Zen & the Art of The Small Account - futures io
futures io



Zen & the Art of The Small Account


Discussion in Trading Journals

Updated
      Top Posters
    1. looks_one PandaWarrior with 455 posts (1,602 thanks)
    2. looks_two tderrick with 74 posts (54 thanks)
    3. looks_3 Big Mike with 52 posts (176 thanks)
    4. looks_4 bluemele with 34 posts (37 thanks)
      Best Posters
    1. looks_one PandaWarrior with 3.5 thanks per post
    2. looks_two Big Mike with 3.4 thanks per post
    3. looks_3 bluemele with 1.1 thanks per post
    4. looks_4 tderrick with 0.7 thanks per post
    1. trending_up 182,280 views
    2. thumb_up 2,558 thanks given
    3. group 102 followers
    1. forum 994 posts
    2. attach_file 228 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 150,000 members
  • Genuine reviews from real traders, not fake reviews from stealth vendors
  • Quality education from leading professional traders
  • We are a friendly, helpful, and positive community
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts
  • We are here to help, just let us know what you need
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

(If you already have an account, login at the top of the page)

Closed Thread
 
Search this Thread
 

Zen & the Art of The Small Account

(login for full post details)
  #501 (permalink)
 soumi71 
Toronto
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Zen-Fire
Trading: CL , 6E
 
Posts: 200 since Jun 2009
Thanks: 759 given, 271 received

Way to Go AZtrader !
what is CS T4 ? if you don't mind expaining
Thanks , have a great week-end !
soumi

"Risk more than others think safe.
Dream more than others think practical.
Expect more than others think possible.
Care more than others think wise"
The following user says Thank You to soumi71 for this post:

Can you help answer these questions
from other members on futures io?
need help with easy language OR breakout code:)
Traders Hideout
mahDualCandlePattern
NinjaTrader
Tips for directional bias during Asian Session?
Traders Hideout
value chart indicator by sim22
NinjaTrader
 
Best Threads (Most Thanked)
in the last 7 days on futures io
Spoo-nalysis ES e-mini futures S&P 500
44 thanks
How many day traders are profitable?
24 thanks
Why you should move from futures to forex
15 thanks
Attached Orders
13 thanks
fx "traders" hate real profitable traders
8 thanks
 
(login for full post details)
  #502 (permalink)
 Private Banker 
La Jolla, CA
 
Experience: Master
Platform: Sierra Chart, X_Trader Pro, OptionsCity
Broker: Advantage, Trading Technologies, OptionsCity, IQ Feed
Trading: CL, NG
 
Private Banker's Avatar
 
Posts: 1,040 since Jul 2010
Thanks: 1,713 given, 3,860 received


aztrader9 View Post
+136 ticks this week.

Evaluating CTS T4....struggling with the dynamic dom....cant figure out how to make it stand still long enough to place an order!....anyone out there know how to do this?

Been handwriting my journal this week. Very interesting how the physical act of writing by hand connects you with the emotions of trading.

Have a great weekend.

Hi AZTrader,

I've had experience with Dynamic DoM's in the past (very briefly) and can tell you that I thought they were worthless other than viewing the orders out there. The problem with a Dynamic DoM is you're more likely to make mistakes on your order entry. IMO, a static DoM is a must for that reason. Some DoM's have a price freeze button but not sure about CTS' set up.

Cheers,
PB

The following user says Thank You to Private Banker for this post:
 
(login for full post details)
  #503 (permalink)
 PandaWarrior 
In the heat
 
Experience: None
 
PandaWarrior's Avatar
 
Posts: 3,163 since Mar 2010
Thanks: 6,328 given, 13,392 received



soumi71 View Post
Way to Go AZtrader !
what is CS T4 ? if you don't mind expaining
Thanks , have a great week-end !
soumi

It is an institutional level trading platform similar to TT. I am evaluating it currently and while its far more robust than ninja, the order entry is foreign to me having used NT for so long. I never trade with a DOM, only chart trader and the multistep process for entering an order seems to be really cumbersome. There are no ATM strategies like NT either as far a I can tell.

BUT, an opportunity has presented itself and T4 is the platform of choice and so I am trying to evaluate and get used to it on the free demo period.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
Started this thread
The following user says Thank You to PandaWarrior for this post:
 
(login for full post details)
  #504 (permalink)
 tderrick 
Nashville, Tennessee
 
Experience: Intermediate
Platform: Ninja / Jigsaw / 9G
Broker: AMP / CQG
Trading: NQ, YM and ES
 
tderrick's Avatar
 
Posts: 1,588 since Sep 2010
Thanks: 4,260 given, 2,530 received

Rock on, AZ....


AJ
Nashville, Tennessee


"Life On The Edge of SR"
Follow me on Twitter Visit my futures io Trade Journal
The following user says Thank You to tderrick for this post:
 
(login for full post details)
  #505 (permalink)
 PandaWarrior 
In the heat
 
Experience: None
 
PandaWarrior's Avatar
 
Posts: 3,163 since Mar 2010
Thanks: 6,328 given, 13,392 received

Well last week was a bit of a bust for me. It ended profitable but just barely. I was dissatisfied with my trading. It was messy and unfocused. I suspect that is due to the some of the personal matters I've been working on the last couple of weeks as well as evaluating a new software platform for trading. Nonetheless, I am excited about this upcoming week.

