I registered a couple of months ago. I recently opened an account at Interactive Brokers because I wanted to trade options for cheaper than where is was at. I've been watching Tasty Trades and tried a few trades, but found that the effort/payoff ratio was pretty high there for finding trades. It's okay for getting a little extra points out of your portfolio return, but didn't seem it was worth the effort.
I read a bit about trading the S&P E-Mini and starting trading that. It really opened my eyes to futures. It really seems like the most efficient way to get a decent income from trading. It's also the most efficient way to lost money as I'm sure you all know. I traded a couple of days, made some gains and thought, hey this is easy. Than had a bad day or two where I lost a lot more money than I had made so far. I was down about 20%. I've tried to diversify a bit in to other contracts. Mainly oil (CL), natural gas (NG), and gold (GC). I have wheat, soybeans and corn on my watchlist but I feel like I don't know enough about those markets yet to trade. I figure by keeping my options open I won't make a bad trade on the S&P E-Mini when I can watch other contracts for better opportunities.
I would like to learn more about what moves those contracts. I learned the hard way about trading CL on Wednesday morning through the EIA inventories release for instance. Later on I thought I had a handle on that, only to find out that API sometimes releases the same information the night before, but only to Reuters subscribers. So the price move I was expecting didn't happen. I know about the Baker Hughes rig count on Mondays. I'm wondering what else I'm missing (obviously OPEC meetings).
I find I made my best gains by trading NG and CL overnight. That avoids the large surprise moves during the NY trading session. Though sometimes (like today) I blow up on a bad (bored) move during the day. I had a bad case of FOMO when I saw NG rising from 3.100 to 3.300 and went long at the turnaround. Oops.
Anyway, that's it for now. Hope to post more.
The following user says Thank You to midlifecrisis for this post:
Been trading since 2003, a hobby trader (IRS terminology), mostly self taught with seminars and webinars and books and hard cold CASH. Still not a dedicated part of my day nor am I consistently profitable. Tough lessons, these. Scalping now after years of trying swing and position, Pivot and S&R, even some long term attempts.
Seems scalping fits my personality and ability to stay focused.
I know SUCCESS can't happen alone, that emotions trump technicals (at least for me), and that a forum like this is where I need to be. THANK YOU to each of you.
I will be deploying a robot this year, emini S&P, and I have joined this Elite group to continue forward with some support and guidance and experience of others trying to make a living in this sometimes brutal world of trading.
Even as I write this, the market is on another screen reacting to Trump's address - and my platform can't keep up... !
Looking forward to tomorrow's webinar on the "Advantages and Disadvantages of Dedicated Trading Servers".
I know Amazon has VPN's as does Genesis (Trade Navigator) - but this is all I know at this point.
Will scalp robotically, low daily profit, and, over time, increase lot size to make low daily become livable daily, then outright freedom to retire.
Man's first got to dream, and then put in place the steps toward fulfilling that.
Hola, Estoy aprendiendo el comercio solo diez meses, y estoy probando para encontrar mi estilo de trading y practicar para encontrar la consistencia, no tengo prisa ya que me gusta el mundo de los mercados financieros.
Espero ir aprendiendo poco a poco y aportando en todo lo que pueda, soy español no se casi ingles así que con el traductor de google me ayudo. Un saludo muchas gracias.
Hello, I am learning the trade only ten months, and I am trying to find my trading style and practice to find consistency, I am not in a hurry since I like the world of financial markets.
I hope to learn little by little and contribute in everything I can, I am Spanish, I do not know English, so I used to help with the Google translator. Greetings, thank you very much. : Stickyman:
Been reading some threads awhile back since last July on futures.io
Have been trading HSI and DAX futures, and just recently my trading mate keeps pointing back to this forum.
So I have been involved in demoing TST recently and may be attempting the combine anytime in a near date.
Wish to learn more about what goes on in futures trading as i found I have no account, so i thought i make one and get myself involved in the community and get some feedback in the process.
If there is anything you need to point out or have an opinion just let me know and thanks all for reading.
Hi I'm Yannis from Greece.
I used to trade futures with MF Global and their collapse was a shock to me.
I stopped for some years and now I'm back!
I want to start trading with "Futuresonline" and I want your opinions.
A quote from Anna Coulling about Binary Options: "In addition, you are also trading an instrument with a fixed risk, fixed reward profile which flies in the face of the mathematics of trading returns. Whilst the limited risk aspect of the binary option is very appealing, trading all the time using such an approach is doomed to failure in the longer term." She has a book out called "Binary Options Umasked" which you might want to take a look at. I haven't read it, so can't say how good it is, but I have read her VPA and Forex books, which I found pretty helpful.
I took a brief look Binary Options recently, and came to the same conclusions as Anna. A brief example: Let's say you have a win ratio of 50% and make 4 trades. You risk $100 each time, and the typical return ratio is 75% if you win. You win 2 x $75=$150 on 2 trades and lose 2 x $100=$200 on 2, so you have a net loss of $50. Let's say I trade looking for a minimum return of 4/1 - so I only enter trades if I see a set up for a minimum of 4/1. I also have a win ratio of 50%, risk $100 on each trade with my protective stop, and assume I make an average of 4/1 on my winners. I win 2 x $400(average) = $800, I lose 2 x $100 = $200, net profit $600.
Another quick example. On the night of the US elections, the markets were rising expecting a Hillary Clinton victory. At about 2am EST Donald Trump won Ohio, and the markets realised that the unexpected could happen. Fear set in, and over the next 2 hours the markets plummeted. Let's say you took out a binary option on the ES risking $100 for a 75% return at 2am, betting that the market would be down in 2 hours time. You were right, so you win $75. Another trader trades 1 short position on the ES, using a protective stop at the correct time that risks $100. The ES fell over 100 points in the next 2 hours. That trader trails the market down with their protective stop, and at some point they are stopped out at let's conservatively say 50 points. That's 50 X $50 = $2,500.
Hope this helps, but do some more research. I'm still struggling to be profitable too, but hope to get there soon with some of the great advice offered on this site, especially about discipline.
I go by repete @ Stage 5,@2pete on twitter I am a futures trader, I specialize in NQ and started trading as equities trader in 1998
Blew up my account, oversizing as a day trade in QCOM when either a fmoc or a news event occurred , not even knowing what econ ,news releases were. and no idea why my csco would open higher or lower in the morning, or what futures were.
After sept 11,2001 I took a break from trading until 2009 at the bottom decided to get back involved,
I learned why my equities opened higher or lower even in pre market trading, via the futures index market of derivative,s.
All thing,s that took us to the bottom in 2009 cds, off the book derivatives, cross swaps, ect ect.
I went to chicago and attended seminars , futures trading conventions, and learned the players and how they thought and teached trading.
After going through Linda Raschke, Fari Hamzi, and ton,s of chat rooms, I ended up hearing in a webinar at Fari,s a guy name FT 71, what a name eh.
He has after 7 years has been my mentor along with his Partner Anthony Giacomin and following them from Vancar to Stage 5 trading I have found my home.
I have have a trading coach, and you know what we don't talk about is ? TRADING
This is a game about yourself, learn yourself and you will by default learn the market, Am I a successful trader?
Well I have not blown up my account yet, I and my coach believe if you can not trade a sim account as you would live, you have no business in this business.
Generate a plan, or in my case a hypothesis for your product I generate 3 or 4 each morning, and follow your plan, Take your stops, outliers even in sim account destroy accounts