Index futures automation
- Thread starter hilmy83
- Start date
It's good if I had 6 fig account. But I understand what you're saying.
Yes, I do trade the micro. 2 contracts for every 5k. Based on backtesting, that's the ideal size to trade this without blowing up since I do reverse quite a bit. Based on my calculation, I need a min 50k to trade the mini safely. It'll be like 2 years before i trade the mini again
So far I really like the platform. It has a backtest market replay and simulator to test the algo. . Plus a whole of more indicators that are built in, especially the volume based indicators.
MT5 is more forex centric platform to me. Maybe in about couple of weeks, I'll make the full transition once I fully test my QT bot, especially in live. God I dread the live testing sometimes cause I'm scared of it might do lol
Yea I hear ya, even a simple strategy, so many things could go wrong in live environment. I spent my most of my time learning coding/testing instead of trading these days haha. Btw thanks hilmy83 your post really inspired me to go automate
What do you think an ORB trading mentor could teach you that you can't figure out yourself by simply asking the relevant questions and finding the answers yourself through testing?
This guy trades, I think, an ORB strategy. He has a lot of stuff for free, so you could check it out to see if there's anything interesting. Very focused on risk management. From what I could tell, he would take a lot of B/E entries and the occassional big trade. I was recommended to check him out by someone else that's credible, but it's not quite my style of trading, so I only watched a few clips:
https://twitter.com/paxtrader777
I don't know your strategy in detail or typical stop placement, but BE stops on ES (and I'm sure NQ, too) too soon can be deadly as you'll get stopped out of the move on a mere retracement. Personally, I will generally B/E my entry only if the original entry is good/early and only after the initial breakout test as there's usually always a retracement after the original break.
When the market breaks out for the second time, B/E is usually safe and at a certain point you can start trailing it a bit.
Really strong trend days higher or generally if there's a big move on the Open will usually not trade below the opening low print, but could do some ranging around before finally taking off. So, the correct stop would be a bit below the opening low print. For days moving lower there appears to be some qualitative differences with more choppy counter moves before heading lower.
I agree with the other posters, though. You appear to do very well, so maybe just try to scale it instead and rather develop a new strategy entirely if you want to start taking bigger moves...?
I believe you grow as a trader (or in any other profession) through mentoring and learning from others who've done it profitably. The catch 22 is not many (if any) would share their IP freely, even with paid training.
So you just end up teaching yourself anyway (limited by your own biases). I guess that's why there are so many who fail in this field.
I've watched some of Pax's videos. I guess I trade very similar except I'm an all in and out trader. He scales out of his positions whereas I take a small chunk and move on to the next session.
But you are right, stick to what works.
Today's one of those where market got close to my "limits". Right now I'm paying it through commissions..but there might come a day where it would just get way out of my deviation limits and take me out...
sideways market is the bane of my strategy
Reminds me of this scene
Finally ran the QT version of the algo in live. Wanted to see what the execution speed is like, but QT doesn't show ms. But was able to pull up MT5 and see that it is around 100-300ms for stop/limit orders. Not bad, but it's in line with what I see in MT5. Then again, this is just one day. Will continue running on QT, hopefully with no major issues.
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Late to the party on this thread.. what is QT in your context?