Millionaire in 10 weeks & Conversation with broker - futures io
futures io futures trading



Millionaire in 10 weeks & Conversation with broker


Discussion in Psychology and Money Management

Updated by Big Mike
      Top Posters
    1. looks_one MerlinWorld with 125 posts (116 thanks)
    2. looks_two Big Mike with 20 posts (135 thanks)
    3. looks_3 DavidHP with 15 posts (57 thanks)
    4. looks_4 wldman with 14 posts (49 thanks)
      Best Posters
    1. looks_one Big Mike with 6.8 thanks per post
    2. looks_two DavidHP with 3.8 thanks per post
    3. looks_3 wldman with 3.5 thanks per post
    4. looks_4 MerlinWorld with 0.9 thanks per post
    1. trending_up 32,197 views
    2. thumb_up 772 thanks given
    3. group 77 followers
    1. forum 298 replies
    2. attach_file 123 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 100,000 members
  • Genuine reviews from real traders, not fake reviews from stealth vendors
  • Quality education from leading professional traders
  • We are a friendly, helpful, and positive community
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts
  • We are here to help, just let us know what you need
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

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

Closed Thread
 
Search this Thread
 

Millionaire in 10 weeks & Conversation with broker

(login for full post details)
  #41 (permalink)
Montreal
 
 
Posts: 128 since Jan 2013


Big Mike View Post
As a whole, the entire point of our community is helping others with a positive attitude. I created the site because other forums were "infested" to use your term with negativity and trolling, and I couldn't stand it.

WoW! I didn't expect that one.

Glad to hear we share the same values.


Big Mike View Post
what you propose is practically 100% impossible.

Here, read this: https://futures.io/psychology-money-management/47565-millionaire-10-weeks-conversation-broker-part-1-money-management.html

I think I need to remind you of my Part 1 where I posted screenshots of a guy who just proved that what you said was wrong. At least regarding my MM Technique that is.

Look again at the performance report, ESPECIALLY the one where Tim said that betting 656 contracts of the ES was high and where he managed to get to the Million $ mark in 10 weeks by locking down his ES contracts to only 18 which was more down to earth.

As I said on a previous post, EVEN if you failed 1000 times and seen other "experienced traders" (because my 14 years of analyzing, learning, programming systems and backtesting them doesn't seem to count here) have also failed a 1000 times, YOU CAN'T tell a new guy that his system will fail or that it is impossible because he's NOT using the same systems and strategies that YOU USED.

This "Super Crazy" idea of doubling my contract is NOT that far fetched. You just need 5 pts and you have done 1 of the doubling.

I didn't say it was easy or that I will be super consistent because you can't do that. However, I have shown you my indicator and you laugh at it or toss it aside, you are missing a big part of this Million $ climb because any experienced trader will tell you that you need to:

1- Find the trend
2- Buy the dips

...and my indicator is the best I have seen to help me do that and trust me, with 14 years of watching the TradeStation forums and EL programmers come up with all kinds of crazy indicators, I have seen A LOOOOOOOOOT of them so just from that statement alone should gain me some respect here instead of treating me like a kid who just discovered trading last week.


Big Mike View Post
A good place to start is the "Where to start as a trader?"

Oh PLEASE ENOUGH WITH THIS ALREADY.

I got TONS of VHS tapes (that shows my age right there), books, CDs, DVDs, online courses and years of programming and testing under my belt so again... STOP SEEING ME LIKE A NEWBIE....BECAUSE I'M NOT.

Cheers,

Merlin


Can you help answer these questions
from other members on futures io?
Delta PVP ( POC )
MultiCharts
Order Data Export Plugin-- Is it possible?
NinjaTrader
Historical option expirations
Brokers
Convert H Data TS to NT
NinjaTrader
Das Trader Pro
Platforms and Indicators
 
 
(login for full post details)
  #42 (permalink)
Montreal
 
 
Posts: 128 since Jan 2013


Billicare View Post
BTW Sierra chart support is the best!

Alright thanks, so Sierra Chart works on C++.

Do you know the difference between C++ and C Sharp (C#)?

For example here's the C# code for a 50 simple moving average...

