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 [...]
In this exercise you aim to be always in the market. This is directly in contrast to the previous exercise, as you are going to need to have a directional bias at all times, and to best manage your position based on your bias. Trading Drill Goal Have a position in the market for [...]
The goal of this trading drill is to be flexible in your market bias and to make the most of current trading conditions under pressure. You will need a timer and a coin and the same setup as in Exercise #1, which is one DOM with just the Bid and Offer depth listed, and trades accumulating [...]
Trading naked is a benchmark trading exercise that you can look back on to see how your entries and exits improve as you progress through the exercises, gain experience, and learn from your mistakes. Have just a single DOM window open for your chosen market with only the market depth bids and offers displayed, and use [...]
You will need a trading platform that contains a Depth of Market (DOM) / Orderbook window for point and click trading. We are going to take all other trading tools out of the equation during the trading exercises. In short, this is because when faced with the uncertainty of using information you see in your [...]
Introduction to Prop Shop Trading ExercisesIf you were to join a Proprietary Trading firm starter program you might be surprised to find out that you they won’t teach you ‘the’ strategy they use for making money. They will instead teach you some foundations of trading – mainly money management, organization and an overview of various [...]
Using PriceSquawk through Jigsaw’s Reconstructed Tape has a number of advantages which will be discussed in this and subsequent blog posts. For those not familiar with the Reconstructed tape (‘Recon tape’) which is included in the Jigsaw Trading Tools package, it is an intelligent Time & Sales tool that exposes the market orders placed by [...]
In this post I will show you how to create your own custom Squawkbox in NinjaTrader which will monitor key order flow events and price action for you, across multiple markets. This will help you anticipate price swings in your traded markets and give you an extra set of eyes when monitoring the order flow [...]
PriceSquawk Auto Mode is a new feature that lets you hear changes in the volume trading without any configuration of PriceSquawk settings. Its as simple as opening a PriceSquawk and listening to the order flow – if new volume is entering the market relative to recent activity in the session, then trade sounds will be [...]
