Made a lot of progress, but feel like there's so much more to go...

[trader99]

years ago there was a trader on a website..not sure if this one or another..and he was considered an "expert" as he had automated his trading..trading US stocks using IB TWS as far as I remember..a lot of people actually went to his house to see him trade and we're all praise on the website after

at the time I looked at what he was doing..from the posts that is..not visiting his house..and it was very simple strategy that worked with a diversified portfolio of stocks..I can't remember how the automation was linked to TWS..but it was very simple..buy or sell the breakouts..when momentum stops go flat..wait for consolidation..buy or sell the breakouts..and he "was" making good money

the simple things are always overlooked

Interesting. I'm NOT the guy you mentioned.

But that simple strategy should work with proper risk management and trade management.

 

[trader99]

i agree a good living can be made trading the ES..but as you said one must be in total control with no silly things like wishing.. hoping and praying

also..being in the right place at the right time is of no use unless one has a sound strategy..which of course is the hard bit..takes a long time to be able to see the wood for the trees..no easy way.. unfortunately!

trader99..you are all over the place..I am not surprised you lost on NQ..even with the current HFT algos screwing up the charts the ES is still much better to trade than NQ..always has been..always will be

volatility is a two edged sword..it presents much more opportunities.. which mean much more to win..or lose..the end result will depend on how much experience one has with live trading.. available capital and time..and last but not least..a sound strategy that limits risk per trade but allows winning trades to be maximized

key is to start small..use the MES until consistently profitable every week..only then start trading the ES..again small with 1 contract to make sure the consistency is still there..greed and fear can wipe a trader out..much better to make $500 a day than to lose $5000..anytime

I plan to trade the MES for a while.. nothing else..no hurry with ES for now..a trade could last a few seconds or several hours..it all depends on what setup I am trading and what actually happens once my money is at risk!

NQ, just like all the other instruments, follow chart patterns well. It's just more choppy at times unless there's a nice trend. And I do stupid things with it(i.e. countertrend trade whereas the other instruments I don't).

I went back and analyzed my trades since 2015. And the picture is very clear. I didn't do well on index futures. 2019 is the very first year where I started doing OK in index futures, but still net down but much less than prior years.

Equities and equities options are by far my most profitable trades. I should do more of them. GC and CL are net positive this year(2019).

As they say, focus on your strengths rather than trying hard to improve on your weaknesses. StrengthFinders, etc. If after all these years, I still suck at index futures then I should just give up. Or at least spend less energy on it.

Rather than work like a dog and only have incremental improvements. Focus on my strengths or in this context instruments I have done well historically: stocks, stock options, GC, and CL.

I remember reading Dr Brett Steenberger's book "Enhancing Trader's Performance" where he talks alot about futures prop trading firms in Chicago. None of those futures prop firms are around anymore and if they are they are purely quantitative marketing making and HFT shops now. That tells you bots have edge out most human index futures traders. It's a tough gig guys.

My P&L curve for index futures is improving but why work soo HARD for so little gain when I can easily trade other instruments and make so much more without all the stress and whipsaws.

 

[sillyw10]

I will try keep it short..take your last 100 trades..show the details you think are important

few things to ponder on..

dot com bubble

professional poker playing

biggest problem major organisations face

 

[trader99]

NQ, just like all the other instruments, follow chart patterns well. It's just more choppy at times unless there's a nice trend. And I do stupid things with it(i.e. countertrend trade whereas the other instruments I don't).

Made nice $ on CL and NG. For index futures, I RESISTED the temptations to do countertrend trading like I did last Friday.

I actually even went long a few times using the MNQs. Made a pittance. This is the beginning of my self therapy to trade the index futures correctly. I think the reason I'm so psychologically afraid of going long index futures was because during my initial learning period it was during the bear market of 2001-2002 where every single rally was short lived and shorted. That's where I got my trauma about going long the index futures. I think. LOL. Afterwards I was back to corporate jobs but the trauma stuck. Now is the time to undo it.

Regardless there are plenty of actions elsewhere and easier money to be made. Trading the MNQs is a low cost way to do self therapy. Even if I'm wrong it would be very small amount.

I just need to follow the rules and execute.

