Quote from joeb8822:
I do a short vid on where the S&P futures will find resistance
and support as well as breakout and breakdown targets
If you like, check it out on youtube under
tradepilotpro
As to SIM.- Real Money trading
Psycology has such a huge impact on your trading you will
find it much different to trade the same, however your sim
trading has given you good results so try your hardest not to change what you are already doing and when you go live
STICK TO YOUR PLAN !!!!!!!!! NO MATTER WHAT
dont change it now because you are trading with real money
Good luck with your new start in the futures
you will find out alot about yourself and your emotions
when you trade, keep cool and dont get caught up in
moment, in short do what works for you !!!!
Take Care,
Joe baker
^ Thank you for being nice. I know what you're trying to say and it good to hear that other traders are looking out for each other!
I know psychology does play a big part but being middle 30ish, I consider myself wiser than most (I hope
). I certainly know you can lose you shirt when it comes to this kind of investing and I don't plan to let it get that far.For example, I had a trade, all the signals were there for a strong long, I entered and for the first five minutes, I was up 4 ticks. THEN I got greedy and the trade went against me. I kept the trade 'hoping' the trade will resume up. In the end I was down 10 ticks.
I played with all these good and bad scenarios, really taking the time to go through them and to see if I can improve. Now, for one contract, I make a mental stop of 100 bucks but if I get a positive vibe about the trade, a strict stop of 150 bucks.By, managing my money this way, I seem to be able to control my losses and wins.
Can I say to myself I know what I'm doing? No. I don't think anyone is. But I've tried hard at the simulation, I'm in the black so and I'm prepared to break my cherry or break the bank, so to speak
Another thought occurred to me. With my simulation with IB, I can enter and exit a trade quite fast. Here are the details:
I long or short limit order on the last price and I use the IB 'transmit immediately' (without the order ticket popping up) I normally have no problems getting filled, but if it doesn't transmit fast enough, I cancel and submit the order again.
Anyway, can someone tell me if I will be playing with the real thing, would I have problems getting my trades filled?
I know ES is traded electronically so should it matter?