This journal started out being about how to turn a small account into a large one. 51 pages later, I can honestly say I know how to do that but have failed to do so in the manner in which I wanted to. Instead, I have come to understand myself better, my trading style better and the areas I need to focus on for the future.

Trading a small account is trading scared money. My money is less scared that it was but still quite nervous at times. Going forward, this journal will be less about making money than it will be about detailing my journey toward being a professional trader.

I've been invited to try out for a prop firm and over the next four weeks will be engaged in that pursuit. If I pass the test, I'll be granted a job trading firm money with a nice profit split. I decided to go this route as I can make more money on the profit split than I can trading my own very small account. Of course as time goes buy, I'll transfer some of those earnings to my own account and in time, I'll be able to deploy the same trading plan in my own account.

But what I really learned from this journey is this, trading a small account does not allow for the normal draw down process that can and will occur in trading any system unless you get lucky and have a nice win streak in the first few weeks. So while my account is still intact and has grown somewhat, I don't have the room to sustain a normal draw down and therefore have had to use really tight stops to preserve capital. This means many trades I'd like to take I just can't due to the stop restriction. And this in turn has severally limited my growth opportunity. So I am temporarily suspending trading my own account to focus on this prop firm trial. In time, I'll resume and I will continue posting about my personal account then.

Until then, the remainder of this journal will reflect my journey toward a prop firm position and subsequent trading assuming I win the position.

The rules I have to live within are pretty much the same as what I have imposed on myself with this exception: My daily draw down can be no larger than $1000 which is significantly larger than what I have had in my live account. I must earn a minimum threshold profit to be considered for a position and I can trade no more than 5 lots at a time. The whole process lasts a month so by Jan 7, 2011 I should know where I stand.

So this promises to be an exciting journey. When I began this journey, I did not anticipate it may lead to trading for a firm but that appears to be the way it is working out. So here I go....wish me luck.

Cheers......

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
Started this thread
The following 3 users say Thank You to PandaWarrior for this post:
 
(login for full post details)
  #506 (permalink)
Tundi
Fullerton, CA
 
 
Posts: 201 since Dec 2010
Thanks: 33 given, 98 received

azt, is this a futures prop firm you're checking out? Are they asking you to make a capital contribution or pay for an educational course? Are you on the hook for trading losses?

 
(login for full post details)
  #507 (permalink)
 itrade2win 
New York
 
Experience: Intermediate
Platform: Sierra Charts, TOS
Trading: E-mini S&P 500
 
Posts: 753 since Aug 2010
Thanks: 447 given, 437 received

Most Prop firms will require a min $2000.00 capitol contribution to get started to keep their risk to a minimum and once you have loses of that amount you are out the door.

Good luck AZ!

The following 2 users say Thank You to itrade2win for this post:
 
(login for full post details)
  #508 (permalink)
 PandaWarrior 
In the heat
 
Experience: None
 
PandaWarrior's Avatar
 
Posts: 3,163 since Mar 2010
Thanks: 6,328 given, 13,392 received


Tundi View Post
azt, is this a futures prop firm you're checking out? Are they asking you to make a capital contribution or pay for an educational course? Are you on the hook for trading losses?

It is a futures trading firm and by rule, any firm registered with the CME cannot require a deposit nor can its traders be held liable for any trading losses or be required to take an educational course they must pay for.

They can and do set strict rules on your daily max draw down as well as your monthly draw down. After all, its their money and they can should establish risk limits for new traders.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
Started this thread
 
(login for full post details)
  #509 (permalink)
 PandaWarrior 
In the heat
 
Experience: None
 
PandaWarrior's Avatar
 
Posts: 3,163 since Mar 2010
Thanks: 6,328 given, 13,392 received


itrade2win View Post
Most Prop firms will require a min $2000.00 capitol contribution to get started to keep their risk to a minimum and once you have loses of that amount you are out the door.

Good luck AZ!

This is true of firms that do not trade futures.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
Started this thread
 
(login for full post details)
  #510 (permalink)
Tundi
Fullerton, CA
 
 
Posts: 201 since Dec 2010
Thanks: 33 given, 98 received



aztrader9 View Post
It is a futures trading firm and by rule, any firm registered with the CME cannot require a deposit nor can its traders be held liable for any trading losses or be required to take an educational course they must pay for.

They can and do set strict rules on your daily max draw down as well as your monthly draw down. After all, its their money and they can should establish risk limits for new traders.

What is the firm's name? Futures prop firms are few and far between because they can't offer the trader any more leverage than one can get on his own, but in your case, trading OPM, that's a big plus.

Good luck with this.


Closed Thread

futures io Trading Community Trading Journals > Zen & the Art of The Small Account


Last Updated on July 25, 2011


Upcoming Webinars and Events
 

NinjaTrader Indicator Challenge!

Ongoing
     



Copyright © 2022 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada), 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