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Blowing Up
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Created: by ReaM Attachments:5

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Blowing Up

  #21 (permalink)
Elite Member
desert CA
 
Futures Experience: Intermediate
Platform: NT7, TOS
Broker/Data: AMP/wCQG, TDA
Favorite Futures: CL,YM
 
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I never had TT. But I moved to Zenfire from ThinkOrSwim. (now TOS is a little better). Zenfire is fast and decent. However there are freezeups once in a while on occasion. In 8 months using zenfire, I experienced personally 2 freezeups. The last one was about a month ago. It was frozen for about 40 minutes around 8am EST. As usual my broker said it was nothing to do with them, and the tradedesk guy was grumpy.

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  #22 (permalink)
Elite, not Elitist :)
San Diego
 
Futures Experience: Beginner
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So what happened with the Journal? No trading yet?

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  #23 (permalink)
Trading for Fun
Los Angeles
 
Futures Experience: Advanced
Platform: x_trader
Favorite Futures: Stocks
 
ReaM's Avatar
 
Posts: 127 since Mar 2011
Thanks: 96 given, 95 received


Hello,

I will only update once a week, I don't want my ego to be fed by wins and instantly post things so I'll keep it that way. Fridays seem to be good for that. I am done for the week.

Trading has been a disaster, I am only about +$370 in plus after about 80 round turns.

The reason for bad trading is mistakes I made.

All mistakes I made:

-Traded EURUSD instead of something else...
-On 22 of February I fell asleep with a short in German Bund... (a trade which would have been a winner had I at least considered a take profit)
-On 29 of February I was not filled, I did not understand why and I clicked market sell and got filled 13 ticks away. I used to trade currencies with bucket shops and it was possible to control slippage, I have no idea how to do it with multicharts but I am never market order anything again.
-I noticed opened position which I never entered, probably accidently clicked but they were not costly.
-I did not take most of the trades I should have (but I had good profits so I did not force the trades) and I traded with half the risk I planned.
-Closed all my trades during 1st week too early.
-I have a very old AMD athlon PC, my computer crashed many times and twice with an open position.

Besides those very costly mistakes I don't remember loosing once, but those wiped pretty much all my profits. Kinda scary to wake up and see you have an open position with -$440.

To be honest, I think I can make a thousand a day if I double my risk and take all trades. I am scared to loose everything at once because of my lack of experience with the software. I am actually happy I traded the way I have, because I will not repeat any of those mistakes again (except of falling asleep haha). Maybe next week I am going full risk, we'll see. My plan is to take great risks with small account until maybe I have 100K (yes, dream on^^) and then lowering it.


Last edited by ReaM; March 2nd, 2012 at 01:47 PM.
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  #24 (permalink)
Trading for Fun
Los Angeles
 
Futures Experience: Advanced
Platform: x_trader
Favorite Futures: Stocks
 
ReaM's Avatar
 
Posts: 127 since Mar 2011
Thanks: 96 given, 95 received

Before I do anything stupid, can someone explain me expiration date for Bobl?

Eurex - Fixed Income Derivatives


Last trading day is two days before tenth day of expiration month. Can't they simply write a date or something? Because I am stupid like that....2 days before thenth day..cmon!

And for T-Bond... http://www.cmegroup.com/trading/interest-rates/us-treasury/30-year-us-treasury-b....html#prodType=undefined


As for trading, I am not happy with it, but I am in plus (today also in plus a little over $100) it is not on the diagram yet.

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Last edited by ReaM; March 6th, 2012 at 09:16 AM.
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  #25 (permalink)
Elite Member
Berlin, Europe
 
Futures Experience: Advanced
Platform: NinjaTrader, MultiCharts
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ReaM View Post
Before I do anything stupid, can someone explain me expiration date for Bobl?

Eurex - Fixed Income Derivatives


Last trading day is two days before tenth day of expiration month. Can't they simply write a date or something? Because I am stupid like that....2 days before thenth day..cmon!

And for T-Bond... U.S. Treasury Bond

As for trading, I am not happy with it, but I am in plus (today also in plus a little over $100) it is not on the diagram yet.


Last Trading Date, First Notice Date and Volume Crossover

For futures there is an expiry date, also called the last trade date. But you do not want to wait until this date for several reasons

-> the front month may already dry up prior to expiry
-> as a holder of a long position you may be assigned by the exchange for delivery after the first notice date

If you want to avoid that you will get a bunch of T-Notes or Bund-Schätze, you need to close out your position prior to the first notice day, if you are long. As a general rule any position should be rolled into the next liquid front month

-> prior to the last trade date
-> prior to first notice date
-> latest at volume crossover (trading volume has shifted to the new front month)


Example FGBM (BOBL Futures)

Apply these rules to BOBL futures:

-> contract expiry for FGBM 03-12 is March 8, 2012
-> first notice date for FGBM 03-12 is March 8, 2012
-> volume crossover is typically one day prior to contract expiry

This means that I expect that volume shifts to the new contract on Wednesday, March 7. On that day I would close out any position and roll it to the new front month contract, which is FGBM 06-12.


Want to Purchase T-Bonds and T-Notes? Get Delivered.

For ZB, and ZN volume has rolled on last Wednesday, February 29. That was first notice date, so if you are still holding a long position in ZB or ZN, you are running the risk of receiving a bunch of T-Bonds or T-Notes every day.

