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Swing traded many years ago as a rank amateur. Lost money, made it back, lost interest due to work.
I discovered Emini's many, years ago and joined Traders International, which had good points, but more bad points.
I have since developed a system that I believe has merit. I have sim traded it long ago in Ninjatrader with success.
I have many years of on/off screen time with it, always trying to optimize it more, but it delivers daily.
I work full time days, monitor it on and off during the day and review at night.
Pattern and signal hunting is my passion. I also want to program trade/code someday, I am currently in the IT field.
I am opening an account this week and getting live data finally.
I really need to talk with people who made their dream happen. Right now as amazing as this looks, it's just a dream.
I know 2% of traders make it happen, but this is a passion that never goes away.
I need to hear from those who are trading solo as a business, the pros and cons.
Where do I begin, what's involved, how do I work my way into it? After hours?
Does anything trade at night CST? Change my work hours to trade the Minis daytime?
Another basic question, how different are signals on the YM vs. ES. vs NQ, does anyone use the same method across all three? Are there others to consider?
Why not succeed in your career and find a system that you can trade along with it?
If you have a balanced approach from day one, you may take better decisions down the road.
My edit: This is my 2000th post. I am not a Market Wizard any longer but a Futures.IO Elderly.
Thanks,
Matt Z
Optimus Futures
There is a substantial risk of loss in futures trading. Past performance is not indicative of future results.
Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email [email protected]
will post if it helps you. i work FT. But also trade during Open...there are times i swing. also am active after work. i dont trade to put on a trade....i trade if it is per my thinking..so patience has some work here.
however was only ES trader...graduated to only NQ "Primary now". But i also have been putting on many CL and Treasury trades. What i can say ...is from my experience ...if one can trade 1 instrument good....which should be the primary thing before knowing the market...one can trade anything. different instruments have different subtleties....which can be observed once you know what you should look out for per yr trading style. There is no 1 thing which differentiates one instrument from the other. However Liquidity is different for sure.
If it's a passion....anything is possible. I say this as there was a brief period of time i went to SIM to correct my bad habits. But my SIM trades were EXACT what it would/or is in Live. If that is the case...one gets exact feedback from their SIM trades.
However know that in trading....once wrong ..cut "risk mgt". And Patience for yr trade is key
goodluck and wish you only the best. may you get what you look for in yr trading
Your SIM resembled your live trading because you had enough experience with live trades from the past to treat SIM in a realistic way, especially from a liquidity, execution and risk management. However, those who lacked real trading and mostly engaged in SIM may find it challenging to bring practical approaches to SIM..for the most part.
Thanks,
Matt Z
Optimus Futures
There is a substantial risk of loss in futures trading. Past performance is not indicative of future results.
Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email [email protected]
I have to agree. My system was sim traded in 2009 and upon looking back at the videos I captured, I could see where I was adding to losers and doubling down to get out even or with a few ticks. I am glad I recorded those sessions. What I have created is an excellent entry system, at times, but it has issues with trend since it is a contra-trend system.
I am in this phase now, looking at different markets, NQ, ES, YM, RTY to see if there is any advantage.
Why did you decide to go NQ vs. ES, volatility? In reviewing John Carters book, he used to highly recommend YM due to pros on the ES and tick size and potential stops being hit in the ES vs. the YM at 10 tick levels to place stops. Are any of these valid suggestions?
You will find no trader who didn't lost money a single time. But who fear to fail fails most of the time. Passion rules the game--I believe.
Paul Mann: In order to be considered a professional trader, two conditions must be met:
First, the individual must meet the strict definition of a "trader", and secondly to obtain the benefits of that status, the IRS has established very strict guidelines as to forms and elections that must be filed with them to notify them of your "trader status".
What we take from this, is that a "professional trader" is one who trades on a regular basis, on his own behalf, and his trading style is to catch short term swings in stock prices, rather than long term capital appreciation. This type of trader is now commonly referred to as a "Day Trader"
A non professional trader would encompass all other stock traders or investors who either do not fit the above definition, or if they do satisfy the definition have not made the proper income tax elections.