 
Code
using System;
using System.Drawing;
using PowerLanguage.Function;

namespace PowerLanguage.Indicator
{
    [SameAsSymbol(true)]
    public class Mov_Avg_1_Line : IndicatorObject
    {
        private AverageFC m_averagefc1;

        private VariableSeries<Double> m_avg;

        private IPlotObject Plot1;

        public Mov_Avg_1_Line(object ctx) :
            base(ctx){
            length = 50;
        }

        private ISeries<double> price { get; set; }

        [Input]
        public int length { get; set; }

        [Input]
        public int displace { get; set; }

        protected override void Create(){
            m_averagefc1 = new AverageFC(this);
            m_avg = new VariableSeries<Double>(this);
            Plot1 =
                AddPlot(new PlotAttributes("Avg", 0, Color.Yellow,
                                           Color.Empty, 0, 0, true));
        }

        protected override void StartCalc(){
            price = Bars.Close;
            m_averagefc1.price = price;
            m_averagefc1.length = length;
        }

        protected override void CalcBar(){
            m_avg.Value = m_averagefc1[0];
            if (displace >= 0 || Bars.CurrentBar > Math.Abs(displace)){
                Plot1.Set(displace, m_avg.Value);
                if (displace <= 0){
                    if (this.CrossesOver(price, m_avg)){
                        Alerts.Alert("Price crossing over average");
                    }
                    else{
                        if (this.CrossesUnder(price, m_avg)){
                            Alerts.Alert("Price crossing under average");
                        }
                    }
                }
            }
        }
    }
}
Can you please post the code of a C++ Sierra Chart of a simple Moving Average so that we can compare the code?

Also, do you know anything about EasyLanguage?

For example, this is the code for that same Simple Moving Average in EasyLanguage.

 
Code
inputs:  Price(Close),Length(50);
variables:  Avg(0);
	
Avg = AverageFC(Price,Length);

Plot1(Avg,"Avg",Default,blue);
If you can understand both codes up there, then I will send you my indicator code to convert them.

Thanks

Merlin

 
(login for full post details)
  #43 (permalink)
no drama Llama
Reading UK
 
Experience: None
 
Posts: 1,748 since Oct 2016
Thanks: 2,674 given, 4,865 received



MerlinWorld View Post
YOU CAN'T tell a new guy that his system will fail or that it is impossible because he's NOT using the same systems and strategies that YOU USED.

No one says you will fail. Odds are that you will though.

If you are going to do it, then stop talking and do it. Prove us all wrong. You can flex afterwards. Not before.

Visit my futures io Trade Journal
The following 10 users say Thank You to Grantx for this post:
 
(login for full post details)
  #44 (permalink)
Montreal
 
 
Posts: 128 since Jan 2013


Grantx View Post
You can flex afterwards. Not before.

I am NOT "flexing"...as you call it.

I'm just posting my performance reports, charts and indicator screenshots and was hoping for some positive feedback but well...

 
(login for full post details)
  #45 (permalink)
Birmingham UK
 
Experience: Intermediate
Platform: NinjaTrader
Broker: TST/Rithmic
Trading: YM/Gold
 
ratfink's Avatar
 
Posts: 3,651 since Dec 2012
Thanks: 17,422 given, 8,401 received

@MerlinWorld

Biggest mistake you made (and it happens often) is to create a thread with this sort of title.

Best advice I can offer you is to join FIO elite, it's worth it many times over, create a journal with a less provocative title and just get on with the business one or two trades at a time being honest with yourself every day of the job. It isn't easy. In a small account I did 20X in 3 months with 170 trades, then blew it up completely and I'm still trying to recover the psychology after three years in sideways la-la land.

I really wish you the best, highly recommend you close this thread and start over in a new journal, walking softly.

Travel Well
Visit my futures io Trade Journal
The following 7 users say Thank You to ratfink for this post:
 
(login for full post details)
  #46 (permalink)
Montreal
 
 
Posts: 128 since Jan 2013


ratfink View Post
Biggest mistake you made (and it happens often) is to create a thread with this sort of title

Not really because this type of title attracts 2 types of people:

1- The negative ones (oops! sorry, I meant to say the "Realist" ones)

2- The Elite, the best of the best, those traders who are on the cutting edge of research who don't trash it right away and ponder about it for a few days before replying.

It's those Elite Traders that I am still waiting for their replies.

