Short term TF trading - Trading Journals | futures io social day trading
futures io futures trading


Short term TF trading
Updated: Views / Replies:84,776 / 797
Created: by indextrader7 Attachments:289

Welcome to futures io.

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

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

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

Reply
 289  
 
Thread Tools Search this Thread
 

Short term TF trading

  #541 (permalink)
Trading Apprentice
Dallas
 
Futures Experience: Advanced
Platform: Tradestation, Ensign
Favorite Futures: ES
 
Posts: 11 since Jul 2011
Thanks: 2 given, 3 received


indextrader7 View Post
Well, I got out of this short trade too early for sure. I just didn't like the way price action was shaping up with the small body candles, seemed like the bears were struggling to win.

Not to worry. I've done my job. I've managed risk. Endless more opportunities abound.

So is that your only trade today?

Reply With Quote
 
  #542 (permalink)
Trading Apprentice
Dallas
 
Futures Experience: Advanced
Platform: Tradestation, Ensign
Favorite Futures: ES
 
Posts: 11 since Jul 2011
Thanks: 2 given, 3 received

Question to those that add to winners. If your initial size is X, how high do you average in? 2X, 3X, 4X+?

Reply With Quote
 
  #543 (permalink)
Elite Member
Georgia, US
 
Futures Experience: None
Platform: Various
Favorite Futures: Various
 
josh's Avatar
 
Posts: 4,897 since Jan 2011
Thanks: 5,143 given, 11,242 received



stok View Post
Question to those that add to winners. If your initial size is X, how high do you average in? 2X, 3X, 4X+?

As long as adding doesn't cause the average to be such that it becomes a losing trade (i.e., when adding to a long, the average should still be below the stop), then add to your heart's content. Personally I try to get more on in the beginning. So if initial size is X, will add X/2 and again X/2 or X/3.

I am trying to improve my ability to scale in and out in the same trade sequence. So I'm short, and have scaled out at two good points, and have scaled back in at one, and finally scaled back out. It's quite psychologically difficult to do so, because not only are you watching unrealized profits evaporate, you area worsening your average price as you add. But if you reduce along the way, you bank profits. Combining adding with reducing can, IMO, be a great way to stay in the market on a day like today without just praying that it keeps going--taking profits, and then getting back in at appropriate places, as long as the premise is still valid, and the market is still confirming..


Last edited by josh; July 24th, 2012 at 04:20 PM.
Reply With Quote
The following 2 users say Thank You to josh for this post:
 
  #544 (permalink)
Membership Temporarily Revoked
Birmingham, AL
 
Futures Experience: Advanced
Platform: Sierra
Broker/Data: several
Favorite Futures: several
 
Posts: 1,065 since Apr 2012
Thanks: 713 given, 2,758 received


stok View Post
So is that your only trade today?

No, I had several others. Hopefully will get a review up here.


stok View Post
Question to those that add to winners. If your initial size is X, how high do you average in? 2X, 3X, 4X+?

I don't have hard rules on this. Most of the time I go by equal increments (long 4, add 4, add 4, etc)

Reply With Quote
 
  #545 (permalink)
Membership Temporarily Revoked
Birmingham, AL
 
Futures Experience: Advanced
Platform: Sierra
Broker/Data: several
Favorite Futures: several
 
Posts: 1,065 since Apr 2012
Thanks: 713 given, 2,758 received

Question

If you were going to develop a role for:

- a trading risk manager
- physically in the room with you (has his own computer setup/monitors), but a remote option would be a plus.
- using whatever software/hardware necessary to
- monitor individual trade risk (making sure it didn't exceed thresholds)
- monitor daily loss timeout threshold and daily loss stop trading threshold
- also monitor basic trading rules such as checking logic behind entries and making sure stops aren't widened and positions aren't doubled down.

How would you PHYSICALLY set this arrangement up. Ninjatrader doesn't allow multiple versions of the same account running simultaneously, so the only idea I have would be to run a duplicate image of one of my monitors to a monitor of his, so he can monitor something like open p/l, cumulative p/l, and a chart (which would show position size and stop placement). Screen sharing software is another idea, as well as solves the remote problem.

Any thoughts on this are much welcomed and appreciated.

Reply With Quote
 
  #546 (permalink)
Elite Member
Georgia, US
 
Futures Experience: None
Platform: Various
Favorite Futures: Various
 
josh's Avatar
 
Posts: 4,897 since Jan 2011
Thanks: 5,143 given, 11,242 received


indextrader7 View Post
If you were going to develop a role for:

I suppose the remote software is a reasonable idea--I use TeamViewer for this. Free, iOS and Android versions as well. But just for someone physically in the room, a mirrored monitor as you mention might do the trick. I have to ask, what are you trying to do here?

