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New Futures Trader
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New Futures Trader

  #1 (permalink)
Elite Member
Pittsburgh Pennsylvania
 
Futures Experience: Beginner
Platform: Sierra Chart
Broker/Data: Infinity Futures
Favorite Futures: NQ ES
 
Posts: 341 since Oct 2015
Thanks: 3,140 given, 990 received

New Futures Trader

Hello everyone! My name is Chronos24(Long story) or call me Matt and I have been trading the Forex market for two years. Live and Demo
I am not yet profitable I have good months and bad months.
I would describe myself as a Jack of all trades and a master of none.

I have had great mentors in the field that all trade differently. Professional Binary option traders, Forex Scalpers, and Fundamental swing traders. I have learned very much from them, I have yet to find my own niche or style that is overall profitable.

That is why I joined the forums here, I am looking to trade futures and see how I can do with it.

I've been currently sim trading the ES NQ and TF, I also like the correlations between the Dollar index and Bonds.

I am a big fan of Price action, and my first love is Ichimoku.
Trading in the Zone is one of my favorite books.

Any information you guys want to give me I am looking forward to.

I'm interested in Risk on and Risk off in the futures markets.

Great to be here!

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  #2 (permalink)
Quick Summary
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Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.

 
  #3 (permalink)
Elite Member
Pittsburgh Pennsylvania
 
Futures Experience: Beginner
Platform: Sierra Chart
Broker/Data: Infinity Futures
Favorite Futures: NQ ES
 
Posts: 341 since Oct 2015
Thanks: 3,140 given, 990 received

Intro


Thank you so much for the reply, you make some very good points. They made me think out what I'm doing.

My strategy for this month and next is to trade Break out Pull backs with the trend on the 5 minute or 1000 volume time frame. Taking profit at Swing points or deviation of the VWAP. I ideally want a 1 to 1 trade or better but that is up to what the market is willing to give me. I also plan to factor in correlated pairs with my trading decisions. Stop loss's will be behind the wicks or swing points.

I am willing to lose $200 a day to make $200 a day. I will be concentrated on good trades and not the $ amount.

The type of trading I described is what I'm best at. I'm going to add in a 15 minute or 60 minute chart to see the bigger picture to confirm what I'm seeing on the lower time frame, I'll have to experiment with it a bit.

In forex you can follow the 8 central banks for releases and what not, When it comes to earning reports on Futures I am lost. I use FINVIZ.com - Stock Screener to see groups of futures and see real time earnings reports but it's not as clear as Forex for me.

I use Financial Juice with their free squawk so I don't trade when something crazy is happening.

The hardest part for me is sticking to one strategy. That is my biggest problem. I'll start a trading journal on sim in the next few weeks and then hopefully a live journal.

I liked the article on expectancy of a trade as well, good information.

I'm sure I'm missing some points I wanted to talk about but it's late, Thank you .

I wanted to add an example the ES seems to lead the NQ and TF that's how I'm going to use it in my trading.
http://www.screencast.com/users/Chronos24/folders/Jing/media/bf5e9ccc-da21-45a3-8852-d74f2699bafa you can see in the screen shot they seem to work together. I will study it more.

http://www.screencast.com/users/Chronos24/folders/Jing/media/5c98a586-2ad8-477e-87dd-6d46944dbe77 That is a picture of my demo account but I'm not happy with it, it was a combination of scalps and swings and the scalps would cost me more than I wanted to spend.

Going to start the strategy I talked about above in the next few days.


Last edited by Chronos24; November 8th, 2015 at 11:22 PM. Reason: Added more information.
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  #4 (permalink)
Elite Member
Wiltshire, United Kingdom
 
Futures Experience: Beginner
Platform: Tradovate, Jigsaw Tools
Favorite Futures: US Treasuries
 
matthew28's Avatar
 
Posts: 443 since Sep 2013
Thanks: 510 given, 548 received

The Bloomberg/Econoday Calendar is good for knowing what to be aware of during the day. Be careful around the red star events and when important Fed people are speaking, such as 'Janet Yellen Speaks'. If you look at the Depth of Market (DOM) you will see the majority of Bids and Offers get pulled out of the book shortly before an important release.
Economic Calendar - Bloomberg

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The following user says Thank You to matthew28 for this post:
 
  #5 (permalink)
Elite Member
Pittsburgh Pennsylvania
 
Futures Experience: Beginner
Platform: Sierra Chart
Broker/Data: Infinity Futures
Favorite Futures: NQ ES
 
Posts: 341 since Oct 2015
Thanks: 3,140 given, 990 received

Thank you

Thank you for giving me a link to the calendar it will be useful

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  #6 (permalink)
Elite Member
Pittsburgh Pennsylvania
 
Futures Experience: Beginner
Platform: Sierra Chart
Broker/Data: Infinity Futures
Favorite Futures: NQ ES
 
Posts: 341 since Oct 2015
Thanks: 3,140 given, 990 received

Updates

Finally got some time to trade today. Hit my goal of 10 ticks then took another for 6.

2015-11-11_1039 - Chronos24's library

It's a winning day but I have much to work on. I'm really loving sierra chart.
When I get more time today I'll start up a journal in the journal section.


Last edited by Chronos24; November 11th, 2015 at 11:48 AM. Reason: Grammar.
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