NexusFi: Find Your Edge


Home Menu

 





Asking Suggestions On Next Step After Profit With One Lot Trading-Micros


Discussion in Emini and Emicro Index

Updated
      Top Posters
    1. looks_one techa with 23 posts (48 thanks)
    2. looks_two TraderMich with 8 posts (8 thanks)
    3. looks_3 TCCONDE with 6 posts (10 thanks)
    4. looks_4 MiniP with 5 posts (20 thanks)
      Best Posters
    1. looks_one bobwest with 8.5 thanks per post
    2. looks_two snax with 5.8 thanks per post
    3. looks_3 MiniP with 4 thanks per post
    4. looks_4 techa with 2.1 thanks per post
    1. trending_up 18,258 views
    2. thumb_up 197 thanks given
    3. group 203 followers
    1. forum 86 posts
    2. attach_file 0 attachments




 
Search this Thread

Asking Suggestions On Next Step After Profit With One Lot Trading-Micros

  #41 (permalink)
 
TCCONDE's Avatar
 TCCONDE 
San Francisco, California, USA
 
Experience: Advanced
Platform: Tastyworks
Broker: Tastyworks
Trading: CL, ZW, ZS, ZC, ES, NG, Smalls
Posts: 18 since Sep 2019
Thanks Given: 0
Thanks Received: 44

Hi Techa.

I am a new guy around here but I have been trading for about 55 years and I have real college degrees in this crap. For full disclosure, other than cash, my trading accounts/portfolios are about 30% futures, 60% options, and the rest stocks (the result of naked puts and for covered calls). I was taught to trade onezies (in anything) until I understood the market (as far as I or any human can) and was making a decent profit. If I am looking at defined risk, I typically spend 1-3% of my overall buying power per trade. If it is undefined risk, up to 6% per trade. I am a huge believer in probabilities, and the central limit theorem. The more times I enter a trade with well designed mechanics, the more the results will, over time, take on a normal distribution. For futures, I traded futures options until I had enough of a handle on it to take the plunge. What I am saying is that onezies have their place, like training wheels. But I never go over 5-6% of my portfolio buying power for any trade. BUT, find a broker that offers portfolio margin.

Good luck.

Tim

Reply With Quote

Can you help answer these questions
from other members on NexusFi?
The space time continuum and the dynamics of a financial …
Emini and Emicro Index
Deepmoney LLM
Elite Quantitative GenAI/LLM
Futures True Range Report
The Elite Circle
Better Renko Gaps
The Elite Circle
NT7 Indicator Script Troubleshooting - Camarilla Pivots
NinjaTrader
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Get funded firms 2023/2024 - Any recommendations or word …
59 thanks
Funded Trader platforms
37 thanks
NexusFi site changelog and issues/problem reporting
22 thanks
GFIs1 1 DAX trade per day journal
22 thanks
The Program
20 thanks
  #42 (permalink)
 
TraderMich's Avatar
 TraderMich 
Copenhagen + Denmark
 
Experience: Advanced
Platform: Sierra Chart
Broker: Broker: Trade Future 4 Less. Data Feed/Order routing: CQG
Trading: DAX; ES; Bund Futures
Posts: 77 since Oct 2018
Thanks Given: 49
Thanks Received: 57

This is correct - I would even say risking 2% is at high end 1% risk per trade is much better/safer - If you trading style requires more than one contract MES is an good - otherwise the commission of 1 ES compared to 2 MES should be what decides which one you trade. - If you are new and comming from papertrading and want to start risking real money MES is also good just reading one contract since this keeps your risk at the halfe of one ES contract.

Best regards

TraderMich

Reply With Quote
Thanked by:
  #43 (permalink)
 
Aurac's Avatar
 Aurac 
London+United Kingdom
 
Experience: Advanced
Platform: eSignal
Broker: InteractiveBrokers
Trading: If it moves...
Posts: 50 since Jan 2013
Thanks Given: 90
Thanks Received: 93



jacopo View Post
I doesn't really matter what product you are trading. The questions... are you trading 2% of your capital. And are you comfortable with risking that.

THIS SHOULD BE YOUR STARTING POINT !!!!

Starting with the percentage of capital at risk per trade is a good paradigm.
I would say 2% is still too high. 1% is more conservative.
1% means that it will take you at least 100 trades to lose your capital.
You will learn a lot about yourself in 100 trades...

Reply With Quote
Thanked by:
  #44 (permalink)
 techa 
Wilmington, NC
 
Experience: Beginner
Platform: Infinity Futures, TOS
Trading: ES, MES
Posts: 75 since Apr 2019
Thanks Given: 75
Thanks Received: 92


tradepips View Post
If you decide to go with the free Ninjatrader account, you might want to be sure you understand what is missing in the "free" version. I recently opened a "free" Ninjatrader account. I've found it very difficult to place stop loss and take profit orders, since the free version only allows you to take a position first, and then add the stops after. Also, I have not found a way to adjust the stop orders on the chart after being in a trade (chart trader). Since I am usually in and out of the market very quickly, I've found it impossible to use for trading.

Take a look at their site on the page comparing the 3 licenses and you can see that the free version is missing "Trader +" features. The list includes placing automatic stop losses and take profits, one cancels the other and chart trader abilities. All of which I find essential for trading.

Just wouldn't want you to think you were getting something you could use and find it's useless after you open your account, if you opt for free.

Of course, as the comparison shows, the paid for versions come with "Trader +".

https://ninjatrader.com/LicenseComparison

However, if you just want to demo trade, then if you switch your live license key to simulated license key, you get the "Trader +" abilities.

