Why do you suspect your results changed? I really try to reflect my same risk adversity whether I'm trading for real or not. I doubt the execution is any different, is it your mentality, or? (Sorry just put down super trader, so i've been getting harped on about working on yourself as a trader) I like to see how others manage risk and stress.
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ES, Where to trade for low margin?
- Thread starter jmhunter
- Start date
Why do you suspect your results changed? I really try to reflect my same risk adversity whether I'm trading for real or not. I doubt the execution is any different, is it your mentality, or? (Sorry just put down super trader, so i've been getting harped on about working on yourself as a trader) I like to see how others manage risk and stress.
I have no idea why they asked for the statements. They only required a copy of my Drivers license and the risk disclosure signature.
Quote from jmhunter:
Why do you suspect your results changed? I really try to reflect my same risk adversity whether I'm trading for real or not. I doubt the execution is any different, is it your mentality, or? (Sorry just put down super trader, so i've been getting harped on about working on yourself as a trader) I like to see how others manage risk and stress.
I traded sim with 1 contract and had great results but going live was alittle different with the same 1 contract. I just didnt get the same results that I was hoping for. Got stopped out alot. Tried 4 tick SL, then 6, then 16. I did get impatient and chase instead of letting price come to me a few times. I only started with 1.1k. Im still in there though.. Still tweak'n a few things here and there. I also over traded some. Commissions began to grow rapidly. But overall I am happy. Learned a few lessons, made a few mistakes with minimal loss and I am still in the game. Once i get more comfortable I will throw some real dough in.
IMO if you only going to start off with 1 contract one only needs 1 to 1.5k. You will definitely have some growing pains so keep the losses mininmal. I rather blow out 1k then 5k or 25k. JMO. I haven't blown out yet and the learning curve is growing each day.
My only advice so far would be to let the price come to you. Even if that means missing trades and learn from your mistakes.
Right now 4 to 6 tick SL are blowing out in seconds on the ES with all the volatility these days. One has to be very precise in this market with tight stops. I'm trying the YM with a 30 pt SL and it seems to be working better. Again, I am still tweak'n things and hopefully I will have better results.. but I am still in the game and still learning and only down 2 hundy.
Quote from jmhunter:
I'm using 8 tick stops. So if your 1R is 30 pts, what your average take?
I try to get at the very least 1:2 but since I am (was) in a hole I been taking 20 to 45 points to catch up. Some were premature but some turned out to be the right thing to do.
To me, 30pts seems to beyond the random noise where as with ES 8 ticks come and go all day long. It seems one has to be less precise with the YM and 30 pt SL versus 12 ticks in the ES with respect to equal $$ SL.
Like I said I am still tweaking things but so far the YM seems a little easier to trade. Much less volume however. I am looking into the NQ as well, There are some nice threads on here regarding the ES, YM, TF and ES about R:R and which one has the best bang for your buck. ES was the least.
I would advise 1 contract trading per $25.000
In ES: 3 ticks against and you're looking to get out. 4 you're wrong. 5's trapped and'll retrace to B/E and possibly toggle 2 ticks under. 7 ticks in either direction is safe to continue with the trend.
I try not to give 3 ticks. But a point's confirmation.
This hasn't changed in three years.
I try not to give 3 ticks. But a point's confirmation.
This hasn't changed in three years.
Also, these thrill-kill crash and burn margins may go to the way-side like the 2 tonne SUV's for the Joe Isuzu tin cans on the road now. Until these past two months, the ES averaged 12.50 points close to close for the past decade. My guess, the once kings of space now in their Isuzu's once houses blow everyone's accounts out with the price-in, we'll be treating them like shit at Hawaiian Burger. And I can't wait.
Chinese, speak it.
Chinese, speak it.