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Trading Futures from Australia
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Trading Futures from Australia

  #1 (permalink)
Normal Wizard
Sydney, NSW, Australia
 
Futures Experience: Intermediate
Platform: NinjaTrader with Jigsaw DOM
Favorite Futures: CL, 6E, ES, Piano
 
TickedOff's Avatar
 
Posts: 191 since Nov 2014
Thanks: 163 given, 195 received

Trading Futures from Australia

Hello folks, I'm a little green with futures trading and was wondering what products I should trade? I am thinking maybe 6A, 6J, NKD because those should move nicely during the Asian session, and maybe US fixed income (10yr) during the European session. I would trade the bund except that isnt permitted during the TopStepTrader combine, something I am aiming to do once I feel I have some trading consistency (their backed traders can after 10 days I think). Im not too sure about trading the Nikkei because of high commissions. I am an active intratday trader, I used to just use charts but now I am learning how to read the order flow (I use jigsaw on ninjatrader), I do around 20 trades per day although I am prone to overtrading and can do a lot more.

Apart from commissions and volatility, is there anything else I should consider?

Edit: I should have made it clear, I am an ASPIRING intraday trader lol. I am honing my skills on a demo, I am not a consistently profitable trader but I think I am close (around breakeven, my overtrading is wiping my profits).


Last edited by TickedOff; November 18th, 2014 at 08:54 PM.
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  #2 (permalink)
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  #3 (permalink)
Elite Member
Brisbane, Queensland, Australia
 
Futures Experience: Advanced
Platform: NT8/JIGSAW
Broker/Data: MacQuarie Futures/AMP Clearing/CQG
Favorite Futures: ZB/FGBL/GC/CL/HG/6J/6M/6B/FDAX/NQ
 
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TickedOff View Post
Hello folks, I'm a little green with futures trading and was wondering what products I should trade? I am thinking maybe 6A, 6J, NKD because those should move nicely during the Asian session, and maybe US fixed income (10yr) during the European session. I would trade the bund except that isnt permitted during the TopStepTrader combine, something I am aiming to do once I feel I have some trading consistency (their backed traders can after 10 days I think). Im not too sure about trading the Nikkei because of high commissions. I am an active intratday trader, I used to just use charts but now I am learning how to read the order flow (I use jigsaw on ninjatrader), I do around 20 trades per day although I am prone to overtrading and can do a lot more.

Apart from commissions and volatility, is there anything else I should consider?

Why do you need TopStepTrader, you've got Propex (the real deal) right there in Sydney? Get your track record together and go see them.

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  #4 (permalink)
Normal Wizard
Sydney, NSW, Australia
 
Futures Experience: Intermediate
Platform: NinjaTrader with Jigsaw DOM
Favorite Futures: CL, 6E, ES, Piano
 
TickedOff's Avatar
 
Posts: 191 since Nov 2014
Thanks: 163 given, 195 received

I gave them a shot, applied as a trainee trader but did not get past the interview stage. I don't have a track record, I am still pretty new to trading I' m working on my skills on demo accounts. I think that if I can eliminate my overtrading I would be consistently profitable right now I am just wiping all my profits impulse trading. Learning to tape read should also help me fine tune my entries and exits, I have a good idea of where I want to get in and out based on s/r on charts on my trades and I would be using tape reading as confirmation, when I get good maybe I can do trades purely based off reads. They are focused on spread trading (this is what their trainees are initially taught, they have a wide range of traders however), but I prefer directional trading, I don't see the need for spreading when I can get in and out of trades in a snap as a small daytrader and my risk is well defined before I get into a trade. As for a track record most of the experienced traders who apply there are already known to the guys at propex and they have several years under their belts. Is there any particular reason you would advocate propex over topsteptrader? With topstep I start out with 80% profit share, I'm not sure what sort of size they can back me with but on their site its up to 20 lots after you make 10k with their 150k combine, probably more if you prove your worth. Their equity partner, patak trading partners, is a prop firm and member of CME so they should be able to provide a lot more buying power.


Last edited by TickedOff; November 18th, 2014 at 09:12 PM.
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