Most brokers close out the positions of their less well-informed clients, before a physical delivery takes place, which means that they will not allow you to hold any position on first notice day.


Last edited by Fat Tails; March 6th, 2012 at 04:20 PM.
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  #26 (permalink)
Trading for Fun
Los Angeles
 
Futures Experience: Advanced
Platform: x_trader
Favorite Futures: Stocks
 
ReaM's Avatar
 
Posts: 127 since Mar 2011
Thanks: 96 given, 95 received

invaluable information! Thank you so much! This kind of knowledge is exactly what I lack.


Trading today was a disaster, I am still couple of dollars over hundred in plus. I did not take 4! signals and I did not get filled on one. It is amazing how many robots are trading there, you ccould even calculate how much of the orders they attribute to (I'd need to record the DOM for that and then analyze the video).

I am still afraid, which is BAAAD, because when losing trades will come they will finish me. On the other hand, I had 7 or so trades today and all of which were loosers but I handled them nicely.

+100 only today :/

Yesterday was also a funny day, couple of support lines failed and you saw people trying to get out later in the day which made price move nowhere (each time they were offered a good price, they would instantly take it and price did not move far because of that)

If anyone interested in how I trade, I won't be able to help^^, it is 100% discretionary, I have no rules, no specific money management rules, no exit/entry rules, no specific instrument. The main thing I use is price (the movement of price in the DOM), I don't use indicators or anything like that.

No, I did not trade T-Bond, because it's 31,25 dollar per tick, but I will.

First time I sim traded futures was with Open Ecry Demo, this is where you get instant fills without queue. I made each day $500+ trading one contract, because I basically was two ticks in plus on each trade compared to live trading (ninja does take queue into account). This clearly shows markets are not random and if given good execution and low commissions you can actually do pretty well. So those with HFT tech can take a huge advantage on getting the price near market. I wish I could programm things^^. If I weren't scared, I think I can make more ticks per day live with one contract than the daily range, but I am afraid^^. I might be wrong, but this is all a test. Even if I don't take the trade, my initial thought is still correct about what market is going to do, and if I am not correct, then it is not that often and a loss is nothing bad.

Sorry everyone I modified this post 20 times.... I wish I could modify the very first post, but I can't.

Danke, nochmal!

I need to double my account each month, otherwise I am not gonna make it.


Last edited by ReaM; March 6th, 2012 at 01:06 PM.
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  #27 (permalink)
Trading for Fun
Los Angeles
 
Futures Experience: Advanced
Platform: x_trader
Favorite Futures: Stocks
 
ReaM's Avatar
 
Posts: 127 since Mar 2011
Thanks: 96 given, 95 received

http://2.bp.blogspot.com/--ZWUdG2csNo/TyLgjCw6i4I/AAAAAAAAArg/BKh38N5ynDE/s1600/bonds89.PNG

This is what a bond pit looks like? There were no charts up somewhere there in the late 80s right? What do you see? You see price for sure, but do you see bids and offers like in the dom or you just have to find someone to trade with?

Today +70 as of now... But again I did not take two trades. I think the loser mentality I have right now will only go away if I actually loose once (a loss that will hurt me), so I hope to catch a loss.

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  #28 (permalink)
Elite Member
Chicago Illinois USA
 
Futures Experience: Advanced
Platform: Ninja Trader
Broker/Data: IB
Favorite Futures: duh hammer!
 
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Posts: 2,084 since Aug 2011
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bis and offers all over the place...


ReaM View Post
http://2.bp.blogspot.com/--ZWUdG2csNo/TyLgjCw6i4I/AAAAAAAAArg/BKh38N5ynDE/s1600/bonds89.PNG

This is what a bond pit looks like? There were no charts up somewhere there in the late 80s right? What do you see? You see price for sure, but do you see bids and offers like in the dom or you just have to find someone to trade with?

Today +70 as of now... But again I did not take two trades. I think the loser mentality I have right now will only go away if I actually loose once (a loss that will hurt me), so I hope to catch a loss.

You are kidding, right? You "see" "paper" too and all kinds of other information not seen or only guessed at by a computer screen.

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  #29 (permalink)
Trading for Fun
Los Angeles
 
Futures Experience: Advanced
Platform: x_trader
Favorite Futures: Stocks
 
ReaM's Avatar
 
Posts: 127 since Mar 2011
Thanks: 96 given, 95 received

That's cool!

But me trading in the pit would require me being in several places at the same time so I can cover all instruments... Anyone knows if cloning myself is legal in China?

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  #30 (permalink)
Elite Member
Chicago Illinois USA
 
Futures Experience: Advanced
Platform: Ninja Trader
Broker/Data: IB
Favorite Futures: duh hammer!
 
wldman's Avatar
 
Posts: 2,084 since Aug 2011
Thanks: 974 given, 2,657 received

Right...


you are limited somewhat in the ability to trade different products from a trading crowd. The question was do you see bids and offers and the answer is YES. You probably have an idea about the enthusiasm at a specific price and which orders are week and which are firm. You probably have an idea about who the contra might be and their approximate cost basis. Who from a group or company is representing the bid or offer also says a great deal.

BTW, with the exception of the years at CBOE, where you make a market in numerous equities in a specific trading crowd, I've made a career trading ONE product at a time. That might be an interesting question for the forum...how many products do you trade? I'd bet that new traders trade the greatest number of products and that the wise old sages trade one or two products.

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