CME "Trade Against a Pro" Trading Challenge - March 3-8 - News and Current Events | futures io social day trading
futures io futures trading


CME "Trade Against a Pro" Trading Challenge - March 3-8
Updated: Views / Replies:327 / 13
Created: by snax Attachments:0

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 100,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

 
 
Thread Tools
 

CME "Trade Against a Pro" Trading Challenge - March 3-8

 
Trading for Fun
Chicago
 
Trading Experience: Beginner
Favorite Futures: (March 22, 2019): /ESM9 - current expectancy = (12.00 * 0.6667) - (8.00 * 0.3333) = 5.334 ticks
 
Posts: 108 since Feb 2019
Thanks: 142 given, 98 received

CME "Trade Against a Pro" Trading Challenge - March 3-8

Hello,

I thought some of you might be interested in doing this for fun, learning, or both.

https://www.cmegroup.com/education/trading-challenge.html

I did one of their trading competitions in Energy futures at the end of last year (Nov. 2018). (/CL, /RB, /BZ were allowed and you had a virtual account of $100,000.00). I thought it helped me learn a few things.

Cheers,
snax

The following 5 users say Thank You to snax for this post:
 
 
Market Wizard
Houston, TX
 
Trading Experience: Advanced
Platform: XTrader
Broker/Data: Advantage Futures
Favorite Futures: Energy
 
Posts: 2,743 since Dec 2013
Thanks: 2,201 given, 4,824 received
Forum Reputation: Legendary

Read all the documentation couldn't find anything that says what instruments you can trade and how they would decide whether your were filled or not.

The following user says Thank You to SMCJB for this post:
 
 
Trading for Fun
Chicago
 
Trading Experience: Beginner
Favorite Futures: (March 22, 2019): /ESM9 - current expectancy = (12.00 * 0.6667) - (8.00 * 0.3333) = 5.334 ticks
 
Posts: 108 since Feb 2019
Thanks: 142 given, 98 received


I didn't find any either, unfortunately this seems pretty typical.

Last time they emailed me before the challenge and I had to review some educational stuff before I was officially entered into the challenge. They were just videos and docs about how the West Texas Intermediate pipeline worked and likewise for Brent crude (since it was an energy futures challenge), though I don't remember if it was mandatory or suggested now that I think about it.

Maybe all cme-listed products are valid? Won't know for sure until more info comes out.

The following user says Thank You to snax for this post:
 
 
Trading Apprentice
singapore
 
 
Posts: 10 since Feb 2019
Thanks: 13 given, 8 received


snax View Post
Hello,

I thought some of you might be interested in doing this for fun, learning, or both.


I did one of their trading competitions in Energy futures at the end of last year (Nov. 2018). (/CL, /RB, /BZ were allowed and you had a virtual account of $100,000.00). I thought it helped me learn a few things.

Cheers,
snax

Thank you, i will give this a try! good share

The following user says Thank You to jigg for this post:
 
 
Market Wizard
Houston, TX
 
Trading Experience: Advanced
Platform: XTrader
Broker/Data: Advantage Futures
Favorite Futures: Energy
 
Posts: 2,743 since Dec 2013
Thanks: 2,201 given, 4,824 received
Forum Reputation: Legendary


snax View Post
I did one of their trading competitions in Energy futures at the end of last year (Nov. 2018). (/CL, /RB, /BZ were allowed and you had a virtual account of $100,000.00). I thought it helped me learn a few things.

So how did they decide if you got filled? Was it filled if touched? Did they take commissions out? Is the $100,000 how much margin you have?

 
 
Trading for Fun
Chicago
 
Trading Experience: Beginner
Favorite Futures: (March 22, 2019): /ESM9 - current expectancy = (12.00 * 0.6667) - (8.00 * 0.3333) = 5.334 ticks
 
Posts: 108 since Feb 2019
Thanks: 142 given, 98 received


SMCJB View Post
So how did they decide if you got filled? Was it filled if touched? Did they take commissions out? Is the $100,000 how much margin you have?

1) I don't have a sure answer for how they decide if you get filled (I haven't asked them). I do use their simulator for my current trading that I am journaling, as well as experiments outside of that when I want to test new strategies and I am getting partially-filled on orders for multiple contracts so I know they have some sort of queueing model to simulate a real order book and it does not always just fill if it hits your price though sometimes it does, which i think is cool and more realistic.
My "serious" sim-trading that I journal and track is usually just one contract orders but even then I have seen my price get hit and not filled a couple times this paat week.

