Trading fast markets - Trading Journals | futures io social day trading
futures io futures trading


Trading fast markets
Updated: Views / Replies:118,177 / 977
Created: by xelaar Attachments:517

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
 517  
 
Thread Tools Search this Thread
 

Trading fast markets

  #271 (permalink)
Elite Member
london
 
Futures Experience: Advanced
Platform: NinjaTrader
Favorite Futures: CL
 
Posts: 15 since Dec 2012
Thanks: 13 given, 5 received


wxsim1 View Post
what is a live trader Prep?

thanks

see below:


xelaar View Post
I have got an email from John Hoagland. Basically it's the same story as anybody else's: they are prepared to provide me with a live trading account pending my performance in LivePrep. So no news here. LivePrep must adhere to Junior Trader trading plan, which is standard, with distinction I have to trade minimum 10 days within 60 calendar days, my profit target is only 4500, DLL is 3000, WLL is 3000, MaxDD 4500.

I supposed to get a call from them, maybe tonight, I hope I will be able to convince them to make a slight change to the plan, since it cripples a bit my own risk management which I believe is more superior than theirs when used with my trading approach. Especially this rule about starting trading day with x lots and only increase or add when daily net profit is above 1000. That will essentially kill my opportunities to make money, because I only have few setups per day, and if I spend them all on small lot shots, when I get ammo finally it inevitable suggests I should take more shots but by this time likely good setups are already done and I might face a situation where I trade high quality setups with smaller position and take a loser from a worse setup on larger position. I am fine with this rule as long as word DAY there is replaced with work WEEK throughout the whole paragraph.



I understand the reason of this requirement but it is suited for discretionary traders, not system traders like I am, and it's intention is to allow trader to tune-in into the market and assumes trader take substantial number of trades through the day and his win probability is around 50%. In my case it does more harm than good, as I take few trades, tune-in is non-existent as each trade is totally a separate event, and trying to correlate result of previous trade with risk parameters of next trade is totally artificial and has no substance and only can reduce profitability.

We shall see how the interview goes. I am ready for this challenge and sure I won't fail it, unless market will get totally unsuitable for my approach, in this case most probable failure scenario is having a losing day larger than a winning day, I obviously can get a losing day maybe 1000 usd and if market gives me chuckles instead of bucks I might not get to the figure on a profitable day, especially being curtailed on position size.

I honestly have to say at this point, this is more and more just a challenge for me, seeing so many restrictions can be maddening but ultimately they channel your efforts to build yourself into a better trading shape, given that you really commit yourself to it. I take it like a personal challenge now that I need to pass to say I did it. After going through so many barriers I can see how one can easily get the necessary discipline and self-confidence to trade his own money.

I think this is the ultimate paradox that TST faces every day: people who pass all their quests with success are the ones who most likely will leave soon as they feel confident to trade on their own.



xelaar View Post
Finally had a conversation with Hoag. He's a nice guy, agreed, but it's hard to haggle with him on requirements and numbers. I understand that he has a rule set that is quite rigid to work with.

Well, as it laid out, LP does make a sense, as Hoag put it, it mimics live trading requirements for Junior trader. I would like a bit more freedom but I can work with what they gave me.

Basically it is a standard trading plan that can be found on their web with following numbers filled in:
1. Trading hours - we haggled but the best I could get was from 6AM to 3:10 PM, I understand why it is so - for Junior Trader there is a limit from 7AM, because someone is monitoring performance live. I can live with that.
2. Start a day with 5 lots until 1000 usd is built. That is bit crippling, I wanted at least 7 but it is what it is.
3. Max number of consecutive losers when in negative before pulling the brakes for a day: 3. That is what I offered, and I am fine with it.
5. Max draw down from daily profit high before quitting: 50%. It is fine again, and smart. I would cut probably earlier.

All in all, it would slow my process a bit, especially lot limited to 5 on most days, but again there are up to 40 trading days to trade and only 4500 to be gained, so no drama whatsoever. With 15 cars I could do that on one good day. And what to do after?

I plan to start LP on Tuesday.

This stage took a bit of time, I expected it to be somewhat faster, but have they got 3 traders to put to LP this week only that I know and maybe more. All in all I am ok with it, given that it mimics live trading environment rules, so a good chance to adjust and get used to.


Reply With Quote
The following 2 users say Thank You to vijidas for this post:
 
  #272 (permalink)
Elite Member
wa/ usa
 
Futures Experience: Intermediate
Platform: schwab, metatrader, OEC,T4,TDameritrade
Favorite Futures: CL ES 6C 6E
 
Posts: 254 since Oct 2012
Thanks: 197 given, 438 received

I downloaded their platform last night and wanted to get used to it before I made up my mind to do that Combine (I was leaning towards it).

