My Trading Quest - Profitability in 90 days!

Eresults MTG

Member
93 8
DAY 34 – Apex Sniper Trading Bootcamp – Daily Sim Review …

Today is Day Eight of Sim Trading …

Actions I took:

  • Listened to the trading room for the first 120 mins of the US Open
  • Day Eight of Sim Trading
  • Reviewed the potential trades for Friday for ES and NQ.
  • Reviewed the next step to this challenge
The Next Step in the Challenge – Evaluation for Funding

The sim trading has been going well, and if the next couple of days continue to be good then it might be time to put it to the test. I will review it again this weekend. Note next Monday is a US Holiday.

The next step will be to choose and participate in an evaluation with a company that funds traders.

At this time, I intend to start an evaluation either next Tuesday (Monday being a holiday) or the following Monday.

Day Eight of Sim Trading – I only traded NQ

What an interesting day! I decided to trade NQ as it was moving better then ES and I would watch a new setup on ES. That really didn’t work out as ES had a limited number of trades for the setup evaluation.

On the overhand, NQ gave plenty of trades to take.

You may have noticed that some of my trades have different profit and loss values. I have been getting slippage, both positive and negative even in sim!!! So I record whatever the Sim Live results are.

I live sim traded 3 trades:

3 NQ (winners)

Total Profit $155.00.

Trade 1 – NQ Short DR Divergence Profit +$45.00


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Trade 2 – NQ Short Double TX Profit +$50.00

I missed this trade and when I noticed I waited to see if the price action would go to my entry price. When it started heading back down I placed my order at the original price and it took off down.

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Trade 3 – NQ Long TX Trend Profit + $60.00

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The following is the trades from the NT7 Summary Panel

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Potential trades for Wednesday- ES and NQ

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Sim Trade Results Overview

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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
93 8
DAY 35 – Apex Sniper Trading Bootcamp – Daily Sim Review …

Today is Day Nine of Sim Trading …

Actions I took:

  • Listened to the trading room for the first 120 mins of the US Open
  • Listened to the live webinar
  • Day Nine of Sim Trading
  • Reviewed the potential trades for Thursday on ES and NQ.
  • Started looking at funding companies
Day Nine of Sim Trading – I traded both NQ and ES. Heaps of news around the Open.

I live sim traded 5 trades:

  • 2 NQ winners
  • 2 ES winners and 1 BE (-$5.00 commission)
Total Profit $275.00.

Trade 1 – NQ Short TX Range Trade Profit +$45.00


I don’t normally trade this setup, but it was so obvious that I took it.

The trade was bouncing in a nice range and the entry was a TX entry and because it was short from the top of the range it didn’t need DR (trend) with it.

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Trade 2 – NQ Short OD + DR Divergence Trade Profit +$45.00

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Trade 1 – ES Long OD Divergence Profit + $95.00

I didn’t include the first Low with an OD of 17K. Price went up and then made a lower low with an OD of 9334. The bar setup with a TX entry.

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Trade 2 – ES Long Enhanced Trade Profit + $95.00

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Trade 3 – ES Long Enhanced Trade Loss – $5.00

I broke my rules!!

The trade hit the target and then quickly started to move back to the entry price. I moved my stop to the entry price and was filled. Price then continued up above my target.

I understand why I moved it but it was more to do with the recency effect caused by being fully stopped out in a similar trade.

I will review and see if I need to change my trading plan or look at ways to prevent myself from breaking the rules.

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The following is the trades from the NT7 Summary Panel

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Potential trades for Thursday- ES, and NQ

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Sim Trade Results Overview

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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
93 8
DAY 36 – Apex Sniper Trading Bootcamp – Daily Sim Review …

Today is Day Ten of Sim Trading …

Actions I took:

  • Listened to the trading room for the first 120 mins of the US Open
  • Listened to the second live webinar for the week
  • Day Ten of Sim Trading
  • Reviewed the potential trades for Friday on ES and NQ
Day Nine of Sim Trading – I traded both NQ and ES. Heaps of news around the Open.

