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An opportunity to trade a live account worth 10-25 thousand dollars exists. A much wiser option for me at this time. The Gauntlet is the name of the trading challenge. I will do that. Once my current demo account is complete I will sign up for the offer. A much wiser choice for me at this time.
Can you help answer these questions from other members on NexusFi?
I promised this community and myself explanations of each trade I take while on this Sierra Charts demo........
Renko boxes...it helps me focus on price by removing wick noise and allows me to calculate losses and profits quickly; each box has a predetermined cost due to its size
Automatic trend lines...I prefer computer generated trendlines to remove subjectivity from this sort of analysis
Volume by price...Helps me determine "hotspots" of trading activity which gives me better entries and also helps me with possible future movements of price
Fractals...Shows me past turning points of price and helps to confirm trade entries
I removed parabolic sar and oscillators from my charting because I tend to base trades on them; they lag so I have no use for them.
For the rest of my demo trial I will ONLY use these tools and will NOT use another platform simultaneously. My next step is to define my entry rules and money management rules......
I tried Renko bars once but was absolutely destroyed. When I went back to candles I began to appreciate all the information in all those tails. I learned alot about price action after that. So my renko experiment panned out alright in the end.
It's the wicks that get me with the traditional candles. But I did notice while demo trading last night that at this stage of my development I need to use both candle types to make the most informed decision.
The price movements/orderflow/volume you see on a futures demo account will be exactly the same as a live account. The only difference will be whether your sim platform fills you realistically on limit orders or fills you at the front of the queue which won't happen in reality when placing live orders. The Gauntlet or similar is a good idea.
You do not win as a trader, you just get to play again the next day. If that game doesn’t appeal to you then you should not trade. Gary Norden
i see what you saying man.........the fill............i place market orders 95 percent more than i place limit orders........
which brings me to a question................futures brokers all work the same or not?
I say this because I have a forex background....i have been trading futures on demo for almost a year now........
Are Limit Orders truly guaranteed.....Stop Loss Orders truly guaranteed........and where market gaps influence this.....
That is my futures knowledge gap............help me out
like .... tell me more about the que......i just i will start studying order-flow since I already study volume by price
I went through this too, it is why I went looking for answers and found this forum. I sim-traded September-December 2018 and it was so good I had to go live. I would just watch the price-action and when the chart got out of whack i would enter the position that would most likely make the chart look balanced again.
I think with what I have learned in the last few weeks you would call it price-action trading maybe, just going in with 2 contracts for about 8 ticks and flattening was all I'd do, and the volatility was good so I would enter the reverse trade right away, get up about 16-20 ticks very simple.
I think one thing that harmed me was that I would place trades so fast I wouldn't enter a stop-loss, and that was un-realistic for live trading.
Once I went live in January it sort of worked but I quickly found my losses to be more frequent. I also panicked and closed out with 2-tick winners because of the pressure. I actually would line up the simulator chart against my live platform to make sure the data was correct because I had a lot of confidence my trading should work. Of course the data was the same.
What saved me with live trading is having solid risk-management. I know ahead of time what will happen if I lose, I know what % I am willing to lose so I am able to commit. I did not experience any slippage, just panicked trading which I'm getting over.
I think getting bloodied a little with a real account taught me what I am up against and will shine a light on flaws in yourself and trading. It is what led me back to sim, and here to this forum because I found I didn't have all the answers.
I don't think for a second that I won't be successful at this, I just need to be patient and learn much much more.
So I agree. Sim-trade, get some live experience, retreat back to sim (if necessary), repeat. I want to keep a feel for live trading, but risk-management is always key. Track and quantify what you can measure, so you narrow the unknowns.
