Aphie's quest into Futures
- Thread starter aphexcoil
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inandlong,
Thanks! It looks like my system does better in a trending market, but there is a variable in my approach that, if the market starts ranging, I'll either change a component in the system or just get out of trading for that time-period.
I am currently coding the parts of my autotrader that will enter orders for me automatically. I don't know about other traders, but when I trade on a simulated account, I sometimes screw up the order entry process. I've even had limit orders getting filled that I had long since forgotten about.
I figured I'd better clean up those bad habits before I trade with real $$$.
Emotionally, my biggest problem is that of "instant validation." If I put in an order, I don't want to wait, I want the market to surge and validate my decision. Patience is something that is very hard for me to accept -- but it is crucial that I do so.
Ps: A lot of beginning traders here on ET (through their journals) appear to have instant profits for some reason and then fall into some sort of "equity drawdown blackhole."
I'm not sure how I'm going to deal with all these emotional variables, but as the day grows closer, I see this huge rift between carelessly trading imaginary money and cautiously trading real money.
I am going to print a sign and put it next to my monitor that says, "RULE #1: DO NOT FREAK OUT."
Thanks! It looks like my system does better in a trending market, but there is a variable in my approach that, if the market starts ranging, I'll either change a component in the system or just get out of trading for that time-period.
I am currently coding the parts of my autotrader that will enter orders for me automatically. I don't know about other traders, but when I trade on a simulated account, I sometimes screw up the order entry process. I've even had limit orders getting filled that I had long since forgotten about.
I figured I'd better clean up those bad habits before I trade with real $$$.
Emotionally, my biggest problem is that of "instant validation." If I put in an order, I don't want to wait, I want the market to surge and validate my decision. Patience is something that is very hard for me to accept -- but it is crucial that I do so.
Ps: A lot of beginning traders here on ET (through their journals) appear to have instant profits for some reason and then fall into some sort of "equity drawdown blackhole."
I'm not sure how I'm going to deal with all these emotional variables, but as the day grows closer, I see this huge rift between carelessly trading imaginary money and cautiously trading real money.
I am going to print a sign and put it next to my monitor that says, "RULE #1: DO NOT FREAK OUT."
Aphie,
Not only are you diving off the nine foot board, but you are doing it with 12,000 specators watching!
When I started trading futures, I made 26% in my first 9 days off about 40 trades. I then managed to lose about 60% in three days. A very humbling experience.
I nearly wiped out three times before I became consistant.
You might want to test your autotrader during lunch when there is little movement, if it stuffs up and you have to ring IB, there won't be anyone on the lines
Runningbear
Not only are you diving off the nine foot board, but you are doing it with 12,000 specators watching!
When I started trading futures, I made 26% in my first 9 days off about 40 trades. I then managed to lose about 60% in three days. A very humbling experience.
I nearly wiped out three times before I became consistant.
You might want to test your autotrader during lunch when there is little movement, if it stuffs up and you have to ring IB, there won't be anyone on the lines
Runningbear
Two weeks ago Aphie bought a call option on ORCL.........so who sez he aint a REAL trader??
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