I live sim traded 10 trades:
  • 3 NQ trades – 2 winners and 1 loss (-$30.00)
  • 7 ES trades – 6 winners and 1 loss (+315.00)
Total Profit $285.00.

Trade 1 – NQ Long DTX Trade Loss -$120.00


Looking back I can see a couple of reasons not to take this trade – hindsight is wonderful.

The trade was valid.

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Trade 2 – Valid NQ Long DTX Trade Profit +$45.00

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Trade 3 – NQ Long OD + DR Divergence Trade Profit +$45.00

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Trade 1 – Valid ES Short Enhanced + Trend Trade Loss -$192.50

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ES Trades 2, 3 and 4

Trade 2 Valid Enhanced Short Trade Profit + $95.00

Trade 3 Valid OD Divergence Long Trade Profit + $95.00

Trade 4 Valid Enhanced Long Trade Profit + $95.00


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Trade 5 Valid OD Divergence Short Trade Profit + $95.00

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Trade 6 Valid Enhanced Long Trade Profit + $32.50

The trade was so slow and bounced backwards and forwards from positive to negative so I moved the target to 32.50. Today was the day before a long weekend and was performing a bit erratic.

Trade 7 Valid Double TX and Trend Short Trade Profit + $95.00

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The following is the trades from the NT7 Summary Panel

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Potential trades for Friday – ES and NQ

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Sim Trade Results Overview

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

Disclaimer

I am not affiliated with any of these companies.
 
Last edited:

Eresults MTG

Member
93 8
DAY 37 + 38 – Apex Sniper Trading Bootcamp – Funded Trading Companies Review …

This weekend is a long weekend in the US …

Actions I took:

  • Reviewed by 10 days of Sim Trading
  • Reviewed a number of Trading Companies who offer funding
  • Continued Market Replay practice
Sim Trade Results Overview

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10 days of Sim Trading is really not long enough to test and prove much. But I consider the results to be good enough for me to move to the next stage of the challenge.

As readers may know from my early post, I am already funded by Topstep Trader. I used my own scalping system to trade the 30 Year Bonds.

This challenge is totally separate from what I do in the TST Funded account.

I reviewed a number of Trading Companies who offer funding if you can pass their testing.

A lot of these companies have so many rules that it seems they really don’t want you to pass. Since the last time I looked at these companies I have noticed a number of the prices and rules have changed.

Some of the Companies I have heard complaints about the traders not getting paid or paid slowly. So I avoided them. I have no proof of any of the stories but have chosen to play safe and avoid.

I am very happy with Topstep Trader but wanted to try another company.

The Company I chose is Leeloo Trading https://www.leelootrading.com/

Basically they only have 3 Rules:

  • Don’t exceed your daily Loss Limit
  • Don’t reach your max drawdown
  • Reach your profit target while illustrating consistency
They base the funding on the number of contracts you can trade. Other companies have a dollar amount you choose to test for.

An example would be TST who have a $50,000 Test option which costs $165 per month

  • Profit Target $3,000 per stage (2 stages)
  • Maximum contract size = 5
  • Daily Loss Limit = $1,000
  • Weekly Loss Limit = $1,000
  • Trailing Max DD = $2,000
  • Other rules including time of day you can trade, etc
  • If you are funded then the split is 80:20
  • And you keep 100% of the first $5,000
  • You can take as long as you want to reach the target as long as you don’t break any of the rules.
  • The minimum time to pass would be 5 days for stage 1 and 10 days for stage 2
This would compare to the Leeloo Account Cost $170 per month
  • Profit Target $3,000
  • Up to 8 contracts
  • $2,500 Max Drawdown based from the High Water Mark
  • No Daily Loss Limit
  • No other rules
  • If you are funded then the split is 80:20
  • And you keep 100% of the first $8,000
  • You can take as long as you want to reach the target as long as you don’t break the DD rule.
  • The minimum time to pass would be 10 days
Apex Investing has chosen Leeloo Trading as a recommended company and currently offer a 15% discount for the first month

So, you can see from the points above, there are a number of good reasons to try Leeloo Trading.

I will explain the $2,500 Max Drawdown in a coming post.