On TradeStation, Tim was one of them. He came late but what he did is:

1- Read my "crazy thread"
2- Didn't fall for the "negative trap" and let them bitch about me and calling me names, etc
3- Programmed my Money Management System into code
4- Backtested it with his best trading system

And then and ONLY THEN... he posted screenshots of his performance report and even later on posted my MM technique into code so that it would calculate how much you have done/lost at the end of the day, see if you had enough to double your contracts and if so, apply that in the next trade.

it's when those Elite traders come in that the tone of the thread changes and the views EXPLODES because this "crazy 100% impossible" concept is suddenly "POSSIBLE" and that's based on stats and like I said, only stupid people argue against stats.

So that's what I'm doing here. Phase one (hear the negative bitch and laugh about it) is running it's natural course now but I'm waiting for Phase 2 (The best of the best of coders to jump in) and when this happens, "Hang on to your hats folks" things will get VERY BUSY HERE. Mark my words on that. :-)

Will it happen? Time will tell but if it doesn't happen in Big Mike's Forum, not sure it will happen at all.

So stay tuned, you never know where this thread will be next week from now.

 
(login for full post details)
  #47 (permalink)
desert CA
 
Experience: Intermediate
Platform: NT7, TOS, CQG-trader
Broker: AMP, DT, TDA
Trading: CL,NQ,YM
 
Posts: 2,130 since Jul 2011
Thanks: 2,372 given, 1,710 received


MerlinWorld View Post

In this screenshot, the market only hits the dark cloud once so you would get in at that level. Earlier that morning and later on that day, the price hovered within the 2nd and darkest cloud so you would get in at the peaks OVER that 2nd cloud. here again reversals at that level don't occur too often.



My 2c comments and question. The squared ema kind of reminds me of the old "supertrend" ma or the ZeroLagHATEma. ("Heiken Ashi Triple Ema" or ZeroLagTEMA or the other ZeroLag's). So the two clouds serve as kind of a trend indication. Is the bottom/darker cloud set on a higher time frame similar to a 5min vs. 1min proportion? What happens when in chop and the clouds keep turning over each other, or does that rarely happen with your indicators (?) because a main concern is usually when the trend is ending. I think there is merit for the cloud setup to be a higher time-frame indication where the regular and higher time frames are synched with the trend and easier to see on one chart at least. And maybe it could display similarly on a minute candlestick bar chart as well. (i'd tried the renko bartype phase for a while, but have since preferred traditional minute bars now).

Visit my futures io Trade Journal
The following user says Thank You to Cloudy for this post:
 
(login for full post details)
  #48 (permalink)
Montreal
 
 
Posts: 128 since Jan 2013


Cloudy View Post
Is the bottom/darker cloud set on a higher time frame similar to a 5min vs. 1min proportion? What happens when in chop and the clouds keep turning over each other, or does that rarely happen with your indicators (?) because a main concern is usually when the trend is ending.

My 2 clouds are not based on time or n previous bars, they are based on a fixed price range and yes the darker cloud (longer TF) is set on a 10-12 pt range while the lighter cloud is set on a smaller 6-8 pt range to capture the change in trend.

I agree with you that our main concern is to be warned when the trend is changing and that is why I added a 2 cloud with a smaller TF to tell us that the trend is changing.

You can see in the screenshot below that the light blue cloud is suddenly moving to the upside in white and when it crosses the darker cloud, it changes from dark blue to light gray.

In a choppy market when price jumps up and down on a small range like 10 pts or less you get this smooth setup.



But when the market goes up and down by waves of 10+ pts you get this crazy movements in the 2 clouds. This is fairly rare.



When you see this type of pattern, DO NOT TRADE, even if this means sitting on your hands for a few days. Wait for the 2 clouds to run smoothly in parallel like we saw on the last 3 days.

This was last Friday...



And this was last Thursday...



This was last Wednesday...


 
(login for full post details)
  #49 (permalink)
Market Wizard
New Orleans, La (Mardi Gras City)
 
Experience: Advanced
Platform: NinjaTrader
Broker: Ninjatrader / Optimus Futures / AmpFutures
Trading: ES / 6E / 6B / CL
 
DavidHP's Avatar
 
Posts: 1,339 since Aug 2009
Thanks: 9,333 given, 2,345 received


MerlinWorld View Post
Yes.

As I mentioned above, I am in transition between TradeStation and my new broker. I don't have my 2 clouds indicator coded in C# Sharp (btw, if anyone know how to program C#, PM me, I will send you my indicator code for conversion) and on my new broker's charting software yet.

That's why the screenshots where you see my 2 clouds are on my TradeStation charting software and the screenshots where I made my trades are on MultiCharts.

