Price Action Swing Trading Futures on Sim Journal

[zghorner]

That crude trade is a classic Scatty short. Obvious resistance zone. Could it really be that easy?

Probably Best not to ask the guy trading micros in a sim account on a website called elite trader...

 

[Frederick Foresight]

im short crude here.

I will be reading your book, zenhorner in the markets.

 

[zghorner]

I will be reading your book, zenhorner in the markets.

lmao yea right.

this trade is working out nicely so far though.

 

[zghorner]

this is where fibs come in handy IMO...I don't believe there is anything magical to these exact numbers in trading but they are an easy quick way to measure trend strength...like training wheels for price action.

 

[zghorner]

took a long position in corn that's been ugly since I entered. My thinking is such a strong price advance shouldn't retrace too much if it has another leg in it...if it continues to break down to 400 im out.

 

[ironchef]

you're a good lad. keep punching.

was in a similar position: left decent buy side gig at a top am firm after 10 years to 'trade' for a living. did that for 6 years with mediocre results then went back to the same co two years ago.

two observations:

1. it's pretty tough finding a job with a big gap in your resume. you are used office furniture nobody wants. i had to lean on my past coworkers.

2. i was happier 'trading' for a living with mediocre results than ive been past 2 years back grinding a corporate gig collecting a paycheck.

you gotta keep trying. what other choice you got?

Six feet under.

 

[Wide Tailz]

You might be surprised how your brain can finally flip on when you've got no other choice than to succeed.

Burning the bridge is a real thing, and can provide real results, but not if you're on the fence!

 

[ironchef]

Edge is negative with microstructure and costs. Read Bennett's book on vol (I hear that it's good) and develop an edge in vol. Swinging in macro is your only (other) shot in D1.

Yes, bid/ask costs usually eat up my edge in butterflies.

@sle introduced me to Bennett's book, for in depth understanding of option trading but I am too dumb, unable to develop an edge in vol.

 

[poopy]

Yes, bid/ask costs usually eat up my edge in butterflies.

@sle introduced me to Bennett's book, for in depth understanding of option trading but I am too dumb, unable to develop an edge in vol.

I only trade liquid FAANG tickers and index. Not an issue to trade cents off mid.

 

[zghorner]

got creamed in corn lol. This isn't the worst trade i've ever made, huge breakout to the upside, let it pull back some and entered long for continuation. Some mistakes: I held too long when it was red straight out of the gate and stayed that way almost the entire time. Poor patience for a proper setup. I also let it slide way too far against me.

The oil trade prior was luke warm....terrible ETD. I am figuring out some nuances on TV sim account. Stop orders are funky...sometime they go through sometimes they don't. Sometimes you cancel them...and then they get filled later on after you have exited a trade (notice the +14 Long MCL trade up top...that was an early stop i placed on the short trade on the bottom of the screen).