I'm in the UK and I've been dabbling in trading a good few years now. Last few months I've been able to focus full time on my trading and (I think) things are finally coming together!
At the moment I focus on trading 6B GBP futures. I trade intraday using price action and Volume Spread Analysis. I also like to look at the occasional point and figure chart. And I draw a few fibs from time to time.
I use Multicharts for charting (found this forum while researching Multicharts) with zenfire data.
Looking forward to learning more from all the good folk here, I'm particularly interested to learn about cumulative delta analysis and Market Profile - two big holes in my current knowledge
The following user says Thank You to ifor for this post:
I'd like to share my experience in dabbling into Market Profile with Ifor. A few years back I've spent over an year in studying Market Profile. I went through the CBOT's free MP course a few times. I bought and studied the MP course offered by CISCO. I bought and read every book available on MP. I even subscribed to a daily MP service. Being a PhD myself, MP had a special appeal to me as a seemingly coherent Market theory. Alas, it proved to be just that - a theory. I can't speak for a position trading as I'm gravitating towards day trading of futures exclusively. IMHO it is of absolutely no practical value to a day trader.
Good luck and good trading.
The following user says Thank You to vladyz for this post:
Thank you to Mike for the awesome site, I hope someday to contribute but for now, I'm here to learn. I just noticed the intro thread so, I apologize for not posting sooner.
I have been trading stocks for about 3 years and have been studying futures for the last 3 months. No live trades yet, just alot of reading and playing with Think or swim. I have started putting together a trading plan and will open a live account soon. Just trying to decide what platform/broker to use as my current broker does not offer futures and it seems that we are limited in Canada ....
Would love to chat with other newbies along the way and share "growing pains" of this business.
You can trade both stocks and futures. US$10,000 to open an account. Poor customer service.
2. AMP Futures
I believe US$2,000 or US$2,500 to open an account. Trade futures only. $400 margin requirement for most futures. Reasonable commission fees (not the most economical). Free data from ZenFire.
3. Mirus Futures
US$2,500 to open an account. Trade futures only. $500 margin requirement for most futures. Commission fees less expensive than AMP (not substantial) and slightly more expensive than IB. Free data from ZenFire.
4. Global Futures
The broker did not honor his verbal offer on certain futures' commission fee + I do not like their trading platform. I only tried one though.
I'm using IB and Mirus. Based on my communication with AMP and Mirus, I've found the AMP rep was more responsive. Sincerely hope that the above may help. Good luck!
Good Trading is about Trading Right!
Want What the Market Wants!
Trade With the Trend!
The following 3 users say Thank You to wgreenie for this post:
Hello to everyone. I'm brand new to this forum, but it looks like a friendly, helpful one.
I'm on old dog (65), but I've been looking for the holy grail for 47 years now. I think that says something either about me or the elusive grail. I have backtested 1000's of systems that I have programmed in older languages. Most worked for awhile, then failed. But I'm always looking.
I am currently trading the EMini S&P 500 Futures. I use Zumo (Farr Financial) for their low commission ($3.30 per R.T.) and their clean and nice-looking Firetip trading platform. (However Firetip has some bugs every now and then.)
I am basically a scalper. I use 480- and 240-Tick charts and MACD(6,10,3) as my main indicator. I also use a 30-minute chart with MACD(6,10,3). I go with the trend of the 30-minute MACD, using the 480-Tick MACD to Enter and the 240-Tick to Exit.
Results have been fantastic for 82 trading days now. Trading just 2 contracts has averaged + $371 Net per day. I keep waiting for the strategy to fail, but so far, so good.
I have backtested (the best I could in programming in EasyLanguage) this in TradeStation. But the results for a year were not nearly as good as what I do in real life. However, the results did show a nice profit. The difference in results occurred because I was unable to program the way I actually trade vs. what I programmed into Trade Station. I haven't been able to Enter off the 480-Tick chart, then Exit off the 240-Tick chart. So my results on TradeStation were for only the 480-Tick chart. I'm still trying to learn how to transfer Global variables. (But like I said earlier, I'm an old dog.)
I hope to learn more from this forum. Maybe I can even contribute to help others. Thanks to all.
The following 5 users say Thank You to bobbakerr for this post: