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Account been approved! Going to have my first day of tradingthis week LA
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Account been approved! Going to have my first day of tradingthis week LA

  #21 (permalink)
Membership Temporarily Revoked
Toronto
 
Futures Experience: Beginner
Platform: Sierra
Broker/Data: MB
Favorite Futures: ES
 
Posts: 313 since Jun 2013
Thanks: 182 given, 58 received

i JUST read your trading journal


asiaexpat View Post
you have been in sim for 5 weeks--i assume with profit---why should you change anything? only thing i would do is pay very close attention to your emotional state while trading real money--and whether that emotional state causes you to veer away from your trading plan.--

good luck

Asia

I just read your trading journal, You are only one step ahead of me. How much time did you spend in SIM before you started trading live?

You have to take your sim experience seriously: I ahve been in sim for 5weeks, every single day making very extensive notes on every single trade
  • I adjusted my SIM account from 50,000 to a realistic $2900.00
  • I trade using the same system I did with stocks
  • I pretended it was for real....when I made a bad trade, I was disappointed
  • I even deducted commissions fees from every trade.
When you are in the armed forces, you practice manouvers with the Miles Laser System (kinda like laser tag but on real M16s)....but you dont goof around, you pretend you are on an actual mission - even though there are no bullets. Everything has to replicated as if it were real life.


if I fukked up in SIM, I would NEVER trade for real (as greedy as I am).

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  #22 (permalink)
Elite Member
Bangkok
 
Futures Experience: Beginner
Platform: NT
Broker/Data: IB/IB,Mirus Futures/Zen-Fire, AMP/CQG
Favorite Futures: CL,YM, TF
 
Posts: 127 since Feb 2013
Thanks: 23 given, 49 received


budfox View Post
Recently lost $500 on bad trade (stocks) .

I could go back in the market and it wouldnt affect me.

so long as I learnt why I lost it.

I'm mature I can handle my emotions like a real man.

Seeing some tiny profit on the sim.....made 150 yesterday and 23 the day before that.....

my strength is I know how to place stops and can cut my losses quick - I'm not one of those fools who sit there and watch his trade go the other way dreaming about it "turning around" .

LIke I said, I dont know much.....but I wont rest until I am successful at the ES. Even if that means reading/watching every article/video on technical analysis and reliable patterns.

So Asia, how long have you been trading the ES for?

Thanks for giving me practical advice.

i assumed that you were consistantly profitable in sim.

I don't trade ES. I trade CL and YM.

I trade mostly in SIM as I try to fine tune my strategy and plan. I do take live trades when I see a setup that I really feel confident about--and for me that means scalping within ranges and channels. 3-4-5 ticks and the occasional runner. Around 11:30 AM NY CL tends to slow down and form nice patterns that fall into my sweet spot for trading I and can often reel off 10-15 consecutive small winners.

I was a little like you at first--did a little sim and then jumped right into ES--got creamed and now I take a much more professional and realistic approach. One of my weaknesses is overtrading --at least in SIM.

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  #23 (permalink)
Membership Temporarily Revoked
Toronto
 
Futures Experience: Beginner
Platform: Sierra
Broker/Data: MB
Favorite Futures: ES
 
Posts: 313 since Jun 2013
Thanks: 182 given, 58 received



asiaexpat View Post

I was a little like you at first--did a little sim and then jumped right into ES--got creamed and now I take a much more professional and realistic approach. One of my weaknesses is overtrading --at least in SIM.

OK great, do you know why you got creamed?

impulsive?

not placing the stops properly?

What patterns did you see in the bad trades?

Just so I/we can get more educated (learn from other mistakes).

Also how long we're you trading in sim for? and what was your performance in Sim like compared to Live?

Thanks

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  #24 (permalink)
Elite Member
Bangkok
 
Futures Experience: Beginner
Platform: NT
Broker/Data: IB/IB,Mirus Futures/Zen-Fire, AMP/CQG
Favorite Futures: CL,YM, TF
 
Posts: 127 since Feb 2013
Thanks: 23 given, 49 received


budfox View Post
Asia

I just read your trading journal, You are only one step ahead of me. How much time did you spend in SIM before you started trading live?

