E-Mini S&P500 - 2.50 Points Points WTI Crude Oil - 15 Ticks Gold - 15 Ticks
(150) (Contracts Trading) (3) = DLL
DLL * 3 = Sim trade rest of week.
If these conditions are met you are done trading for the day:
Two process violations in a row.
Chasing a bad trade.
Putting on a trade sub-consciously with no thought more than once.
This is the rules and plan that are designed to help recover from a period of draw-down or DLL. They are to be enacted:
After a DLL day.
After a 5R trailing draw-down has been hit.
During draw down mode:
No scalps/momo setups.
No Adv RPB
All trades must have both the thesis and intraday context valid.
Clean IPBs and RPBs of DVA only. No fading extremes.
Trade ideas can only be given 2 shots.
Draw down mode is to be in effect until you have re-couped those losses and doubled them. For example you DLL with 2 lots. That's $600 loss so you need to make $1200 to get out of draw down mode.