Reply With Quote
The following user says Thank You to josh for this post:
 
  #547 (permalink)
Elite Member
London England
 
Futures Experience: Beginner
Platform: Metatrader
Favorite Futures: Spot $
 
Posts: 90 since Apr 2012
Thanks: 1,073 given, 135 received


indextrader7 View Post
If you were going to develop a role for:

- a trading risk manager
- physically in the room with you (has his own computer setup/monitors), but a remote option would be a plus.
- using whatever software/hardware necessary to
- monitor individual trade risk (making sure it didn't exceed thresholds)
- monitor daily loss timeout threshold and daily loss stop trading threshold
- also monitor basic trading rules such as checking logic behind entries and making sure stops aren't widened and positions aren't doubled down.

How would you PHYSICALLY set this arrangement up. Ninjatrader doesn't allow multiple versions of the same account running simultaneously, so the only idea I have would be to run a duplicate image of one of my monitors to a monitor of his, so he can monitor something like open p/l, cumulative p/l, and a chart (which would show position size and stop placement). Screen sharing software is another idea, as well as solves the remote problem.

Any thoughts on this are much welcomed and appreciated.

For physically in the room you can get a VGA splitter cable or whatever one is right for your screen that will just split the image onto another screen so it will just look exactly the same as yours.

For remote then screen sharing software would work best.

Reply With Quote
The following user says Thank You to cmmichaels for this post:
 
  #548 (permalink)
Membership Temporarily Revoked
Birmingham, AL
 
Futures Experience: Advanced
Platform: Sierra
Broker/Data: several
Favorite Futures: several
 
Posts: 1,065 since Apr 2012
Thanks: 713 given, 2,758 received

I'd love to hear if anyone has original ideas outside of what I suggested as possibilities. There may not be anything else, but anything strikes you please share!

Reply With Quote
 
  #549 (permalink)
Membership Temporarily Revoked
Birmingham, AL
 
Futures Experience: Advanced
Platform: Sierra
Broker/Data: several
Favorite Futures: several
 
Posts: 1,065 since Apr 2012
Thanks: 713 given, 2,758 received

On more of a trading note, and related to this journal, I wanted to share something. People are often asking me about learning curve, and what made the tipping point to successful consistent trading.

I CAN'T SPEAK HIGHLY ENOUGH OF DAILY PROCESS GOALS.

For so long I begged and pleaded and demanded of myself to be a good trader, make money, don't make this mistake or that blunder. I would sit down with the mindset of trading well, or making money, or following a system, etc.

The more I think about it, the more headway I started to make once I came up with a daily PROCESS goal. For example.. after reviewing the day's trades, I would decide to make tomorrow's process goal to keep all stops within 20 ticks, or make sure every trade has an attached stop and target order, or make sure I have a written down explanation for every trade taken, or wait for the candle close to take a signal, etc, etc

This is still to this day of utter importance to my trading. I find that when my results start to be less than stellar, it's due to me having strayed away from a consistent review process, documented trades, and using that information to come up with 1 or 2 process goals for the next trading day. Win or lose don't care... follow the day's process goal to the death. That's how I really achieve peak performance.

Hope that helps someone.

Reply With Quote
The following 13 users say Thank You to indextrader7 for this post:
 
  #550 (permalink)
Elite Member
Milan Italy
 
Futures Experience: Intermediate
Platform: Ninjatrader, Sierra Chart
Favorite Futures: ES
 
Posts: 523 since Feb 2010
Thanks: 470 given, 629 received


If you get your broker to give you a second log-in for the same account, you can connect two instances of NT (on different machines) to the same account.

Your risk management has always looked solid to me, except when you talked about "loading up" on a "day-saving" trade, which set off alarm bells.

On a separate note, I have been exploring NT's stats via Excel, and I can't see the logic in NT's MAE/MFE calcs when you are scaling into and out of a trade. Even the reporting by individual contract is inaccurate. So the only way I can see to get these stats accurately is to go back over the bars (I'm thinking of adding a 1-tick range series) and calculate them myself. Have you (or anyone else) also found this, or am I missing something?

Reply With Quote
The following user says Thank You to futuretrader for this post:

Reply



futures io > > > Short term TF trading

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Spanish Short-Term Bill Yields Jump Dramatically Quick Summary News and Current Events 0 November 22nd, 2011 07:00 AM
very short-term "Swing" trading heywally The Elite Circle 2 May 13th, 2011 02:30 PM
Short term trading - ticks, fills and amount of trades Twiddle Beginners and Introductions 8 October 30th, 2010 10:16 PM
SHORT TERM trading instruments (5m or lower) ikeaboy Traders Hideout 12 August 14th, 2010 01:26 PM
Is there a big difference between trading long and trading short ? kittyan Traders Hideout 16 July 30th, 2010 07:19 AM


All times are GMT -4. The time now is 01:22 AM.

Copyright © 2017 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
Page generated 2017-12-18 in 0.15 seconds with 20 queries on phoenix via your IP 54.92.201.232