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Is anyone actually making money?


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Is anyone actually making money?

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  #41 (permalink)
 vmodus 
Legendary Systematic Algo Trader
Somewhere, Delaware, USA
 
Experience: Intermediate
Platform: MultiCharts
Broker: Barchart.com
Trading: Everything, it all tastes like chicken
 
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MiniP View Post
I just spent the weekend trying to convince a new trader that the $3500 MA crossover strat they just bought will not work in the long run. He was only worried about making money and after going blue in the face trying to explain Risk and why you shouldn't try and trade 50+ contracts on something that hasn't been back tested or ran in a Live situation I finally gave up. The statement above is one of the best I've seen on here.

Once someone blows an account 3 or 4 times they then understand that preserving capital is #1

-P

I wholeheartedly agreed. I have seen 100's of beautifully backtested systems totally crash and burn when traded live, victims of curve-fitting and over-optimization. Trading also takes a ton of patience and more trial-and-error, and money management. That is why we've been able to stay afloat for so long: resisting the temptation to put all chips in.

~vmodus

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  #42 (permalink)
 forestcall 
Tokushima, Japan
 
Experience: Beginner
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vmodus View Post

~vmodus

The issue of why all of the fancy indicators donít work is because of the large investors. Using https://bookmap.com/ combined with moving averages, resistance points, vwap and other core market concepts will dramatically change your success ratio.

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  #43 (permalink)
 4tison 
PhuKet Island / Thailand
 
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KyronC View Post
Can anyone actually prove to me that they have been consistently making money with futures? (ES,RTY,NQ,GC,CL) So far I'm yet to meet someone who is making money who isn't trying to sell me something :/

Hi there, Kyron:

Did you receive any half-way satisfactory answer as yet?

The best way to find out if a guy or gal truly
knows how to trade live or not, is....

to ask to sit with them for one week
to see how a trade is selected, executed and concluded....

if you can see with your eyes, how each claimant operates
in real time, and if he/she can satisfy your criteria....

that is the best proof, real proof, much better than
any certified statement or any toy owned ....

What do you think, Kyron?

[email protected]

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  #44 (permalink)
Godzilla
Brisbane, Australia
 
 
Posts: 206 since Nov 2013
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KyronC View Post
Can anyone actually prove to me that they have been consistently making money with futures? (ES,RTY,NQ,GC,CL) So far I'm yet to meet someone who is making money who isn't trying to sell me something :/

https://priceactiontradingsystem.com/

Mack is the ONLY seriously profitable trader not pushing anything (he has a manual for $99 but does not push it at all) - watch his daily YT vids on the ES....absolutely priceless....many traders have turned profitable after picking up his patterns/methods. He is the REAL deal.
You can read my trading journal of my Hang Seng futures journey if you wish where I apply PATS in real-time.
I would have saved myself thousands of $$$ and years of pain if I had just learnt these methods earlier.

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  #45 (permalink)
 forestcall 
Tokushima, Japan
 
Experience: Beginner
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Trading: Futures + Stocks
 
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Godzilla View Post
https://priceactiontradingsystem.com/

Mack is the ONLY seriously profitable trader not pushing anything (he has a manual for $99 but does not push it at all) - watch his daily YT vids on the ES....absolutely priceless....many traders have turned profitable after picking up his patterns/methods. He is the REAL deal.
You can read my trading journal of my Hang Seng futures journey if you wish where I apply PATS in real-time.
I would have saved myself thousands of $$$ and years of pain if I had just learnt these methods earlier.

What is his YT channel?
Tks!

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  #46 (permalink)
Godzilla
Brisbane, Australia
 
 
Posts: 206 since Nov 2013
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forestcall View Post
What is his YT channel?
Tks!

[yt]https://www.youtube.com/channel/UCQ3D2_YyX3BSalVUdZjkGRQ[/yt]
pure gold.....you need to review a few dozen then it all starts to make sense..
buy at support ,sell at resistance
identify trending vs rangebound
spot the signal bar -> at the key-entry-point..
pull the trigger

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  #47 (permalink)
 forestcall 
Tokushima, Japan
 
Experience: Beginner
Platform: Tradovate + Tradingview
Trading: Futures + Stocks
 
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Posts: 57 since Jun 2020
Thanks: 65 given, 102 received

For the heck of it I signup for his monthly subscription. Im always eager to learn from experienced Traders.


Godzilla View Post
[yt]https://www.youtube.com/channel/UCQ3D2_YyX3BSalVUdZjkGRQ[/yt]
pure gold.....you need to review a few dozen then it all starts to make sense..
buy at support ,sell at resistance
identify trending vs rangebound
spot the signal bar -> at the key-entry-point..
pull the trigger


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  #48 (permalink)
2CentWorth
Columbus ohio
 
 
Posts: 1 since May 2017
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I have been trading the ES.. options, at first I tried to do spreads, but ran into margin issues. I have noticed when the Volubility is high I could trade a single long option , buy it, and ride the ES.. move and Sell for some profit. Just before the last down move the vol dried up and so did the strategy ( whipped sawed down my account ). Have to move farter out in time and deeper into the money ( more capital tied up ) Moved back to XSP options just in time for the down move. Evaluating my next move. Keep evaluating....

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  #49 (permalink)
 OUrocketman 
Oklahoma City, Oklahoma
 
Experience: Beginner
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Broker: Tradestation
Trading: MES, MNQ, MGC
 
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KyronC View Post
Can anyone actually prove to me that they have been consistently making money with futures? (ES,RTY,NQ,GC,CL) So far I'm yet to meet someone who is making money who isn't trying to sell me something :/

Greetings, KyronC,

I'm definitely convinced it's possible for people to systematically trade futures for profit even though I've only actually been trading live for one month.

I've been researching systematic trading in my own way for almost 10 years prior to risking a single cent. I'm an engineer professionally and believe in doing your homework up front. I also believe in having sound simulation practices and that having such practices can make trading a real account not "feel" any different than simulation trading. I've sim traded for about 6 months and invested nearly 10 years in developing my process. As a result, I have very high confidence in it, and will be able to stand by it when the waters get rough provided the system stays within statistical expectations. (Never trust anyone that says they can't or won't lose...Markets are incredibly nonstationary, meaning their underlying mechanics are not fixed.)

I transitioned to live trading last month and have attached my first broker statement. I began with a little over $10K in the account.

Your journey doesn't have to look like mine or anyone else's on this forum. Only you can really determine what is the right journey for you. I am a fan of automated approaches for several reasons:

1) You can hold that day job and not feel compelled to achieve an earnings quota or hit any forced target
2) You aren't tethered to the pc all day.
3) Your setup will be uber simple. My trading office setup is an iphone screen when I'm on the go or at most a laptop screen.
4) Systematic actively managed approaches tend to be noncorrelated to buy and hold / value investing and can complement larger portfolios quite well

I wish you the best of luck on your journey! If you are looking for a great treatise on automated trading, I can wholeheartedly recommend Kevin Davey's book on the subject. Please note I am not affiliated with Mr. Davey in any regard, but he has a lot of great content which illustrates the nuances for when "out of sample data" turns into in sample data based on steps the system developer may take in his or her analysis.

Best Wishes,

OUrocketman


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  #50 (permalink)
 KyronC 
Nottingham, United Kingdom
 
Experience: Beginner
Platform: NT8
Trading: MES, M2K
 
Posts: 24 since Jun 2020
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Quoting 

Best Wishes

Thank you so much! I can't tell you how much it means to me to hear from a regular person. It was pretty naive of me to write this thread, so I really appreciate you reaching out!

Thanks again,
Kyron

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