 

[murray t turtle]

Day trading i hardly hold trades longer then 5-10 minutes.
Swing trading is like a hunter who sets up a trap and hopes that he will catch a prey, while day trading is like having a hunting rifle trained on the prey and you just calculating where and when best to take the clean shot so you kill the prey without having to track it for couple of miles and wasting energy and more ammo. ( ha ha the hunting metaphor is not the best description to illustrate trading but it is what it is, trading is survival of the best)

%%
Great points. Swing trading is also like using a scope rather than iron sights; cost$ more capital,+ rain can goof you up , so use scope caps.I hardly hold trades 5- 10 years,,

 

[tenny1886]

%%
Great points. Swing trading is also like using a scope rather than iron sights; cost$ more capital,+ rain can goof you up , so use scope caps.I hardly hold trades 5- 10 years,,

yes it is my objective in near future to transition into swing trading, have to build a good capital base and also use scope caps to withstand the occasional rain accompanied with thunder. For now its guts and glory. Once i become the refined hunter then definitely swing will be the way forward.

 

[murray t turtle]

NQ, just like all the other instruments, follow chart patterns well. It's just more choppy at times unless there's a nice trend. And I do stupid things with it(i.e. countertrend trade whereas the other instruments I don't).

I went back and analyzed my trades since 2015. And the picture is very clear. I didn't do well on index futures. 2019 is the very first year where I started doing OK in index futures, but still net down but much less than prior years.

Equities and equities options are by far my most profitable trades. I should do more of them. GC and CL are net positive this year(2019).

As they say, focus on your strengths rather than trying hard to improve on your weaknesses. StrengthFinders, etc. If after all these years, I still suck at index futures then I should just give up. Or at least spend less energy on it.

Rather than work like a dog and only have incremental improvements. Focus on my strengths or in this context instruments I have done well historically: stocks, stock options, GC, and CL.

I remember reading Dr Brett Steenberger's book "Enhancing Trader's Performance" where he talks alot about futures prop trading firms in Chicago. None of those futures prop firms are around anymore and if they are they are purely quantitative marketing making and HFT shops now. That tells you bots have edge out most human index futures traders. It's a tough gig guys.

My P&L curve for index futures is improving but why work soo HARD for so little gain when I can easily trade other instruments and make so much more without all the stress and whipsaws.

%%
NOT sure 100% of them are gone; but if its 95% or 97%, that tells you how hard it is[ In Chicago].LOL And somebody else got the dividends.........................................

 

[trader99]

%%
NOT sure 100% of them are gone; but if its 95% or 97%, that tells you how hard it is[ In Chicago].LOL And somebody else got the dividends.........................................

Again, I hate index futures. Lost a modest amount but so frustrating. It was so smooth sailing with NG and other instruments. I should just stop. It was a lot of work for so little gain(actually loss).

There are a few trend days in there but it was choppy land today.

 

[murray t turtle]

Again, I hate index futures. Lost a modest amount but so frustrating. It was so smooth sailing with NG and other instruments. I should just stop. It was a lot of work for so little gain(actually loss).

There are a few trend days in there but it was choppy land today.

%%
Too fast for me; i had to enter my orders pre planned + really hate to cancel anything.LOL
Even stranger, some one sent me a copy of Tech Analysis of Stock + Co[magazine]; they had that one on the cover,[mid DEC, actually a JAN issue] as rocket going to the moon LOL.

Its not rocket science; i'm expecting a strong 4th quarter. NOT a prediction, not long TSLA. Best year of QQQ was 110%+ I WOULD NOT even NAME THAT GOING TO THE MOON , even as a figure of speech. I hate summer rallies; unless all is perfect- even 1999 did not really start trending good/perfect until SEPT or OCT,QQQ.,

 

[trader99]

%%
Too fast for me; i had to enter my orders pre planned + really hate to cancel anything.LOL
Even stranger, some one sent me a copy of Tech Analysis of Stock + Co[magazine]; they had that one on the cover,[mid DEC, actually a JAN issue] as rocket going to the moon LOL.

Its not rocket science; i'm expecting a strong 4th quarter. NOT a prediction, not long TSLA. Best year of QQQ was 110%+ I WOULD NOT even NAME THAT GOING TO THE MOON , even as a figure of speech. I hate summer rallies; unless all is perfect- even 1999 did not really start trending good/perfect until SEPT or OCT,QQQ.,

Ironically, I'm doing well in this slow summer environment. With NG, it moves like molasses in the summer. Like watching paint dry. But the upside to that is that I can get in easily and just hold and get out easily with nice profits without getting whipsawed or stress.

With NQ, I see my setup but by the time I try to hit the ask the prices have already moved so much. By that point I'm not sure if I want to get in, because when I get it it's reversal time. Unless you have a lot of capital and willing to sit through the wide fluctuations then fast moving markets like NQ is good.

I like it slow and I can get in and get out with ease and make good profits with little stress.