Trade Sheets
- Thread starter Spectre2007
- Start date
Yes, if the stop doesn't get triggered, or if I lift the stop. My hard stop is my average daily intake. I trade till I hit the daily intake, or more if mind is into it that day. Goal is to not loose more than the average daily intake. Meaning if 9 out of 10 days pull in 250, the 1 day I hit stop loss it should be 250. About 70-80% of the time there is no intraday drawdown. Meaning 100% Win:Loss ratio 7 days out of 10. Key is for the loss to not exceed the hard stop.
I'm only trading 1 lots. Goal is to increase lot size per every 5K. As you can see from the data, I've been lifting the hard stop, and letting loss approach 10 times the hard stop.
I'm only trading 1 lots. Goal is to increase lot size per every 5K. As you can see from the data, I've been lifting the hard stop, and letting loss approach 10 times the hard stop.
You're trading futures with under $3000 in your account?
What is the problem?
- You need an edge
- You need enough margin to trade
- You need to respect your stop
His stop should be lower then points to avoid losing more then 3K.
If his account is empty he should stop or refund, that's all.
His posted results show that it is possible for him.
I would like to give some remarks, don't take them as negative, as I only try to give my opinion on what I see. Maybe it can useful.
I think the first thing to do is find an edge. From what I see you trade based on what you think.
If you think it is long you try to quickly catch 1-2 ticks and then get out fast. Your average profit per trade is far too small to prove that you have an edge.
In your last statement is see that you trade very frequently in a very short time and for the rest of the day you do nothing. All your prices are in the range 21-32. The range of the day was 15-69. So you were active in less then 25% of the daily range, what confirms for me that you have no real edge, or an edge that lasts only seconds (the execution times are not visible so I cannot see exactly the timing).
I did one trade that day. And stayed in till more or less the closing. I paid also far less commissions. For that you need an edge.
You should let your profits run, but the problem is that you should first know when the odds are in your favor. In other words: find the trend.
Last edited:
When I traded, on the floor, scalping, the ‘edge’ was being able to buy at the bid and sell at offer. That was the edge. The word edge has been transformed to encompass more, like anything the is perceived to give advantage on a entry.
Floor traders quoted sides based on what direction price was going to tick next. Meaning they would only offer if they felt the next wave of ticks would be to the downside and vice versa.
So not being able to make the market on the screen, you end up playing dispersion of the bid-ask. The principle of trying to predict the next wave of ticks is still needed.
I have my own discretionary tools to try to sway probability in my favor. Some days I’m pretty motivated to trade the whole day. For me it’s just a game. I’m on 2000 acres up north near Kirkland Lake. I needed to rest up for the drive, so only traded till I hit my goal. I’m fairly well off but these days my time is consumed by so many other things. I still love to scalp, so do it for brief moments.
Goal is to see how high I can take it or blow out. My options account is at 60% for this year. Maybe one loss. It’s all a game to me. I want to keep my skills up to teach my kids what I know.
Waited longer to capture more points.
TOS statement
