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ES (Sim)

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boofis said:
I'm not sure that we're on the same page terminology wise: 4 ticks = 1 point, that max winner you saw from last night is 3.75 points = 15 ticks.
The group of 4 trades at 0.25 points were my one tick winners.
Click to expand...
Oh ok! LOL ignore me!!
 
Haha, balls you had me worried, I deliberately focused on longer moves last night and they were still too small! :1zhelp:
 
Trembling Hand said:
Oh ok! LOL ignore me!!
Click to expand...

Just trying to clarify TH, its not everyday you get to learn from a prop trader so we all just want to clarify to be sure. ITs like learning something from tweets...

Its all very much appreciated

Cheers,


CanOz
 
CanOz said:
Just trying to clarify TH, its not everyday you get to learn from a prop trader so we all just want to clarify to be sure. ITs like learning something from tweets...
Click to expand...

The thing to remember about this stuff that prop introductory courses dribble out is that they are just exercises. For complete newbies. Its just a small step in developing a method. They aren't expecting you to go live with these methods. What they are doing is getting you to, for example, practise backhand returns for a week, just to get the Myelin laid down.

What you end up going live with is most probably a million miles away from jobbing ticks.
 

Yup, got it...
 
So with your knowledge of prop shops, from the few things I've read the ability to scale up in size, and consistency are two things they want out of an individuals trading i.e. if at the end of 2013 I go to a propshop with a brokers statement showing profitable history along the lines (and hopefully improved on) of what I'm doing here, is that going to assist in getting a foot in the door?
 

Can't you just go and pay the money and take their course. They keep you on if your any good. If not you go your own way. Why spend capital when you can just take the course?

Have you contacted them yet Boofis?

CanOz
 
CanOz said:
Can't you just go and pay the money and take their course. They keep you on if your any good. If not you go your own way. Why spend capital when you can just take the course?

Have you contacted them yet Boofis?

CanOz
Click to expand...

Yeah you can but I'm assuming they have quite a few candidates and the ones they keep one would be showing out of the ordinary potential.
I feel more comfortable this way as it still gives me the option of taking the course down the track if need be, but feel far more confident developing skill over time rather than going for an all or nothing shot over one month trying to learn from their course and get a shot.
Na, haven't contacted yet Oz. Got a foot in anywhere for me haha?
And in terms of spend capital; 2.5k for their course = 200 ticks worth of bad trades on the ES ha, so having not put my real account at risk yet, I feel I'm still ahead.
 

Fair enough...something to consider for the future i guess.

CanOz
 
In the meantime have a look at this.....

Some good book references in there...

CanOz
 
Well here it is, nice and inconsistent d'oh.



After watching that emini day trading thing posted in another thread he said he advises using greater than 1.5 point stop (with his being 4 point stop :| )so I tried loosening my stop but think I am happy with a 4/5 tick stop. The bigger losers nearly cancel out the winners and the ones that were losers if closed at 4 ticks rather than where they were things would've looked alot nicer.

Caught a nice bigger move which I was pleased with.
Bad habit for the night was to use size to end on a nice note after so many losing trades in a row shhhh I know, bad.
 
Interesting night. Had some good A'ha moments as well as some new questions:
*Started off the night terribly and would've stopped trading due to taking out limit, but one cannot go onto sim when they're already on sim so I carried on and made some ok trades afterwards.
*What's the general consensus on adding to a position as it moves your way? I ask as I seem to do better when I make a single entry and almost a single exit without adding to or trailing anything really.

The Stats



Whats most important to improve on? Minimise the extent of the losers would make a big difference, now to actually do that ha.
 
What browser do you use Oz? Wouldn't play on Chrome for me but got it fine on IE.
 
Still cruising along with SIM, valuable time. Things get a bit tight between uni, work and sim time but not for much longer yewww.



Trading summaries of the past few days. Relatively speaking low volume and range on ES, a few things have been sinking in with the trading. Have been consciously trading less and watching more while no pressure of real finance on the line.
 
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