My challenge of being a consistent trader
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My challenge of being a consistent trader


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Created July 10th 2018 by asyx
Updated September 27th 2019 by LittleFinger
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My challenge of being a consistent trader

  #21 (permalink)
Munich, Germany
 
Trading Experience: Beginner
Platform: not important
Favorite Futures: NQ / CL / GC
 
Posts: 116 since Mar 2011
Thanks: 397 given, 100 received

Friday is my second worst day in regard to total performance.
Therefor today I will sit a lot on my hands.

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  #22 (permalink)
Munich, Germany
 
Trading Experience: Beginner
Platform: not important
Favorite Futures: NQ / CL / GC
 
Posts: 116 since Mar 2011
Thanks: 397 given, 100 received


Grantx View Post
What contracts are you trading and how much are the commissions?

What do you mean the chances of limit order getting hit are worse? Spreads with lmax seem pretty good to me. For instance gold with most brokers averages 50 but lmax fluctuates between 10-20 sometimes lower. On an instrument that can easily move +1000 ticks in a day that spread is nothing.

Of course if you attempting to scalp forex market then you will get your ass handed to you in commissions and spread. That's where futures are probably better.

With LMAX I looked at Gold, NatGas, WTI and EquityIndixes. With futures copper, too.
Regarding commissions(I mean also clearing and other fees) for futures, e.g. Gold, for most retail traders, all in for a round turn is below $ 4 or at least $ 5. The equivalent with LMAX is approx. $ 6.5 if I remember right. If you trade LMAX smallest contracts for the EquityIndexes the equivalent to a futures contract is $ 12 something.

Assume you want to buy via a limit order. When there are many people playing with each other then probability someone is hitting with his market order in your resting bid is higher than if it is in a case where it is only you and the market maker. If price is bursting through all levels it is not a big issue. It is different if you are at an inflection point, which is quite often in my daily trading, it is an disadvantage if no one is willing to hit your limit. LMAX gold has a spread of 1.2 which is ok. But look at the other: Natgas 5, WTI also 4-6 , Equity 2. If you are forced to use markets orders a lot of time, always leaving there 2-3 ticks or more, then no doubt this has impact on your performance. For some systems this difference means success or failure. I also compared COMEX Gold and Micro-Gold futures. With the Micro it is the same like with LMAX. The lack of participants and the spread: you do not get the same fills.

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  #23 (permalink)
Munich, Germany
 
Trading Experience: Beginner
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TraderTS View Post
@asyx
I thought of you when I watch this old webinar again. TopstepTrader Intervention featuring FuturesTrader71, published 12-04-2015
https://www.youtube.com/watch?v=4E0_Oq4gHok


Thanks for the video. Could only recommend it to everybody.

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  #24 (permalink)
Munich, Germany
 
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Posts: 116 since Mar 2011
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@TheShrike , @teamtc247

I am on futures.io several years but have not participated a lot. Part is, it takes me relatively long to write down my thoughts in a foreigh language.

Nevertheless I try to participate a little bit more in the future. Helps me to reflect on myself.
That is also in part reason of my journal.
Your additional perspectives makes me think. Which could only do good to my development.

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  #25 (permalink)
San Jose, CA
 
Trading Experience: None
Platform: NinjaTrader
Broker/Data: Dorman Trading, Kinetick
Favorite Futures: NQ 630/930-0900/1200 PST/EST, maybe only one 1-3 times per day.
 
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asyx View Post
@TheShrike , @teamtc247

I am on futures.io several years but have not participated a lot. Part is, it takes me relatively long to write down my thoughts in a foreigh language.

Nevertheless I try to participate a little bit more in the future. Helps me to reflect on myself.
That is also in part reason of my journal.
Your additional perspectives makes me think. Which could only do good to my development.

Schauen Sie sich Lisa Nichols und Tom Bilyeu an, sie haben einige gute Sachen in Bezug auf Motivation und Erfolg veröffentlicht. Tom hat eigentlich einen YouTube-Kanal, alle seine Inhalte sind kostenlos.

Check out Lisa Nichols and Tom Bilyeu, they put out some pretty good stuff in terms of motivation and success. Tom actually has a YouTube channel, all his content is free.




