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Optimus Futures trading broker review
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Optimus Futures trading broker review

  #151 (permalink)
Elite Member
Detroit, Michigan
 
Futures Experience: Beginner
Platform: Ninja Trader
Favorite Futures: Futures
 
Posts: 295 since Nov 2011
Thanks: 295 given, 280 received

@lancelottrader - I've been there too a couple times (almost exactly the same) and it sucks. The funny thing is I'm never far from it happening it again so constant vigilance is always required. This time around I got some serious training and also trading psychological help. Although that certainly doesn't make me immune it is helping.

Kudos to Matt @ Optimus for handling it like a professional (in an industry that lacks them).

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  #152 (permalink)
Elite Member
west palm beach florida usa
 
Futures Experience: Advanced
Platform: ninja trader
Broker/Data: Optimus Futures/ Rithmic
Favorite Futures: Cl, TF
 
Posts: 719 since Oct 2011
Thanks: 624 given, 2,441 received


TrendTraderBH View Post
@lancelottrader - I've been there too a couple times (almost exactly the same) and it sucks. The funny thing is I'm never far from it happening it again so constant vigilance is always required. This time around I got some serious training and also trading psychological help. Although that certainly doesn't make me immune it is helping.

Kudos to Matt @ Optimus for handling it like a professional (in an industry that lacks them).

Thanks..I appreciate it. I don't want to get this thread off track so I will say one last thing about this.
After talking to Matt, I have regrouped . I realize that my loss, although bad (about 10% of my account), was not catastrophic . I shouldn't have traded that day due to some stressful events going on in my life...and as Matt stated in his e-mail to me.."I failed to define my daily risk parameters. " I have decided not to give up. I will just take steps to insure this never happens again. Thanks again to everyone who has been supportive through this..especially Matt, who went above and beyond what I would expect from a Broker.

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  #153 (permalink)
Elite Member
Las Vegas, NV
 
Futures Experience: None
Platform: NinjaTrader
Broker/Data: NinjaTrader Brokerage
Favorite Futures: CL
 
Posts: 102 since Jun 2010
Thanks: 115 given, 103 received



lancelottrader View Post
Thanks..I appreciate it. I don't want to get this thread off track so I will say one last thing about this.
After talking to Matt, I have regrouped . I realize that my loss, although bad (about 10% of my account), was not catastrophic . I shouldn't have traded that day due to some stressful events going on in my life...and as Matt stated in his e-mail to me.."I failed to define my daily risk parameters. " I have decided not to give up. I will just take steps to insure this never happens again. Thanks again to everyone who has been supportive through this..especially Matt, who went above and beyond what I would expect from a Broker.

Matt is a good guy.
I don't know of any brokerage that you can call and talk to the "MAIN" person.

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  #154 (permalink)
Market Wizard
Boca Raton
 
Futures Experience: Advanced
Platform: Variety
Broker/Data: Optimus Futures, LLC
Favorite Futures: Futures
 
mattz's Avatar
 
Posts: 1,992 since Sep 2010
Thanks: 1,886 given, 2,676 received
Forum Reputation: Legendary

Thank you for all the kind words from you guys, and if there is Karma, you will received it in your personal life and business.

As far as the trading.....
Put the the following sticker on your trading monitor: "The Market Does Not Reward Randomness"

If you try to catch a low, a high, recover from losses, change your lots JUST based on hunches or just try to recover while going through an emotional frenzy, that is randomness. Emotion based randomness can take over regardless your experience, method or years trading. Every trade must have a reason based on your method.

Matt

PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.
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  #155 (permalink)
Elite Member
NÓmes France
 
Futures Experience: Intermediate
Platform: NinjaTrader, Mt4
Broker/Data: NinjaTrader Brokerage
Favorite Futures: Oil
 
Posts: 45 since Nov 2010
Thanks: 81 given, 14 received


lancelottrader View Post
I just saw this post and wanted to mention what happened to me yesterday. Although I am usually a fairly disciplined Trader..I made some foolish trades and took larger stops than usual. I then started doing several 10 contract Trades on CL to make up the loss. Needless to say, I had an epic disaster.
I contacted Matt and told him I was done...To please close my account ..

Apparently something like this is a known form of behavior amongst poker players.
They lose their normal state of mind and do things they would never normally do - for a time which may be short, may be long.
Happened to read it today.
Sezor

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  #156 (permalink)
Market Wizard
Boca Raton
 
Futures Experience: Advanced
Platform: Variety
Broker/Data: Optimus Futures, LLC
Favorite Futures: Futures
 
mattz's Avatar
 
Posts: 1,992 since Sep 2010
Thanks: 1,886 given, 2,676 received
Forum Reputation: Legendary


Sezor View Post
Apparently something like this is a known form of behavior amongst poker players.
They lose their normal state of mind and do things they would never normally do - for a time which may be short, may be long.
Happened to read it today.
Sezor


Yes, it only happens to gamblers. As a trader I am sure you have always been in control.

PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.
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  #157 (permalink)
Elite Member
In the heat
 
Futures Experience: None
Platform: NT
Favorite Futures: Energy
 
PandaWarrior's Avatar
 
Posts: 3,155 since Mar 2010
Thanks: 6,306 given, 13,247 received


lancelottrader View Post
Thanks..I appreciate it. I don't want to get this thread off track so I will say one last thing about this.
After talking to Matt, I have regrouped . I realize that my loss, although bad (about 10% of my account), was not catastrophic . I shouldn't have traded that day due to some stressful events going on in my life...and as Matt stated in his e-mail to me.."I failed to define my daily risk parameters. " I have decided not to give up. I will just take steps to insure this never happens again. Thanks again to everyone who has been supportive through this..especially Matt, who went above and beyond what I would expect from a Broker.

If Matt has the capability, have an auto daily draw down circuit break installed on your account to prevent anything like this happening again. Not sure if he does or not but some do...set it at 1-2% of your account and then trade away knowing you can never have an epic failure again....and if he has the ability, have him set a max contract size as well....something within your limits but also allows you to put on reasonable size if you see a great opportunity set up with low risk....

Just an idea

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #158 (permalink)
Market Wizard
Boca Raton
 
Futures Experience: Advanced
Platform: Variety
Broker/Data: Optimus Futures, LLC
Favorite Futures: Futures
 
mattz's Avatar
 
Posts: 1,992 since Sep 2010
Thanks: 1,886 given, 2,676 received
Forum Reputation: Legendary


PandaWarrior View Post
If Matt has the capability, have an auto daily draw down circuit break installed on your account to prevent anything like this happening again. Not sure if he does or not but some do...set it at 1-2% of your account and then trade away knowing you can never have an epic failure again....and if he has the ability, have him set a max contract size as well....something within your limits but also allows you to put on reasonable size if you see a great opportunity set up with low risk....

Just an idea

All you have to do is ask for increased margins to limit the # of contracts.
But there isn't a platform that I offer that would disable itself once a certain loss has been reached.

Sadly, my competition, has set the precedence for lower margins which are ridiculous, lower account size,etc
Beginners see "$300 Margin" and think its an "advantage" and its not....but by now most of you know it.

Trade Slowly, carefully and survive another day to trade tomorrow.

PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.
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  #159 (permalink)
Elite Member
near Paris, France
 
Futures Experience: Beginner
Platform: -
Favorite Futures: -
 
Nicolas11's Avatar
 
Posts: 1,070 since Aug 2011
Thanks: 2,232 given, 1,729 received

Hi Matt,

My 2 cents...

Of course, at least in my opinion, leverage shall not be considered for position sizing. Position sizing shall only depend on the size of the stop-loss (for instance: x ticks) and the accepted risk per trade (for instance: 0.y% of the capital). Or similar.

But I see one advantage with low margins: it decreases the part of the trading capital to be physically moved to the broker's (the rest of the trading capital can remain on a personal bank account at the bank). Broker's bankruptcy might happen. Even if clients' accounts are segregated, etc., it is better to limit as far as possible this kind of "counterparty risk". Simply by moving to the broker only the capital used for trading as per the margin requirements.

But this is just a positive side-effect of leverage (for me). I would never choose a broker because they propose 1:100 instead of 1:40. And I am reluctant to explore the Web site of brokers which advertise mainly on the basis of high leverage. For me, it is simply the contrary of professional trading.

I take the opportunity of this message to thank you for your availability and kindness on futures.io (formerly BMT)!

Nicolas


Last edited by Nicolas11; May 25th, 2012 at 01:40 PM.
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  #160 (permalink)
Market Wizard
Boca Raton
 
Futures Experience: Advanced
Platform: Variety
Broker/Data: Optimus Futures, LLC
Favorite Futures: Futures
 
mattz's Avatar
 
Posts: 1,992 since Sep 2010
Thanks: 1,886 given, 2,676 received
Forum Reputation: Legendary



Nicolas11 View Post
Hi Matt,



I take the opportunity of this message to thank you for your availability and kindness on futures.io (formerly BMT)!

Nicolas

Thank you Nicolas.

I appreciate your words and I must reciprocate and say that the futures.io (formerly BMT) consist of courteous individuals as yousrself that it is a pleasure to communicate with.

PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.
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