You have to take your sim experience seriously: I ahve been in sim for 5weeks, every single day making very extensive notes on every single trade
  • I adjusted my SIM account from 50,000 to a realistic $2900.00
  • I trade using the same system I did with stocks
  • I pretended it was for real....when I made a bad trade, I was disappointed
  • I even deducted commissions fees from every trade.
When you are in the armed forces, you practice manouvers with the Miles Laser System (kinda like laser tag but on real M16s)....but you dont goof around, you pretend you are on an actual mission - even though there are no bullets. Everything has to replicated as if it were real life.


if I fukked up in SIM, I would NEVER trade for real (as greedy as I am).

Hey-

I spent about 3 days sim before I went live

Now I'm back in SIM but do make lives trades as previously noted.

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  #25 (permalink)
Elite Member
Bangkok
 
Futures Experience: Beginner
Platform: NT
Broker/Data: IB/IB,Mirus Futures/Zen-Fire, AMP/CQG
Favorite Futures: CL,YM, TF
 
Posts: 127 since Feb 2013
Thanks: 23 given, 49 received


budfox View Post
OK great, do you know why you got creamed?

impulsive?

not placing the stops properly?

What patterns did you see in the bad trades?

Just so I/we can get more educated (learn from other mistakes).

Also how long we're you trading in sim for? and what was your performance in Sim like compared to Live?

Thanks

I do bad in volatile markets--stops can get spiked out in the blink of an eye--and my risk tolerance doesn't allow for big stops.

My stats very clearly show that I do better ( in fact profitable) in premarket and the times between NY 11:30 AM --1:00 PM--i stop after that anyway cause thats 1:00 AM in my timezone.
But I am in no hurry to go live again full time --I will practice and fine tune and learn, learn, learn, same charts-same indicators-day in and day out-- testing a few indicators--blah blah--- and I will conquer

edited--when i say i will conquer--not the markets--but myself

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  #26 (permalink)
Elite Member
Georgia, US
 
Futures Experience: None
Platform: Various
Favorite Futures: Various
 
josh's Avatar
 
Posts: 4,897 since Jan 2011
Thanks: 5,143 given, 11,242 received


budfox View Post
LIke I said, I dont know much.....but I wont rest until I am successful at the ES.

That is a great resilient attitude....


budfox View Post
Even if that means reading/watching every article/video on technical analysis and reliable patterns.

....and while learning by reading/video can be helpful in some ways, ultimately that won't create success. I'm not sure why I'm even posting about this but good luck with the trading budfox.

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The following user says Thank You to josh for this post:
 
  #27 (permalink)
User requested to be banned
Orlando, Florida
 
Futures Experience: None
Platform: shoes
Favorite Futures: happy
 
GaryD's Avatar
 
Posts: 6,462 since May 2011
Thanks: 2,090 given, 5,026 received


budfox View Post
What you mean by outside edge?

so if I think it will hit 1680.75.......I should set my order to 80.50 to make sure I get filled?

ES will more often then not move foward two steps, back one. Not literally ""two" and "one" as in ticks or points, that is up to you to figure out

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  #28 (permalink)
Elite Member
Cedar Rapids, iowa
 
Futures Experience: Intermediate
Platform: Ninjatrader
Broker/Data: Ninjatrader - Continuum
Favorite Futures: 6E, TF, 6J
 
Tasker_182's Avatar
 
Posts: 626 since Aug 2009
Thanks: 426 given, 1,126 received

I sincerely wish you the best of luck.

"Money is better than poverty, if only for financial reasons." - Woody Allen
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  #29 (permalink)
Membership Temporarily Revoked
Toronto
 
Futures Experience: Beginner
Platform: Sierra
Broker/Data: MB
Favorite Futures: ES
 
Posts: 313 since Jun 2013
Thanks: 182 given, 58 received


josh View Post
That is a great resilient attitude....



....and while learning by reading/video can be helpful in some ways, ultimately that won't create success. I'm not sure why I'm even posting about this but good luck with the trading budfox.

What will create success?

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  #30 (permalink)
Membership Temporarily Revoked
Toronto
 
Futures Experience: Beginner
Platform: Sierra
Broker/Data: MB
Favorite Futures: ES
 
Posts: 313 since Jun 2013
Thanks: 182 given, 58 received



josh View Post
That is a great resilient attitude....



....and while learning by reading/video can be helpful in some ways, ultimately that won't create success. I'm not sure why I'm even posting about this but good luck with the trading budfox.

Josh how long you been trading the ES for?

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