Failing and anxiety are apart of learning something new. If you fail, get back up and push through the pain, and it’s okay to be uncomfortable.
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  #26 (permalink)
Dallas, TX USA
 
Trading Experience: Advanced
Platform: NinjaTrader 8
Broker/Data: AMP Futures w/ CQG Data Feed
Favorite Futures: GC CL ES + MES as of MAY 2019
 
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Posts: 433 since Jul 2014
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TraderTS View Post
@asyx
I thought of you...
Most of all, give yourself time!

Hey,
I thought of you again... I am writing a trading journal for myself, and for other newbies.
Check it out, ok?

https://futures.io/feedback-announcements/45552-fio-journal-challenge-november-2018-edition-w-earn2trade-2.html#post696695

Hope you are doing well!


Find the missing piece of the puzzle... Let's be amazing, be awesome in trading today!
iTS
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  #27 (permalink)
Munich, Germany
 
Trading Experience: Beginner
Platform: not important
Favorite Futures: NQ / CL / GC
 
Posts: 116 since Mar 2011
Thanks: 397 given, 100 received

"Don´t call it a comeback - I´ve been here for years..."

Last few months I racked my brain a lot over how I should tackle the trading puzzle.
Took some time, but I also think I got my self straight again and found my trading style.

I looked at a lot of markets and found that I do better in faster markets like NQ/CL than in slower markets.

Focusing on only one market, in general, is pretty rewarding as you learn all the ins and outs. Nevertheless, my brain wants to be busy. It turned out that I do better when I watch 2-3 markets.
More is confusing me. With less, I overtrade even if I know that one market better.

From now on, I mainly practice a scalping style. I tried different ones but I sucked completely at them.
I know that some experienced people are strictly against this.
However, for me, this turned out to be the only way to make my "Slope" go up.
Whenever I tried a different style, having in the back of my mind that scalping is "evil", I started to lose...and I always lost big.

Instead of how much a trader should make daily or how much I lost already, I now focus on stats regarding consistency and risk.

So - let it begin

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  #28 (permalink)
Munich, Germany
 
Trading Experience: Beginner
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Favorite Futures: NQ / CL / GC
 
Posts: 116 since Mar 2011
Thanks: 397 given, 100 received

190624

# of trades: 7
winning trades net: 86 %
profit factor net: 2.4
max. cons. wins net: 6
max. cons. losses net: 1
max. drawdown: 420 $

...I should also count how many trades I executed according to strategy.

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  #29 (permalink)
Munich, Germany
 
Trading Experience: Beginner
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Favorite Futures: NQ / CL / GC
 
Posts: 116 since Mar 2011
Thanks: 397 given, 100 received

190625 Prep

Tuesday is my best performing day. That´s why I trade bigger size today.

According to the Stock Trader´s Almanac the US indices performing badly on the second day after the June triple witching. Normally I do not give too much on such statistics.
But the S&P closes in green only 33 % of all cases. As we lately had a little bit up and down, I think many investors bought Puts.
The sellers had therefore a lot of incentives to push up stock prices last week, to make a lot of Puts worthless.
Yesterday we already saw not much interest in buying and today overnight session was already down. Perhaps the above mentioned 33 % is already in the market, perhaps there is another leg down.
Whatever in the end materializes I prefer to join momentum down over any move up and I play the downside with more contracts than moves to the upside.

In Gold there are some sharp intraday corrections, but at the moment it is definitely a Bull market.
Some Big guys announced that they are big in gold.
Thus "all" the small fund managers have joined already or will follow. Will it last? - I don´t know.
Often there seems to be a correction around the corner...

CL is struggling with moving higher.
But from my experience even then there are some guys out there with big enough balls to bid it up another 400 ticks.
I do not like those circumstances and try to sit on my hands.


Last edited by asyx; June 25th, 2019 at 09:04 AM. Reason: adding CL
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  #30 (permalink)
Tallinn, Estonia
 
Trading Experience: Beginner
Platform: SC
Favorite Futures: NAS100
 
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asyx View Post
Tuesday is my best performing day. That´s why I trade bigger size today.

Be careful with size today.

Jerome Powell Speaks
8:00 PM GMT + 3

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