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Seeking for advice - Beginner - EMini ES


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Seeking for advice - Beginner - EMini ES

  #11 (permalink)
Birmingham, United Kingdom
 
 
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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  #12 (permalink)
Quebec
 
Experience: Intermediate
Platform: NinjaTrader wt Rancho Dinero's profiling tools
Broker: AMP/CQG
Trading: ES, NQ, YM
 
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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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  #13 (permalink)
Los Angels
 
Experience: Intermediate
Platform: TradeStation
Trading: Emini ES
 
Posts: 61 since Aug 2018
Thanks: 68 given, 44 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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  #14 (permalink)
Vancouver Island, Canada
 
Experience: Advanced
Platform: T4, IB, TD Ameritrade
Broker: Stage5
Trading: ES CL RTY Stocks
 
Posts: 58 since Nov 2013
Thanks: 163 given, 127 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



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  #15 (permalink)
Birmingham, United Kingdom
 
 
Posts: 2 since Dec 2018
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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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  #16 (permalink)
Elite_Member
Wiltshire, United Kingdom
 
Experience: Beginner
Platform: Jigsaw daytradr
Trading: US Equity Index Futures
 
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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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  #17 (permalink)
Tampa, FL/USA
 
Experience: Intermediate
Platform: TradingView
Trading: NQ, ES
 
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Posts: 259 since Aug 2016
Thanks: 183 given, 357 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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  #18 (permalink)
the coin hunter
virginia
 
Experience: Intermediate
Platform: ninja
Trading: NQ
 
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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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