My Trading Quest - Profitability in 90 days!

Eresults MTG

Member
62 7
DAY 11 – Apex Sniper Trading Bootcamp – More Testing and Learning …

Another day in a market that was slow and didn’t give many setups … but still enough!

Actions I took:
  • Watched another live webinar
  • Watched the live market and the commentary during the first 150 mins of the market open
  • Reviewed the potential trades for Friday
Live Trade Room and Commentary

With the speed of the market being slower, more time was spent on questions, reinforcing lessons form the market and the webinars along with trade calls.

Friday Potential Trades

Friday was another slow day but full of lessons. The slow days test your discipline.
Again, on review on the day’s trades I identified some trades that I may have taken live which were not valid. This highlights that I need more practice on both a static chart and with Market Replay using a fast speed to help my decision making reflections.

Identifying the trade is easy but seeing the reasons not to enter can sometimes be harder.

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.
 

Eresults MTG

Member
62 7
DAY 12 – Apex Sniper Trading Bootcamp – Review Day …

Time to review where I am currently at, in the challenge.

Actions I took:
  • Reviewed my current status with the course to see if I am on track to meeting my goals
  • Reviewed the 6:3 Apex Rule
Current Status

I am happy with my progress, having gone through:

  • all the online videos
  • updating with the weekly webinars
  • learning the setups and rules around entering and not entering
  • daily review of possible trades
  • peer to peer review of my daily review
  • sim trading for 1 day to check that the process works
Apex Investing

Generally, I am very happy with the course and Apex Investing.

Best Features:

  • The sniper setups appear to work (still to test in the live market)
  • There are plenty of people in the community who will answer any questions or give you advice or how to find out the answer
  • Apex team are very knowledgeable and want to help and make the information more understandable
Possible Improvements:

  • The Bootcamp Sniper Training page has all the information and links for the course. It could be simplified and reordered to make it easier to follow.
  • The course is evolving due to the market and Apex trying to simplify it for new people. This comes across as Apex changing things too often. They are only small changes but it can put you off. I find that they are just clarifying things to help the students
  • When the moderators are in the trade room it can get confusing for the new people, as some of the trades are not sniper trades.
  • If you miss the moderated room time then you will often miss great nuances to help you trade. I record the sessions so I don’t miss these gold nuggets.
What has held my progress up?

The biggest area that I have been slow to learn has been around when not to enter a trade especially around some types of chop. I have completed several other courses, but I find that in this course it is more important than in the others.

Am I on Track to my Goal?

At this time I see that I am on track to profitability within 90 days.

Review of the 6:3 Money Management Rule

The 6:3 ratio means that on any given day you can only lose 6 net trades and win 3 net trades before you stop trading. Apex state that is highly improbable to lose 6 net trades.

Too many people keep trading and don’t know when to stop.

Net 3 winners

This idea is based on wanting you to be profitable for 3 months before you start increasing your contracts. They also suggest that you withdraw 50% of your profit weekly.

If you trade ES with an 8 tick target the that means:

3 net winners = $12.50 x 8 = $100 x 3 trades = $300 per day minus commission.

Weekly = $300 x 5 = $1,500 – commission

Monthly = $1,500 x 4 = $6,000 – commission

Net 6 Losers

Again, If you trade ES with an 8 tick target the that means:

6 net losers= $12.50 x 8 = -$100 x 6 trades = -$600 per day plus commission.

Comment based on my Backtesting Results:

I like the idea of having the rule to stop trading. I have not seen any loss of 3 trades which resulted in 3 net losses. The only time this would occur would be if mistakes were made. So based on these results I will stop trading if 3 net trades occur on any 1 day. This will then allow me to identify and fix any problem before I lose too much financial or mental capital.

The idea of stopping when I make 3 net winners means that I will achieve my original goal and limit the risk of overtrading.


I will report back tomorrow on my progress and any lessons I learn

Disclaimer

I am not affiliated with any of these companies.
 

Eresults MTG

Member
62 7
DAY 13 + 14 – Apex Sniper Trading Bootcamp – Testing and Focus …

Time to test my skills and focus to improve.

Actions I took:

  • Market Replay Testing to observe where I need to improve my skills
  • Daily Practice of identifying the trades for the day
Market Replay Testing

The purpose of the Market Replay testing is to identify if I currently have the skills to trade profitably at the speed of the market.

The results identified one main area that I need improvement:

  • The main skill is identifying a certain type of chop. I will create an indicator to flag the chop and that should help a lot
Sunday + Monday Potential Trades

I identified 11 valid trades of which 10 were winners.

Of the three types of trades (Enhanced, Trend, and Divergence), Five trades were Divergence trades.

