Scalping: 3LZZ DSR

[Jhx]

57 to go.

This week had a few examples of a 'flatter' SMA. It seems that those are the tougher days, entries don't run much. Seems difficult to know real time when it's going to be a more 'ranging' day. Still good for grabbing 1:1s!

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[Jhx]

52 to go.

No new observations on this one I think, other than using the SMA as a bias seems good. I'm seeing zlines where price bounces off in a lot of candles, so following the SMA bias would keep me from going nuts on every move

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[Jhx]

Today I traded my session. Total was just a bit below 1R due to spread/commission, so all good. 3 wins 2 losses.

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[Jhx]

I'm going to fund a small $100 account to trade 0.01 to get more 'skin in the game', as I was only trading demo before. This will force me take it more seriously and keep myself on track.

I've also started making a spreadsheet to track all the trade's stats and gather data, using the current trades and the 100 sessions worth of data. The plan is to continue doing that every day after each session. I'm going to track:
- Amount of wins
- Amount of losses
- Profit potential of each trade (if it got to 1, 2, or 3)

That way I'll see if it's better to target 1R, 2R, or 3R. For now I'm targetting 1R. What I'm thinking is "how much" data is relevant for day trading this type of scalps, meaning for example, if 100 sessions is too much or too little, or if it's enough. Maybe there's some sort of sweetspot for using these stats.

The only downside of trading 0.01 is that I can't change my position size to adjust the risk to each trade (I've calculated that I'd need to risk around $10 per trade on GU to properly adjust the microlots for these trades). Over the long run it might be similar, I'm not sure. But for now this 0.01 per trade will have to do.

[Jhx]

I finished charting andgathering the stats for the last 100 sessions. My eyes are completely fried but I did it. 100 sessions, 409 trades, average of 4 trades per 4h session.

I ran stats for 1R, 2R and 3R for each trade (I'll keep doing 1:1s because I think it's slightly better and it suits me better psychologically I think). It was quite some legwork but hopefully it's useful.

The hitrate for 1:1s was 72.6%! (according to the way I see these zlines). I know it was done with the benefit of hindsight but I tried to be as fair as I could, if the order didn't get triggered or a TP missed by a point and hit the SL I would mark that up. But I have to start somewhere to learn how to study these charts

[aliassmith]

I finished charting andgathering the stats for the last 100 sessions. My eyes are completely fried but I did it. 100 sessions, 409 trades, average of 4 trades per 4h session.

I ran stats for 1R, 2R and 3R for each trade (I'll keep doing 1:1s because I think it's slightly better and it suits me better psychologically I think). It was quite some legwork but hopefully it's useful.

The hitrate for 1:1s was 72.6%! (according to the way I see these zlines). I know it was done with the benefit of hindsight but I tried to be as fair as I could, if the order didn't get triggered or a TP missed by a point and hit the SL I would mark that up. But I have to start somewhere to learn how to study these charts

This exercise has given you some personal insight. Definitely better than me just telling you things. As you can see if you learn to execute in live markets and risk .5% per trade you can average 10% a month which is enough to get cash from prop.

[Jhx]

First live trading day. As I can't adjust position size I'm also going to be tracking the net pips.

GU_071920222_ZLentry_Live.png (160.88 KiB) Viewed 1671 times

+6.5 (1R)
+4.1 (0.5R) -> That trade was an execution mistake though. Price was below the SMA but the SMA was still pointing up, so as soon as I realized that I exited. The entry worked to the pip anyway but still a mistake.
+7.5 (1R)

I also missed the long for +9.5. I don't think there's a specific reason why I didn't take it. Maybe had the momentum candle closed higher I would have probably taken it, but I saw it retrace within that candle and I felt uneasy taking the long there.

Total +18.1

The SMA was a bit flat throughout the session, but still worked overall. Ranging days are the ones that seem tougher I think, but the entries still work for small scalps.

[Jhx]

The main thing I want to keep an eye on to improve is SL placement. It's sometimes the difference between a winning and a losing trade.
Not too wide, not too tight. It's always an extreme of one of the previous candles, but picking it is discretionary. I suppose that's a skill.

Another thing that I noticed after finishing the 1:1 stats was that I don't need to have a 72.6% witrate. With 1:1s I can do less than that and still be profitable. I think this way so I'm not discouraged if the winrate ends up lower.

Today I'll start to manually backtest (bar by bar) random dates between the sessions I charted to get used to the PA and how the entries and charts look.

[Jhx]

I finished charting andgathering the stats for the last 100 sessions. My eyes are completely fried but I did it. 100 sessions, 409 trades, average of 4 trades per 4h session.

I ran stats for 1R, 2R and 3R for each trade (I'll keep doing 1:1s because I think it's slightly better and it suits me better psychologically I think). It was quite some legwork but hopefully it's useful.

The hitrate for 1:1s was 72.6%! (according to the way I see these zlines). I know it was done with the benefit of hindsight but I tried to be as fair as I could, if the order didn't get triggered or a TP missed by a point and hit the SL I would mark that up. But I have to start somewhere to learn how to study these charts

This exercise has given you some personal insight. Definitely better than me just telling you things. As you can see if you learn to execute in live markets and risk .5% per trade you can average 10% a month which is enough to get cash from prop.

Thanks alias. Learning to execute is my priority now .

I don't want to get ahead of myself because I have a long way to go still lol, but by getting cash from prop, you mean FTMO or things of that sort?

[Yirbu]

The main thing I want to keep an eye on to improve is SL placement. It's sometimes the difference between a winning and a losing trade.
Not too wide, not too tight. It's always an extreme of one of the previous candles, but picking it is discretionary. I suppose that's a skill.

Another thing that I noticed after finishing the 1:1 stats was that I don't need to have a 72.6% witrate. With 1:1s I can do less than that and still be profitable. I think this way so I'm not discouraged if the winrate ends up lower.

Today I'll start to manually backtest (bar by bar) random dates between the sessions I charted to get used to the PA and how the entries and charts look.

Nicely done today! Congrats!
True, we don't need a 72% winrate (we might want to). What also will help is that if we go for 1:1...there will be trades that deliver far more.
Good to see you have some profit.