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M6E Micro Euro futures friendly competition
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M6E Micro Euro futures friendly competition

  #1 (permalink)
Elite Member
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M6E Micro Euro futures friendly competition

A small group started a friendly competition in December 2017 trading the M6E micro futures contract. The purpose of the competition was to spur a friendly rivalry and push ourselves to trade better. The competition allowed the participants to discuss how their methodologies differ, and could be potentially improved, while looking at and trading the same exact data. The high relative commissions of the micro-futures contract favors a more intra-day swing approach and is intended to help develop a tempered, measured approach to the method, punishing FOMO and impulse in-n-out trading.

The competition garnered sufficient interest the first month to keep it going. So this thread will be the repository for all monthly competitions.

Welcome to the M6E friendly competition. The general rules are:
1. Live trading ideally preferred, as the competition and the specific choice of this futures contract is intended to simulate and improve one's trading under real trading conditions (emotions included), just with minimal risk.
2. Post charts of trades
3. Post pic of PnL
4. Keep a weekly running total, which will be updated in the "Summary Post" below as they are made available
5. Set commissions to $2.04 per round trip
6. 1-2 lots
7. Intraday or swing trading, whatever you think has the best chance of making you money!

Competitors will be added to the summary post below.

"Don't underestimate the value of Doing Nothing." - Winnie-the-Pooh
Cut out the habits that lead to underperformance.

Last edited by jackbravo; December 30th, 2017 at 08:31 PM.
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  #2 (permalink)
Quick Summary
Quick Summary Post

*** The rules and scope of the Competition are currently under review. Please contribute your ideas! ***

Previous Game Rules:

Live trading
Post chart of trades
Post pic of PnL
Keep a running total, updated in the thread weekly
Commissions are set to $2.04 round trip per contract.

Contracts: 1-2 lots
Timeframe: intraday or swing

Prize:
Competition participants will change their avatar to the winner's avatar for the month following the competition (this prize may change, as apparently only elite members can customize their avatar).


Past winners:
December 2017: @JMP3 +$185
January 2018: @jackbravo +336.75


Discussion Topics:
1. Can you pinpoint the beginning of a downtrend?
2. Does a downtrend different in speed and structure compared to an uptrend?
3. Can you pinpoint the end of a downtrend?
4. Does the instrument you're examining matter on the structure of the downtrend?
5. Assuming market fractals are a true phenomenon, do lower timeframe (e.g. 5min) downtrends that occur in the context of a higher timeframe (e.g. 60min) consolidation or uptrend pullback differ from to downtrends that occur in the context of a higher timeframe downtrend?
6. What is a trend?
7. Newton’s law does exist in the markets, not gravity but momentum.
8. If a move in a direction is to end or reverse what has to happen. Hits a wall? Runs out of steam? Or the balance of the table is altered and it rolls in the other direction.
9. Same principles apply but there will be variations depending on the landscape and drivers of a market.
10. This is more to do with underlying orderflow than fractal nature of timeframes. Is price moving in a direction due to initiative trade or lack of trade on one side?


Last edited by Rrrracer; February 5th, 2018 at 08:45 PM.
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  #3 (permalink)
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Dec 1


My chart is based on London times.

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"Don't underestimate the value of Doing Nothing." - Winnie-the-Pooh
Cut out the habits that lead to underperformance.

Last edited by jackbravo; December 1st, 2017 at 05:50 PM.
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  #4 (permalink)
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Iím looking forward to seeing your trades guys. Good luck to you both.


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  #5 (permalink)
Market Wizard
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I think this is a great idea. By your leave, I'll participate in this thread also.

Let me know what you guys decide on the contract size. For now I'll stick to one lot. I'd be willing to do like a two-lot-max, if every one wants to.

I'm in Ninja and my commissions are a bit less than that 2.04 but I think I can force the trade performance screen to use 2.04. Will set that up.

Although it wasn't stated in the rules, I assume the idea is for intraday trading, so no holding through the close. I will go with that.

I've also set Ninja to London time for ease of comparing charts.

For December I'm going back to basics. I want to strip away everything. To start I'm just using minute-based charts with no volume display and the only Indicator will be ATR for various periods to help me assess how much wiggle room I need to give each trade. Reserve the right to add later, but that's it for now.

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  #6 (permalink)
Learning to use The Force
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I was trading up to three contracts but recently have reeled myself back down to one because I was being bad LOL. Two sounds like a good compromise.

Like FM, I'm keeping it simple. The only indicator I've been looking at is the RSI on different timeframes, but I don't really use it, more like building up my ability to spot divergences and then watch to see what happens when they occur.

This month I'm going to really buckle down and stay focused on the higher quality opportunities I see; far too often I have found myself meddling around in places I really shouldn't, and it has cost me. The goal is to eliminate goofy errors that are easily avoidable by staying in control of my trading.

Good luck to all, this is going to be fun

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  #7 (permalink)
Market Wizard
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Iím benched today with a stomach bug. Hope you guys kill it an Iíll aim to be back tomorrow.

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  #8 (permalink)
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Posts: 1,267 since Jun 2014
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FlyingMonkey View Post
Iím benched today with a stomach bug. Hope you guys kill it an Iíll aim to be back tomorrow.

You're not missing anything in EUR. Very slow today compared to indices. Hope you feel better

Dec 4: -$14.08

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"Don't underestimate the value of Doing Nothing." - Winnie-the-Pooh
Cut out the habits that lead to underperformance.

Last edited by jackbravo; December 4th, 2017 at 02:57 PM.
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  #9 (permalink)
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Sounds like a fun competition, Count me in, JP.

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  #10 (permalink)
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@jackbravo I'm interested in your 1st trade. What did you see that made you go long there?

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