[IMG]



I will report back tomorrow on my progress and any lessons I learn

Disclaimer

I am not affiliated with any of these companies.
 

Eresults MTG

Member
62 7
DAY 15 – Apex Sniper Trading Bootcamp – Daily Review …

ES had a good day and NQ starting to deliver good signals!

Actions I took:
  • Good learning in the live trading room at US Open
  • Created and tested chop indicator – still some mods to do
  • Reviewed the potential trades for Tuesday

Live Trade Room and Commentary

Darrell was late to the room and Lori shared her experience with the room.

Tuesday Potential Trades

The ES had some slow periods bit still would be a profitable day..




I will report back tomorrow on my progress and any lessons I learn

Disclaimer

I am not affiliated with any of these companies.
 

Faust88

Newbie
2 0
Hey Garry,

thanks for sharing your results of the trial with us. I have never heard of Apex before.

How subjective is the approach from your experience ? Does the guy who operate the trading room post live trades or is it the usual coulda whoulda shoulda stuff you have in most trading rooms, i.e. pointing out the winners after the fact and then coming up with all kinds of explanations as to why the unprofitable trades should never have been taken as xyz were not valid etc etc ?

Thanks
 

Eresults MTG

Member
62 7
Hey Garry,

thanks for sharing your results of the trial with us. I have never heard of Apex before.

How subjective is the approach from your experience ? Does the guy who operate the trading room post live trades or is it the usual coulda whoulda shoulda stuff you have in most trading rooms, i.e. pointing out the winners after the fact and then coming up with all kinds of explanations as to why the unprofitable trades should never have been taken as xyz were not valid etc etc ?

Thanks
Hi Faust88,

The trading room calls vary due to the speed of the market. I generally find that the calls are called with sufficient time for the listener to enter when the market is not too fast. Most of the calls are called clearly but sometimes not as clear.

A lot of the traders take the trades and make their 3 and done.

From a beginner I would not immediately go into the room until you learn the rules. Then I would not take any of the trades until I was confident they meet the rules of the setups.

Three types of calls are made:

1. Trades that meet the rules
2. Trades based on the rules but may not fully meet the rules and are based on other factors not taught yet.
3. These calls are called audible calls and may not reflect the trade setups in the course.

Darrell, uses these to make excellent profit in front of the traders in the room.

As a new trader this can be a little confusing as some of it is outside the course.

The benefit is that you can follow the calls and make good $$ and learn some extra lessons by listening in the room and asking questions.

Cheers
Garry
 

Eresults MTG

Member
62 7
DAY 16- Apex Sniper Trading Bootcamp – Daily Review …

ES had another good day!

Actions I took:

  • Good learning in the live trading room at US Open
  • Reviewed the potential trades for Wednesday
  • Continued using Market Replay to improve my live market decision making for the live market
Live Trade Room and Commentary

The US open started slow but some good trades could be made. Avoiding News was critical.

Wednesday Potential Trades

The ES could have been a profitable day as long as you followed the rules.

The following is the legend for the trades sheet:

[IMG]

[IMG]



I will report back tomorrow on my progress and any lessons I learn

Disclaimer

I am not affiliated with any of these companies.
 
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Eresults MTG

Member
62 7
DAY 17- Apex Sniper Trading Bootcamp – Daily Review …

Not the best day for ES!

Actions I took:

  • Good learning in the live trading room at US Open – Lori shared some great lessons
  • Continued using Market Replay to improve my live market decision making for the live market
  • Reviewed the potential trades for Thursday
Live Trade Room and Commentary

ES gave a lot of opportunities to lose money.

NQ is trading well during the US trading session. Some people are starting to trade more NQ then ES. I will continue with ES and from Monday, I will start recording the Potential Trades for NQ as well as ES.

Market Replay Lessons

Have your trading plan in front of you when you trade. This may sound common sense but I see a lot of people who are taking trades that are not valid trades. Just because it wins doesn’t mean it was a valid trade and can create bad habits.

After, listening in the live trade room it is easy to want to take other trades that I have not tested and fully trust.

This was a problem for me today when I started my Market Replay! I stopped and clarified the trade setups I was using and took ownership of that. After that, it was easier to focus on my trading and I stopped making silly mistakes if, in doubt, I referred to my setup notes for confirmation.

Thursday ES Potential Trades

This is one of the lowest ES profitable trade day lists that I have tracked.

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.
 

Eresults MTG

Member
62 7
DAY 18- Apex Sniper Trading Bootcamp – Daily Review …

An interesting day for ES and NQ still giving good signals.

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 Friday
Live Trade Room and Commentary

I believe the live trading room with commentary and calling trades good for some people but distracting for others. Some of the knowledge shared in the room is very useful and would help me to learn quicker.

