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

  #1 (permalink)
One day...
SF, CA/USA
 
Futures Experience: Beginner
Platform: SC
Broker/Data: Stage 5 Trading/Gain
Favorite Futures: CL, NQ, ES, EUR
 
jackbravo's Avatar
 
Posts: 1,074 since Jun 2014
Thanks: 2,598 given, 1,729 received
Forum Reputation: Legendary

M6E Micro Euro futures friendly competition

@Rrrracer and I have decided to start a competition for the month of December trading micro Euro futures. The purpose of this competition is to see different approaches in trading the same market at the same time, which will hopefully be beneficial to both of us in improving our own strategies. We picked the M6E contract because the commission is so high relative to the contract size that it will discourage overtrading and microscalping. Also, any losses should be pretty limited.

The winner will get bragging rights.

The rules we are playing by:
Live trading ideally, or SIM trading with commissions included
Post chart of trades
Post pic of PnL
Keep a running total with each post

Affirmation: I am a good trader when I make good decisions.

1. Actions in the market are pre-considered
2. Trades only occur when the market conforms to expectations
3. Donít rigidly stick to initial expectations against all evidence to the contrary
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  #2 (permalink)
Quick Summary
Quick Summary Post

Game Rules:

Live trading
Post chart of trades
Post pic of PnL
Keep a running total, with each post

To keep track of PnL just for M6E, we are using the Sierra Chart trade activity log.
Commissions are set to $2.04 round trip per contract.

Contracts: 1-2 lots, up to you.

Players
@Rrrracer
@jackbravo
@FlyingMonkey
@JMP3

Leaderboard
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Prize
Proposal: all participants will change their avatar to the winner's avatar


Last edited by jackbravo; Today at 02:59 AM.
 
  #3 (permalink)
One day...
SF, CA/USA
 
Futures Experience: Beginner
Platform: SC
Broker/Data: Stage 5 Trading/Gain
Favorite Futures: CL, NQ, ES, EUR
 
jackbravo's Avatar
 
Posts: 1,074 since Jun 2014
Thanks: 2,598 given, 1,729 received
Forum Reputation: Legendary

Dec 1


My chart is based on London times.

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Affirmation: I am a good trader when I make good decisions.

1. Actions in the market are pre-considered
2. Trades only occur when the market conforms to expectations
3. Donít rigidly stick to initial expectations against all evidence to the contrary

Last edited by jackbravo; December 1st, 2017 at 06:50 PM.
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  #4 (permalink)
Sharpening mental edge
the congo
 
Futures Experience: Advanced
Platform: North sea oil rig
Favorite Futures: Cl
 
rassi's Avatar
 
Posts: 826 since Jun 2009
Thanks: 1,147 given, 925 received
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Iím looking forward to seeing your trades guys. Good luck to you both.


Sent using the futures.io mobile app

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  #5 (permalink)
Elite Member
Los Angeles CA
 
Futures Experience: Beginner
Platform: NT8
Favorite Futures: NQ YM ES ZN CL GC HG ZS 6E 6A 6J 6C
 
FlyingMonkey's Avatar
 
Posts: 498 since Jan 2016
Thanks: 1,967 given, 1,466 received

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)
Elite Member
Indianoplace, IN
 
Futures Experience: Beginner
Platform: SierraChart
Broker/Data: CQG
Favorite Futures: M/6E, NQ, CL, ES
 
Rrrracer's Avatar
 
Posts: 338 since Feb 2017
Thanks: 2,130 given, 568 received

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)
Elite Member
Los Angeles CA
 
Futures Experience: Beginner
Platform: NT8
Favorite Futures: NQ YM ES ZN CL GC HG ZS 6E 6A 6J 6C
 
FlyingMonkey's Avatar
 
Posts: 498 since Jan 2016
Thanks: 1,967 given, 1,466 received

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)
One day...
SF, CA/USA
 
Futures Experience: Beginner
Platform: SC
Broker/Data: Stage 5 Trading/Gain
Favorite Futures: CL, NQ, ES, EUR
 
jackbravo's Avatar
 
Posts: 1,074 since Jun 2014
Thanks: 2,598 given, 1,729 received
Forum Reputation: Legendary


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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Affirmation: I am a good trader when I make good decisions.

1. Actions in the market are pre-considered
2. Trades only occur when the market conforms to expectations
3. Donít rigidly stick to initial expectations against all evidence to the contrary

Last edited by jackbravo; December 4th, 2017 at 03:57 PM.
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  #9 (permalink)
Trading Apprentice
rochester new york
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: ES, YM, 6E
 
Posts: 36 since Nov 2017
Thanks: 19 given, 53 received

Sounds like a fun competition, Count me in, JP.

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  #10 (permalink)
Market Wizard
Reading UK
 
Futures Experience: None
Platform: Sierra
Broker/Data: Lmax
Favorite Futures: My 3 boys
 
Grantx's Avatar
 
Posts: 861 since Oct 2016
Thanks: 821 given, 1,110 received
Forum Reputation: Legendary


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

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