Over the next couple of days I will decide when I will start the Leeloo Test. At this time I believe Tuesday will be start day. I don’t want to start on a slow or low volume day (Day after a long weekend)!



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
93 8
Rising Trailing Max Drawdown Explained

With the Leeloo evaluation, it is critical to understand the "Rising Trailing Max Drawdown"

The (Rising) Trailing Max Drawdown is quantified and termed the Limited Trailing Minimum Account Balance (LTMAB). The max drawdown amount assigned to your particular Evaluation account (example- $2500 for 8 contract account), trails your OPEN equity, intra-trade. (NOT closed profit). It will NEVER stop trailing the highest UNREALIZED profit point of your account throughout the ENTIRE Evaluation.

An Example using the 8 contracts- $2,500 LTMAB):

When you start you can only lose $2500. Assume account balance of $50,000

At this time the account will be closed if the account balance is 50,000 - 2,500 = $47,500

If the first trade goes into profit during the trade eg +$100 is the highest amount in profit, even if the trade ends less or even with a loss. Let us assume you made a $50 profit.

At this point your account balance = 50,000 + 50 = 50,050 and your LTMAB = 50,000 + 100 = 50,100 minus your 2500 = $47,600.

It is always based on the intra-trade high.

Once you pass the evaluation and become funded they stop trailing the DD at just over your initial funded account amount.

You can check this amount at any time on the Rithmic dashboard.

Any questions please let me know.

Cheers
Garry
 

Eresults MTG

Member
93 8
DAY 40 – Apex Sniper Trading Bootcamp – 1st Day of Funding evaluation …

Today is the first day of the Leeloo Funding Evaluation …

Actions I took:

  • Listened to the trading room for the first 30 mins of the US Open
  • Signed up with Leeloo for the evaluation and set it all up
Day 1 of Funding Evaluation

I set up the connections required for Leeloo. It was easy and I was all setup in under 20 minutes.

The setup uses Ninjatrader with Rithmic Trader Pro.

The starting balance was $50,000 with the DD limit of $47,500.

I placed 6 trades:

  • 3 NQ trades – 3 winners (+$135.00)
  • 3 ES trades – 2 winners and 1 loss (+135.00)
Total Profit $270.00.

Trade 1 – NQ Long Divergence Trade (Profit +$45.00)

The trade was valid.

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Trade 2 – Valid NQ Short DTX and Enhanced Trade (Profit +$45.00)

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Trade 3 – NQ Long DTX Trade (Profit +$45.00)

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I did not trade ES as well as I did NQ!

Trade 1 – Valid ES Short Enhanced + Trend Trade (Loss -$5.00)


The trade was a valid trade but I managed it poorly. This was my first trade and I set the profit on the Dom at 10 ticks when it should have been 8.

The trade hit my proper target and then retraced back to the entry and kept bouncing around the entry price. It was like pulling teeth!!! Slooooow. So I moved the stop to BE and was stopped out. As you can see the trade then went to profit +.

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ES Trades 2 and 3

Trade 2 Valid Enhanced LongTrade Profit + $45.00


Again the slow price action affected my judgement and I moved the profit target closer.

Trade 3 Valid Trend ShortTrade Profit + $95.00


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The following is the trades from the NT7 Summary Panel


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Potential trades for Friday – ES and NQ


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Rithmic Overview

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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
93 8
DAY 40 – Apex Sniper Trading Bootcamp – Day 2 of Funding evaluation …

Today is the second day of the Leeloo Funding Evaluation …

Actions I took:

  • Listened to the trading room for the first 60 mins of the US Open
  • Watched Darrell run through a day of trading in the first webinar for the week
  • Traded Day 2
Day 2 of Funding Evaluation

Both markets were fast and NQ appeared to have low liquidity. Traders were having slippage with entering and exiting on NQ.

I decided not to trade NQ and placed 2 trades with ES before the market did some big swings. I watched for a while and decided I had made a profit so why risk it in this type of market. My goal is to pass the funding evaluation and not blow up the account. After reviewing the market after the close, I was happy I stopped trading for the day.

