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Hi,
This is quite long post describing my situation in detail, but if you'd like a shorter version there are cliffs at the end.
Introduction
I am 29 and I have been a successful professional poker player for the past 8 years. During last couple …
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In the beginning this is not gonna be a typical journal. I won't be posting any trades, simply because... I will not trade even sim yet. I will only be learning by watching the market. I have something like this in my mind:
Phase 0: Pre-trading research (getting to know the discipline)
Phase 1: Watching the markets (dry learning)
Phase 2: Sim trading (true learning)
Phase 3: Live trading (profit)
I have spent October reading and watching about the subject of trading extensively, so Phase 0 is done. Somewhere along that way I decided, that I want to go with Order Flow, leaving Price Action / Volume Profile as a as a second option for later.
My weapon of choice is Ninja Trader + Jigsaw tools with CQG as data feed and AMP as broker (though I won't be using the last one for a long time). I will be learning using Jigsaw's website and No BS Day Trading course.
So onto Phase 1. Wish me luck
Can you help answer these questions from other members on NexusFi?
I am trading ES, YM, TF and sometimes FDAX. Often I question myself, which of these is the appropriate instrument to trade. Each of them has a different character. In my opinion FDAX is very volatile, a bit like crude oil, maybe due to lower liquidity. …
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But the jumping of NQ on the Jigsaw's Depth&Sales seemed super erratic. The price often moved after just a couple of market orders hit at a given bid/ask level. So I gave ES a try also and it seems way smoother and understandable for me there.
Maybe it's just because the ES market is thicker? On NQ it seems that someone can move the market with just a few contracts.
I watched ES for couple hours and I'll probably stick with it. Nothing set in stone yet, as I'm just starting and getting feelers for everything. I watched 6E for a few moments and it seemed ok too.
I have to constantly remind myself not to predict whether the price is gonna go up or down. I have a tendency to think about that, instead of just watching how the orders print in the sales columns.
BTW It was a fun day for me today. Good that I'm liking it, though it seems a bit strange, as it's just sitting in front of the computer staring at some numbers :P
One of the fun moments was when 1500 contract buy market order hit at 2058,75 a little before 10am CT. I was like "wow, that is $150M transaction"
Wednesday I had to skip due to some private matters, but Thursday I put in another day of staring at ES. My mind constantly pops up this thoughts "now it's more likely to tick up", "now it's more likely to tick down", "now I'm not sure / it kinda stays at current price". I stopped fighting it, as I decided it is ok to have such a stream in my mind, if I am aware that this is not gonna be itself reason enough to trade (in the future).
BTW what was that sudden spike in volatility at 11:30 CT yesterday (12/04)? Was there some unexpected news?
Watched ES today again, was quite choppy. I've had enough of simple watching the T&S, so I added power meter and filtered tape.
During the weekend I will watch some videos on Order Flow from Jigsaw and from Monday I'll start adding more to my training, moving forward one step at a time.