Advise for new futures trader.

[TGregg]

Watch out when you go to increase your trading size.

I would trade 5 ES and rake in pretty good money, but everytime I kicked up to 10 I got creamed. There's a person who goes by the handle of p^t who said he's fond of the saying "You have to earn the right to trade size." Thanks again, p^t.

It's very likely that you'll be able to convince yourself that since you've abstracted the trading process for x contracts, you'll still be abstract for 2x - but you'll be wrong.

Anyway, don't make big jumps in size like I did - once yer making money, increase *slowly*.

Also, thanks to ElectricSavant. Seeing his post inspired me to post something hopefully useful.

EDIT: Very interesting to note that the only appearance from my very lengthy Ignore List is Saynt Chaosity.

 

[DblArrow]

Quote from TGregg:



I would trade 5 ES and rake in pretty good money, but everytime I kicked up to 10 I got creamed.

I have heard others state something similar, have you anylized why, i.e. slippage, commissions, fear and greed. Given you are trading the same methodology.

I have recently doubled up on one item I trade and have not noticed this.

Make 'em pretty, Chris

 

[TGregg]

Quote from DblArrow:

I have heard others state something similar, have you anylized why, i.e. slippage, commissions, fear and greed.

In my case it was strictly emotion. About 25% of my trading was discretionary (I'm reducing that now). I exagerated a bit when I said I got creamed every time, but overall I lost money trading 10 contracts.

 

[wercurna]

I have been trading stocks profitably for about 2.5 years, nothing big but enough to pay expenses and save a little, as of late the profits are shrinking more and more to the point where i am starting to be afraid that i won't make much if this trend continues.

I understand that you need to searching for better strategies if the ones currently using are not working, so i have been thinking lately if i have to stick to stocks or start venturing into futures.

My question is, If i have been trading stocks profitably for some time and have always been disciplined about my trading.
I still fear that trading Futures will be a complete new thing.

I hope some of you experienced traders that have traded Stocks and or Futures can advice.

Thank you in advance,

 

[EMini-Player]

Quote from wercurna:


My question is, If i have been trading stocks profitably for some time and have always been disciplined about my trading.
I still fear that trading Futures will be a complete new thing.

I hope some of you experienced traders that have traded Stocks and or Futures can advice.

Thank you in advance,

I've been trading stocks for a few months now and am getting started in futures. So far, trading futures seems simpler and easier to me.

-FastTrader