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I try to keep track of my money flow. I had a rough start (not knowing anything about trading) but I have learned that persistence pays off. My first $2,000.00 investment went kaput very fast. I learned that the more trades you make in 1 day makes a lot of revenue for the system and NOT for you. I am on my 2nd $2,000.00 and will make it pay off !
I enclose an XL chart that I input my daily numbers in to give me a sense of what the market has been doing. I hope that it does show up after I post this. (I am also new at blogs too.)
Let me know what you think. Do you have something better ?
Trading: The one I'm creating in the present....Index Futures mini/micro, ZF
Posts: 2,311 since Nov 2011
Thanks Given: 7,341
Thanks Received: 4,518
I have no chart with your post in this thread. Could you try again? Click on the little paper clip icon to upload it.
If I could make a few suggestions. Start out trading something more suited to your level. Trading ES with $2k and being new is like having a 15 yr old jump in behind the wheel of a Formula One car as their first driving experience. The probabilities are heavily against you. In all seriousness. You are simply supplying the profits to very well established traders. It's like they are able to reach right into your account and take your cash at will.
At $1.25 a tick you can almost be wrong on the entire days range and live to battle another day.
Do yourself a favor and join FIO as an Elite member and watch as many webinars as you can. Educate yourself. Start a trading journal here and post post post.
Ron
...My calamity is My providence, outwardly it is fire and vengeance, but inwardly it is light and mercy...
The steed of this Valley is pain; and if there be no pain this journey will never end.
Buy Low And Sell High (read left to right or right to left....lol)
Hello,
The system will not let me post a chart - since I am not an elite member yet. I wish to trade a few months first to see if I will like this enough to spend time on it daily. It does look like I will continue - but I will join up when the time is right.
I have found that the SIM programs that are out there gives everybody a false sense of how the system works. I will not buy/pay for any program that seeks to enrich other traders/sellers.
My XL program is very simple: I keep track of my bid days, the open number at 00:00 (midnight), at 5:00am number, the daily high number (and a checkmark if it was before on the left or after 5:00am on the right), and the closing number. It next calculates the "ticks" on Open to Close; 5:00am to close; 5:00am to Daily High; and Open to Daily High. The next column lists all the fees as a minus number, the next column lists todays profit/loss number.
The next column calculates the Phillip Capital balance (which matches my daily email balance) and finally the last column calculates my investment balance - of which I am still at a loss of$1612.24 from the $4000.00 invested. If I were to loose it all - then I might consider closing this out as another of Life's Lessons.
I am NOT happy with the financial systems out there - where they invest for you and you make out with a $100.00 profit every quarter or a $2,000.00 or more loss. That is why I am here trying this out. EXPERIENCE IS THE BEST TEACHER. I was going to put what I've done for a living - but will leave it as is.......
On a day-to-day basis my trades give me $50, 75, 212, 687.50, 200, OR take away $ 1187, 625, 125, 275, 550 give or take. BUT, I do know what I have as balances and take credit for my wins & losses all by myself. Every time I trade I figure something about what happened so that it never happens exactly how it went (if it was a bad day) or try to repeat what I did on a good day.
Trading: The one I'm creating in the present....Index Futures mini/micro, ZF
Posts: 2,311 since Nov 2011
Thanks Given: 7,341
Thanks Received: 4,518
Everyone will lose money in the beginning don't take it the wrong way.....Good news is you are a person and others have learned how to pull money out of the markets on a consistent basis so you can too.
I don't follow what you mean by the "open number at midnight". RTH open is 9:30 am eastern. Why these times? Midnight, 5:00am?? Open to close is not 5:00am - 5:00am
By number do you mean the price ES is at at that time?
You can bid on the ES starting at Midnight. I've made bids at 4 and 5:00am - waay before the opening at 9:30 am. I just wish I could get myself up at 2:00am where there are better bids going on a lot.
The link above does not give the opening time as there is no 9:30am listed. I know that the NYSE opens at 9:30 - but how come I can bid at 4:00am and earn $$$$ ? Did I open a can of worms ?
Trading: The one I'm creating in the present....Index Futures mini/micro, ZF
Posts: 2,311 since Nov 2011
Thanks Given: 7,341
Thanks Received: 4,518
Most CME futures products, ES included, are open 23 hours a day called Globex M-TH less a small trading halt for 15 minutes so actually 22.75 hours. But the word "OPEN" to the majority of traders is the pit session open for ES that corresponds to the NYSE cash open.
Traders in London and Asia, for example, will trade ES more so during Globex hours.
