S/R Emini Journal

[4re]

Quote from YMZ:

As the insults start flying this thread will become like so many of the others on ET. Why don't we nip it in the bud right now? For a business where you have to accept being wrong so frequently, we would all do so well to carry that through to our personal lives as well. It really does not matter who is right or who is wrong...who knows more than the other etc. What matters is that the thread is productive and benefits those who contribute and those who want to quietly sit and learn.

I totally agree. I can do without name calling on here as it is just a discussion. I went back and re read this mornings post and I see where it wen twrong.

The first post by Brandon he is questioning some of the fuzzy math and pointing out that this is where people get messed up. We all agree on this...

Then the second he is saying that most of us get 500 per contract for intraday. Never does he say that is what he is going to do.

I don't think there was any backtracking or anything like that. I even misread it in the beginning. I think we are all on the same page and their should not be any arguements.

 

[JimmyJam]

Quote from brandon12:

Lol i had no idea i was talking to a guy with 3 weeks exp. I've traded 10's of thousands of es's and you got the gall to school me? I'm very sorry to the board but if i knew i was arguing with a 3 week trader i'd have shut my mouth. my bad

No uh, um person who doesn't understand what I'm talking about, the system is new, not my trading ... and yes, I am sure you do trade 10's of thousands of es's (but you better make sure the brokerage doesn't make off with your money like Refco).

Later,

JJ

 

[4re]

Quote from JimmyJam:


P.S. Gary agreed with you because he didn't want to hurt your feelings, he feels that if your complete lack of knowledge of trading futs and curreinces is exposed then other newfolk won't want to engage in posting.

And just for the record. If I have to hurt somebody's feelings to protect them from themselves I won't hesitate to do it. But I do it through PM because the truth is bad enough they don't need or deserve to be embarrassed in front of everyone else. I want eveybody to survive the beginning stages of trading.

P.S. I would love to try to turn 30K into 150K in a year. If someone would front me the money. Don't have the balls to do it with my money.

 

[JimmyJam]

Quote from 4re:

And just for the record. If I have to hurt somebody's feelings to protect them from themselves I won't hesitate to do it. But I do it through PM because the truth is bad enough they don't need or deserve to be embarrassed in front of everyone else. I want eveybody to survive the beginning stages of trading.

P.S. I would love to try to turn 30K into 150K in a year. If someone would front me the money. Don't have the balls to do it with my money.

Wow, you're honestly telling me that averaging 20 to 22pts a month appears to be so impossible?

You don't record your trades and use benchmarks in your trading?

Trading stocks / futs / currencies are the same?

U.S. regulated exchanges markets are the same as FX bucketshops?



Now I know (not).

Later Gents,

JJ

 

[volente_00]

Quote from JimmyJam:

Hey Vol 00,

Welcome to the party. Depending on your trading personality and style of trading, there's a huge difference between trading 1 contract with a $1,000 margin (performance bond) or $4,000 maring (performance bond).

One $ amount is going to require tight scalps to make your dough (which I know you can do), the other $ amount is more appropriate for trying to catch the intra-day trend (and may be held for overnight or longer), which once again, I know you can do.

Oh yeah, one dollar amount has an almost negligible risk-of-ruin, and if a position or two goes against you (uh, it's bound to happens sometime :eek: ), it's no biggie, whereas with the other $ amount ..., regardless, I don't really know of anyone who trades with $500 perfomance bond and has not blown out their account, though it seems that brandon12 knows lots of traders who do it, like, everyday (talk about LOL, hell, ROTFLMAO hysterically!).

You vary your margin by the type of trade you are taking and/or the setup, this money management technique probably gives an insane positive expectation on your trades, and if you don't, you should - thanks for the information bro.

Later,

JJ

First off $500 margins are not given for overnights. And my other point is if you are trading with 10 point stops, which is what the $500 margin covers then you have far more serious problems to address.

 

[romik]

Quote from volente_00:

First off $500 margins are not given for overnights. And my other point is if you are trading with 10 point stops, which is what the $500 margin covers then you have far more serious problems to address.

