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Trading REAL MONEY
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Created: by DetroitMoney Attachments:10

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Trading REAL MONEY

  #71 (permalink)
Membership Revoked
Detroit Michigan United States of America
 
Futures Experience: Advanced
Platform: NT TOS Scott Trade Live stream
Broker/Data: AMP Scott Trade TOS
Favorite Futures: Whatever is in play
 
Posts: 86 since Oct 2013
Thanks: 19 given, 35 received

Got some more good fills today. I have 18 positions now and am looking for JCP tomorrow on open to fill at 6.54 ish or so. Their numbers are coming out and it's going to be a blood bath. We'll see though. If I don't get it I will be looking for LEE at 2.77 or KIOR at 1.93 ish. Also got another 5.25 points out of ES today so not a half bad day after all.

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  #72 (permalink)
Membership Revoked
Detroit Michigan United States of America
 
Futures Experience: Advanced
Platform: NT TOS Scott Trade Live stream
Broker/Data: AMP Scott Trade TOS
Favorite Futures: Whatever is in play
 
Posts: 86 since Oct 2013
Thanks: 19 given, 35 received

Changed my mind on the JCP for right now. Gonna shoot for VG at 2.96 ish. I was talking about that awhile back with another trader so I think that is going to be the better play and I can buy more of it at that price.

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  #73 (permalink)
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Detroit Michigan United States of America
 
Futures Experience: Advanced
Platform: NT TOS Scott Trade Live stream
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Posts: 86 since Oct 2013
Thanks: 19 given, 35 received


Was just grooving to some hard bop on jazzradio.com and doing my scans and updating & running down my watch lists. It's kooky how many set ups there are right now. For anyone who is trading stocks you might want to look hard at SIRI.

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  #74 (permalink)
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Detroit Michigan United States of America
 
Futures Experience: Advanced
Platform: NT TOS Scott Trade Live stream
Broker/Data: AMP Scott Trade TOS
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Posts: 86 since Oct 2013
Thanks: 19 given, 35 received

Got filled on VG today so that completes my distribution of capital. Now it is just management of 19 positions and making sure nothing kooky happens. Really nothing to do now except wait to get paid someday. I did however take a 250 loser on ES today however I don't really worry because I stuck to my plan with iron clad will and just got stopped out on my hard money SL. It happens. Market will be there tomorrow for me to get some or all of it back OR NOT.. LOL

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  #75 (permalink)
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Detroit Michigan United States of America
 
Futures Experience: Advanced
Platform: NT TOS Scott Trade Live stream
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Posts: 86 since Oct 2013
Thanks: 19 given, 35 received

Here is a tune I bet most of you have never heard of before. If you are into jazz music you will dig this for sure. I am going to lay down some backing percussion tracks over it this weekend. This is as sexy as music gets right here!!

Sade - Room 55 - YouTube

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  #76 (permalink)
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Detroit Michigan United States of America
 
Futures Experience: Advanced
Platform: NT TOS Scott Trade Live stream
Broker/Data: AMP Scott Trade TOS
Favorite Futures: Whatever is in play
 
Posts: 86 since Oct 2013
Thanks: 19 given, 35 received

I was able to make just about all of my money back from yesterdays loss except the fee's. I can live with that considering it only took about 20 minutes to do. Done before 10am is good

Money goal on the day is $200. Very do able in the ES. Back when I was studying ES on Mack's system you could for sure get 4 points out of it on any given day. Trying for more than that at one time will get you FUBAR quick!!

I try to trade less and make more and not stay long to long. How you can make money in ES is by trading size which takes a big account size. I get ES for 300 from my broker however it costs around 10 to 1 trade on a 1 lot in ES which means to net 200 you must do 4.25 points or better. Hence the reason for the hard money goal.

Trading S&D + PA is the only way to go. Doesn't matter what instrument you are trading or what TF. I am doing most my trades in ES right now on a 60 minute chart because that is what I see the best right now. Will/can that change? It could and if it does I would just look for the value areas on a different time frame. I trade what I see actually happening NOT what I THINK is GOING to happen. Works reallllll good. Will that work for you? Hell I don't know.

You don't a freakin crystal ball to know where the value areas are. They are there. You just have to know where to look. If you can't see them I encourage you to do some research on how and where to find them.

Have a profitable day!!

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  #77 (permalink)
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DetroitMoney View Post
I get ES for 300 from my broker however it costs around 10 to 1 trade on a 1 lot in ES

$9.52 in total commissions for a 1 lot in ES is quite high for a self directed account. Half of that is more reasonable, $3-4 RT is good.

If you have any questions please send me a Private Message or use the futures.io "Ask Me Anything" thread
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  #78 (permalink)
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Yeah it's kinda high I know but the trade off is the 300. That's their whole game though. They want you to try to trade size so they can take more of your account with the "cuts". I am very strict on the size. I may dumb but I'm not stupid. LMAO

As I said earlier KD 4 points daily in the ES is very do able in my experience. It will take a considerable amount of time to build up my account to be able to move up to 2 cars at 200 a day. The market is always going to be there though.

When it's real money on the line I'd rather be smart than reckless.

If you know of a broker who gives 300 on ES and whose expenses are less than mine I am down for it. Please post a link if you would. TIA


Last edited by DetroitMoney; November 21st, 2013 at 12:09 PM.
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  #79 (permalink)
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DetroitMoney View Post
Yeah it's kinda high I know but the trade off is the 300. That's their whole game though. They want you to try to trade size so they can take more of your account with the "cuts". I am very strict on the size. I may dumb but I'm not stupid. LMAO

As I said earlier KD 4 points daily in the ES is very do able in my experience. It will take a considerable amount of time to build up my account to be able to move up to 2 cars at 200 a day. The market is always going to be there though.

When it's real money on the line I'd rather be smart than reckless.


I don't know anyone who can consistently take 20 points a week out of ES per contract.

I do know of one firm in Chicago who aims for 20 points in 1 month.

If you have any questions please send me a Private Message or use the futures.io "Ask Me Anything" thread
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  #80 (permalink)
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DetroitMoney View Post

If you know of a broker who gives 300 on ES and whose expenses are less than mine I am down for it. Please post a link if you would. TIA

I'll bet one exists, but 1) I am terrible at picking brokers (I was a client of both Refco and PFG Best, but luckily not MF Global) and 2) I'd never recommend someone try to trade based on such a low margin requirement. It is a recipe for disaster.

If you have any questions please send me a Private Message or use the futures.io "Ask Me Anything" thread
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