I'm glad you mentioned this! I thought to be honest the "free" version didn't allow you to order live at all, I thought it was just like an extended demo mode. My targets and stops are father out so that could be an option, but I don't imagine me jumping ship from Infinity Futures any time soon despite the high fees. I think I will stick with them until I am comfortably up to 3 contracts.

Started this thread Reply With Quote
  #45 (permalink)
 
MiniP's Avatar
 MiniP 
USA,USA
Market Wizard
 
Experience: Intermediate
Platform: NinjaTrader
Broker: NinjaTrader Brokerage
Trading: ES,
Posts: 1,157 since May 2017
Thanks Given: 1,109
Thanks Received: 2,943

you've just got a ton of advice from a ton of different people, before you do anything please evaluate what your doing and do whats best for you. Whats best for me might not work for you.. take your time there is no rush.

-P

"Truth is not what you want it to be; it is what it is, and you must bend to its power or live a lie"-Miyamoto Musashi
Visit my NexusFi Trade Journal Reply With Quote
Thanked by:
  #46 (permalink)
 techa 
Wilmington, NC
 
Experience: Beginner
Platform: Infinity Futures, TOS
Trading: ES, MES
Posts: 75 since Apr 2019
Thanks Given: 75
Thanks Received: 92


MiniP View Post
you've just got a ton of advice from a ton of different people, before you do anything please evaluate what your doing and do whats best for you. Whats best for me might not work for you.. take your time there is no rush.

-P

I really appreciate all of the feedback. One thing I have observed in this journey is this...

I work in healthcare (CT Technologist) and when I was a student, each tech I worked with had a different way of doing things. The results were the same, just many different ways of approaching the varied patients and studies. As a student, you have to learn each of the techs nuances but once I got hired I had to forge my own path to find what worked for me.

Trading has seems much like this. I've tried to take a little knowledge from here and there from technical analysis to price action, to order execution (and now scaling into multiple contracts) and find what works best for me.

One thing I have decided is sticking with micro for awhile, at least until I can feel very comfortable with 3 contracts. Once I reach that goal, and can fund 10k+ then I'll look at starting full es with one or two contracts.

Started this thread Reply With Quote
Thanked by:
  #47 (permalink)
 
bobwest's Avatar
 bobwest 
Western Florida
Site Moderator
 
Experience: Advanced
Platform: Sierra Chart
Trading: ES, YM
Frequency: Several times daily
Duration: Minutes
Posts: 8,162 since Jan 2013
Thanks Given: 57,343
Thanks Received: 26,267


MiniP View Post
you've just got a ton of advice from a ton of different people, before you do anything please evaluate what your doing and do whats best for you. Whats best for me might not work for you.. take your time there is no rush.

-P

Great advice. Even if every single thing that was said so far worked very well for the person who said it, it might not work for you at all.

But some of it will. I'm glad you've gotten so many replies. Now you have more to work with. Good luck with all this. This stuff can be fun and rewarding too.

Bob.

When one door closes, another opens.
-- Cervantes, Don Quixote
Reply With Quote
Thanked by:
  #48 (permalink)
 techa 
Wilmington, NC
 
Experience: Beginner
Platform: Infinity Futures, TOS
Trading: ES, MES
Posts: 75 since Apr 2019
Thanks Given: 75
Thanks Received: 92


Aurac View Post
THIS SHOULD BE YOUR STARTING POINT !!!!

Starting with the percentage of capital at risk per trade is a good paradigm.
I would say 2% is still too high. 1% is more conservative.
1% means that it will take you at least 100 trades to lose your capital.
You will learn a lot about yourself in 100 trades...

1% (or less). That has been what's kept me in the game thus far!

Started this thread Reply With Quote
Thanked by:
  #49 (permalink)
 tradepips 
Sacramento, CA USA
 
Experience: Intermediate
Platform: Sierra Charts
Trading: YM, ES
Posts: 144 since Feb 2018
Thanks Given: 573
Thanks Received: 110


Quoting 
I thought to be honest the "free" version didn't allow you to order live at all, I thought it was just like an extended demo mode.

There is the free demo version that is not connected with any account. You are correct that it does not allow live trading. This "free" version does have Trader + features.

There is also a way to open a live account with ninjatrader that does not require you to buy or lease Ninjatrader. However, you will only be allowed to trade live on the "free" version, which does not have Trader + features.

Reply With Quote
  #50 (permalink)
 
TCCONDE's Avatar
 TCCONDE 
San Francisco, California, USA
 
Experience: Advanced
Platform: Tastyworks
Broker: Tastyworks
Trading: CL, ZW, ZS, ZC, ES, NG, Smalls
Posts: 18 since Sep 2019
Thanks Given: 0
Thanks Received: 44


Morning everyone.

Always rememebr that everyone has to develop their own way of doing this stuff. Just like I never listen to anyone telling me what I should buy/sell, I developed my own style over many, many years. My first trade was a 14. I researched, I did homework and I fought to make the trade even though parents, their broker, etc said I was crazy. The stock gained over 600% over the next few years and I was put in charge of my parents investing. The only thing that matters to me is that you are making money and are comfortable doing what you are doing. Yes, I will go up to 6% of buying power in undefined risk trades. That doesn't mean you should. Maybe 2% is better for you. Maybe you are only comfortable with defined risk trades. Only you know that. And what we all do should only say that there is more than one way to skin the cat.

Best wishes,

Tim

Reply With Quote
Thanked by:




Last Updated on January 27, 2020


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts