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kab0000's Journal
Started:February 24th, 2015 (09:34 PM) by kab0000 Views / Replies:128 / 2
Last Reply:February 25th, 2015 (07:01 PM) Attachments:0

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kab0000's Journal

Old February 24th, 2015, 09:34 PM   #1 (permalink)
Elite Member
London, United Kingdom
Futures Experience: None
Platform: NinjaTrader/ Jigsaw
Broker/Data: AMP
Favorite Futures: ES, TF & 6E
kab0000's Avatar
Posts: 6 since Feb 2015
Thanks: 522 given, 1 received

kab0000's Journal

If you are reading this, welcome. This is my futures trading journey from the ground up. I am new to this arena and have no previous background in futures trading - probably a bad idea to get into this right? Oh well. I have for some time had an interest in the markets and have wanted to learn to trade. I anticipate the hard work and effort it will require to become competent but for some reason I still want to do this.

What I have done to get to this point is read (this site has been immeasurably helpful) and watch webinars.

Below are some other things I have completed or plan to do going forward:

1. Open a brokerage account

2. Learn the following:
- Platform (How it works etc)
- How to correctly read the charts
- Place an order, place stop and manage orders
- How your instrument trades (provisionally my long term goals: ES and 6E) - screen time
- Terminology (Comprehension of others)
- Domain Skills (General understanding)

I will be sim trading to start with but will move to cash in 2-3 months (when I feel comfortable with the platform, price action and volume)

Q: Which less risky/ volatile products are there similar to ES and 6E so I can trade cash sooner rather than later. I am doing this as an engagement exercise more than anything although the plan is not to lose money - happy with breaking even for this period. I don't have any high expectation to begin with. I just want to understand what is going on with price and volume to keep engaged long enough to "get it".

3. PLAN: Pick a product and develop a strategy (initially one product, one method). Test strategy by either paper trading or backtesting (to be honest I don't even know if this will be possible or how to do it at this stage but have seen talk on this subject on threads).

4. DO: Execute the strategy (Live)

5. REVIEW: Is the outcome as expected? Every time something goes wrong:
- Analyse it
- Ask why?
- What did I do wrong?
- What can I do better next time?
- Learn your craft
- Practice practice practice

6. Develop more varied strategies for different situations environments (follow steps 3-5)

Going forward I am reading through another users journal (tderrick - known to some as AJ) to help me gain insight as to how he progressed and hopefully shorten my learning curve.

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Old February 24th, 2015, 09:34 PM   #2 (permalink)
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Old February 25th, 2015, 07:01 PM   #3 (permalink)
Elite Member
London, United Kingdom
Futures Experience: None
Platform: NinjaTrader/ Jigsaw
Broker/Data: AMP
Favorite Futures: ES, TF & 6E
kab0000's Avatar
Posts: 6 since Feb 2015
Thanks: 522 given, 1 received

Day 1

What I did today:

- Reviewed a few working details of the Ninja Platform
- Placed an order and took it off. There seem to be multiple ways to do the same thing ... hmmm. Which is best? Not sure how to place a stop yet - will investigate that tomorrow.
- Started to look into how to correctly read the doji charts

Q: Which time intervals are best for the charts and why?

Although the above is very basic I need to start from somewhere, right?

The rest of the day was spend watching the market and how ES moved over the course of the day.

Last edited by kab0000; February 25th, 2015 at 07:15 PM.
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