All I can say "WHAT A HORRIBLE P.O.S." I can see traders not used to it failing due to errors and such. I had listened to one webinar earlier and heard someone say they wont even try it unless they added Ninja Trader to their combine and I was wondering "well, familiarity with a platform shouldnt be a problem-the guys just not comfortable with new platform". But I am all the wiser now. Its like going into battle with a sword when the other side has machineguns.

Anyways, sorry for my rant but I have new found respect for those of you who pass the combine.

Reply With Quote
The following user says Thank You to garyboy275 for this post:
 
  #273 (permalink)
Elite Member
prague, czech republic
 
Futures Experience: Intermediate
Platform: NT7, MT4
Broker/Data: LMAX
Favorite Futures: DAX, Gold, Euro
 
xelaar's Avatar
 
Posts: 1,517 since Feb 2013
Thanks: 1,739 given, 2,592 received



garyboy275 View Post
I downloaded their platform last night and wanted to get used to it before I made up my mind to do that Combine (I was leaning towards it).

All I can say "WHAT A HORRIBLE P.O.S." I can see traders not used to it failing due to errors and such. I had listened to one webinar earlier and heard someone say they wont even try it unless they added Ninja Trader to their combine and I was wondering "well, familiarity with a platform shouldnt be a problem-the guys just not comfortable with new platform". But I am all the wiser now. Its like going into battle with a sword when the other side has machineguns.

Anyways, sorry for my rant but I have new found respect for those of you who pass the combine.

Nothing personal, but I always find funny when people are complaining about tools saying they can't do this unless this and that. I took 2 weeks trial to learn the platform, got my questions answered by using the manual and asked Tim Fry a couple of questions. Even despite limitation I love this platform for its effective simplicity. You hardly can trade that fast as on T4, it keeps all logic on server so the speed is unbeatable so as reliability. It never failed for me during my almost 2 months of everyday trading. Can't say as well about Multicharts and Ninja. I feel I would certainly trust T4 trading my own live money than to Ninja for example. I only have a similar level of trust in OEC proprietary trading platform.

I smile when I hear people are saying I will wait when they add Ninja, etc.
Just my IMO.

Reply With Quote
The following 5 users say Thank You to xelaar for this post:
 
  #274 (permalink)
Elite Member
Guildford Surrey UK
 
Futures Experience: Intermediate
Platform: NinjaTrader, IG SpreadBetting with ProRealTimeCharts
Favorite Futures: DAX CL NQ EUR/USD
 
Posts: 82 since Nov 2012
Thanks: 356 given, 128 received


xelaar View Post
It never failed for me during my almost 2 months of everyday trading. Can't say as well about Multicharts and Ninja. I feel I would certainly trust T4 trading my own live money than to Ninja for example.

Reassuring. Thanks for that

Reply With Quote
The following user says Thank You to jmsUK for this post:
 
  #275 (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


garyboy275 View Post
I downloaded their platform last night and wanted to get used to it before I made up my mind to do that Combine (I was leaning towards it).

All I can say "WHAT A HORRIBLE P.O.S." I can see traders not used to it failing due to errors and such. I had listened to one webinar earlier and heard someone say they wont even try it unless they added Ninja Trader to their combine and I was wondering "well, familiarity with a platform shouldnt be a problem-the guys just not comfortable with new platform". But I am all the wiser now. Its like going into battle with a sword when the other side has machineguns.

Anyways, sorry for my rant but I have new found respect for those of you who pass the combine.

Don't you think the hour or so you spent with it is not really sufficient time to determine that it's a "Horrible POS"? There are several things about it that I do not like either, and I do not use it regularly. However, with many thousands and millions of dollars running through the floor of the CME, they all use either T4 or XTrader. I'm not saying that means that these programs are necessarily better than what you prefer, but many professional traders use this "Horrible POS," so maybe it has some benefits, enough to justify trusting millions of dollars to its operation?

If T4 is a sword, can you tell me which platform is a machine gun?

Reply With Quote
The following 4 users say Thank You to josh for this post:
 
  #276 (permalink)
Market Wizard
Sarasota FL
 
Futures Experience: Intermediate
Platform: NinjaTrader, Sierra Chart
Favorite Futures: ES
 
Posts: 3,641 since Jan 2013
Thanks: 26,772 given, 11,129 received
Forum Reputation: Legendary

Just to add to the T4 vs. Ninja (or whatever) discussion, I have simply used Ninja for my charting and entered the trades in the T4 DOM. No problem. Very simple.

You do give up Chart Trader and ATM, both of which are convenient. But if you can trade effectively with them, you can trade effectively without them.

