Joining the CME gang
- Thread starter hilmy83
- Start date
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Actually, an extrovert [ people person]would enjoy sharing that[lives stream/people person].
I'm an introvert myself, i never would have first shared a 200 day moving average, but since William O'Neill did that-who am i to argue with him??
And it sounds like hilmy83 is simply not cut out to work for someone else; same here/with me. .An extrovert will also do stuff like this pattern. A TN farmer , past week put out a sign, on a major TN hiWay ''free okra'' + '' free sunflowers, no limit'' And he left several knives in a bucket to aid cutting- i know 'cause i loaded up sunflowers/birdfeed. Dont like okra myself,LOL
, So here's my performance so far. Just a daily grind. I'm a big believe that you need to make money 90% of the trading days. Is that grounded or logical..i don't know and don't give a shit. If I can't do it, i'll just give up and focus on my career.
But for now I am grinding slowly (as opposed to trading like a lunatic in prior years).
My method of trading is trading around the vwap. I like using it cause like a moving average it gives me indication of what the market is doing (trending? ranging?). But unlike a moving average, it filters out noise because the volume variable makes it more "stable" and less susceptible to fakeouts. Plus i've read in different places that a lot of algos use this indicator so why not align your strategy with what's used by the bots.
So I trade the NQ on two separate sessions.
Asian 9pm-3am
US 9am-3pm (my livestream usually starts at 8:55)
I don't trade the whole damn session of course. Just when it tends to grind i trade up to that. On average 3-5 trades a day
So at the start, if the prices is above the vwap consistently (or just bounces) i take one bias only. If it crosses over or the price beyond it without making new highs/lows, i treat it like a range market and fade. Simple as that. So my strategy is a fusion of trend/breakout with fade. Usually my failed fade setups turn to breakout/trend if the price pattern looks right (no crazy crosses around vwap.
I use "support/resistance zones" on the 5 minute. I also include the highs/lows of today and yesterday and today's open as reference points. for example If price is way out beyond open or yesterday high/low, then no need to be a smart ass and try to fade that move..just go with the flow.
So that's it. It's mechanical enough for me to follow it and flexible enough that I think it can withstand all if not most market conditions.
I mean the PnL says i'm doing something right..so we'll see.
But for now I am grinding slowly (as opposed to trading like a lunatic in prior years).
My method of trading is trading around the vwap. I like using it cause like a moving average it gives me indication of what the market is doing (trending? ranging?). But unlike a moving average, it filters out noise because the volume variable makes it more "stable" and less susceptible to fakeouts. Plus i've read in different places that a lot of algos use this indicator so why not align your strategy with what's used by the bots.
So I trade the NQ on two separate sessions.
Asian 9pm-3am
US 9am-3pm (my livestream usually starts at 8:55)
I don't trade the whole damn session of course. Just when it tends to grind i trade up to that. On average 3-5 trades a day
So at the start, if the prices is above the vwap consistently (or just bounces) i take one bias only. If it crosses over or the price beyond it without making new highs/lows, i treat it like a range market and fade. Simple as that. So my strategy is a fusion of trend/breakout with fade. Usually my failed fade setups turn to breakout/trend if the price pattern looks right (no crazy crosses around vwap.
I use "support/resistance zones" on the 5 minute. I also include the highs/lows of today and yesterday and today's open as reference points. for example If price is way out beyond open or yesterday high/low, then no need to be a smart ass and try to fade that move..just go with the flow.
So that's it. It's mechanical enough for me to follow it and flexible enough that I think it can withstand all if not most market conditions.
I mean the PnL says i'm doing something right..so we'll see.
good trading. i havent seen youryoutube but so far so good. I woouldn't waste all that time and energy leasing a seat. if you look right now you can get much better rates but like anything in life you will have to ask for it. also you could link up with a prop firm b4 leasing a seat to get much lower rates almost as low as leasing and they will front you some cash.
(Looks very familiar.)
Nice, keep it up. But don't get too cocky in your trading attitude.
Else this shit happens...
https://www.elitetrader.com/et/threads/and-they-have-a-plan-live.306838/
I thought I knew the markets when I hit 50K profits. Then, the market told me something I needed to hear...Which is that I know NOTHING.
(And forget the leasing the seat thing. There's no NEED for it. If your system is that good, just scale up a little, and learn what the seat actually is and what it means for you, and why you do know NEED it? I see your statements. You are NOT pushing out monthly volume that would beckon you to a seat discount.)
Nice, keep it up. But don't get too cocky in your trading attitude.
Else this shit happens...
https://www.elitetrader.com/et/threads/and-they-have-a-plan-live.306838/
I thought I knew the markets when I hit 50K profits. Then, the market told me something I needed to hear...Which is that I know NOTHING.
(And forget the leasing the seat thing. There's no NEED for it. If your system is that good, just scale up a little, and learn what the seat actually is and what it means for you, and why you do know NEED it? I see your statements. You are NOT pushing out monthly volume that would beckon you to a seat discount.)
It's great to see someone actually running the numbers to determine the best path based on real trading!!
BUT, you left out one thang... In addition to increased data fees and seat lease costs, leasing a seat triggers SE tax (in the USA) totaling 15.3%, 12.4% Social Security Tax(only on the first 132.9K of earnings) and 2.9% Medicaid Tax with no limit.
Given that, you might consider costs (and benefits) of trading through an entity where you can financially engineer income, company benefits, deductions, and associated tax consequences.
Nice work. Good trading to you.
i'm not going for the seat until i get to 150k trading 3-12 contracts. At that point, it's worth it, even if it's just a few hundred/month savings (net monthly fees). few hundred is few thousands in a year. In my houseshold, if i can realize that kind of saving in anything, i'd go for it.
But there was one thing i didn't think about which tiddlywinks brought up
This is something i need to look into. I mean unless you're a certified cpa and has expertise in this shit, i'd rather not just dismiss somethign based on online forum post lol. i need to weigh in the savings vs tax advantages/disadvantages. Maybe i'll hit up the green trader guy or something..but thanks for letting me know
Anyway, tomorrow, i'll do a stream. My stream is always in US session. If i'm feeling talkative, i'll narrate somethin' somethin'. otherwise, it's a silent movie...just enjoy the "action" ha