New E-Mini traders (under 25K traders) trading journal
- Thread starter GaretJax
- Start date
Nicodemus:
It's like Michael said it was a tight trading range with no appreciable retracements once a trend is started.
I've attached a file showing the morning for NQ. We can see starting at 7:12 we have a very orderly pullback, retraces like a dream with each bar about the same size(2 points). Then after the obligatory bear trap we are ready to move to the breakout. One bounce off of 1174 and we are off to the races. Note how the breakout did not retrace appreciably(only 3 pts). Then after that it pretty much was a straight line trend with some small pullbacks when it got ahead of itself.
8:48 to 8:56 we see it getting way ahead of itself i.e. blowoff and sure enough it reverses.
It's like Michael said it was a tight trading range with no appreciable retracements once a trend is started.
I've attached a file showing the morning for NQ. We can see starting at 7:12 we have a very orderly pullback, retraces like a dream with each bar about the same size(2 points). Then after the obligatory bear trap we are ready to move to the breakout. One bounce off of 1174 and we are off to the races. Note how the breakout did not retrace appreciably(only 3 pts). Then after that it pretty much was a straight line trend with some small pullbacks when it got ahead of itself.
8:48 to 8:56 we see it getting way ahead of itself i.e. blowoff and sure enough it reverses.
Juggernaut,
Where is that chart from? Looks nice.
Where is that chart from? Looks nice.
damonjanis: âI traded the S&P e-mini today and was profitable. I won't let it go to my head.â
Excellent post. IMHO, youâve expressed a bit of wisdom that is likely to allow you to be in an appropriate mental state so that you may have the best possible chance of holding onto those profits and generating more. Nothing like cockiness to ruin a perfectly good account.
How does the saying go? âForget your profits quicker than your losses.â Sumpinâ like dat.
Very glad to hear you did well.
Excellent post. IMHO, youâve expressed a bit of wisdom that is likely to allow you to be in an appropriate mental state so that you may have the best possible chance of holding onto those profits and generating more. Nothing like cockiness to ruin a perfectly good account.
How does the saying go? âForget your profits quicker than your losses.â Sumpinâ like dat.
Very glad to hear you did well.
GaretJax - excellent result! You made 950 bucks by trading 1 Emini NQ contract. So, you would earn $28,500 if you were trading 30 contracts, not just one.
That figure is an Americans average <b>yearly</b> income!
BTW, is it true that the maximum order size on GLOBEX-2 is 30 contracts? - I read something like that on one of the IB webpages.
Thanks
DT-waw
That figure is an Americans average <b>yearly</b> income!
BTW, is it true that the maximum order size on GLOBEX-2 is 30 contracts? - I read something like that on one of the IB webpages.
Thanks
DT-waw
hello friends!
I'm starting to Dtrade the E-mini's next week. I have opened an account to IB with 10000 $. How many contracts can I trade ? (E-mini's NQ and SP). So, there is something which is not really clear for me : what are "prices limits" which seem change every day ? Other thing not clear too : i.e a contract which expire in december can be trade till the 31 of december ?
I have been trading stocks on the Nasdaq for about 4 months and so, with the new rule I had to change the way !
(sorry for my english, I'm french...)
Thanks for yours advices
I'm starting to Dtrade the E-mini's next week. I have opened an account to IB with 10000 $. How many contracts can I trade ? (E-mini's NQ and SP). So, there is something which is not really clear for me : what are "prices limits" which seem change every day ? Other thing not clear too : i.e a contract which expire in december can be trade till the 31 of december ?
I have been trading stocks on the Nasdaq for about 4 months and so, with the new rule I had to change the way !
(sorry for my english, I'm french...)
Thanks for yours advices
def
Sponsor
current initial margin for ES = 4313, NQ = 5,250
for other CME products or up to date info look at:
http://www.cme.com/httpwrapper.cfm?...m&beginAfterRE=<body[^>]+>&endBeforeRE=</body
thus you would be able to trade 2 ES or 1 NQ to start.
when you open the account you will be assigned a minimum of 1 contract. if you want to change to 2, you will need to go to your account page on the web site and make the request.
for other CME products or up to date info look at:
http://www.cme.com/httpwrapper.cfm?...m&beginAfterRE=<body[^>]+>&endBeforeRE=</body
thus you would be able to trade 2 ES or 1 NQ to start.
when you open the account you will be assigned a minimum of 1 contract. if you want to change to 2, you will need to go to your account page on the web site and make the request.
DT-waw,
Actually that is really not that good. I watched NQ for awhile before trading as I had never traded it before. It basically went from trading a little above 1150 at 10:00 am to 1260 around 1:25 pm. From 12:00-12:30 it pulled back from around 1232 to 1211 and then it continued on its way up to 1260.
I didn't think it would go up forever and also I was experimenting with it so I was trying different stops and I got in and out a lot - 14 roundtrips total. Basically I was using stops 2-3 points under the bid so I would get stopped frequently. I was overly cautious and didn't want to get burned my first time out.
It really moves fast so I always used stops. Also I had never used IB's hotkeys - really a must with fast movers like NQ.
A run of 1150-1260 is 110X20 = $2200. If I had used a stops of 5 - 7.5 points and I had avoided the lunch pullback it was there for the taking. Normally I stop trading at lunch and unfortunately I end trading around 3:00 pm because I have to get my daughter off the bus (single dad - full time).
GaretJax
Actually that is really not that good. I watched NQ for awhile before trading as I had never traded it before. It basically went from trading a little above 1150 at 10:00 am to 1260 around 1:25 pm. From 12:00-12:30 it pulled back from around 1232 to 1211 and then it continued on its way up to 1260.
I didn't think it would go up forever and also I was experimenting with it so I was trying different stops and I got in and out a lot - 14 roundtrips total. Basically I was using stops 2-3 points under the bid so I would get stopped frequently. I was overly cautious and didn't want to get burned my first time out.
It really moves fast so I always used stops. Also I had never used IB's hotkeys - really a must with fast movers like NQ.
A run of 1150-1260 is 110X20 = $2200. If I had used a stops of 5 - 7.5 points and I had avoided the lunch pullback it was there for the taking. Normally I stop trading at lunch and unfortunately I end trading around 3:00 pm because I have to get my daughter off the bus (single dad - full time).
GaretJax
I am Realtick user...heard tnova may offer CME emini's soon. Anyone know about this. What about other futures products like BOT bonds what brokers offer them besides IB?