No Fantasy - ES Scalping Reality
- Thread starter jeb9999
- Start date
A follow up to the trading tournament and my (mis)adventures trying to trade in your markets.
The software and markets take some time to understand (Iâm still not there yet). The software platform created some difficulties in trading, mostly because of the differences and functions I have been use to.
Little things like how price is displayed (candles, bars, lines) created problems in how I interpreted price action. I learned how to shift the price bars to the left for open space on the chart, but the drawing tools do not extend into the open space until the time has passed.
I still did not find a way to reposition lines or draw multiple directional forks, even after using the platform for the 4 weeks of the tournament. I do not know if it is possible.
Another difficulty was order placement.... when there are resting orders for stop & limit, the risk management would not allow a market order to capture profits without first closing the (S&L) resting orders. This function allows profits to slip away and has to be monitored more closely.
My performance was horrible; week 1 and week 2 were similar losses; week 3 was a loss greater than weeks one & two combined. Today week 4 was a profitable trading, but I contribute this more to the market action than my skill at trading them.
The tournament for singles is over and I understand that they are going to try this with groups next. It would be nice if they still allowed singles as this would help with understanding and trading. This experience was both fun and educational.
To anyone that has never traded these markets or used Strategy Runner, this tournament is one of the best tools to hone your skills and see if you can cut it without risking your money. I highly recommend it for these purposes.
The software and markets take some time to understand (Iâm still not there yet). The software platform created some difficulties in trading, mostly because of the differences and functions I have been use to.
Little things like how price is displayed (candles, bars, lines) created problems in how I interpreted price action. I learned how to shift the price bars to the left for open space on the chart, but the drawing tools do not extend into the open space until the time has passed.
I still did not find a way to reposition lines or draw multiple directional forks, even after using the platform for the 4 weeks of the tournament. I do not know if it is possible.
Another difficulty was order placement.... when there are resting orders for stop & limit, the risk management would not allow a market order to capture profits without first closing the (S&L) resting orders. This function allows profits to slip away and has to be monitored more closely.
My performance was horrible; week 1 and week 2 were similar losses; week 3 was a loss greater than weeks one & two combined. Today week 4 was a profitable trading, but I contribute this more to the market action than my skill at trading them.
The tournament for singles is over and I understand that they are going to try this with groups next. It would be nice if they still allowed singles as this would help with understanding and trading. This experience was both fun and educational.
To anyone that has never traded these markets or used Strategy Runner, this tournament is one of the best tools to hone your skills and see if you can cut it without risking your money. I highly recommend it for these purposes.
Any updates on this guy?
He updates his blog most days. http://donmillerjournal.blogspot.com/
Don Miller doesn't know yet what he is going to do when the 8 weeks with the jellies is over.
Wait and see.
FredBloggs
Guest
just finished with them eh?
its good to see you see the cycle changes at least!
I dont understand this though:
[They have sufficient capital to stay in long enough (on an intraday basis) for their edge to kick in.]
???
10 pts a day? well not in 2002! thats a function of volatility - something you dont control, especially if you only do 2-3 trades a day as you say (which is admirable. too many trade too often to give it all back as im sure you know)
dont worry, i wont pm you, but if you really have something, and have made a goood life from it, you wouldnt have a problem sharing it as good trading only benefits those whos life improves from your generosity. thats the reward - improving others lives - the aston martin and lambo only made people jealous which turned in to something ugly.
Couldnât resist to comment on Don:
As many of you have pointed out, not a shred of evidence he is a success at trading and he would most likely lose in a court of law (unless he delivered the proof).
But deep inside, I want to believe Don⦠as he gives the strong appearance ( possible illusion) of someone dedicated and disciplined in his efforts of trading and teaching and does not give out the vibe or typical large lifestyle of a professional con-man.
Other then his ranting and his annoying ego, what is more likely: someone who has masterfully executed a brilliant scam planned 1 year in advance including the cook out-getting away with it on such a large forum of onlookers OR some middle aged freak looking to get attention?
IF many of you believe the first one, then for sure it is only a matter of time before he gets caught and suffers the legal consequencesâ¦
As a trader, I wouldnât bet either way on Don Millerâ¦much better to wait for a better set-upâ¦
As many of you have pointed out, not a shred of evidence he is a success at trading and he would most likely lose in a court of law (unless he delivered the proof).
But deep inside, I want to believe Don⦠as he gives the strong appearance ( possible illusion) of someone dedicated and disciplined in his efforts of trading and teaching and does not give out the vibe or typical large lifestyle of a professional con-man.
Other then his ranting and his annoying ego, what is more likely: someone who has masterfully executed a brilliant scam planned 1 year in advance including the cook out-getting away with it on such a large forum of onlookers OR some middle aged freak looking to get attention?
IF many of you believe the first one, then for sure it is only a matter of time before he gets caught and suffers the legal consequencesâ¦
As a trader, I wouldnât bet either way on Don Millerâ¦much better to wait for a better set-upâ¦
This is absurd.
Don Miller is a member of the IOM. If he was not actually an exchange member the CME legal department would have him prosecuted for the false claim.
Don Miller had a profit of $1,635,103 for the year 2008. If he did not actually have the profit he claims he would be the subject of cease and desist orders from the NFA and the CFTC for making false claims about his futures trading.
It is now five weeks into the jellie effort. If Don Miller wasn't what he says he is then you would have heard multiple suckered jellies screaming bloody fraud weeks ago.
Don Miller uses MF Global as his clearing firm and his account rep is Pat Lafferty. You can call Pat Lafferty and ask him about Don Miller's trading.
Why don't you try to learn something from Don Miller's blog rather than writing pointless speculations?
SCAM ALERT
Don...euh...Jeb9999,
You post the exact same in another D.M. thread
http://www.elitetrader.com/vb/showthread.php?s=&threadid=170731&perpage=6&pagenumber=21
The post from "Pak" is also the same in both threads.
You guys see the games are being played with you by these guru's ?
P.S. More to come...
Don't know what you turkeys are arguing about.
Don seems like a guy who works his butt off and has a SMALL edge he capitalizes on with SIZE. The crazy markets allowed him to bank, these markets are not nearly as bank friendly.
wtf is the big deal.
ET more and more seeming like a wasteland of wannabees.
Don seems like a guy who works his butt off and has a SMALL edge he capitalizes on with SIZE. The crazy markets allowed him to bank, these markets are not nearly as bank friendly.
wtf is the big deal.
ET more and more seeming like a wasteland of wannabees.