NumberZ Day Trading Journal

[Leob]

I checked the data for ES emini on Think or Swim and it is the same data on each bar as Ninjatrader.

I don't think there is any difference between SIM data and Live data.

The problem could be emotions not the data.

 

[Laissez Faire]

SIM trading - it is like walking on a long plank just a foot from the ground.

live trading - it is like walking on a long plank high up in the air with no safety net

 

[Laissez Faire]

I checked the data for ES emini on Think or Swim and it is the same data on each bar as Ninjatrader.

I don't think there is any difference between SIM data and Live data.

The simulated feed on Ninja is as far as I can tell very good. I once had considerable slippage on ES on demo and wondered if the feed was off in any way, but checked the time and sales and could indeed verify that the market had moved very quickly through my stop on low volume.

The difference between simulator trading and live trading is that with the first you're not risking anything, but with the latter you are. And the more you risk - the worse it gets.

If you're a wealthy guy with some fun money to blow off it's not likely to cause much worry, although it still could as nobody likes to lose.

But if you have a small account that you'd really not like to lose and where the outcome of your trading operations may mean the difference between life (independence/wealth) or death (tied down to your day job) - it's more likely to affect your emotions. Especially if you start the day with 2 losses in a row.

 

[Laissez Faire]

The course is very repetitive. But it is good repetitive. It builds on same ideas over and over.

I'm really seeing things he teaches happening on the emini chart when I'm watching.

I'm very happy with this course.

I'm excited to trade for money. But I am going to wait and finish the whole course first.

Sounds good. Repetition is the mother of skill. I'm glad it's working out for you so far.

My best advice (which it seems you're already intent on doing) is to start very small when you go live. 1 MES shouldn't really feel that different from simulator trading. Build on that and very slowly add contracts.

 

[maxinger]

 

[Laissez Faire]

View attachment 270585

That right there is trading with $500 intraday margin.

 

[NumberZ]

My trade now is H1 long entered "buying the close" of the H1 signal bar.

No S/R above to take profits, so 4700 Brooks would call "round number". My order is for a 40 point profit.

 

[NumberZ]

The problem could be emotions not the data.

That's the "problem" yes. I see now that all point to fear as same problem.

"So, first of all, let me assert my firm belief that the only thing we have to fear is fear itself—nameless, unreasoning, unjustified terror which paralyzes needed efforts to convert retreat into advance." - FDR

 

[Leob]

That's the "problem" yes. I see now that all point to fear as same problem.

"So, first of all, let me assert my firm belief that the only thing we have to fear is fear itself—nameless, unreasoning, unjustified terror which paralyzes needed efforts to convert retreat into advance." - FDR

Let me say...
That the problem!
Not that the "problem"
Don't under estimate. I did...

 

[speedo]

The difference between SIM and live with skin in the game is two fold:

1) Most of the time price is gonna have to trade 1 tick thru your price for you to get filled. So to make 1 point is usually going to mean a 6 tick move is needed. On a sim the 1 point can be made in a 4 tick move.

2) The psychological end. Sim doesn’t produce the same emotions (or at least not in the same intensity) as real moola does. That is why I recommend Yvan Byeajee. Brooks says just trade the “I don’t care” amount. I seldom was successful trying to do that. I have never liked losing EVER, not even a small amount. So I needed psychological help. Others need help with hope…greed…etc. I handle greed by “grabbing them profits fast” I can always go back in if price continues. Some traders get a good profit but are greedy for more and hold for more and more and suddenly that profit dissipates very quickly. They did not grab the profit the market gave to them wanting more and end up losing or settling for less. I get greedy by grabbing my profits fast as the market hands them to me. I can always go back in.

Take today with yada yada from Fed. I was going on that first big bar (not shown on the chart as I was out taking a walk. So I waited for several bars then on a confirmed BO (my long entry bar 13:10 bar I went long) and grabbed 5.5 points on the very next bar. The market gave them to me and I was quick to grab them. I got greedy so I grabbed them. I had to leave and go do some other work after the trade so I quit trading for the day. However price kept going up. Had I been here trading I would have been making multiple entries and exits probably up to the close of the session, grabbing them profits each time, and also compounding.

I am reminded of the little boy who approached a man with his hands closed. He told the man he had a really really fast bird and that he would bet the man 5 dollars that he would not be to grab the bird when he opened his hand. The man took the bet and got himself in position and ready. He told the boy “open your hands.” The boy opened his hands and the man snatched at his hands as fast as he could but all he grabbed was some bird poop. He couldn’t believe it as he never saw the bird fly off. He asked the little boy “where did the bird go?” The little boy said as he picked up the $5.00 “I don’t know where he went but I told you he was a really really fast bird. Bird done sh&t and gone.”

In markets that way. Profit then boom they are gone.

View attachment 270572

It's good to be conservative regarding fills on SIM trades but I've found when forward testing a new strategy with NT and CQG that the SIM algo's are quite accurate to live trades. One thing I do recommend is setting targets quickly after entry. The sooner you get in line, the more likely you get filled sooner rather than later. I have default settings in my ATM and adjust according to the parameters of the trades right after entry, first stop and then targets.