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


Trading fast markets
Updated: Views / Replies:117,781 / 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

  #551 (permalink)
Trading Apprentice
thabazimbi limpopo/south africa
 
Futures Experience: Advanced
Platform: T4
Favorite Futures: Ultra Bond, Gold, Lean hog, Dow
 
Posts: 27 since Oct 2012
Thanks: 65 given, 89 received


Big Mike View Post
Do they publish these trading hour restrictions ahead of time?

Sent from my LG Optimus G Pro

Mike, the answer is no. Unfortunately things change a bit once you go live. I think there has been some discussion to bring things closer inline still to what is expected once trading on the live account.

There are restrictions on size, for instance I don't think anybody can trade a 15 lot out of the gate, you first need to make cushion before you can do that.
Also there is a rule to be flat for economic numbers, it used to be like that in the combine but they have changed it so you can trade during numbers, but in the live account this is not possible.
Trading hours I am not very sure about, you need to get approved for the hours you intend to work but I guess it is favored that you trade US session hours out of the gate so you can be monitored.
Then there is the weekly loss limit and also the 10 day review where you best be positive in your account or things like the largest losing day vs winning day that caught Xelaar out comes into play.

I do think scalping is not the way to go here but one must be comfortable taking base hits. Base hits not being scalp trades with very tight stop losses but rather 2 points stop and target ES, 20 ticks Dow, 15 ticks CL and Gold, that kind of thing. Once live there is a great emphasis on building the account slowly and grinding it out. No expectations for big days but a lot of focus on protecting down side risk.

As long as the account is positive you don't have much to worry about from their side. Just keep trading well and make some money. I think getting to the senior traders level requires a lot of patience and control. You best forget about the money you put up in the combine and the time frame you did it in and shift your attention and focus to sustainability by being very patient with the rate the account grows and focusing on just trading to your best ability. Don't rush it as you are no longer required to make a certain amount of money in a certain amount of time. Trade small, trade less. Keep your losing days very small and very limited in number and you should be fine even if it takes much longer than what you would like.

Once a senior trader there are no more rules as such and you can do things differently if you wish, this is probably not such a great idea but the option is there for you to trade different markets, times, sizes or whatever.

It is a very long hard road to consistently make money in the futures market.
Ian

Reply With Quote
The following 8 users say Thank You to iankotze for this post:
 
  #552 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,238 since Jun 2009
Thanks: 29,350 given, 83,220 received

Obviously they should provide all the live restrictions upfront, since most people are doing this to get funded - something I disagree with but cannot change. I think people should be doing it for discipline and risk.



Sent from my LG Optimus G Pro

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
The following 4 users say Thank You to Big Mike for this post:
 
  #553 (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



Big Mike View Post
Obviously they should provide all the live restrictions upfront, since most people are doing this to get funded - something I disagree with but cannot change. I think people should be doing it for discipline and risk.




"I will not hit my loss limit (per day or per calendar week).
● I will not hit my max drawdown.
● I will not add to a losing trade.
● I will not hold positions into major economic releases.
● I will adhere to the trading hours.
● I will close my position(s) by 3:10 PM CST.
● I will not hold a position into the electronic close.
● At the start of my day I will trade only _____ lot(s) and will only add to my position or increase my
● size if my total Net P&L is greater than $500 or $1,000.
● I will stop trading for the day if my Net P&L is greater than $500 or $1,000 and my total Net P&L has
pulled back 50% off my high watermark (realized Net P&L high of the day).
● If my total Net P&L is negative for the day, I will stop trading if I experience 3 losing trades in a row.
My largest winning day will be greater than my largest losing day (realized end of day Net P&L). (Enforced
after 10 trading days)

● I will have a winning day percentage greater than 40, in the event that I hit 50% of my max drawdown
(realized end of day Net P&L)"

All these above are part of the trader agreement and requirements once you get funded.

Reply With Quote
The following 8 users say Thank You to garyboy275 for this post:
 
  #554 (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


Big Mike View Post
Just a reminder to everyone that @xelaar wasn't trading the same way he was during the combine.

This is a good lesson about how changes can affect you, and about how hard it is to be consistent with an ever changing market.