2) They do not take commissions out, your P/L that is ranked is exactly what it would be before any fees. I track that separately and I use the following model:

/ES, /NQ
$1.25 per contract per side.
$1.18 Clearing fee per side
$0.02 NFA fee per side
$0.30 Transaction fee per side
= $5.50 round-trip per contract

/CL, /NG, /GC are almost the same except the clearing fee I bump to $1.50 per side so round-trip is about $6.14 per contract.

3) They limit your position to 10 contracts in any product, but you can open positions in multiple products. I want to say the margin reqs. are something like $7,480.00 per contract but I don't know if its actually enforced. I've never had a virtual margin-call.

Hope this helps answer some of your questions.


Last edited by snax; February 23rd, 2019 at 02:53 PM. Reason: clarification.
 
 
Market Wizard
Houston, TX
 
Trading Experience: Advanced
Platform: XTrader
Broker/Data: Advantage Futures
Favorite Futures: Energy
 
Posts: 2,743 since Dec 2013
Thanks: 2,201 given, 4,824 received
Forum Reputation: Legendary

Thanks @snax. I was thinking about entering and trying to only trade butterflys. No-commissions would make this very doable, but the max 10 contracts would make it impossible. Many of the CL butterflys have an initial margin of only $100, so theoretically if you were leveraging a $100,000 account you could have a 1000. Obviously not good advice for real life!

The following user says Thank You to SMCJB for this post:
 
 
Trading for Fun
Chicago
 
Trading Experience: Beginner
Favorite Futures: (March 22, 2019): /ESM9 - current expectancy = (12.00 * 0.6667) - (8.00 * 0.3333) = 5.334 ticks
 
Posts: 108 since Feb 2019
Thanks: 142 given, 98 received

SMCJB,

That's interesting that you were thinking butterfly spreads, do you do any pairs-trading?

 
 
Market Wizard
Houston, TX
 
Trading Experience: Advanced
Platform: XTrader
Broker/Data: Advantage Futures
Favorite Futures: Energy
 
Posts: 2,743 since Dec 2013
Thanks: 2,201 given, 4,824 received
Forum Reputation: Legendary

Primarily CL and NG Spreads and Butterflies

The following user says Thank You to SMCJB for this post:
 
 
Trading for Fun
Chicago
 
Trading Experience: Beginner
Favorite Futures: (March 22, 2019): /ESM9 - current expectancy = (12.00 * 0.6667) - (8.00 * 0.3333) = 5.334 ticks
 
Posts: 108 since Feb 2019
Thanks: 142 given, 98 received


FYI, I noticed this on the simulator site:


Quoting 
Market Data and Simulation Provided by CQG

I'm (roughly) guessing that CQG just models the order queue-depth based on current live market volume and simulates the partial-fills and slippage of the live market in the simulator.


 



futures io > > > > CME "Trade Against a Pro" Trading Challenge - March 3-8
Thread Tools



Upcoming Webinars and Events (4:30PM ET unless noted)
 

Day Trading Oil Futures: Reducing Risk & Increasing Profits w/DTN IQFeed

Mar 26
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
" Rolling " an Options trade ..... " Roll " Out ? " Roll " up/down, Vertical Roll ?? md1933 Options on Futures 10 December 4th, 2016 05:07 PM
CME holiday March 29th Big Mike Traders Hideout 4 March 28th, 2013 05:41 AM
March Challenge Trading Journal RedDotScott Trading Journals 9 February 2nd, 2013 07:24 AM
How to change "Stop Loss" and "Take Profit" in "shElderImpulse" Strategy javed759 NinjaTrader 1 November 1st, 2011 10:44 PM
"mid", "buy", "sell" volumes lokgotkent Traders Hideout 6 September 30th, 2011 01:24 PM


Tags
benchmarking, cl, cme, commodities, cqg, crude, crude oil, data, day trade, emini, es, es futures, est, futures, gc, margin, market data, metals, nq, nymex, oil futures, order book, orders, pairs, price action, price action trading, reversals, review, short, sim, simulation, simulator, sim_trading, slippage, spreads, strategies, strategy, swing, trading, trading the emini, vix, volume

All times are GMT -4. The time now is 08:55 AM. (this page content is cached, log in for real-time version)

Copyright © 2019 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432 WhatsApp Business, info@futures.io
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.
no new posts
Page generated 2019-03-25 in 0.22 seconds with 13 queries on phoenix