DAY 19 – Apex Sniper Trading Bootcamp – Weekly Review … Time to review the last 19 days. Actions I took: Review of the last 19 days Review of the stats for the last 13 days Continued using Market Replay Reviewed my plan for the week Review of the Last 19 Days It has been interesting to learn a new approach which on the surface is using simple strategies but is based on order Flow and adapted to help the trader identify the setups easier. I always wanted to learn Order Flow but every time I started looking at it I found it was complicated and often contradicted itself. Maybe it was the courses I looked at? As I have said before, to be successful with this course you must understand when NOT to trade. This is a continuing learning process. Apex Investing recognizes this and discusses the reasons during the trading room sessions and with many videos to help. The problem in the trading room is that you cannot assume that others know the rules and have learned the reasons, not to enter. This is not unusual for trading rooms where everyone is open to give advice. My view is appreciated every ones help, trust what they say but check to make sure it is correct. Keep plenty of notes. The two moderators are always willing to answer your questions. If they are not in the room at the time, you can just Skype them and they will get back to you with the answer when they can. So, overall I am happy with the course and the support. I still believe this course can help me be profitable in 90 days. Review of the Stats for the last 13 days I am fully aware that 13 days of tracking the profitable trades is really not long enough for any deep analysis. I still think it is worth a quick look at some of the stats that have come out of the 13 days. 13 Days of tracking Potential Trades using ES. These are trades I identified as being valid. 180 Trades 161 Winners (7 Ticks per win) 19 Losers (17 ticks per loss) The following chart shows the Time of Day(TOD) that the trades occurred. Below zero are the losers. The interesting observation is the TOD where the Losers occurred. As I said above, it is too early to draw conclusions but it still flags things to watch. This should over time help me choose the best TOD to trade this method. With minimum stats, 9 am – 11 am is one time period that looks good. I would not have picked that period as being so good! Maybe I was influenced by the live trade room. The other stat that is starting to look promising, is the Maximum Favorable Excursion (MFE). It will help in identifying larger profit targets. If I combine the MFE with TOD it could identify times to possibly go for larger targets. This Week’s Plan It is time to start Live Sim trading. Sometime this week I will begin. For transparency and self-accountability, I would like to post the trade immediately after I enter. My problem is that the trades I take are usually quick so I need to focus on the trade. So, I just need to test and see how I can make it work. I will report back tomorrow on my progress and any lessons I learn Disclaimer I am not affiliated with any of these companies.
I wouldn’t worry about tracking while your trading. Do that post trade. Stay focused on the trade while you are in it.
Hi Ouch1963, I will see how I go. If I can post my trade as I go I will but if it interferes with the trading I won't. It will hold me accountable and that is always a good thing. Cheers Garry
You're already doing a ton of stuff to document your trading. I know because I did something similar when I first started documenting my trading when the internet first started. It took me about 2 years to get use to doing it before I even worried about "posting trades". In fact, every year...you'll learn what's important to document and what is not important especially as your trading evolves. If posting your trade is so critical that you believe it will hold you accountable...use Youtube Live or something compatible and it will also record your trading session for you to review any time. A lot less time consuming and less mental pressure than posting trades...allowing you to concentrate more on your trading and less on posting your trades. Later, after you're in a good routine of following your trading plan...you can continue your live screen recording but in private mode. Use your trade journal to post summaries after your trading day completes. wrbtrader
DAY 20 + 21 – Apex Sniper Trading Bootcamp – Daily Review … How quick did the 21 days go! Actions I took: Listened to the trading room for the first 90 mins of the US Open Continued using Market Replay to improve my live market decision making for the live market Reviewed the potential trades for Sunday and Monday Live Trade Room and Commentary The first 60 mins of the US Open was slow. In the room, Darrell took the opportunity to walk through trades and educate the group. I am sure we all learned something or had something reinforced. Market Replay Lessons Sometimes the best lessons occur when you are not in sync with the market. Many lessons were had! Sunday and Monday ES and NQ Potential Trades NQ was exceptionally sparse on trades, but the trades that were valid won. 5 wins for 5 trades. The trade setups are only setting up during the US Market trading day. From today’s NQ market I would not be trading it yet. I will keep tracking it. ES had 12 wins with 1 loss. The market was going into a lot of choppy areas and I do not take trades into, out or during chop, so the number of trades was reduced today. The following is the legend for the trades sheet: I will report back tomorrow on my progress and any lessons I learn Disclaimer I am not affiliated with any of these companies.
DAY 22 – Apex Sniper Trading Bootcamp – Daily Review … Terrible trades in ES! Actions I took: Listened to the trading room for the first 90 mins of the US Open Continued using Market Replay to improve my live market decision making for the live market Reviewed the potential trades for Tuesday Live Trade Room and Commentary Often in trade rooms, the moderators don’t admit or make excuses for a loss. Darrell lost 3 trades today and didn’t make any excuses. Instead, he stayed longer (all day) in the room to help identify trades for the students. Market Replay Lessons Only a quick Market Replay session but great practice. Tuesday ES and NQ Potential Trades Interesting day. I only identified 4 valid trades in ES and 3 were losers. These were finished by 10:20. It then became obvious that NQ was giving the signals. I identified 14 trades for NQ with 13 winners. This shows the value of trading 2 markets. If one is quite then hopefully the market is moving. The following is the legend for the trades sheet: I will report back tomorrow on my progress and any lessons I learn Disclaimer I am not affiliated with any of these companies.
Hi Ouch1963, Good question. These are trades for the day, so it would depend upon which trades were actually taken. Remember the rule is 3 Net profit and my modification was to reduce the 6 Net Losses to 3 net losses. So if I had 2 losers and then 1 win followed by another loser is still not 3 net losers. If I hit my 3 net losers I would stop for the day and review the reason for the losses. I would live to fight another day. I hope this helped Cheers Garry
DAY 23 – Apex Sniper Trading Bootcamp – Daily Review … What a difference a day makes! Actions I took: Listened to the trading room for the first 90 mins of the US Open Watched this week’s videos Reviewed the potential trades for Tuesday Live Trade Room and Commentary I find the trading room good but I don’t like that you have to be in the room to hear some of the information. Most of the time it is not recorded, so you miss some golden nuggets that would help you clarify the setups. Don’t get me wrong, I believe you can be successful (yet to be proven) if you are not regular in the room. It is just that the information from the room will help. I am still recording the room when the moderators are in the room but need a way to convert it to text for rapid review. This week’s videos I missed a couple of the live webinars this week so caught up with the videos. They get posted quickly after the events. Comments about Yesterday Yesterday was not the best day for trading the ES. It is good to see the NQ starting to give signals. I was asked how I would handle yesterday with the 3 net wins: 3 net loss rule. I modified this rule due to my backtesting. Apex has the 3 net wins or 6 net losses to stop trading. At some point, you have to STOP and Review the day. You cannot keep on losing. The Stats I provide daily are for the whole day. If you are only trading between 10 am and 11 am then you would only look at the results for that period. So everyone’s day may be different. The rule is NET Trades so if you lose 2 then win 1 followed by another loss. You had 3 losses but the net is not 3. So you would keep trading. Wednesday ES and NQ Potential Trades Today was a better day. I identified: ES – 8 Trades – 8 winners NQ – 17 Trades – 16 winners Have a look at the MFE, and you will notice some very good upside to increase the target or trail a second contract. It is too early to make any decisions until a much large sample can be analyzed. I will report back tomorrow on my progress and any lessons I learn Disclaimer I am not affiliated with any of these companies.