Hello @Plasticman6. It is extraordinarily difficult to carry backtested results forward. The quality of backtests, due to database inefficiencies and errors in rule based logic, can generate many, many false positive returns. I encourage you to forward test the strategy and run it in simulation for an extended period before attempting to run this, or any, strategy live in production.
Best of luck-
If you have any questions about the products or services provided, please send me a Private Message or use the futures.io "Ask Me Anything" thread
I am a trader pro since 20 years by now, I have start 25 years ago with stock options , forex and futures.
I do think that indicators are useless until you start to know yourself...
And money management is the key of success, you cannot trade in the same way the future market or forex with the same amount of capital.
The following user says Thank You to thetrader789 for this post:
I started trading a year back, i trade in india. i use futures and options combined to hedge and to take advantage of special situations and make some buck. i am a part time trader. i use 5 min charts. i don't use indicators. i also use the market data and test several strategies by using R and python. I have found that indicators just indicate, trading basing on them is very dangerous, Its all in the context of where we are in the market.
my motivation for trading: is there anything more interesting than trading?? i love trading and love it to the core. i can trade all the day everyday. After a lot of soul searching i found trading and my target in life is to become a great trader thats it. Right now in rat race and very soon (< 1 year) quitting it.
my setup: a system with a candle chart interval 5min, 15min, 60 min, daily. i look for breakout and resistance.
my fav books: market micro structure by larry harris.
The following user says Thank You to knsh for this post:
Glad to be part of community. I was trading for quiet long time mainly Stocks and Options.
Recently decided to get into trading futures.
I'm only focusing on CL at this point. Trying to be proficient in one set up for one security before making next move.
Appreciate everyone feedback.
I've been trading futures for less than a year. I decided to give it a try after beating my head against the wall repeatedly on equities and, especially, trying to sell premium. I like the liquidity and leverage of the /ES and /NQ products. I recently completed a market profile five week intensive with Jim Dalton, which was a terrific experience.
It's a funny thing - I grew up on a farm in southern Minnesota, where we raised corn, soybeans, hogs and chickens. My dad hedged all the time on the Board of Trade. Unfortunately, he also had a taste for speculation, and lost gobs of money in the process. Looking back on that, how could he have possibly won, placing phone orders on a party-line during the lunch hour. The spreads had to have been wide as the Mississippi river. I sometimes wonder how he would have done with today's market access and tools. He was a smart man, and at least the odds wouldn't have been stacked so high against him.
I am delighted to have discovered this site. It's especially fascinating to see members from so many different places, here in the US and around the world.
At this point I am looking to migrate some of my capital from TD Ameritrade to a futures-oriented brokerage.I've been making do with the monkey bars market profile tools on TOS, but I'm looking for something more robust.
I look forward to learning as much as I can here, and to contributing what I can in the future.
First researched about the markets when I was 23 and my roommate introduced me to it. It was weird hearing the word "Bullish" and thought it sounded strange. I've been self-taught with a few FB groups here and there. Just got into Futures trading about 2yrs ago. I'm almost over a huge learning curve with a trading formula attached to positive expectancy. Just need screen time and discipline. Came here to check out other's charts and codes for personalized indicators. Those are my favs. Hope to contribute as we all grow, ever the students.