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Seeking for advice - Beginner - EMini ES
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Seeking for advice - Beginner - EMini ES

  #11 (permalink)
Pecs, Hungary
 
Trading Experience: Beginner
Platform: Tradestation
Favorite Futures: ES, CL, GC
 
Posts: 14 since Jun 2018
Thanks: 7 given, 9 received

Thanks cory.

How did you get these tables? Ninjatrader?

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  #12 (permalink)
Boise, Idaho/USA
 
Trading Experience: Advanced
Platform: Ninja Trader
Broker/Data: IB, NinjaTrader Brokerage, Schwab
Favorite Futures: TF, ES
 
Posts: 105 since Sep 2014
Thanks: 23 given, 162 received

Don't listen too much to all of us. We each have our own methods and bias. It is a part of the journey we must all take to become a good trader. We all want you to succeed, but we are not you so while what we say is with the best of intentions, only you can determine if it will work in your own world.

I am old, here is a bit of song from a band I followed when I was young- (Songwriters: Jerome J. Garcia / Robert C. Hunter)

There is a road, no simple highway
Between the dawn and the dark of night
And if you go no one may follow
That path is for your steps alone


If you want to see how someone else does what you are talking about he puts up a free YouTube four evenings a week. He trades the ES with one moving average and some trend lines hitting reversals, with an automatic two point stop. Only difference is he uses the 2,000 tick chart. By the way, I don't get toxic fills. Yes, my entry can slip a tick or so but part of the issue is trying to get the trade off (operator slowness) I have very little problem with bad fills on the profit stops and stop loss in the ES. But that is automated and my place in the que is secured the split second I enter the trade. So Mack has been doing what he does for years with no change to his methods. Plenty of doubters that come and go on these forums but they never seem to post results. Not saying discussion is bad, but I am saying there are lots of opinions voiced on this board that are not supported by data. You know the quote about the difference between theory and practice. There are lots of active frauds selling expensive trading advice and the folks on this board do a good job of taking them down, but Mack is not a fraud. Main issue is folks assuming risk reward is the same thing as win loss. It takes both to calculate expectancy. So for those that say you can't make money with a two point stop and a 1 point profit exit I say yes very correct if you are on a random entry. But if you are hitting a good entry 80% of the time or better, well that is not the same thing. By the way he also urges people to sim trade until they figure it out. That is excellent advice. When you go live something happens with your brain and it messes up your performance for a while, until it decides trading is boring. Check out the videos all tilted Lear How to Trade with Price Action and the date. Here is a recent one. https://www.youtube.com/watch?v=ZovL_3jKLBA

Also, simplify your life and download Fat Tails (all his stuff starts with ana in the title) opening range indicator. You can turn off opening range and just leave the overnight high and low on your chart all labeled and everything.

Personally I am in the audience every morning for Morad's before the open free briefing. Now he is a different style but once again pure price action with just VWAP and the Median price on the chart along with a volume profile. Five days a week a half hour before the open on You-Tube as FuturesTrader 71 Trader Byte. He is all about identifying possible support and resistance areas for reversals. https://www.youtube.com/watch?v=nGqWv_gY_0Q He is respected around this forum and has been doing the exact same thing for years. Very much like Mack. Of course he would love to have your account at his brokerage but the daily videos are free and open to all.

So to sum up many have made what you are doing work. There are several who do formal education. It is not an overnight learning curve. Many who are succeeding with this style of trading are less visible here because they are no longer looking for indicators and methods. Good luck.

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  #13 (permalink)
Birmingham, United Kingdom
 
Trading Experience: Beginner
 
Posts: 2 since Dec 2018
Thanks: 0 given, 1 received


Sorry to jump in on this thread, but on the previous page it was suggested that trading for 6 months on a simulator would be good advice.

Can anyone point me towards a provider that would allow you to do this without risking real money, please?

Many thanks,

UH

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  #14 (permalink)
Market Wizard
Quebec
 
Trading Experience: Intermediate
Platform: NinjaTrader wt Rancho Dinero's profiling tools
Broker/Data: AMP/CQG
Favorite Futures: ES, NQ, YM
 
trendisyourfriend's Avatar
 
Posts: 3,852 since Oct 2009
Thanks: 3,413 given, 4,853 received


urbanhermit View Post
Sorry to jump in on this thread, but on the previous page it was suggested that trading for 6 months on a simulator would be good advice.

Can anyone point me towards a provider that would allow you to do this without risking real money, please?

Many thanks,

UH

https://www.cmegroup.com/trading_tools/simulator

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  #15 (permalink)
Los Angels
 
Trading Experience: Intermediate
Platform: TradeStation
Favorite Futures: Emini ES
 
Posts: 60 since Aug 2018
Thanks: 61 given, 39 received


urbanhermit View Post
Sorry to jump in on this thread, but on the previous page it was suggested that trading for 6 months on a simulator would be good advice.

