Grinding it out, day after day

[lescor]

Quote from Gabfly1:
What multiple of your predetermined risk would you typically score on an "average" profitable trade?

Can't really say since I don't have a predetermined risk and don't use stops. I try to give a trade time to work and will usually just take the pain and follow the plan unless something is obviously going on which I don't understand.

Quote from jnbadger:
During these slow times. is it safe to assume most of your trading (other than OPGs) is during the active morning hours?

Most of my trading has always been during the first 90 minutes of the day unless the market is really active. In fact this summer I rarely was at my desk at all after the first hour and a half.

Quote from TheAngryHermit:
You say gaps are a large part of your trading? ...and you're basically a RTM trader?
So, is it safe to say that you expect the gaps you play to close (at least partially)? It's been my experience that 'gap ups' keep going up and 'gap downs' keep going down.

They obviously can go either way, but I try to apply some filters that increase the odds of the trade going in my favor.

 

[ChkitOut]

One thing I have trouble understanding is how RTM traders did great during the meltdown back in '08.

You would think it would be the opposite. Perhaps you could shed a little light on that.

Thx

 

[konviction]

If most of your trading is automated, whats the manual part?

 

[Szeven]

Quote from ChkitOut:

One thing I have trouble understanding is how RTM traders did great during the meltdown back in '08.

You would think it would be the opposite. Perhaps you could shed a little light on that.

Thx

If you normally buy at 1 std dev from the mean, when its volatile, only take trades at 2 std dev from the mean! More vol = more money!

 

[NoDoji]

Quote from konviction:

If most of your trading is automated, whats the manual part?

It's at the end of the trading day when he jumps up and down and yells, "Yes!!!"

 

[lescor]

Quote from konviction:

If most of your trading is automated, whats the manual part?

Repeating myself already...
"I don't really run black box auto systems. I have one that is 100% auto, but it only trades the first 15 minutes of the day. The rest of my stuff is more grey box, where the system flags a set up and I have to decide to enter or not. I also use automation to manage trades and exits and to send lots of orders quickly. "

I do plenty of key punching. I can use automation to send 1000's of orders, but trade out of the positions the old fashioned way.

Jumping up and down and displaying exuberance is condemned in my office

 

[bigarrow]

What prop firm are you with Lescor.
Looking forward to watching some of your trades.

 

[konviction]

Quote from lescor:

the system flags a set up and I have to decide to enter or not.

Who developed the system..as in programmed it?, and how much did it cost..or at least give me a round number. Also where does the program run?..server or desktop pc? I'd love to be able to scan for stocks on daily charts that have 38,50,or 61.8 retracements without having to scan the entire market. Trade-ideas helps alot, but its far from perfect.

thanks!

Kon

 

[Jander]

How often do you take piss breaks? Wait till action is slow.. or ?? Would you say they positively or negatively affect your trading... just give me a head nod

 

[xburbx]

ha.. funny. i think if you look up his prior posts you will see he trades with evolution. not sure if that is still correct.

Quote from Jander:

How often do you take piss breaks? Wait till action is slow.. or ?? Would you say they positively or negatively affect your trading... just give me a head nod