Topsteptrader

[marketsurfer]

Interesting. Since they had verifiable track records to start with, what do you think happened to cause them to lose profitability? Or is it impossible to say?

I personally know of a guy who lost money to a "scam" money manager. Although in this case, when the guy was taken to court it was uncovered that he was a losing trader in his personal account before he started soliciting funds from others, so was never profitable to begin with!

Interesting, thanks for sharing about the scammer-- this business attracts the unethical in a very strong way. I guess its the appearance of easy money.

Markets are constantly changing, edges that work for awhile fail to work-- that's certainly what could have happened, in addition to the traders just getting lucky to create profitable records, outright scams, or nervousness knowing that if successful millions would be traded=== I really don't know the whys, just that this is what I witnessed.

 

[Commodity_Trader]

By definition, intra-day trend following does not exist. At least not as trend following is usually defined. Day trading is the antithesis of trend following. Water and oil my friend, water and oil.

ok Maverick, i mean someone who holds positions for 4-5 hours.he simply can not use TST

 

[Commodity_Trader]

CT, I read this thing by Russian guy in Russian. http://my-trade.livejournal.com/447365.html
I actually read his following article somewhere else where he stated that either Michael or John contacted him and he got second chance due to not getting that news schedule or something. I tried but cannot find that follow up.
Anyway, it was funny read.
I also remembered this and after getting news schedule which is very large I asked Erika and John regarding news releases relevant to my trading. i trade only ZS hence I asked if only those news that are beans and generally grains related usually released at 12:00 EST are those news I should avoid and was told yes.
Those rules must be read carefully. I will reread them once again on weekend before I start trading live.

they say all red star economic releases should be avoided or specific ones ? how do u know which news affect CL,GC ? as far as i see a lot of red star news per day .

 

[Maverick74]

ok Maverick, i mean someone who holds positions for 4-5 hours.he simply can not use TST

Sure you can. Most economic releases are pre-market or very early. You have the entire day after that. As a daytrader, why would you ever step ahead of a number?

 

[Commodity_Trader]

i trade both European and USA session ,so if it's possible it's a relief, but as i see there are a lot of red star economic releases which interrupt holding a position .

 

[Maverick74]

I would say 95% of the economic reports come out either at 7:30 central time or 9:00. Oil and gas inventory is at 9:30 and Treasury auctions usually are at noon. Every 9 weeks you have the Fed. Again, none of these reports would you want to have a position on in front of. Especially if you are a trend follower.

 

[Commodity_Trader]

well , i enter a trend before that times and of course i will encounter them .as TST calendar
shows in every day, there are some red star releases .let me ask my question in other way .which economic releases affects GC or CL or ES ? how frequently they occur ? someone should not hold position into all of those red star releases or just into some o them ?

 

[shiko2000]

I trade only ZS/ beans hence I asked about them. Beans are considered in league with other grains corn and wheat, so I should avoid all news releases that come at 12:00 EST. But it happens once rarely twice a month. All other news releases are after the market close. I also asked TST about those economic news
You need to ask which news to avoid.
Also, I had to change my plan probably few times. i actually traded once by staying in trade for the whole day...Those were my first 2 rollover Combines.

they say all red star economic releases should be avoided or specific ones ? how do u know which news affect CL,GC ? as far as i see a lot of red star news per day .

 

[shiko2000]

I also have a rule that I simply do not trade those news days at all. Just like I do not trade Fridays. Most of the time market does nothing before release and than it goes nuts. With such small risk we are given it is suicidal at least imho to go into news releases.
CT, I think you need to ask TST regarding all those releases. I also think doing some changes to trading plan or revising it to avoid all these troubles would be a good idea.
I know that price often comes back after news releases so may be a good idea to take position after news at the same price level where you would have a signal before.

 

[Commodity_Trader]

so it means only specific news (not all of red star news) affects an instrument and i should avoid only a few of them which are rare ?