You also have to get familiar with the settings for T4 and how to do things; not everything will be what you think at first. Just read the extensive help and ask questions if you need to (there's a platform Q&A on their Squawk Radio site most days).

I think it really is just a matter of getting used to it.

Reply With Quote
The following 3 users say Thank You to bobwest for this post:
 
  #277 (permalink)
Elite Member
wa/ usa
 
Futures Experience: Intermediate
Platform: schwab, metatrader, OEC,T4,TDameritrade
Favorite Futures: CL ES 6C 6E
 
Posts: 254 since Oct 2012
Thanks: 197 given, 438 received


josh View Post

If T4 is a sword, can you tell me which platform is a machine gun?

Have you tried OEC ? I am not a fan of Ninja Trader since I ve never used it myself -I was just quoting someone and what my thoughts were during the webinar. Trading CL with T4 especially today--goodluck with it. Imagine when its really flying on #'s or some news.

As far as making money and justifying it with Millions of $$ flowing thru it--my simple answer is sometimes you dont know any better. I personally have gone thru with it on many things-such as charts, platforms, instruments etc.

Reply With Quote
The following user says Thank You to garyboy275 for this post:
 
  #278 (permalink)
Elite Member
prague, czech republic
 
Futures Experience: Intermediate
Platform: NT7, MT4
Broker/Data: LMAX
Favorite Futures: DAX, Gold, Euro
 
xelaar's Avatar
 
Posts: 1,517 since Feb 2013
Thanks: 1,739 given, 2,592 received


garyboy275 View Post
Have you tried OEC ? I am not a fan of Ninja Trader since I ve never used it myself -I was just quoting someone and what my thoughts were during the webinar. Trading CL with T4 especially today--goodluck with it. Imagine when its really flying on #'s or some news.

As far as making money and justifying it with Millions of $$ flowing thru it--my simple answer is sometimes you dont know any better. I personally have gone thru with it on many things-such as charts, platforms, instruments etc.

OEC is next best. But I did have few troubles with freezing charts. But it is real good. If you are a swing trader and use different OCO profiles, OEC is as good as Ninja, faster, more stable and it is free too.

T4 is for traders with more simple trade management. There it's crazily fast, reliable and unbeatable. But sure it doesn't have bells and whistles. I had to compromise my trade management a bit too, I would prefer to close a part of my position fast instead of flattening out, by fast I mean real fast within a second, but it's not as easy in T4, hence I flatten.

I believe people who need more than T4 offers use Sierra.

BTW, not sure about your problems trading Crude with T4, I trade gold with it, and can't believe how great it works.

Reply With Quote
The following 2 users say Thank You to xelaar for this post:
 
  #279 (permalink)
Elite Member
wa/ usa
 
Futures Experience: Intermediate
Platform: schwab, metatrader, OEC,T4,TDameritrade
Favorite Futures: CL ES 6C 6E
 
Posts: 254 since Oct 2012
Thanks: 197 given, 438 received

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


How hard can the combine be ? Max drawdown during the first hour did hit $550 or so. Trading only max 3 lots.


Anyways, congrats on your conbine and keep us posted on LP. Goodluck

Reply With Quote
The following 3 users say Thank You to garyboy275 for this post:
 
  #280 (permalink)
Elite Member
prague, czech republic
 
Futures Experience: Intermediate
Platform: NT7, MT4
Broker/Data: LMAX
Favorite Futures: DAX, Gold, Euro
 
xelaar's Avatar
 
Posts: 1,517 since Feb 2013
Thanks: 1,739 given, 2,592 received



garyboy275 View Post
Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


How hard can the combine be ? Max drawdown during the first hour did hit $550 or so. Trading only max 3 lots.


Anyways, congrats on your conbine and keep us posted on LP. Goodluck

Looking forward to your funded trader interview soon.

Reply With Quote
The following 2 users say Thank You to xelaar for this post:

Reply



futures io > > > Trading fast markets

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
Trading Trendlines Across Markets: Futures Trading Journal sahbmt Elite Trading Journals 135 June 26th, 2013 03:59 PM
Markets with the Most Automated Trading!!! RJay Traders Hideout 6 April 2nd, 2011 12:02 PM
Trading correlated markets josh Traders Hideout 10 March 28th, 2011 11:59 PM
Any idea for fast frequency trading ? MyTraderAdvisor Elite Automated Trading 53 August 3rd, 2010 06:11 AM
Fast Brokers papa15 Reviews of Brokers and Data Feeds 7 July 20th, 2010 03:41 PM


All times are GMT -4. The time now is 07:47 PM.

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 2017-12-17 in 0.17 seconds with 20 queries on phoenix via your IP 54.163.209.109