Can anyone point me towards a provider that would allow you to do this without risking real money, please?

Many thanks,

UH


I use TradeStation for real time simulated trading (no money at risk). They give you $1,000,000.00 in Simulator money. I'm not sure how similar it is to real time live for slippage and fill quantity. I do notice that some simulated orders take longer to fill than other (maybe 1-2 seconds longer).

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  #16 (permalink)
Vancouver Island, Canada
 
Trading Experience: Advanced
Platform: T4, IB, TD Ameritrade
Broker/Data: Stage5
Favorite Futures: ES CL RTY Stocks
 
Posts: 57 since Nov 2013
Thanks: 159 given, 116 received

Question: by trading the ES you are stepping into one of the most competitive products out there and going up against some serious pros who make a ton of money... so why trade in that market (auction)?
Why not start in a different product, and specialize in that one? YM, RTY, quick come to mind.

Lastly, donít trade real $$ until you have a solid track record of CORRECT AND PLANNED execution in sim trading. Say 100 trades. And then be aware it all changes when your own money is on the line



Sent using the futures.io mobile app

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  #17 (permalink)
Birmingham, United Kingdom
 
Trading Experience: Beginner
 
Posts: 2 since Dec 2018
Thanks: 0 given, 1 received


SidewalkAerobics View Post
I use TradeStation for real time simulated trading (no money at risk). They give you $1,000,000.00 in Simulator money. I'm not sure how similar it is to real time live for slippage and fill quantity. I do notice that some simulated orders take longer to fill than other (maybe 1-2 seconds longer).

I appreciate you taking the time to come back to me - thank you.

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  #18 (permalink)
Legendary Market Wizard
Wiltshire, United Kingdom
 
Trading Experience: Beginner
Platform: Jigsaw daytradr
Favorite Futures: US Equity Index Futures
 
matthew28's Avatar
 
Posts: 665 since Sep 2013
Thanks: 1,260 given, 1,068 received


Sharon9999 View Post
Thanks cory.

How did you get these tables? Ninjatrader?

Not Cory, but yes those are NinjaTrader DOMs, Depth of Markets. (Just in case you haven't found out already, )

Trading, ideally structured, is a vehicle for expanding consciousness, not damaging it. - Brett Steenbarger
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  #19 (permalink)
Tampa, FL/USA
 
Trading Experience: Intermediate
Platform: TradingView
Favorite Futures: NQ, ES
 
Comeback King's Avatar
 
Posts: 257 since Aug 2016
Thanks: 183 given, 350 received

I would echo most comments that you should not trade real money until you can successfully build a plan and trade that plan in a simulated environment for a period of time. Many have said 6 months and that seems reasonable. However long it is, understand that if you can do that you will still struggle trading live, it's just different.

I would advise staying away from gurus and anyone telling you that you can make money quickly, easily, with little effort, by trading a few hours each day or claims to have a very high rate of return. Stay away from Twitter. Before you buy anything check the trading reviews and vendors section and thoroughly vet anyone selling something.

Understand that the process of developing takes years at a minimum. Understand that you may never trade profitably, there is no guarantee of success no matter how hard you try and no matter how much time and effort you devote to this. You will encounter feelings of frustration and hopelessness and these will be very intense at times. It will be as if you are walking through the desert, you will see an oasis only to find that it was a mirage. This will happen over and over and over again.

There are a lot of webinars available here, you should watch them. You should probably go to the vendor review section and check out many of the scammers. There is usually a pattern to these and you should learn to quickly recognize this so you stay away. You will be tempted over and over to seek these people out because you will be suffering and you will look for a quick fix, an easy solution. You'll have put it an enormous amount of work only to be at yet another dead end and it won't seem fair at all. You will be vulnerable and easy prey for the scammers. You'll need to do things in advance to try to protect yourself.

And since you're pretty new, I'd suggest checking out Adam H. Grimes' trading course. Adam has done several webinars here and is a good resource. The course is free and will give you a good basis for your trading journey. You might not have too many bad habits to unlearn.

Lastly I'd suggest that you check out other markets. Not right away but eventually as you develop. I'm personally drawn to the ES like a moth to a flame but you may have a different experience. Different markets have different personalities and you should try to fit your personality to a market. Also explore different time frames for trading. This might mean 1 minute, 5 minute, 15 minute, etc. or it might mean various volume or range settings.

Those are my thoughts. Good luck, you're definitely going to need it.

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  #20 (permalink)
Legendary the coin hunter
virginia
 
Trading Experience: Intermediate
Platform: ninja
Favorite Futures: NQ
 
cory's Avatar
 
Posts: 5,944 since Jun 2009
Thanks: 818 given, 7,634 received



cory View Post
compare the queue then pick either YM or NQ

if you re-quote the post then it will alert me to the reply, anyway it's just Ninja DOM you can open multiple DOM and compare them side by side.

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