ES gap-up and chop three of four days this week... and all four days nothing but range-dead. Other than overnight lifts outside my operation, four straight days of emini nothingness. Shorted several trades on breakdowns and pullbacks... some went 2pts in favor and back out, some simply chopped out. -900 and done for the day in this ES project. Cannot aptly trade what absolutely does not move. No idea what is causing this, who is/is not propping markets intraday, who is/is not moving the overnight, etc. All I know is what we see, and all Iâve seen for the past four emini sessions is flat-chop and nothing else. Unless this abates next week and does not return again, itâs off the ES and back to banging 1-2 lots CL as the only symbol that still knows what up & down means. See you tomorrow
Austin, you have been trading for over 10 years and you really are shocked at how the ES is acting? This is EXACTLY how the ES trades 95% of the time. Yes, we get range expansion on corrections like the one we recently had which gives you great two way action on both the downside and the short squeezes that follow, but once the market stabilizes and resumes it's upward trend, the ES falls back in it's tight ranges with no meaningful follow through. This has been the case as long as I can remember. Why are you surprised by this? Markets by definition don't have expanded ranges when they are calm and stable. Honestly, a guy like you would probably be better off trading stocks. If you are waiting for the spoos to come to life you might be waiting a really long time. Meanwhile Oil crude has dropped 3 pts in a straight line with no upticks.
Speak for yourself! Or maybe im just a masochist... ES is a tough nut, but if you pick your spots, dont overtrade and keep a good risk profile its a good product. Ive been trading the $SPX and all variations for a long time though. -------------------------------------------- Good luck AustinP.
So does this mean that you can take the full 60 days (on a 20-day combine) to make the profit target and get funded? And that going forward after the recently announced change that the continuous will need to be requested? Interesting... From the website: -------------------- If upon the completion of the 10th or 20th trading day, the Daily Loss Limit or Max Drawdown has NOT been hit or exceeded during the first 10 or 20 trading days, you may continue to trade the account. At this time, or any time going forward (within 30 or 60 calendar days of the start date), you may âSubmitâ your Trade Report for a review from the Scout team. If at any point after the 10th or 20th trading day, the Daily Loss Limit or Max Drawdown is hit or exceeded, the Combine will be closed and will not be eligible for review. If you do not trade the required minimum days during the allotted time, the Trading Combine account will automatically expire. You will have access to the Squawk Radio for the entire 30 or 60 calendar days. ---------------
why you think he has been trading the last 10 years ?! he has been a vendor ONLY the last 10 years http://web.archive.org/web/*/http://coiledmarkets.com google is your best friend
you have not seen three sessions out of four as gap-up and chop days other than 2013. You can count on a single hand how many times ES has left behind two consecutive open gaps thru the past five years... before 2013 the difference now versus before is oscillations. Now price sits in a 2pt or 3pt coil for endless hours, makes one algo blip up or down and repeats the process secondly, what's your explanation for TF? Is today's 6pt total chop range its historical norm? Same as ES, it is unusually muted now. lastly, I do still trade CL for myself. What does that have to do with TST? If you try to work any amount of size in CL you will fight partial fills in the good trades and slippage on full positions in the bad trades. Fills execution for 1-2 CL lots is a different reality as you try to scale up with consistency. I don't personally need a TST account to trade CL because I have no interest in trading large block-size CL. Sure it's been wonderful to trade these past several sessions... in small size. My plans for TST differed, but I'm not going to beat my brains out in ES if the tape persists this dead. In other words, I ain't doing square pegs in round holes. If the ES will oscillate and trade thru normal range expansions (easily measured with Roadmap study) then that's great. If not, bye-bye ES and back to CL solely
Mav, out of respect for your positive input here and the fact that the review is booted and we're in demo mode for the next remaining six days, I'll switch to CL and we'll have some fun over there. Meanwhile I can either trade ES or simply observe it, figure out if I want to do anything there soon, later or whatever. At least I won't be staring at dead-range chop all day, and not trying to work ES in MT4 / CL in NT at the same time. Tomorrow's report will reflect CL and the duration of this program next week, too.
No, I didn't request anything. It is automatic, but I am done with you. The #1 rule of Shilling for a Company is: Know your product! But anyway, here is the philosophical question, for others, not you: If the last quarter was your best one as the numbers of funded traders go, why would you change the rules again, when the generic rule is, don't change on a winning team/formula? (For the record, they just reverted back to the original rules what were in place before February.) Possible reasons: 1. The real money making side of TST is the Combine and not the funded traders, thus if it is too easy to pass/get a refund, less fees are coming in. Most likely. 2. The quality of funded traders are not as good as before. Possible, but the stats are still there, only the profit target was lowered. So really, I don't see this as a valid reason. Here is what they say: 3. " A trader that treats every day with the utmost importance. This was effective prior to TST introducing the minimum Combine and it will continue to be effective after removing the minimum. If you guys think I'm wrong look at the trade reports for those that have been funded.. They use 10 or 20 days depending on what they signed up for. They do not use 42 days. We have studied this for a while and concluded that the minimum Combine format needed to be adjusted. It will be adjusted next week. In the last three years we've made continuous changes to the Combine that are in the trader AND equity partner's best interest (as we represent both). This is our most recent change and we look to produce even better talent going forward." If I am reading this right, he is kind of saying that the talent level is better in the old way, and anyway, most successful passers are taking only 10 or 20 days...But so what? If it takes me 15 days instead of 10, I still have to pass the Live Prep, so there is no harm in letting me try to do it. By the way anyone dreaming to get a paycheck from TST, the hurdles are the following, because they are not entirely clear on these: 1. Pass the Combine. 2. Pass the Live Prep. 3. Pass the Interview. There is a recorded interview and you can still be rejected for a few reasons, like not being able to speak/understand English very well or having a shady financial past, and so on.... 4. Build the profit cushion, once you are Live. If you have successfully passed these 4, congratulations, you can request a paycheck...