Crazy paper trading day

[farmerjohn1324]

So I said I would just try something (okay, it's still paper trading because I'm not going to put real money into NinjaTrader until I find out which broker I'm going to end up using)... I just bought 3 contracts long because I thought that's what way the market is looking.

A few hours later, it's up 6 points for $900 profit.

Is this a good strategy long-term? I honestly don't know. Maybe all the other stuff is overthinking and I should just bet which way the market is trending. Go for a more qualitative rather than quantitative approach.

Btw... This is exactly what I was doing at Schwab so it's really nothing new.

I closed out for a profit of $1312.50 fake dollars (8.75 points).

Not sure how to improve upon this. I still think the market will continue to go up, but I have to take profits at some point.

 

[TheDawn]

What's your general exit or entry strategies? Not asking for tons of detail... But is it algorithmic? Manual?

It's both. I have a trading plan but I make discretionary adjustments when I see it's needed. But that's not the problem. The problem is the big drawdown that just comes once in a while that's totally unexpected. And it wipes out a majority of my profit and I have to start all over again.

 

[SunTrader]

... I just bought 3 contracts long because I thought that's what way the market is looking.
...

So that is your winning formula?

 

[farmerjohn1324]

So that is your winning formula?

Did you even read the post?

Do you have any useful input?

Are you a successful trader yourself? Prove it.

 

[SunTrader]

Did you even read the post?

Do you have any useful input?

Are you a successful trader yourself? Prove it.

I'm not the one claiming to be a millionaire builder who has never had a losing construction job. Prove that.

 

[farmerjohn1324]

I'm not the one claiming to be a millionaire builder who has never had a losing construction job. Prove that.

That's also not the point of the forum.

It's supposedly about trading strategies, but I think it's more about losers trying to insult people because they don't have the answers.

 

[destriero]

That's also not the point of the forum.

It's supposedly about trading strategies, but I think it's more about losers trying to insult people because they don't have the answers.

Prove that you made money today in a production, not sim, account. You cannot bc you're false. WTF can you possibly hope to gain with this thread?



This was also sim?

https://www.elitetrader.com/et/threads/party-starts-at-2-30-eastern.370753/page-2#post-5707879

 

[farmerjohn1324]

Prove that you made money today in a production, not sim, account. You cannot bc you're false. WTF can you possibly hope to gain with this thread?

View attachment 303251

This was also sim?

https://www.elitetrader.com/et/threads/party-starts-at-2-30-eastern.370753/page-2#post-5707879

When did I claim to be trading live right now?

No, that link was live.

I haven't done anything live since transferring money out of Schwab.

 

[SunTrader]

That's also not the point of the forum.

It's supposedly about trading strategies, but I think it's more about losers trying to insult people because they don't have the answers.

So its not the point when I ask but it is when you ask. Got it.

 

[farmerjohn1324]

So its not the point when I ask but it is when you ask. Got it.

Yea the point of the forum is trading strategies. It's not called EliteRealEstateDevelopment.

Whether the money I might use to trade came from home building, winning the lottery, owning a convenience store makes no difference to what SHOULD be talked about on here.