I am implementing the Trading Drills that Dr Brett posted a few days back on his traderfeed.
Those are three drills: one for a 10 min span. Another for 30 min and one for positional in hours. I have just not implemented the last one because it deals the management of a big position during the intraday and I just have focused in the first two.
The market I’ve been trading is CL, but later on I pretend to extend this drills to simoultaneous markets and I recognize more opportunities.
Today I made one 5min drill with a los of $65 and two 30min trades. Yesterday was a 30 min tryout and profit was $195 (net of everything) and was risking $775. Today’s trade was interesting:
I se two limit orders: one short and another long because the crude seemed pretty quite about 12.20pm CT and I thought that the strategy would be to follow the direction either it was up or down. Market was at 78.35 as I developed to put two limits, one buyer at 78.61 and a seller at 78.04. I give them 30 mins to be filled and they weren’t.
But 1.5 hours later mkt was at 78.81 which would have been an interesting position.
The reason I would put why to follow the uptrend is because my systemd based on the call/put volume, which happens to be a short only signal, has not been active in the last days.
So a drop in price would give me some reward if 30 mins would have been eonough to maitain a low price maybe to buy it back at that very point.
Also I am testing a KC system which I found for my birthday and has been very nice in paper. Since 29G to date the evolution would have been like this: