I'm Trading an RJ O'Brien futures account, and so far have made a lot of money...

[Overnight]

I was entering market orders of 500 or 1000 lots a time. I made sure to go below what I assumed would be the 'limit' in a real live account.

To add, I would start with a few contract and build up margin using buying power.

I don't even know where to begin on this...

Let's start with the screenshot here...

https://www.elitetrader.com/et/thre...ade-a-lot-of-money.349461/page-2#post-5191321

So last price on that GC contract was 1646. So the sim engine assumes you were in at that price.

Current bid is 2002, current ask is 2095. 2 orders for 2002, 4 orders for 2095.

Sure, great! If you actually were in that contract long at 1646, you could fill two lots at 2002 and be happy as a clam! 350+ points of profit is a lot of money in GC.

But...Yer not going to get a 500 lot trade at that price because, well, the bid at that price is for 2 contracts. So you will get 2 lots filled. Now you have 498 lots swinging in the breeze.

It is really irrelevant though, because if you have enough capital in your trading account to be able to open a 500 lot order in GC (or CL), then you should just buy QQQ, sit back, and enjoy the ph3T l3Wtz over time.

 

[DevBru]

I was entering market orders of 500 or 1000 lots a time. I made sure to go below what I assumed would be the 'limit' in a real live account.

To add, I would start with a few contract and build up margin using buying power.

500 to a 1000 contracts in one go? You will even have bad fills by doing that in the most liquid GC or CL contract.

 

[Overnight]

Few people know that but this great movie has helped PC manufacturers sell millions of home computers almost overnight.
Before that the PC was just some odd and almost useless expensive toy, for most consumers.

Hehe, it certainly helped spawn the genre of wardialing into computer systems. (I never had an acoustic modem though).

 

[maxinger]

I love ET !!

me too.
It is ENTERTAINING.

 

[Con1991]

500 to a 1000 contracts in one go? You will even have bad fills by doing that in the most liquid GC or CL contract.

Not all in one go, no. This demo account begins with a virtual 100k. So what I did was start with say 2 or 3 contracts, bearing in mind the real life margin for outright Gold, Crude etc. Then using buying power from unrealized gains, added more and more until I hit 500 or 1000.

 

[DevBru]

Not all in one go, no. This demo account begins with a virtual 100k. So what I did was start with say 2 or 3 contracts, bearing in mind the real life margin for outright Gold, Crude etc. Then using buying power from unrealized gains, added more and more until I hit 500 or 1000.

You just said:

I was entering market orders of 500 or 1000 lots a time.

Anyway, it doesn't matter, it should be obvious by now that you will not be able to replicate this with real money, not even with just a few contracts.

 

[Overnight]

Not all in one go, no. This demo account begins with a virtual 100k. So what I did was start with say 2 or 3 contracts, bearing in mind the real life margin for outright Gold, Crude etc. Then using buying power from unrealized gains, added more and more until I hit 500 or 1000.

It doesn't work like that. Check it. Real life is rough.

Ergo, initial margin is $10,230 per contract. With a 100K account, you can have 9 contracts max on GC.

 

[Con1991]

You just said:




Anyway, it doesn't matter, it should be obvious by now that you will not be able to replicate this with real money, not even with just a few contracts.

My mistake, I meant building positions upto that amount. Indeed, it seems too good to be true. I will keep learning, as even making some money out of trading is better than nothing.

 

[Overnight]

My mistake, I meant building positions upto that amount. Indeed, it seems too good to be true. I will keep learning, as even making some money out of trading is better than nothing.

Stick with one or two micros until you know what yer up against. Then get back to us. Bye.

 

[Tradex]

Then using buying power from unrealized gains, added more and more until I hit 500 or 1000.

I like your style, using profits to add to winning positions is the fastest way to turn a modest account into a small fortune.

But it takes guts and nerves of steel, very few traders can pyramid their winnings until the end of the trend...