Day trading Future for a living ES YM NQ
- Thread starter ksonsinc
- Start date
i'd say 1 out of 100 full time futures traders are still doing it full time 5 years later. actually i can't name 1 person thats been doing this full time every day for a living since 2001. can anyone name 1 person? me myself i had a very erratic performance trying to scalp but holding for 1 -10 days or more i'm running at a 90% win rate for the last 6 months. i just hit the es for 25 pts on a 2 day trade. there's just so many intraday fakeouts i wanted to eliminate that. my bread and butter this year has been stock and options still.
If you open an account with IB, you can do both. IB touts their ECN-like IDEALPRO for forex trading. The fact that they route to multiple brokers give them tight spreads.
But a number of people here have had problems with execution. Do a search. Currency futures trade on Globex, extremely fast and reliable electronic exchange. Instant fills.
Which one, eur or $? Not sure what you mean. You have a choice of currency pairs to trade. For futures, IB has fewer choices esp with the nonUSD denominated currencies. The one I trade, EUR/USD is the most liquid currency pair traded.
But a number of people here have had problems with execution. Do a search. Currency futures trade on Globex, extremely fast and reliable electronic exchange. Instant fills.
Which one, eur or $? Not sure what you mean. You have a choice of currency pairs to trade. For futures, IB has fewer choices esp with the nonUSD denominated currencies. The one I trade, EUR/USD is the most liquid currency pair traded.
on globex execution are very fast indeed'n'durin' major news announcements; liquidity is definetly plenty'n'never missed a fill so far [not many traded by da way]....can't think of a good reason why choosin' ideal over curr futs after all those complains 'bout fills'n'trades disappearin into thin air..
i've been doing futures part time ( i still have a B&M job) for 9 months and am doing well
i traded my strategies with DIA for some time before delving into YM
it is very difficult, but i am possibly the most organized, disciplined, anal person when it comes to my trading ,and i think that is the majority of the reason why i am successful
futures markets will rip yer head off if u don't have discipline and stick to your stops
i entered this field with the knowledge that over 90% failed. i have succeeded in other areas where over 90% failed, so i had confidence coming in that i could beat the #'s
i also wrote a 40 page trading manual to assist my trading
you have to treat trading like a business. it is SO easy to press a button to enter or exit a trade but you can't let the ease of trading mechanics lull you into a false sense of security
the market wants to take your money. and perverse incentives are created when u are rewarded for doing the wrong thing (like not taking a stop, and then having the trade reverse and make money). that is the WORST thing that can happen because it incentivizes doing the wrong thing
1) set stop @ entry. ALWAYS
2) have clearly defined reason for every trade. if it doesn't meet preconceived/formulated criteria for trade entry - don't do it
3) be patient. be willing to sit at the screen for hours without trading
4) euphoria is more dangerous than fear. emotions cloud logic.
5) do the research
6) go over EVERY trade after the market is closed. every trade. meticulously
7) do NOT concentrate on the money. concentrate on the setups
etc.
and be willing to lose your $$$. if you enter the futures market with money you can't afford to lose, you will lose it. count on it
i traded my strategies with DIA for some time before delving into YM
it is very difficult, but i am possibly the most organized, disciplined, anal person when it comes to my trading ,and i think that is the majority of the reason why i am successful
futures markets will rip yer head off if u don't have discipline and stick to your stops
i entered this field with the knowledge that over 90% failed. i have succeeded in other areas where over 90% failed, so i had confidence coming in that i could beat the #'s
i also wrote a 40 page trading manual to assist my trading
you have to treat trading like a business. it is SO easy to press a button to enter or exit a trade but you can't let the ease of trading mechanics lull you into a false sense of security
the market wants to take your money. and perverse incentives are created when u are rewarded for doing the wrong thing (like not taking a stop, and then having the trade reverse and make money). that is the WORST thing that can happen because it incentivizes doing the wrong thing
1) set stop @ entry. ALWAYS
2) have clearly defined reason for every trade. if it doesn't meet preconceived/formulated criteria for trade entry - don't do it
3) be patient. be willing to sit at the screen for hours without trading
4) euphoria is more dangerous than fear. emotions cloud logic.
5) do the research
6) go over EVERY trade after the market is closed. every trade. meticulously
7) do NOT concentrate on the money. concentrate on the setups
etc.
and be willing to lose your $$$. if you enter the futures market with money you can't afford to lose, you will lose it. count on it
"the market wants to take your money. and perverse incentives are created when u are rewarded for doing the wrong thing (like not taking a stop, and then having the trade reverse and make money). that is the WORST thing that can happen because it incentivizes doing the wrong thing"
I couldn't agree with that more. I learned that from my trading buddy. He gets more upset when he doesn't take a set up and it loses, then when he takes a flyer and it wins because it reinforces bad behavior.
Most newer traders won't get it. I am glad someone showed it to me. On top of that it ruins your statistical probabliities.
I couldn't agree with that more. I learned that from my trading buddy. He gets more upset when he doesn't take a set up and it loses, then when he takes a flyer and it wins because it reinforces bad behavior.
Most newer traders won't get it. I am glad someone showed it to me. On top of that it ruins your statistical probabliities.