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Am I ready for live Trading Now?


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Am I ready for live Trading Now?

  #1 (permalink)
goodoboy
Houston
 
Posts: 380 since Dec 2016
Thanks Given: 344
Thanks Received: 246

Hello all,

Am I ready for live trading with real money now?

I need your feedback please. Any feedback (Positive, Negative, etc.) is welcome. Below are my simulated forward discretion manually day trades. I trade 1 contract Crude Oil market from 7am to 11am central.

I have been sim trading daily for the past 1.3 years.

The Trading Method 1 is mixture of reversals and breakout and pull backs
The Trading Method 2 is only breakout.

My strategy is mostly breakout and reversal intraday 3 minute chart.

I am considering going live cash soon.

I appreciate any help or advice I can get.

Thanks

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  #3 (permalink)
 equilibrium34x 
Chicago, IL USA
 
Posts: 11 since Nov 2018


I would say so but try trading the micro es so you can see if your mind is right.

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  #4 (permalink)
goodoboy
Houston
 
Posts: 380 since Dec 2016
Thanks Given: 344
Thanks Received: 246


equilibrium34x View Post
I would say so but try trading the micro es so you can see if your mind is right.

Thank you so much equilibrium34x, I appreciate it.

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  #5 (permalink)
 equilibrium34x 
Chicago, IL USA
 
Posts: 11 since Nov 2018

Maybe spend a few days to just watch the market and see what drives it Monday/Tuesday and go in for 1 contract trades for the rest of the week.

If you are successful either trade a few contracts the next week for the MES or try ES with 1.

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  #6 (permalink)
 
TheShrike's Avatar
 TheShrike 
Bridgeport, Ct
 
Experience: None
Broker: Tasty
Trading: Fops
Posts: 533 since Jun 2012
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You have to start some time

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  #7 (permalink)
 
WoodyFox's Avatar
 WoodyFox 
Columbus, Ohio
 
Experience: Intermediate
Platform: NinjaTrader
Trading: Futures
Posts: 409 since May 2016
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equilibrium34x View Post
I would say so but try trading the micro es so you can see if your mind is right.

HUH? Why would he want to switch to something he is not familiar with, and moves in a completely different way? JMHO.

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  #8 (permalink)
 
barabas's Avatar
 barabas 
Chicago IL USA
 
Experience: Intermediate
Platform: Tradestation
Broker: Tradestation
Trading: ES,NQ, CL
Posts: 111 since Feb 2019
Thanks Given: 105
Thanks Received: 173


goodoboy View Post
Hello all,

Am I ready for live trading with real money now?

I need your feedback please. Any feedback (Positive, Negative, etc.) is welcome. Below are my simulated forward discretion manually day trades. I trade 1 contract Crude Oil market from 7am to 11am central.

I have been sim trading daily for the past 1.3 years.

The Trading Method 1 is mixture of reversals and breakout and pull backs
The Trading Method 2 is only breakout.

My strategy is mostly breakout and reversal intraday 3 minute chart.

I am considering going live cash soon.

I appreciate any help or advice I can get.

Thanks


Maybe try trading Mirco or one of the combine. That way you put some money on the line and you get the truth feeling of how it feels to lose money. Lot of people make money in SIM but when real money comes in. Then their palms are sweaty, knees are weak, and trigger happy they go losing the account... But try it and keep us posted.

Best of luck!

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  #9 (permalink)
goodoboy
Houston
 
Posts: 380 since Dec 2016
Thanks Given: 344
Thanks Received: 246


barabas View Post
Maybe try trading Mirco or one of the combine. That way you put some money on the line and you get the truth feeling of how it feels to lose money. Lot of people make money in SIM but when real money comes in. Then their palms are sweaty, knees are weak, and trigger happy they go losing the account... But try it and keep us posted.

Best of luck!

Thank you barabas, I really appreciate the advice.

I was considering starting a TopStepTrader combine account as their accout size and rules fit my trading style.

I may persue this route just to get some real emotions and discipline to test.

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  #10 (permalink)
 
barabas's Avatar
 barabas 
Chicago IL USA
 
Experience: Intermediate
Platform: Tradestation
Broker: Tradestation
Trading: ES,NQ, CL
Posts: 111 since Feb 2019
Thanks Given: 105
Thanks Received: 173



goodoboy View Post
Thank you barabas, I really appreciate the advice.

I was considering starting a TopStepTrader combine account as their accout size and rules fit my trading style.

I may persue this route just to get some real emotions and discipline to test.

I been doing a lot of researching and comparing with the combine accounts and with Topstep Trader you have to pass the profit target twice before being funded. For example the 50 k combine you have to hit 3k profit target twice....

With the One up Traader you only have to do it once.

Also found a new one today called Speed Up Trader.- dont know much about it yet.

There are a lot of review between TST (Topstep Trader) and One Up on here. How between talk about the data, the fee, the lag when placing trades.

But if you try one of the combine for one month and you still make money then try your own money. No point of wasting 150 $ for rules to keep you in line.

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