I fall into the bracket of being distracted and I don’t want trades called for me. So the question is, how do I get the knowledge that is shared in the room?

I have tried recording the session and because the talking is not continuous can be over 2 or more hours, it isn’t practical to review it every day.

So I believe the best way is if I record it and then convert it to text. I could skim the text in 10 mins and see what is useful and what is not. There are some free and paid programs. The paid ones can work out expensive so I am looking for one that is free or low price to achieve this. So far I have not found a program that does a good job.

If anyone can suggest a program that will convert either audio or video/audio to text, I would appreciate it.

Market Replay Lessons


Again, the Market Reply reinforced some items I need to focus on.

Friday ES Potential Trades

Two losses in a row!!

Remember, the tracking sheet is of all trades that I identified for the day. The plan is to have 3 Profitable Net Trades or 3 Losing Net Trades then quit for the day.

I also showed my tracking of MFE (Maximum Favorable Excursion) for each trade. This is an important statistic that I use to allow me to make an informed decision to vary my profit target.

In simple terms, MFE is how far the trade moves in a profitable direction.

You will also notice a comment “stopped must have been placed in the correct place”. In this trade, the long entry bar was sitting on a paw (line) that was 1 tick below the low of the bar. The normal stop would be placed 1 tick below the setup bar. Unless the order print (in this case the paw) was below the low. Then you would place the stop 1 tick below the paw (correct placement).

In the case price came back to the paw and if you had your stop in the correct place (1 tick below the paw) you would not have been taken out.

The following is the legend for the trades sheet:

[IMG]

[IMG]



I will report back tomorrow on my progress and any lessons I learn

Disclaimer

I am not affiliated with any of these companies.
 

jeffre5

Junior member
32 4
Why have you felt the need to go on several sites posting your journal??
 

Eresults MTG

Member
62 7
Hi jeffre5,

When I first started I didn't know if anyone would read or be interested so I looked to see which forum might be.

This is a learning project for me. The input from readers help me focus and learn. Some forums don't give input, some have great input and some like to just put the concept down. So far, I have learned a lot from this input and would not have received it if I had not posted on a couple of sites. Interesting a lot of the feedback/advice comes via PM's!

Cheers
Garry
 
Last edited:

Eresults MTG

Member
62 7
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.
 

Faust88

Newbie
2 0
It will be interesting to see how the live sim trading develops. Trading micro eminis might also be an option later on if you have confidence in the system.

Btw., is this system a black box ? Would one be able to trade the system without their software / could one replicate the signals ?

I would not want to be dependant on a specific software in the long term because what happens if the service closes down/ the software isn't updated etc.

Well, I might try them out in May, appart from wasting my time I see no risk trying them out during the free trail periode
 

Eresults MTG

Member
62 7
It will be interesting to see how the live sim trading develops. Trading micro eminis might also be an option later on if you have confidence in the system.

Btw., is this system a black box ? Would one be able to trade the system without their software / could one replicate the signals ?

I would not want to be dependant on a specific software in the long term because what happens if the service closes down/ the software isn't updated etc.

Well, I might try them out in May, appart from wasting my time I see no risk trying them out during the free trail periode
Hi Faust88,

I am not sure why to trade micros? If you have sufficient funds then mini's are the way to go.

A possible better alternative is use funding and that way you protect your capital with very low cost.

They do teach both Micro and mini's. Basically the same but just with a couple of minor adjustments.

Also if you see a trade setup on micro, you can take it on mini or the opposite.

Inititally, I would have classed this as a black box, but as I see more it would appear that they explain the workings behind the indicators. I am not sure they explain everything.

As I find out more about the inner workings of the indicators I will keep everyone updated in my posts.

Cheers
Garry
 

Eresults MTG

Member
62 7
Hi jameks,

The whole idea of this project was to find a company I could trust and then see if I could be profitable with their method.

In the first few posts I documented that.

The industry is full of great companies and alot ... not so!

In my quest, I talked to a lot of people and did research to see if what the company tells us is true. Some of the "big" companies perform the worst on many levels. Some of the smaller companies give more personal support. Some of the big ones don't even answer emails!!!

Do I think this may be a good options?

In my research I found that I could trust the company, the system appeared to work, support was good,they were continually trying to improve the system to help the student and the cost to try was unbelievable. So, after all the ones I reviewed it appeared to be a good option ... thus the challenge.

No company is perfect!

From the results to date this looks promising. The only way to tell is in a live market and with real money.

I am not at that stage yet, but as I transition to Live Sim I will have a better idea.

Thanks for the questions.

Cheers
Garry
 
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