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graham
Recently, I was invited to a small meeting at a prominent Australian prop firm. This firm has trained and funded hundreds (possibly thousands) of successful Futures traders over the last decade. They later adapted to become the largest Crypto Prop Shop in the world during the BitMEX heydays. These industry leaders know what it takes [...]
Prices go up, and prices go down. Traders, algorithms, market makers, investors are monitoring for entry points, exit points, risk to open positions, size for new positions, spread from other markets, and it goes on. There is an endless cascade of money making strategies all related by the data they depend on. The actual execution [...]
The Delta Volume feature is used for identifying Buying and Selling imbalances in the order flow. It uses the Auto Mode algorithm to monitor the Volume Delta for extremes in Selling and Buying pressure (as opposed to accumulated total volume). When toggled to Delta Volume (1) – Auto Volume, and Volume in Time modes will [...]
In future posts we will be hearing from Michael Barrett who continued long into his Prop Trading career, winding up as head mentor for new traders at a major prop firm in Sydney, alongside a profitable trading career of nearly a decade. Before we go there, here are takeaways from the original interview we did [...]
In closing we discuss how to move forward from the Prop Trading drills and automated trading. The exercises completed so far should help you grasp probabilities in trading and in determining the outcome of individual trades i.e. you don’t know which trades will be your winners and losers. You can also scale this understanding to [...]
In a world of auto spread trading (auto-spreaders), systematic arbitrage and automated market making, nearly all markets are being traded against each other in one way or another. For discretionary traders, the sooner you can broaden your market perspective to consider the price action and order flow trading across asset classes (related markets) the better [...]
Mark Douglas in the renowned trading psychology book ‘Trading In The Zone’ treated a broad range of trading issues with a simple systematic trading exercise. In his Path to Consistency Workshop, he discusses the details of the systematic trading exercise and the purpose behind it. While trading psychology is like going down the rabbit hole [...]
In this trading exercise, for just one or two trading session try and LOSE as many ticks as possible based on short term order flow and price swings (and not just crossing the inside market spread). You might surprise yourself and find that your win to loss ratio plateaus at some point. This will [...]
In this exercise you are going to build a position by averaging in. What this means is that you are getting long or short using multiple orders, and your average entry price may change with each fill. Averaging In Trading Drill Goal The game here is to build a 10 lot position in the market [...]