I placed 2 ES trades:

  • 2 ES trades – 2 winners (+190.00)
Total Profit for the Day $190.00

Total Running Profit for the Evaluation = $468.48 (2 days)

Trade 1 – Valid ES Short DTX and Enhanced Trade (Profit +$95.00)


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Trade 2 – Valid ES Short Trend Trade (Profit +$95.00)

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The following is the trades from the NT7 Summary Panel

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Potential trades – ES and NQ

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Stats2.png


Rithmic Overview

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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
93 8
DAY 42 – Apex Sniper Trading Bootcamp – Day 3 of Funding evaluation …

Today is the third day of the Leeloo Funding Evaluation and a crazy market…

Actions I took:
  • Listened to the trading room for the first 120 mins of the US Open
  • Traded Day 3
Day 3 of Funding Evaluation

NQ again had reduced liquidity. Traders were having slippage with entering and exiting on NQ.

ES was fast at times and very slow at other times.

I was trading ES and watching NQ. When the markets are working so differently I find that it can affect my decision making. On days like this, it would be best if I just focus on one market.

The list of potential trades is short. A few possible trades were left off the list as the market was moving too quickly. The list only includes trades I would expect to be able to enter.

I placed 2 ES trades and 1 NQ Trade:

  • 2 ES trades – 2 winners (+190.00)
  • 1 NQ trade – 1 loser (-110.00)
Total Profit for the Day $80.00

Total Running Profit for the Evaluation = $551.66 (3 days)

Trade 1 – Valid ES Long Trend Trade (Profit +$95.00)


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Trade 2 – Valid ES Long Enhanced and Trend Trade (Profit +$95.00)

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Trade 3 – Valid NQ Long Divergence Trade (Loss –$105.00)

The target was hit but not filled and it quickly hit my stop.

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The following is the trades from the NT7 Summary Panel

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Potential trades – ES and NQ

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Rithmic Overview

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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
93 8
DAY 43 – 45 – Apex Sniper Trading Bootcamp – Day 4 of Funding evaluation …

Day 43, Today is the fourth day of the Leeloo Funding Evaluation …

Actions I took:

  • Listened to the trading room for the first 120 mins of the US Open
  • Traded very badly on Day 4
  • Rested on Day 44 and 45
Day 4 of Funding Evaluation –Knowing when to quit and when to push

Day 4 was Friday and I did everything wrong.
So let’s start from the beginning and see what lessons I can learn …

I am embarrassed to tell this story … but it helps me to go through it so I won’t do it again.

Every now and again I suffer from those lovely migraines where you lose your vision and then you have a really a bad headache for a number of days or more!! So Friday was my second in a week.

My vision came back in time for me to trade. So I assumed I could work through the headache to trade.

When I started to trade I was feeling fatigued but knew I would be fine.

I had forgotten to listen to Kenny Rogers song “know when to hold them and know when to fold them”

Lesson 1: Do not trade when fatigued, sick, or not at your best.

NQ again had reduced liquidity. Traders were having slippage with entering and exiting on NQ.

Both markets ranged in speed but could have been traded successfully.

I was trading ES and watching NQ.

Chop Trades

One of the lessons I have learned with this system and with ES (Not NQ), was when a certain type of chop forms on the chart then I do not trade in, out or back into that chop. Apex has a saying you need to take probability trades NOT possibility trades. Entering these trades can be profitable but they are a possibility NOT a probability trade. I often had problems seeing the chop when I was doing market replay and had improved to not trade those trades. I even created an indicator so I could see that chop easier.

In the image of the first three trades, you will see blue boxes(2) around the chop zones I have mentioned. Also, in the third section from the bottom, you will see red blocks (3) which is my chop indicator.

Lesson 2: If you have problems identifying chop then make sure you have all your facilities working when you are trading

Trade 1
NOT VALID ES Long DTX Trade (Loss -$217.50)

I did not notice the chop to the left of the entry. Rule: do not trade into the chop

Trade 2NOT VALID ES Long Enhanced Trade (Profit +$95.00)

I did not notice the chop to the left of the entry. Rule: do not trade into the chop

Trade 3 – NOT VALID ES Long DTX and Enhanced Trade (Loss -$217.50)

I did not notice the chop to the left of the entry. Rule: do not trade into the chop

Lack of focus and being fatigued!!

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After the mess of the first three trades, I realized my mistakes. But not the root cause!!

So I kept trading …

Trade 4 – Valid ES Long Enhanced and Divergence Trade (Profit +$95.00)

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Trade 5 – Valid ES Long Divergence Trade (Profit-$57.50)

The trade was a long where the 18K and arrow is.

I entered 1 tick above the bar … but somehow entered short!?! When I noticed I exited … for a profit.

There is a saying about: if life hits you with a stick and you don’t listen, then it will hit you with a 4 x 2, and then if you don’t listen it will hit you with a truck (or something like that).

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At this point, I am down -$172.50 and fatigued, knowing I can make 1 more profitable trade!! So I wait about 80 minutes for the next trade!

Trade 6 – NOT VALID ES Long DTX Trade (Loss -$217.50)

You can see from the image, I repeated the mistake again.

Rule: do not trade into the chop or when you are not 100% well!

Total for the Day:


6 Trades, 3 wins, 3 loss with a Loss of -$411.14

The next 2 days I relaxed so I am ready for a better week.

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The following is the trades from the NT7 Summary Panel

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Potential trades – ES and NQ

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Rithmic Overview

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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
93 8
I am having the rest of the week off to help me recover from the migraines,
 

Eresults MTG

Member
93 8
Apex Sniper Trading Bootcamp – “I’m Back!” …

After a period of cluster migraines and headaches, I am back to continue my challenge …

Health Update:

After consistent and endless migraines where I lose my vision and then when it returns I am left with a bad headache, I am happy to say it has been over 9 days since my last migraine and 4 days since my last headache. All medical tests have given me a green light.

I have not been able to trade due to my associated vision issues!!

So where to now:

I was 45 days through my challenge and have approximately 45 days off from trading. 90 Days!!!

As I have not been trading, my thoughts are that I will spend the next week reviewing, catching up on Apex Trading videos and sim trading. After which I will have 30 days to complete my challenge to be profitable and then review where to go from there.

At this time I will only trade ES. This will allow me to ease back into trading and screen time.

Actions I took today:

  • Listened to the trading room but found it annoyed my head (too early .. I think!)
  • Traded 1 trade in Sim … profitable
  • Reviewed the market from open on Sun until close on Monday to identify trades I thought were valid trades on ES
Potential ES Trades

It was a strange day in the ES market and I didn’t see any valid trades I would take from 5:30am until 14:25.

The profitable trade I took in sim was at 5:32am.

Maybe that was my time away from the market!

I did see 6 valid trades for the period from open Sunday until close Monday.

To help me get my form back I will start recording on my spreadsheet all potential trades even if I do not consider them valid so I can record why I chose not to enter them. I just need to sort out how best I will record it.

Resources

I have decided to add a section on resources that I have found to be useful.

The first is the new series of 3 minute coaching videos by Brett Steenbarger.




Potential trades – ES

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

Disclaimer

I am not affiliated with any of these companies.

Cheers
Garry
 

Eresults MTG

Member
93 8
Apex Sniper Trading Bootcamp – Challenge Countdown – 36 Days …

It is surprising how quickly you lose your edge after having time away from the market!

Actions I took today:
  • Traded 1 trade-in Sim … profitable 🙂
  • Reviewed the market from open on Monday until close on Tuesday to identify trades I thought were valid trades on ES
Potential ES Trades

ES performed well, providing many setups for entry.

The profitable trade I took in sim was at 7:20 am.

The trade was a Long entry ETX and DTX setup.

Just to recap what the setup was:

The ETX Setup can be seen at the bottom of the entry bar (reversal) with the Green box and the blue solid square in it. The ETX also requires 2 other setups. One is the orange inside the box has an orange line extending right (Paw) and the second is the white line below the paw which is already existing, before the setup bar and continues right.

