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BenG's trading journal - STIRS markets
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BenG's trading journal - STIRS markets

  #31 (permalink)
Elite Member
London, United Kingdom
 
Futures Experience: Intermediate
Platform: N/A
Broker/Data: Bloomberg
Favorite Futures: Energies
 
CobblersAwls's Avatar
 
Posts: 284 since Jul 2014
Thanks: 971 given, 363 received


BenG View Post
Hi CobblersAwls,

Hi, I'm still spreading but as it's been only in sim mode it has been very challenging to get backing, even in the UK. It's like trying to become an F1 racing driver. Most firms want you to trade your own money, or at least put a fair amount of money down (risk bond). If I had this available I would be all up for it, but unfortunately I don't have it available at this time so that leaves me with 3 choices of which 1 is considered not an option. The first choice is to gather the money together, which is the most logical choice to go for. The second choice would be to look for alternative ways of trading, end of day trading, swing trading etc anything one can do and still have a full time job, or the latter which I don't consider a choice is to quit. As I've got a family to look after I had to go for option 1 and 2 at the same time. 1 ultimately as I would like to day trade, and 2 for the period I've now entered into, where I need to go out every day to earn a living via other means other then trading. I'm still brainstorming to see how I can apply what I have learned so far, and mold it into a system that will work for me whilst being in full time employment. I see you're based in London. Are you a full time trader?

That's good to hear, at least you're finding success/progress on SIM. I know of a place that would consider you if you could show several months of live trading stats. You would only need to have traded the minimum size to show your method in action and illustrate that you have the psychological strength to trade live.

I don't trade full time unfortunately but that's my goal eventually. Currently I work in a related field in finance and work varying shifts to cover the different shifts. This allows me time to trade the EU or US open sometimes which is good. The rest of the time I just read a lot, make notes and prep for potential trade opps. Once I've got a track record built up on live and I have some funds to support living expenses for 12 months I'll take some time out to try my hand full-time.

Can I ask what got you interested in spreads over outrights? Do you feel that spreads are less risky? I ask because even when spreading you have a position in the market (reversion to/from mean). Any books/threads you could recommend?

Cheers,

Awls

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  #32 (permalink)
Trading Apprentice
montreal/canada
 
Futures Experience: Intermediate
Platform: metatrader
Favorite Futures: currency,options
 
Posts: 1 since Feb 2015
Thanks: 3 given, 0 received

Hi BenG

I am new STIR trader (trading BAX listed in montreal exchange).
Can you please elaborate a little how de you useorderflow and yield curve analyses to spot a good entry .
Thanks for your good thread.

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  #33 (permalink)
Elite Member
Spain / Europe
 
Futures Experience: Intermediate
Platform: Ninjatrader
Favorite Futures: FESX, FGBL, ES...
 
Posts: 53 since Mar 2012
Thanks: 327 given, 21 received



BenG View Post
Hi Turismo,

i'm not so sure they're "easier" to read. To me it doesn't make a whole lot of difference, however as with any market you need to understand its natural flow. Trading Euribor is boring in general, but I like it because it gives me profitability. There are a few downsides to trading this market, such as adding to a position in general is not a problem to do, but on the rare days like we had last week where the market is very volatile, it's better not too. So one would need to distinguish before hand whether the conditions for adding are being met. Generally no high news releases and high volatility would be a no go for me. In comparison to Crude or some of the other more volatile markets, I would say yes it's much easier to trade. I think as a trader one would need to understand their strengths and weaknesses. I'm in this market to make money full stop. I don't care about the excitements or fun etc

If I had some money spare I would be trading this already, so I'm currently trying to get backed through the company that has trained me, and then trade whoevers money I will be working for.

It's been a while since your last post, I hope you're doing well. I have some questions for you...

Which company trained you?
Are you still trading spreads?
Did you manage to get into a prop firm?

Answer here or by private message. Thanks in advance

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  #34 (permalink)
Elite Member
London/UK
 
Futures Experience: Intermediate
Platform: NT7 and MT4
Favorite Futures: Dax, ES, FX, Gold and Oil but what Bund and Bobl also.
 
BenG's Avatar
 
Posts: 105 since Jul 2012
Thanks: 108 given, 124 received


joselopezde View Post
It's been a while since your last post, I hope you're doing well. I have some questions for you...

Which company trained you?
Are you still trading spreads?
Did you manage to get into a prop firm?

Answer here or by private message. Thanks in advance

I only had this online journal for a month so thats why you've not seen me post anymore.


Which company trained you? In relation to my spread trading I got trained by GTC -
https://www.globaltradingcommunity.org/
Are you still trading spreads? No currently not trading spreads as I've just not got that sort of funds laying around but I would definitely have it as part of my trading. Currently just trading outright Dax and SP500 on spreadbet platfom, but even here are to many brokers not exactly working with you and do things like requote (so they dont fill you when you want it) or delayed entry. Also I'm still working full time night shifts in order for me to have a few hours in the morning to do this, so its not exactly an ideal setting.
Did you manage to get into a prop firm? Nope, to many scams here in London and thus far it has costs me a fair bit of money. Generally they require you to either have 12 months plus trade track record, or pay a fee. Thus far I've been through several and paid the fee but they didn't turn out to be what they said they where. If I do decide to go though a firm next, I will visit their trading floor first.

Don't let money control you, control money!
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  #35 (permalink)
Elite Member
London/UK
 
Futures Experience: Intermediate
Platform: NT7 and MT4
Favorite Futures: Dax, ES, FX, Gold and Oil but what Bund and Bobl also.
 
BenG's Avatar
 
Posts: 105 since Jul 2012
Thanks: 108 given, 124 received


omda1 View Post
Hi BenG

I am new STIR trader (trading BAX listed in montreal exchange).
Can you please elaborate a little how de you useorderflow and yield curve analyses to spot a good entry .
Thanks for your good thread.

At the moment not trading spreads but the main thing you're looking for during the day is an unbalance in the months that you're tracking. It might help to see this visually on a spreadsheet but even without it you'll need to practice this a bit but you'll get the hang of it when you do it frequently. Very much the same with orderflow really. It's hard to put into words exactly what I'm looking for, but after you've spotted some unbalance you want to look at the orderbook next and look at which months gives u the best orderflow read for a possible entry for one side of the leg, and the exact same for the opposite. Generally the further apart the months are the more differences there potentially can be and thus a more potential profitable trade, however if you're trading the same market I found it important not to use to much of a gap, so generally if I had a March contract I would either use the December or June contract, so the one before or after, and maybe September, but def not Dec after as in some futures this gap can be very wide and you'll need to make sure they stay correlated enough for you're intraday trade, unless you're happy to take on greater volatility and overnight positions, then that's of course a very different story.

Possible further resources for spread trading:

TE Home
Training Program | Genesis Trading
Courses | Trading Courses

I haven't done these courses or haven't reviewed this material to know whether it's any good or not but information on spread trading I have found to be very limited so thought it might be of help.

Don't let money control you, control money!
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