TF 233-ticks & 10 min
Started with 233-tick chart, got in on a scalp setup but bailed when there was no momentum (I've gotten used to 3-tick scalp profits - but this time, I got out exactly where I wanted to).
Switched to 10min and took a trade at the close of the 2nd candle.
What I'm doing is really scanning different instruments and different timeframes (depending on the time of the day and the type of day ie ranging, trending, choppy) for something I recognize. I've studied all the charts over the weekend and drawn in key S & R for 23 charts. So I'm playing levels. Timeframe and type of charts don't matter to me. All of them have been studied for patterns that are fairly reliable in the most recent months. I recognize that at some point in the future (hopefully not too near) these patterns will stop working on their respective timeframes. I will adapt.
IB is good with fills. Although it did die on me from 9:30 to 9:35. But it's something I know that happens CONSISTENTLY. That's why I waited for it to die and come to before I entered my first trade.
I had AT placed right next to IB's booktrader. I attempted to take a trade on AT. I just wasn't able to coz AT wouldn't stop skipping prices. Booktrader was stable and traded through every price. I was able to tape-read again.
I have not decided on what to do with my IF account. I will keep it coz I need it to trade commodities, whenever I'm ready to go live.
I like wheat and soybean.
And, I like Anthony very much.
Switched to 10min and took a trade at the close of the 2nd candle.
What I'm doing is really scanning different instruments and different timeframes (depending on the time of the day and the type of day ie ranging, trending, choppy) for something I recognize. I've studied all the charts over the weekend and drawn in key S & R for 23 charts. So I'm playing levels. Timeframe and type of charts don't matter to me. All of them have been studied for patterns that are fairly reliable in the most recent months. I recognize that at some point in the future (hopefully not too near) these patterns will stop working on their respective timeframes. I will adapt.
IB is good with fills. Although it did die on me from 9:30 to 9:35. But it's something I know that happens CONSISTENTLY. That's why I waited for it to die and come to before I entered my first trade.
I had AT placed right next to IB's booktrader. I attempted to take a trade on AT. I just wasn't able to coz AT wouldn't stop skipping prices. Booktrader was stable and traded through every price. I was able to tape-read again.
I have not decided on what to do with my IF account. I will keep it coz I need it to trade commodities, whenever I'm ready to go live.
I like wheat and soybean.
And, I like Anthony very much.
Today's Trades:
Net PnL : + USD 159
7 comments:
Nice trading Jules!
Thank you, DT :-)
They weren't as nice as they should have been. I kept having to remind myself to stay cool so I can trade. I'm naturally an angry woman :-)
nice trade,
I wanna scalp TF ( have been simulate with good result, but the IB margin is killing me.) Do Infinity had lower margin? It's not like I will run my losses to $5000. Stupid IB
Hi De'Trader :-)
If you're an absolute beginner with limited resources, Infinity is a viable option. But if you scalp, a stable trading platform with good feeds is something you can't overlook. It's really a balancing act here.
That said, if you have $10k, and are not overly aggressive, I'll suggest going with IB (which limits you to trading 1 contract during globex hours of course).
I've come to realize that particular for scalpers (high winning rate is key), putting on size before the necessary experience has been acquired can ruin their account.
If you can make money consistently trading 1 contract, you should in the long run be able to accumulate an amount that you need to increase your contracts. By then, you would also have gained more experience.
In my opinion, it's wise to start small, make a little when you win, and lose a little when you lose. Whenever you have become truly skilled and experienced and have learned to manage your emotions under any circumstances, and when you have built up your account to a comfortable level, and when the market's right for increasing contracts, that would be the right time to put size on. Otherwise, you'll just be trading scared money.
Thanks Jules, nice advice. Do you say IB is more reliable and stable on datafeed? Or you suggest IB because it limit us with 1 contract only? Because it's quite annoying if our resource can be used to scalp options like I do these days :). You know with cash account our buying power limited to our current capital that day.My account will do okay with 2 contracts, and that's maximum amount I wanna trade (I love partial profit :))
I think I will stick to IB for a while.
Oh, is there significant difference between sim and real on IB? cause I am doing fine in SIM.tks again
I'm using Transact feed actually, De'Trader. And IB's trading platform. Yes, IB's platform is definitely more stable. Important to me coz I scalp :-)
Sorry De'Trader, forgot your 2nd question.
I hardly use IB's SIM, so I'm not able to tell. Anyway, my issue is with fills so Sim trading won't help me find out anything.
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