7471
 
Start: 09/17/18 Monday $25,000.00


09/21/18 Friday $24,873.20 -$126.80 (1st week aggregate loss)
09/24/18 Monday $24,908.71+$35.51
09/25/18 Tuesday $26,105.62 +$1,196.91 (4 trades - 4 win, 0 loss, 0 scratch)
09/26/18 Wednesday $26,164.00 +$58.38
09/27/18 Thursday $26,247.86 +$83.86
09/28/18 Friday $26,510.98+$263.12 (12 trades - 9 win, 2 loss 1 scratch)
10/01/18 Monday $25,900.09 -$610.89 (14 trades - 0 win, 10 loss, 4 scratch)
10/02/18 Tuesday $26,032.22 +$132.13 (8 trades - 6 win, 1 loss, 1 scratch)
10/03/18 Wednesday $26,582.03 +$549.81 (21 trades - 18 win, 0 loss, 3 scratch)
10/04/18 Thursday $23,939.60 -$2,642.43 (12 trades - 3 win, 9 loss, 0 scratch)
10/05/18 Friday $23,019.14 -$920.46 (23 trades - 20 win, 3 loss, 0 scratch)
(ll


Gauntlet Expires: 11/16/18 (30 trading days left, money left to earn : $4,480.86 )
 

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Currently, I do much better in Cash Spot Forex than I do in Futures:

https://www.elitetrader.com/et/threads/a-truly-amazing-ea.325500/page-3#post-4740061

Today I traded the Bonds (I am encouraged that I can do much better than I did today).

Folks I have written this Gauntlet off as I will never get the funding offer that I wanted, even if I double the money. However, I will continue to trade this Gauntlet until I cannot anymore. I need the screentime.

If you have any questions about the Earn2Trade education and potential chance to trade an account...just ask...Do Not worry I am fine and not jaded. I am used to losing.

ES
 
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