Mr. B’s trading journal

[Mr.B]

I work for a prop firm in Chicago and would like to keep it private

 

[rhymeswithorang]

Hang in there Mr B. Bunds and any interest rate product are a tough trade right now. At least you aren"t trying to trade tens. Could we be in the same office?

 

[lastick]

Quote from Mr.B:

I work for a prop firm in Chicago and would like to keep it private

Ok, they are very kind with you because the EUREX fees are .42 Euros RT for the Bund.

 

[Mr.B]

Just to clarrify, sorry for being confuseing. The Eurex fee is $.22 perside plus a $.25 com fee from my company plus $.02 for some other form of tax.

 

[lastick]

Ok i understand that, well 1 Euro RT is good, but you are talking in $, i suppose you mean Euros.

 

[rhymeswithorang]

don't forget that if you lose 1 bund tick, its 10 euros, really -$12

 

[rhymeswithorang]

or make

 

[El OchoCinco]

I think you first step is to try and stick to that rule below or any loss limit rule before moving forward...

Quote from Mr.B:

The rule I try to stick by is not to take more then a 3 tick loss and not to hold onto a position for more then 4-5 minutes.

 

[bitrend]

Mr. B,
Please take steve46's advise seriously. In my opinion, the Market is not designed for small fluctuations. Jesse Livermore had tested with his winning method at the bucket shops but it didn't work in Wall Street. He had to find other winning method that fit with the big move, the inevitable.

 

[Mr.B]

My problem is when the US markets open. I am usually up 4-5 ticks prior to the US 10yr. What I plan to do tomorrow is trade the Bund at night like normal and then test some different markets out on the simulator during the day. Can anyone make any suggestions on what market"s" may be easier for a novice.

Today was like every other day so far I was up 4 ticks going into the US open and within an hour and a half I was down 12 ticks.

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52 trades

-12 ticks= -120 euros