Mike

That is correct, Mike. However, I did not blow up, as I mentioned. I did not get even to 25% of maximum draw down and less than 30% of weekly drawdown. All I did I posted a losing day that was larger than my previous largest winning day, that was on day 11 and this rule is enforced after day 10. That was an error on my part in terms I did not realize I have to look backwards for the largest winning day, and was sure I could post a larger winning day in next 10 days. Of course, after I lost extra 30 ticks on that mess with rejected stop, that would be problematic as well. Not impossible, but hard.

Trade to live. Not live to trade.
Reply With Quote
The following 3 users say Thank You to xelaar for this post:
 
  #555 (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


iankotze View Post
Mike, the answer is no. Unfortunately things change a bit once you go live. I think there has been some discussion to bring things closer inline still to what is expected once trading on the live account.

There are restrictions on size, for instance I don't think anybody can trade a 15 lot out of the gate, you first need to make cushion before you can do that.
Also there is a rule to be flat for economic numbers, it used to be like that in the combine but they have changed it so you can trade during numbers, but in the live account this is not possible.
Trading hours I am not very sure about, you need to get approved for the hours you intend to work but I guess it is favored that you trade US session hours out of the gate so you can be monitored.
Then there is the weekly loss limit and also the 10 day review where you best be positive in your account or things like the largest losing day vs winning day that caught Xelaar out comes into play.

I do think scalping is not the way to go here but one must be comfortable taking base hits. Base hits not being scalp trades with very tight stop losses but rather 2 points stop and target ES, 20 ticks Dow, 15 ticks CL and Gold, that kind of thing. Once live there is a great emphasis on building the account slowly and grinding it out. No expectations for big days but a lot of focus on protecting down side risk.

As long as the account is positive you don't have much to worry about from their side. Just keep trading well and make some money. I think getting to the senior traders level requires a lot of patience and control. You best forget about the money you put up in the combine and the time frame you did it in and shift your attention and focus to sustainability by being very patient with the rate the account grows and focusing on just trading to your best ability. Don't rush it as you are no longer required to make a certain amount of money in a certain amount of time. Trade small, trade less. Keep your losing days very small and very limited in number and you should be fine even if it takes much longer than what you would like.

Once a senior trader there are no more rules as such and you can do things differently if you wish, this is probably not such a great idea but the option is there for you to trade different markets, times, sizes or whatever.

It is a very long hard road to consistently make money in the futures market.
Ian

Well, Ian, you summed it all. BTW, always enjoyed conversations with you in tst room. Gonna miss it!

Trade to live. Not live to trade.
Reply With Quote
 
  #556 (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


Ddawg View Post
Wow, I am blown away xelaar !!! Surely did not seem like you were in any trouble whatsoever, and then BAM!!! I am sorry to hear that a market event like this blew you up.

You had shown such focus and consistency, I too can't help but think that they should have figured out a way to keep you. I mean seriously, there are only 5% winning traders out there, and to just dump you??? I would have to say that it almost seems like they are trying to create failures with their program rather than successes.


Best wishes to you in whatever endeavor you should choose. I believe your grit, determination, and focus will bring you through to success.

Ddawg

Well, there are rule to be followed. I did violate one of them. So all is legit. It was equity partner's decision, Hoag was sympathetic with my case. I am sure I can win another combine with same method and get funded again (if they decide so, this is discretionary, not automatic), but in this case I will have to stick with one and one method that wins that combine. This is where I feel uneasy and not sure I want to put this limitation on myself. As Mike said, if I stuck with the method I traded most in combine and one I have started trading live for TST with, I would be still live and funded and most likely would already hit first threshold to allow trading more size. So it was a misjudgement on my part, where I introduced different risk profile for trades (not something totally new or untested), that put larger risk on any day comparing to my previous days, hence putting a larger losing day.

