Hi Ouch1963, As I said in the weekend post ... the next step is the live sim and sometime this week I had planned to start. The performance on Monday and a couple of items that were mentioned in the trading room sent me back to check a couple of things. I will start the live sim either this week or early next week. I would rather start with confidence then start and not have that confidence. My approach to sim trading is like it is live money trading. Cheers Garry
Garry, makes sense. Curious to know what comments raised concerns / doubts? My goal is to follow in your footsteps once you've been live for a month or so.
DAY 24 – Apex Sniper Trading Bootcamp – Daily Review … NQ giving more trades. Actions I took: Listened to the trading room for the first 90 mins of the US Open Reviewed the rules for the setups Reviewed the potential trades for Thursday Live Sim Trading I have put back my live sim trading until next week. The market is changing and giving more trades in NQ. I will still take trades in ES but need to transition to NQ trades as well. There are some slight changes to the setups in NQ, so it is important to be up to date with these variations and have backtested them. Thursday ES and NQ Potential Trades Today was a slow day for ES. I identified: ES – 2 Trades – 2 winners NQ – 15 Trades – 14 winners The MFE info is still looking good. I will report back tomorrow on my progress and any lessons I learn Disclaimer I am not affiliated with any of these companies.
DAY 25 – Apex Sniper Trading Bootcamp – Daily Review … ES provided only a few trades and NQ, the best it has been. Is this the changing of the guard? Actions I took: Listened to the trading room for the first 90 mins of the US Open Reviewed the setups for NQ Reviewed the potential trades for Friday for ES and NQ So why are the NQ setups different from ES? I have had some questions about why they need to change the setups when trading the NQ market. The changes are only minor but can make the difference between being profitable or not. It comes down to the speed and momentum of the NQ compared to ES. Friday ES and NQ Potential Trades I identified: ES – 4 Trades – 3 winners NQ – 22 Trades – 20 winners At this time, most signals on NQ occur after 630am. Both markets having interesting MFE results., I will report back tomorrow on my progress and any lessons I learn Disclaimer I am not affiliated with any of these companies.
Trading Psychology I have been asked a question about what psychology books I recommend. There are many books, courses, and articles on trading psychology, so it is important to find someone who resonates with you. Mark Douglas doesn't resonate with me but many people rave about him. So, my suggestion is to go to youtube and listen to Mark Douglas as his books and seminars are there to listen to. See if he resonates with you. I have highlighted my favorites Other people on youtube to check out are: Brett Steenbarger - he has a new youtube series https://www.youtube.com/playlist?list=PL4Xc9uwUmmqShzbxH8epZGVIUHmuKX7Ha Rande Howell Urban Forex Axia Futures Mandi Pour Rafsendjani Clay Trader Chris Capre Van Tharp Steve Ward Gary Dayton Norman Hallett Books and Courses All of the above plus Market Mind Games - Denis Shull Reminiscences of a Stock Operator - Edwin Lefevre Sway: The Irresistible Pull of Irrational Behaviour - Ori and Rom Brafman Let the Trade Wins Flow - Dr Harry Stanton Thinking, Fast and Slowly - Daniel Kahneman The Mental Edge in Trading: Adapt Your Personality Traits and Control Your Emotions to Make Smarter Investments by Jason Williams The Psychology of Trading: How to Create and Maintain Your Winning Edge - Jason Alan Jankovsky The Power of Habit - Charles Duhigg Trade With Passion and Purpose - Mark Whistler The Hour between the Dog and Wolf - John Coates Ruth Barron Roosevelt Dr Alexander Elder LR Thomas Ari Kiev Yes, I selected a lot! You can learn from everyone. Note that some are not "trading" books but they do relate to traders. LR Thomas, Clay Trader, and Axia Futures have some very good beginners material on Youtube. When you find someone you relate to then you can go down that rabbit hole but remember it has to be practical. These are the ones off the top of my head and if I have missed anyone I think is important I will post it. I hope this helps Cheers Garry
DAY 26 + 27 – Apex Sniper Trading Bootcamp – Daily Review … Today is the first day of Sim Trading … Actions I took: Listened to the trading room for the first 90 mins of the US Open Start of the Sim Trading Phase Reviewed the potential trades for Sunday and Monday for ES and NQ Start of the Sim Trading Phase Sim trading didn’t start great with my profit target wrong in the first trade and the second not being a valid trade. If I had my profit target in the correct position then it would have been hit. So what did I do wrong? My NT7 platform had a problem so I rebooted it and didn’t check my settings!!! The second trade was a simple mistake and still hit my profit target. As it wasn’t valid I did not count it in my numbers. Overall my results were a good start even if I didn’t hit my daily target. Below are my results of possible trades, sim trades, and images of the trades. I will report back tomorrow on my progress and any lessons I learn Disclaimer I am not affiliated with any of these companies.
I understand your situation. because we have gone through it before. It seems that you have attended numerous courses and have traded many years. so by now you should have the necessary background, knowledge, tools .... to trade. Not sure why you must attend even more courses. I think you should look through your trade journal, develop your own trading strategies / trade plan. don't attempt to do what other traders do because we have different experiences / expertises / preferences ....
Hi Maxinger, I am not sure why so many people don't like a bit of a challenge? Thank you for your advice. In my posts, you will see that I do trade my own systems and have a funded account with TST. This is a challenge to learn and grow. Please share how you think I can improve this challenge Cheers Garry
Garry, Have you tracked your paper “win” rate on trades so you can compare to your sim win rate? Will be interesting to see the correlation between the two, and then eventually to live trading win rate.