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SYX Journal

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  #11 (permalink)
 syxforex 
British Columbia
 
Experience: Advanced
Platform: NINJA
Broker: ZEN
Trading: Crude
 
Posts: 1,091 since May 2010

Thanks Mx,

1Month Full Lot 1 Month ML W Lic W/0 Lic W Lic

No Lic [email protected] 80rt @5.20 80 rt @ 6 == [email protected] ===== 369 [email protected]@2.54 === 610 336 +675
Lic 675 Total 1011 Total 416 Total 1044 610

Hoping those numbers stay formatted, but it shows the total cost of running X trader for one month. It shows the commission based pricing and license based usage for both the case of trading one full Lot and then it breaks it down for the Micros.

My total monthly expenses including DTN IQ/Ninja and Xtrader fees and commissions, plus everything else, at the moment it's 1400/month. If my targets are hit my profits will be 3000k, on a 5000k account, for a net monthly profit of 1600$, a 32% ROC

If i can do this consistently for three months I will grow the account to closer to 20Grand, and then we can start trading the Bigs!

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  #12 (permalink)
 Big Mike 
Site Administrator
Swing Trader
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Manta, Ecuador
 
Experience: Advanced
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Trading: Futures & Crypto
 
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syxforex View Post
Thanks Mike, that was a bit of long post alright. Slippage on the Micros....

Cool, I look forward to seeing how it goes for you. Let us know your impression after a few trades.

Mike

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  #13 (permalink)
 Big Mike 
Site Administrator
Swing Trader
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Manta, Ecuador
 
Experience: Advanced
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Trading: Futures & Crypto
 
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Posts: 50,182 since Jun 2009
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I would strongly caution against such a huge "cost of business" relative to your trading capital/account size.

It is my opinion that in the beginning, the #1 thing for traders to accomplish is capital preservation. In sixty to ninety days you'll be out of capital even if all of your trades break even, due to your overhead.

I'm sure XTrader is fantastic, and you seem like a real smart guy that did his homework But I don't think this is a good combination for a new trading venture and a small account.

Mike

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  #14 (permalink)
 syxforex 
British Columbia
 
Experience: Advanced
Platform: NINJA
Broker: ZEN
Trading: Crude
 
Posts: 1,091 since May 2010

Thanks Mike,

I know what you mean, it's kind of crazy. One thing I'm thinking about is putting down down 2-3 months of solid results and then take it to a prop trading company, there's one big one in Toronto that does HFT but also has 50 or so pros doing intraday, trading firm capital. So really the costs eating up a lot the profits is a concern but I'm even more concerned with getting best execution. I think I'm going to run with NT7 for charting for now so would I have to run 6.5 and 7 simultaneously to trade then? What would be the cost to have a programmer convert my workspace into MC code? I'm going to spend the rest of this week comparing the options and the costs.


Big Mike View Post
I would strongly caution against such a huge "cost of business" relative to your trading capital/account size.

It is my opinion that in the beginning, the #1 thing for traders to accomplish is capital preservation. In sixty to ninety days you'll be out of capital even if all of your trades break even, due to your overhead.

I'm sure XTrader is fantastic, and you seem like a real smart guy that did his homework But I don't think this is a good combination for a new trading venture and a small account.

Mike


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  #15 (permalink)
 ZTR 
 
Experience: Advanced
Platform: NinjaTrader7
Broker: Mirus RCG/Zen-Fire
Trading: CL & 6e, looking at ES, ZB and AU again.
 
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Posts: 2,099 since Nov 2009
Thanks: 1,099 given, 1,393 received

I am so glad Scott, That you put this plan together.

I could have used you the Skype room today.

[06:28:40] ZTR: Watching the TLd on 6e
[06:31:05] ZTR: bmcharts.com - share your trades

Talk about other stuff rather than trading...

[07:56:27] ZTR: See if we we trading and not worried about coding in this room some one would have looked at the chart posted above and said - there is a pile of $$$ over there let's go get it!
[07:59:15] ZTR: Big (Mike) is allowing the Elite members to have Webinar like sessions for these types of diccussions.
[07:59:16] ZTR:
[08:00:53] ZTR: Think about it.
[08:03:02] ZTR: See bmcharts.com - share your trades

I will be there tomorrow.

R.I.P. Andy Zektzer (ZTR), 1960-2010.
Please visit this thread for more information.
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  #16 (permalink)
 syxforex 
British Columbia
 
Experience: Advanced
Platform: NINJA
Broker: ZEN
Trading: Crude
 
Posts: 1,091 since May 2010

Hey Z, I've been sleeping weird hours.. kinda woke up watched the UK session, fell back asleep.. I'll be in for Tuesday's session though,. that is if I don't get my membership revoked, got a little heated up by the politics of the health care room,.,ooops...

It's going to be good ZTR. We are going to role this plan out and make it work!


ZTR View Post
I am so glad Scott, That you put this plan together.

I could have used you the Skype room today.

[06:28:40] ZTR: Watching the TLd on 6e
[06:31:05] ZTR: bmcharts.com - share your trades

Talk about other stuff rather than trading...