The DTX Setup is simply a double TX (Green box and the blue solid square in it) which occurs at a similar price level within 30 bars.

The green line in the bottom window shows that a DTX is forming/has formed.

If you do the sums you will see my profit was $ 100 – commission. (1 contract)

I did not record several DTX trades as they occurred in the coil chop. As I wasn’t sure of the rules around the coil chop and DTX I left them out of the stats. I did notice that most of them were profitable.

I will review the videos and notes to clarify this for tomorrow.

Slippage Question

Some people ask about slippage in the live market … I find as long as the liquidity is good on the bar then it is rare for me to have slippage on ES. This is more important on NQ as it often has low liquidity on the bar and slippage in and/or out can be a problem


LWR_Recording.png


Potential trades – ES



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
93 8
Apex Sniper Trading Bootcamp – Challenge Countdown – 35 Days …

Still finding my feet …

Actions I took today:
  • Traded 1 trade-in Sim … Breakeven – commission
    :)
    :cry:
  • Reviewed the market to identify trades I thought were valid trades on ES
  • Reviewed my rules

Potential ES Trades

Plenty of News today. My rule is to not trade 5 minutes before or after news and open of markets

ES performed OK considering and provided 8 valid setups for entry.

On the spreadsheet below you will see that I identified 9 trades not 8.

The first trade was a trade I would have taken but actually was not a valid trade. I had my chart zoomed in too far and did not notice that the price action was in a range. My entry would have been in the middle of the range. My solution to prevent this is to first have my chart zoomed out more then I did or have a second zoomed out chart so I can see the bigger picture. Secondly, I need to remember to look left before I take a trade.

Sim Trade

The trade I took in sim was at 7:23 am.

The trade was a Long entry TX-T and TD setup.

Just to recap what the setup was:

The TX-T Setup can be seen at the bottom of the entry bar (reversal) with the Green box and the blue solid square in it. The “-T” means that it is with the trend. The trend can be seen below as a green histogram.

The TD Setup can be seen by the 3 colored faces below the bar previous to the setup bar.

How did I crash this trade?

The trade was very slow-moving and it moved to the 7 ticks (official target) two bars after entry before moving back to below the entry. I tried to drag the target on the chart, from 8 ticks to 7 … when I let it go, it took me out at entry!!!!!

As you can see, the price then went up over 12 points.

My mistake …



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Potential trades – ES

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Resources:

One of the podcasts that I enjoy listening to is called The Trading Coach Podcast by Akil Stokes.

I do not follow his trading methodology but enjoy his concepts on his coaching podcast.

They can be found on a heap of podcast sites or on Youtube.


https://anchor.fm/thetradingcoachpodcast



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
93 8
Apex Sniper Trading Bootcamp – Challenge Countdown – 34 Days …

Interesting day and good learning …

Actions I took today:
  • Traded 1 trade in Sim … to profit
  • Reviewed the market to identify trades I thought were valid trades on ES
  • Listened and learned in the Trading Room about trailing stops and going for larger targets

Trading Room

As my head is still tender and it affects my focus, I spent most of the trading session (3 hours) listening and watching Darrell explain how to trail stops and go for larger targets. He used an additional chart which he calls a simplicity chart.

Darrell and a number of people in the room had great success using this method. Darrell trades using multiple contracts and was up $22,000 in less than 20 mins using this method. Note, Darrell often trades with between 2 and 30 contracts so don’t get lost with the $$. The lesson to me is that he has faith in the method to risk the contracts he trades and it appeared to work for others in the room. I then need to learn the method (simple) and test it to see if I can make it work for me.

I will not spend time incorporating this method in my trading until I am consistently profitable with the scalper setups and targets. It definitely looks like it has promise.


Potential ES Trades

ES provided 16 valid setups for entry. 4 were losers!!

Sim Trade

The one trade I took in sim was at 11:13 am.

The trade was a Short entry ETX-T.


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Potential trades – ES



Resources:

Watch this space for more resources that I find useful.

I will include books, articles, podcasts, interviews, videos, hypnosis/meditation audios, mental exercises, and more …


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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