Also, you always test live a new idea first on a sim and then with real $.

I see your theory is from 2014.
I do not wish to create more drama but I have a few questions.

It seems there have been a lot of 10 week periods between 2014 and 2019.
While you were using TS how many 10 week periods resulted in the success of the hypothesis?

If the hypothesis was proven, why not use some of the profits to hire a programmer to create your indicator? Waiting for someone to volunteer to create it has resulted in many weeks of lost potential $$.

I am not asking to criticize or discourage.
I'm only curious if your hypothesis has been proven or just an unproven theory?

Many years ago I developed a spreadsheet with a similar hypothesis.
It looks great in Excel, but never produced those results in actual trading.
In simulation it works, in live markets meh!

If my post offends you, just ignore it and continue your journey.

Sent using the futures.io mobile app

Rejoice in the Thunderstorms of Life . . .
Knowing it's not about Clouds or Wind. . .
But Learning to Dance in the Rain ! ! !
Follow me on Twitter
The following 6 users say Thank You to DavidHP for this post:
 
(login for full post details)
  #50 (permalink)
Montreal
 
 
Posts: 128 since Jan 2013



DavidHP View Post
I see your theory is from 2014.
I do not wish to create more drama but I have a few questions.

It seems there have been a lot of 10 week periods between 2014 and 2019.
While you were using TS how many 10 week periods resulted in the success of the hypothesis?

If the hypothesis was proven, why not use some of the profits to hire a programmer to create your indicator?

Let's not mix my Money Management Technique with my Trading System shall we? It's 2 different things.

Regarding why nothing happened since 2014? Here's the answer I gave at the end of Part 1...


MerlinWorld View Post
However, there is a 2nd problem and this is the one that will stall everybody include me and this is it...

Tim was able to go to the million $ because he had a "Killer Trading System" that would make him win more $ than he could lose where he was able to use my Money Management and double his ES contracts all the way to the Million $ but...

NOT EVERYONE HAS A SUPER PROFITABLE TRADING SYSTEM LIKE TIM HAD....

Yes, with the M2K futures, if you make 5 pts, you will make a profit of $25 out of an original investment of $25 (M2K Intraday Margin) and make a 100% ROI but what if you LOSE those 5 pts??? That's right, you get a 100% DRAWDOWN.

Sure you got those orange backups at each level you reach but still, you need a good trading system to begin with or you are going NOWHERE.

So since 2014, my quest was to find the best trading system and that was easier said than done. Maybe for you guys here, creating from scratch a trading system that will be making your 5 Pts on a daily basis is a piece of cake but that's not my case here and without that killer trading system to make those 5pts, this means no trading, no doubling of contracts and this means no climb to the million.

Now Tim never posted the code of his trading system that he used to make this Million $ climb in 10 weeks back in 2014 in his performance report.

As to why he didn't even use it to get rich even by locking down the ES contracts to only 18 like he proposed? Go figure! People don't all have the goal of becoming millionaires, maybe it scared him, maybe he didn't even believe his own performance report. Who knows?

So the doubling part (Money Management Technique) that's easy to do ONCE you have a killer trading system which I didn't. At least not good enough to do these doublings.

As to my trading system based on this 2 clouds indicator, I just created it a few weeks ago and I didn't want to jump in head first like I did in 2005 where I lost $22,000. So yeah, I got burned alright, and since then I took my time to get my revenge by coming up with the best trading system I could get my hands on.

At TradeStation you needed $10,000 to open up an account and each Mini Russell 2000 contract was costing $1,600 a piece. If you got burned, that's not the type of money you like to throw in the fire just for the fun of it. So I took my time to gathered the money and slowly took the time a few weeks here and there every year to find and improve any system I saw.

However, now that the Micro Futures account can be opened with only $100 and Micro Russell contracts go for only $25, I have the money for it but still don't have the solid system that will assure me victory. I'm working on it and I'm veeeeeeerrrrryyyy patient kinda like a pitbull who will not leave the sight of his bone.

It's not even ready yet. Even with the help of these 2 clouds indicator, there are still problems to fix but I got time...Good things comes to those who wait right?


Closed Thread

futures io Trading Community Psychology and Money Management > Millionaire in 10 weeks & Conversation with broker


August 5, 2019


Upcoming Webinars and Events
 

Bookmap

Nov TBD
     



Copyright © 2020 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, 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