Trade to live. Not live to trade.
Reply With Quote
The following 5 users say Thank You to xelaar for this post:
 
  #557 (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

There is something I want to share about trading success in general, reinforced by TST adventure: the most important thing that contributes to your trading success is consistency. You need to do things in a very specific manner, that you tested and believe is working. In order to be able to do that, you need to write a trading plan that outlines your setup(-s), market state, etc, and need to file a trading log that will help you to remain consistent with trading plan, as you will review your log daily and weekly and see if you deviated from your plan. If you are capable of doing that, the rest is just technicality and can be mastered by 10 years old.

Trade to live. Not live to trade.
Reply With Quote
 
  #558 (permalink)
Market Wizard
Houston, Texas
 
Futures Experience: Advanced
Platform: NinjaTrader; BloodHound
Broker/Data: NinjaTrader Brokerage, Kinetick, Rithmic
Favorite Futures: ES, CL, 6E, UB, 6J, 6B, ZS
 
Posts: 921 since Oct 2012
Thanks: 672 given, 877 received


xelaar View Post
It was equity partner's decision, ... As Mike said, if I stuck with the method I traded most in combine and one I have started trading live for TST with, I would be still live and funded and most likely would already hit first threshold to allow trading more size.

1. Who was the equity partner? Has this been identified?

2. I disagree with Mike. You must have discretion to trade and not be hemlocked into one trading strategy.

I move for a motion for reconsideration to the unidentified equity partner. Xelaar was just starting out in the combine and had played by the rules given him, slowly building up the account, ergo, he was building small winning size days up until the WRB gap that knocked him out. Xelaar knows that scalping is not the way to trade gold, and prefers to position trade to build up large account balances. But he has been trading within the confines of the rules set forth in the program and I believe in everyone's opinion given on this trading forum that Xelaar deserves to have this decision reconsidered and allow Xelaar to rejoin the funded program. We need a 2 strike rule on this one.

Reply With Quote
 
  #559 (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


jlwade123 View Post
1. Who was the equity partner? Has this been identified?

2. I disagree with Mike. You must have discretion to trade and not be hemlocked into one trading strategy.

I move for a motion for reconsideration to the unidentified equity partner. Xelaar was just starting out in the combine and had played by the rules given him, slowly building up the account, ergo, he was building small winning size days up until the WRB gap that knocked him out. Xelaar knows that scalping is not the way to trade gold, and prefers to position trade to build up large account balances. But he has been trading within the confines of the rules set forth in the program and I believe in everyone's opinion given on this trading forum that Xelaar deserves to have this decision reconsidered and allow Xelaar to rejoin the funded program. We need a 2 strike rule on this one.

No that wasn't, I don't care really but I have some ideas. I uderstand you guys are frustrated by this example, but just use as it is, example, if you make a good plan ahead using my experience you will be much better off to avoid similar situation.

As for me, I can now enjoy the rest of the summer. Work on more swingy approach asking for larger profits, and will come back to live trading mid-September after a week of sailing. I have been chained with TST for many long months, time to enjoy freedom again!

Trade to live. Not live to trade.
Reply With Quote
The following 5 users say Thank You to xelaar for this post:
 
  #560 (permalink)
Elite Member
London England
 
Futures Experience: Beginner
Platform: Metatrader
Favorite Futures: Spot $
 
Posts: 90 since Apr 2012
Thanks: 1,073 given, 135 received



xelaar View Post
There is something I want to share about trading success in general, reinforced by TST adventure: the most important thing that contributes to your trading success is consistency. You need to do things in a very specific manner, that you tested and believe is working. In order to be able to do that, you need to write a trading plan that outlines your setup(-s), market state, etc, and need to file a trading log that will help you to remain consistent with trading plan, as you will review your log daily and weekly and see if you deviated from your plan. If you are capable of doing that, the rest is just technicality and can be mastered by 10 years old.

Sorry to hear about whats happened xelaar but no doubt this is now the start of an even better period in your trading. The above is an excellent post that I have taken a lot from so thank you, looking forward to reading about the next chapter in your trading.

Reply With Quote
The following user says Thank You to cmmichaels 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)

Linda Bradford Raschke: Reading The Tape

Elite only

Adam Grimes: TBA

Elite only

NinjaTrader: TBA

January

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 11:35 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 2017-12-12 in 0.17 seconds with 20 queries on phoenix via your IP 54.234.255.29