[07:56:27] ZTR: See if we we trading and not worried about coding in this room some one would have looked at the chart posted above and said - there is a pile of $$$ over there let's go get it!
[07:59:15] ZTR: Big (Mike) is allowing the Elite members to have Webinar like sessions for these types of diccussions.
[07:59:16] ZTR:
[08:00:53] ZTR: Think about it.
[08:03:02] ZTR: See bmcharts.com - share your trades

I will be there tomorrow.


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  #17 (permalink)
 ZTR 
 
Experience: Advanced
Platform: NinjaTrader7
Broker: Mirus RCG/Zen-Fire
Trading: CL & 6e, looking at ES, ZB and AU again.
 
ZTR's Avatar
 
Posts: 2,099 since Nov 2009
Thanks: 1,099 given, 1,393 received

You have had your wrist slapped, do not do it again. if you want be able to participate in my next project.

I will be working head to organizing Journal Clubs over the next few weeks assuming I am not in the hospital

Want one for specific instruments, like 6e, etc. One for Methods, COT/Delta, etc. One for coding development Volume Ladder. You get the idea.

With the Trading based ones I am asking members to want to participate to keep a journal - ala the cunparis method: Start with SIM, work it until you can feel it then go live.

Each week a different trader will present an overview of the Market they trade, what trades they make and an analysis of what the next week will hold.

Ran these for years in science, and my folks mostly had amazing skills when they finished, most getting the big $$$ for their first real job. The goal here is slightly, a trader with constantly increasing account balance.

Will be posting in several places on the Forum.

R.I.P. Andy Zektzer (ZTR), 1960-2010.
Please visit this thread for more information.
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  #18 (permalink)
 syxforex 
British Columbia
 
Experience: Advanced
Platform: NINJA
Broker: ZEN
Trading: Crude
 
Posts: 1,091 since May 2010

Sounds Cool


ZTR View Post
You have had your wrist slapped, do not do it again. if you want be able to participate in my next project.

I will be working head to organizing Journal Clubs over the next few weeks assuming I am not in the hospital

Want one for specific instruments, like 6e, etc. One for Methods, COT/Delta, etc. One for coding development Volume Ladder. You get the idea.

With the Trading based ones I am asking members to want to participate to keep a journal - ala the cunparis method: Start with SIM, work it until you can feel it then go live.

Each week a different trader will present an overview of the Market they trade, what trades they make and an analysis of what the next week will hold.

Ran these for years in science, and my folks mostly had amazing skills when they finished, most getting the big $$$ for their first real job. The goal here is slightly, a trader with constantly increasing account balance.

Will be posting in several places on the Forum.


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  #19 (permalink)
 syxforex 
British Columbia
 
Experience: Advanced
Platform: NINJA
Broker: ZEN
Trading: Crude
 
Posts: 1,091 since May 2010

JUNE 1st - European Session Review

Moving into 6am est, typically an hour I don't trade. It's a bit of a flakey hour, have to wait for the NY traders to get their coffee.

So, strategy. I've completely dropped almost everything from my charts. The more I've read on the site here and reflected on my own experience of spending over a year on the search for the holy indicator, the more I am convinced that all technical analysis is nothing more than an illusion.

I really believe there is only supply and demand and in these times it is best to keep the apple close.

My strategy is so simple. Going up we buy at the valleys, going downhill sell the peaks. How do we know which way to go. Two charts. Two Moving Averages. It's that simple.

On the 1000K Volume chart I use a 55 period moving average to determine the direction I'm trading. I use the 99 tick chart to jump on peaks and valleys. I should also note I do quite a bit of research into the daily economic calendar and try to find out what the interbank sentiment is by reading 4Cast and IFR reports for the Euro. You can get these for free by getting a practice account at Oanada, FYI. The sentiment since London came in has been decidedly bearish. I don't really know how to do an in depth analysis of the volume ladder, I look at it, I like it, it give me confidence when I see big COT numbers.

So that's about it. I'm just going with the 50 period moving aveage of teh 1000Vol chart. And then watching the ebb and flow of ticks. It's obvious to me when I see countertrend options related buying, when the market speeds up and slows down due to some dealing somewhere, etc, so, it's a lot of waiting and not looking too far away from the screen.

I got two trades off in the European session. 2 for 2 on sim trading one lot. I'm just trading one lot straight for simming. 53pips on trade one, seven on the second, could of bagged 35 on the second, at the four year low, but I was distracted and took it off as the 99tick trend started to reverse into the 6o'clock hour.

Now we wait for NA to awake and start trading. I wonder what could happen in the markets that might the Euro sliding.... Hoping to see lots of ticks pouring in at around 6:58...

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  #20 (permalink)
 ZTR 
 
Experience: Advanced
Platform: NinjaTrader7
Broker: Mirus RCG/Zen-Fire
Trading: CL & 6e, looking at ES, ZB and AU again.
 
ZTR's Avatar
 
Posts: 2,099 since Nov 2009
Thanks: 1,099 given, 1,393 received


Can you post charts showing your set ups?

R.I.P. Andy Zektzer (ZTR), 1960-2010.
Please visit this thread for more information.
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