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M6E Micro Euro futures friendly competition


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M6E Micro Euro futures friendly competition

  #371 (permalink)
 
JMP3's Avatar
 JMP3 
rochester new york
 
Experience: Intermediate
Platform: NinjaTrader
Trading: ES, YM, 6E
Posts: 160 since Nov 2017
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Rrrracer View Post
@JMP3 has already posted CL trade results, and I've been using more than three contracts. @FlyingMonkey's suggestion about using the shape of the cumulative PnL makes sense and is a good equalizer if we decide to expand out. You would be able to post other currency trades here if you like. I think the idea was to expand participation.

But I am down with whatever the collective thinks, we can do what we want. Personally, I'm just focused on the 6E for now.

If a person wishes to trade other instruments besides the M6E then the best shape of the cumulative PnL could be a separate avatar. If a person also wishes to trade the M6E then I would have a 3 to 4 contract limit per trade session and must show M6E only on the statement. So, I think we are all on the same page?

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  #372 (permalink)
 
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 AnvilRob 
Smithfield, VA
Legendary Options Mando
 
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Rrrracer View Post
Yeah FM and I had discussed getting the title changed. Part of me wants to just keep it 6E, because it's already established and keeps a level playing field.

On the flip side, we've only had 4-5 people doing it on a consistent basis, so it might make sense to expand it out. People can trade what they want, the way they want. The shape of the PnL would be how the winner is determined instead of raw dollars.

What do you guys think? Polling the crowd... maybe we should start a poll LOL.

Having the 1 instrument was great at mastering a technique. I think this would make a perfect thread for starting out. Maybe another thread that really opens up to more. That way we have a comp that can get even the greenest of traders in. Then another that allows the more aggressive etc.?

The costs for this comp is great! Even on a bad day it doesn't break the bank. That will be attractive to new traders as well.

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  #373 (permalink)
 
AnvilRob's Avatar
 AnvilRob 
Smithfield, VA
Legendary Options Mando
 
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Also like the idea of maybe having a micro comp where you only trade micros. And then a mini where you can trade any e-mini? Just brainstorming.

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  #374 (permalink)
 
Rrrracer's Avatar
 Rrrracer 
On the road
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JMP3 View Post
If a person wishes to trade other instruments besides the M6E then the best shape of the cumulative PnL could be a separate avatar. If a person also wishes to trade the M6E then I would have a 3 to 4 contract limit per trade session and must show M6E only on the statement. So, I think we are all on the same page?

I like the idea of using the PnL curve for both, makes it easy compared to tracking the actual dollar figures/commissions, etc, and an equalizer for those who only trade 1-2 contracts. You could literally trade as many as you like.

I also like the idea of being inclusive of other instruments, so that we may broaden participation. We talked about just starting a separate thread, but that's counter to what we're trying to accomplish. Totally get what @FlyingMonkey has in mind here.

So... two competitions in one thread? One for M6E (or all micros?) for beginners, the other for whatever else? The two winners get their own special avatar sporting their winning PnL for the month?

Title: "FIO PnL Power Championship!" LOL

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  #375 (permalink)
 
JMP3's Avatar
 JMP3 
rochester new york
 
Experience: Intermediate
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Trading: ES, YM, 6E
Posts: 160 since Nov 2017
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Rrrracer View Post
I like the idea of using the PnL curve for both, makes it easy compared to tracking the actual dollar figures/commissions, etc, and an equalizer for those who only trade 1-2 contracts. You could literally trade as many as you like.

I also like the idea of being inclusive of other instruments, so that we may broaden participation. We talked about just starting a separate thread, but that's counter to what we're trying to accomplish. Totally get what @FlyingMonkey has in mind here.

So... two competitions in one thread? One for M6E (or all micros?) for beginners, the other for whatever else? The two winners get their own special avatar sporting their winning PnL for the month?

Title: "FIO PnL Power Championship!" LOL

Are we separating "Live" from "Sims"" with just a simple acknowledgement? I'll be in "Live" mode.

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  #376 (permalink)
 
Rrrracer's Avatar
 Rrrracer 
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JMP3 View Post
Are we separating "Live" from "Sims"" with just a simple acknowledgement? I'll be in "Live" mode.

Yeah I think so. I'm in Sim for now but looking to get back live after I see how Feb goes. My thought is that if you're predisposed to doing stupid things in Sim then you'll probably blow up anyway LOL.

Edit: Damn man, you still have one fine looking PnL curve going there ... maybe I can just copy and paste it at the end of the month

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  #377 (permalink)
 
JMP3's Avatar
 JMP3 
rochester new york
 
Experience: Intermediate
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Trading: ES, YM, 6E
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Rrrracer View Post
Yeah I think so. I'm in Sim for now but looking to get back live after I see how Feb goes. My thought is that if you're predisposed to doing stupid things in Sim then you'll probably blow up anyway LOL.

Edit: Damn man, you still have one fine looking PnL curve going there ... maybe I can just copy and paste it at the end of the month

Thanks Shane, It's not that good now, started the day on M6E with plus $22 and change, very undisciplined trading. Now I'm only plus $9.55 after commissions. But the month is still young

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  #378 (permalink)
 
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 FlyingMonkey 
Los Angeles CA
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JMP3 View Post
If a person wishes to trade other instruments besides the M6E then the best shape of the cumulative PnL could be a separate avatar. If a person also wishes to trade the M6E then I would have a 3 to 4 contract limit per trade session and must show M6E only on the statement. So, I think we are all on the same page?


TradeTheLevel View Post
Having the 1 instrument was great at mastering a technique. I think this would make a perfect thread for starting out. Maybe another thread that really opens up to more. That way we have a comp that can get even the greenest of traders in. Then another that allows the more aggressive etc.?

The costs for this comp is great! Even on a bad day it doesn't break the bank. That will be attractive to new traders as well.

Sent using the NexusFi mobile app


Rrrracer View Post
I like the idea of using the PnL curve for both, makes it easy compared to tracking the actual dollar figures/commissions, etc, and an equalizer for those who only trade 1-2 contracts. You could literally trade as many as you like.

I also like the idea of being inclusive of other instruments, so that we may broaden participation. We talked about just starting a separate thread, but that's counter to what we're trying to accomplish. Totally get what @FlyingMonkey has in mind here.

So... two competitions in one thread? One for M6E (or all micros?) for beginners, the other for whatever else? The two winners get their own special avatar sporting their winning PnL for the month?

Title: "FIO PnL Power Championship!" LOL

Totally agree with all of your sentiments here. @jackbravo was also on board with the idea of loosening up the rules to try to motivate more participants. I like the idea of making it an option to restrict yourself to the original M6E rules, though it will be a smaller group. But the nice thing is, if you participate in the original M6E rules, you're still complying with the PnL-curve rules, so you could actually win both. Given the higher commission % with the micros it's a handicap but still possible.

For the new rules I do think we would need to get more specific and also the criteria for winning is too subjective.

Here's my attempt and rationale at coming up with a simple easy to use formula for "prettiest PnL curve" that doesn't resort to complicated standard deviation calculations: ProfitFactor * (1-(%MaxDrawdown/2))

Profit Factor is Gross Profit / Gross Loss (including commissions).
% Max Drawdown is calculated only starting the 11th trading day of the month. From that point, the % max drawdown is: NetProfitAtPeakToDate / NetProfitAtTroughToEnd. MaxDrawdown can't be more than 100% My vote would be that the PnL curve should be trade-by-trade, not day-by-day, and this MaxDrawdown is measured intra-day but not intra-trade.

Example:
After Trading-Day #10 of the month of Feb, I have PnL of $500. After this date, my PnL climbs to $700, then down to $350 (Max Drawdown of 50% or .5), then up to $1000 at the end of the month. My gross losses for the month are $700, gross profit is $1700 (profit factor 2.429).

2.429 * (1-(.5/2)) = 1.822

Compare that to someone trading M6E finishing with $120 net with 25% maxdrawdown on $220 gross gains / $100 gross losses.

2.2 * (1-(.25/2)) = 1.925 (winner)

Some suggested rules:
Trade any futures, forex, CFDs. Sim OK, just make it known.
Trade a minimum of 10 trading days of the month.
Minimum # trades (flat to flat) is 10 for the month.
Report in ticks or in dollars but always deduct commission. No need to tweak commission to match others. If your platform gives you better commission more power to you.
Post some charts

Can anyone think of a rule that would prevent microscalping? Do we care? I don't really, as long as commission is included.

I also like the idea of trying to get the thread name changed, if the powers that be can grant that. Monthly PnL Beauty Contest and Micro Noob Battle! Not sure it has a great ring to it... suggestions?

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  #379 (permalink)
 
FlyingMonkey's Avatar
 FlyingMonkey 
Los Angeles CA
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Much more interesting day today. 5 trades for a net profitable result of an amazing 6 ticks or so. I was firmly in the green for a bit there after 2 very solid short trades (circled). Unfortunately gave most of it back on 3 losses. I'm trading without targets ... I've seen this thing take 100 tick wins in sim, so I know it can be done. But I am giving up a lot at the end of winning trades. And I'm missing entries with limit orders. Missed a couple good ones today. Also missed some bad ones. Need to take a hard look at the kind of data I'm collecting because I need to make some informed decisions about fine tuning entries and exits, ideally sooner than later. Still, can't complain about a good night's sleep.





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  #380 (permalink)
 
JMP3's Avatar
 JMP3 
rochester new york
 
Experience: Intermediate
Platform: NinjaTrader
Trading: ES, YM, 6E
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Thanks Given: 263
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Even though I'm in the positive I'm very disappointed with my trades. Total lack of concentration, not paying attention, I missed great opportunities while watching a movie on my 3rd screen. Yes it's a hobby however I still have to take this a little more serious!!! I'm scolding myself

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Last Updated on March 28, 2018


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