My broker puts in a margin call after 8 points down and closes on 9, assuming there is no more money in the account. If one uses the whole cash account as 100% collateral against margin, then there are high odds of failure, as after one bad trade account size is reduced by 20% on a 2 point stop and 100% on a 10 point stop. Normally I start with 0.5% risk to capital and raising it to 2-3% max. I use $500 margins and have no problem with them using 2 point stops, though theoretically I can be 20,30,40,50,etc points down and not get a margin call, due to position size vs net account cash value. So it's not always scary to be 10 down on $500 margin.

 

[4re]

Quote from JimmyJam:

Wow, you're honestly telling me that averaging 20 to 22pts a month appears to be so impossible?

You don't record your trades and use benchmarks in your trading?

Trading stocks / futs / currencies are the same?

U.S. regulated exchanges markets are the same as FX bucketshops?



Now I know (not).

Later Gents,

JJ

No, I don't record any of my trades I have always said I look at my monthly statement and based on it i decide when it is time to compound my contracts. I do not increase my trade size until I can double it. Which I just did again yesterday. Once I got to a certain level I actually decreased my risk on my account while increasing the number of contracts traded.

Next question: I have never traded currencies. But as far as stocks and futures yes they trade the same. I look at the same chart for the same patterns. I did not daytrade stocks I held them for sometimes up to 2 weeks. But the daily charts work the same as intraday. Made a few modifications but not much. Same goes for options only Bollinger Bands were more important for options than stocks or futures the way I trade.

 

[LondonUSTrader]

Quote from brandon12:

London show me were you make 150k a year off a 30k account?The math looks pretty on paper but it's not reality. If you make 5 times your money on a 30k account each and every year you'd be one of the greatest 5 year investors out there. Sure there's someone out there who's done it but it's as longshot as winning the lottery.I'm not here to argue i'm just informing people that just because futures allow huge leverage doesn't mean your returns on your account over many years will be any better than a stock account. So if you have 30k in your futures account and avg 10k on that thats 33% a year and doing very well. Same as a stock account with 30k making 33%. That's the reality of investing wether it be stocks,options or futures. WHO SAID IT WAS OK TO CONTROL 60 CONTRACTS WITH 30 K? I USED THAT AS AN EXAMPLE. I'M STATING FACTS THAT FEW PEOPLE HAVE OVER 30K IN THERE FUTURES ACCOUNT AND THEREFORE FEW PEOPLE CAN MAKe OVER 30% YEAR IN AND YEAR OUT ON THERE MONEY SO THAT NIXES THE IDEA OF MAKING A LIVING TRADING FUTURES WITH 50K OR LESS. BUT YET YOU'RE TELLING ME YOU CAN MAKE 150K ON A 30K ACCOUNT TRADING CONSERVATIVELY AND I DISAGREE 100%.I'M TALKING CONSISTENTLY YEAR IN YEAR OUT.Hell i can count the # of people on et who have been trading futures full time for 5 years are more much less been profitable in that time frame.

First point, trading futures has nothing to do with investing. So, in my view, talking about % returns and comparing that to investing is way off the mark.

Second point, I never worry about what other people do in trading. The only thing I need to worry about is my own trading and whether I am happy with my stage in the development cycle.

Third point, the number of people on ET who allegedly trade successfully is irrelevant. The only relevant point is your own experience in the market.

Fourth point, most people don't survive the learning curve in futures. It takes 3-5 years just to find a profitable system that is consistent usually. It has taken me 3 years to find a good way to trade intraday after being a successful long term trader.

JJ, anyone can PM me anytime. No problems there as far as I know.

 

[princessa]

Quote from Thom64:

Greetings,

Would you mention your good trade,QM is the only one that moved nice,unless you shorted the QG?



cordially Tom

not trading futures, just equities for now. watching futures traders and hoping to learn...


btw, i now have my paper trading account set up.

 

[princessa]

Quote from LondonUSTrader:

Ahh, but does the volume suggest whether they actually profit?

Second point, have you ever traded the ES?

Third point, anything that isn't daytrading is easier on the psychology, and anything that isn't leveraged makes it even better. So, swing trading of stocks comes to mind in that regard. Although, there are no "easy money" markets. If you want "easy money" may I suggest you stick your money in a bank account and forget about trading.

Cheers.

amen, brother....