Search results

I've already got my ticket for the Saturday PowerBall drawing :) but in case I don't win that I thought I should look for a plan B. Call me an optimist but I hope to find a system with better odds than PowerBall.

Which one(s) do you think work the best? Please share an example with us.

Your point about margin requirements is well taken. Even with futures, you do need some money to trade with. I'm not sure if this is clear, but the only levels that have a loss are the first 3 levels with $1,000 loss each. At the 4th level you break even. At the 5th and above level, when you...

I don't think this is a magic formula. But if you start with a small position, there are only two ways to add to your position: 1) average down (a la Jérôme Kerviel of Société Générale) or 2) average up. Averaging up takes less capital and it's probably rare that you would get a big...

I have not back tested this system yet. I do not have any backtesting software other than Microsoft Excel. You're point about gaps is very well taken. Since the ES hours are Mon/Thurs 5:00 p.m.-3:15 p.m. & 3:30 p.m.-4:30 p.m.; Shutdown period from 4:30 p.m. to 5:00 p.m. nightly; Sun & Hol...

You are correct that the ES needs to move up 300 points without a 20 point retracement to make $17 million. But even a 120 point move results in a $13,000 profit. I'm trying to "cut my losses short and let my winners run" I think a system in this vein would achieve that goal. Attached is an...

Does anyone out there have a system for adding to a position that is going your way? Have you found something that works better for you than a Fibonacci sequence but still lets you build up a big position?

Instead of using a 20 point step level you could use a smaller level, say 5 point increments. That would reduce the amount that the ES needs to move in your direction. This is an Anti-Martingale system in that the position is added to only if the ES moves in my direction.

The idea is to place the stop right after you buy at each level. For example on this level 13, 1520, 1492.12, 1500, $13,000 I buy 13 ES at 1520 which makes my average cost 1492.1212 after buying the 13 contracts. I then place an order to Sell the full position 33 at 1500. If I'm stopped out...

Did your system buy more as the price moved up or buy more when price moved down? Since my strategy only losses $1,000 per trade (and less if you use a step size less than 20 points) it seems like it would take a while to blow out a decent sized account with my system.

Traditional pyramiding on your initial position tells you to adds to your position in smaller and smaller increments. But look what happens when I add to a position in a Fibonacci sequence on the ES every 20 points along with a Stop placed at 20 points below the last purchase: Qty Bot, Price...

Woudn't this depend on the market being traded? For example, if the US equties market goes up over a period of time, that is a positive sum game (excluding commissions and fees) because the total aggregate position is a long position. If the same US equities market went down over a period of...

Which version of Windows were you installing? Windows XP Professional with Service Pack 2 has a firewall which earlier versions of Windows did not have. A firewall is a must when connecting to the internet.

Isn't there a rule that says if you own 5% or more of a company you have to make certain filings with the SEC and to describe the nature of your investment (i.e. are you trying to take over the company, passive investment, etc)? I believe Tracinda was already just under 5% in their long position...

If you don't need the ability to enter orders through a web browser but will be using front-end software, I suggest you check out www.velocityfutures.com I've heard good things about them. Once again, check to see if they trade the markets you want to trade and what your commissions would be...

Point well taken. Remember Michael Jordan and his attempts to play professional baseball.

With how much money would you be opening your account?

Yes, but I don't trade at a Prop Firm. To me, the 5 items seem to be small advantages at best. For example for items 1&2 if need capital and leverage trade futures or FX, little capital is needed and you can have huge leverage. For 3&4 Trading platforms and technology are everywhere and very...

Yes, that does sound on the high side. Would you be opening your account with at least $5,000? In my Go Futures account, I did verify that both ZG Gold (eCBOT) and CL Crude Oil (Pit) are contracts that are available to be traded. But as I don't trade these markets, I can't tell you with...

I'd like to hear from the Prop Traders out there. Why do you choose to trade at a Prop Firm instead of just opening an account at a Retail Broker? Correct me if I'm wrong, but I see a few possible reasons to go with a prop firm that may or may not be available if you went to a retail broker...