The transition to Futures trading

[tech/a]

Closed 417
40 ticks for the night.(About an Hr)

 

[Nortorious]

My first attempt at applying my strategy in the futures/forex markets and instead of going long, went short (first attempt at this too).

Don't ask me why I went with UK100 or why 15mins but the chart pattern looked like something I could trade.

I was using a demo account from CityIndex and placed my trades between 8pm and closed at 1am. Result was a profit (albeit) of $2.5k and reflecting this morning, it appears I closed out and went to bed just before the second half of the move.

I'll be looking at moving into these markets in the future and have started reading this thread from the beginning (got through 31 pages last night).

I like to trade with an understanding of the volume but I couldn't find it on the CityIndex platform. I do have TradeGuider RT but haven't hooked up any data. Is that the best way to be able to see volume Tech/A and Pav?

Basically need some guidance on the following:
- How to get volume for futures/forex markets (and which providers are cost efficient)
- Best broker to be using for this type of trading
- Any books that are good for background understanding of these markets
- What time do markets open? (I'm looking how I can combine with my full time work - get home from the office at 7pm).

I look forward to dipping my toe in and learning about this other trading avenue. As some would know, I'm in stocks and have my capital fully deployed at the moment so won't be trading real cash at the moment.

Happy to get any PMs if you don't want to fill up the thread.

Thanks folks

 

[tech/a]

Basically need some guidance on the following:
- How to get volume for futures/forex markets (and which providers are cost efficient)

There are some arguments as to tick volume V number of trades volume. Tick volume which is easiest to get is in my view best ---although we are investigating trade volume(Bought from Tick data.com) All our Historical testing data is from Tick data.

So we use both IBs for sim (Which we find in sim is glitchy particularly the HSI) and I use for trading Esignal.

-

Best broker to be using for this type of trading

I think an account with IB is best (Interactive brokers) There are others.

- Any books that are good for background understanding of these markets

The markets themselves V methods of trading them?

- What time do markets open? (I'm looking how I can combine with my full time work - get home from the office at 7pm).

http://futuresonline.com/trading/trading-hours.cfm

Just navigate the tabs
Of course you'll need to convert to your local time.

That was a great trade by the way.
Guess or calculated?
If calculated your well on the way! And it IS very exciting!

Don't also forget the mini's
For your times Europe/Currencies/Commodities and possibly US markets seem best.
Keep us informed through your journey--looks like another one is joining us.

 

[tech/a]

Some Emini Info.

http://www.investopedia.com/univers...i-futures-contracts/other-emini-contracts.asp

 

[pavilion103]

An update.

I haven't had much to report the past few weeks. Not much success in terms of big moves. This ranging market is frustrating me and hasn't been worth the time I've invested.

I've jam packed my schedule with early starts, work, trading, study, church commitments. I am doing way too much. Thankfuly this is the final year of study so that will free up a large chunk of time.

Earlier in the year I was suffering symptoms of stress and also had a virus. It went away for a month but has now returned. It appears the stress of everything has brought this on. I've felt anxiety and overwhelm which is very foreign for me. Had a whole bunch of tests which were all clear.

I'm going to step back for the next week completely. Clear the mind. Even got about a week off work. No work, no trading (except maybe minor updates to my other thread).

The body is telling me I need a break.

 

[pavilion103]

I think also the targets I've set have put pressure on me so I'll need to just leave that alone and when I get back into it, get back to just trading well and the results will come.

Also will need to reduce my posting on ASF for a while. In the moments I've had to just sit back for s few minutes I've been posting when I really don't need to. Just another thing to think about!


I'll get back into it in the not too distant future

 

[BeanJumbler]

I think also the targets I've set have put pressure on me so I'll need to just leave that alone and when I get back into it, get back to just trading well and the results will come.

Also will need to reduce my posting on ASF for a while. In the moments I've had to just sit back for s few minutes I've been posting when I really don't need to. Just another thing to think about!


I'll get back into it in the not too distant future 

Sounds like a well earned break is in order.

Thank you for all your postings sir. We look forward to your return

 

[Newt]

Yep, you've got plenty of credit on ASF to take time out Pav.

Something to respect about Al Brooks is his fundamental belief that trading should be enjoyable, or else something is not right. Hope you recharge and find your way back when feeling the need again or personal time better allows.

 

[Nortorious]

There are some arguments as to tick volume V number of trades volume. Tick volume which is easiest to get is in my view best ---although we are investigating trade volume(Bought from Tick data.com) All our Historical testing data is from Tick data.

So we use both IBs for sim (Which we find in sim is glitchy particularly the HSI) and I use for trading Esignal.

-

I think an account with IB is best (Interactive brokers) There are others.



The markets themselves V methods of trading them?




http://futuresonline.com/trading/trading-hours.cfm

Just navigate the tabs
Of course you'll need to convert to your local time.

That was a great trade by the way.
Guess or calculated?
If calculated your well on the way! And it IS very exciting!

Don't also forget the mini's
For your times Europe/Currencies/Commodities and possibly US markets seem best.
Keep us informed through your journey--looks like another one is joining us.

Thanks for the reply Tech. I'll look into Esignal and I'm aware of IB so will check them out to see what their requirements are to get started.

Will read up on those two links you provided and might do some further googling today to learn some more. The books I was looking for are more on how the markets work (contract sizes etc). I have my own strategy which is a combination of Wyckoff, Darvas and Weinstein. Applies fairly well trading both ways...

It was a pretty nice first trade (even in demo mode) as it behaved appropriately. I would say it was calculated as I traded it in accordance to my strategy/plan. Although moving further down after heading to bed, being able to close out a profitable trade was ideal. Obviously staying up a bit longer may have meant further profit....

Will keep you informed on how I'm progressing and any trades I take, be it in demo mode or when I dip my toe into the water.

And yes it is VERY exciting if I can create another income stream (or at least grow my capital and better than the cash rate) using this trading...

 

[Nortorious]

An update.

I haven't had much to report the past few weeks. Not much success in terms of big moves. This ranging market is frustrating me and hasn't been worth the time I've invested.

I've jam packed my schedule with early starts, work, trading, study, church commitments. I am doing way too much. Thankfuly this is the final year of study so that will free up a large chunk of time.

Earlier in the year I was suffering symptoms of stress and also had a virus. It went away for a month but has now returned. It appears the stress of everything has brought this on. I've felt anxiety and overwhelm which is very foreign for me. Had a whole bunch of tests which were all clear.

I'm going to step back for the next week completely. Clear the mind. Even got about a week off work. No work, no trading (except maybe minor updates to my other thread).

The body is telling me I need a break.

Hey Pav,

Sounds like you are living quite a busy lifestyle! A bit of stress and a virus can knock you about so take it easy and rest up. Clearing the mind always helps get rid of any anxiety so as you are doing, step back, chill out and refresh and recharge.

We look forward to having you back but also want you to be healthy and in the right mindframe so you can be a success when trading. Take it easy buddy!

 

[Nortorious]

Esignal data ain't cheap is it? Wowee

Might be working on the demo account for quite some time in order to have enough capital just for the data feed! haha.

Set up costs look like they might prohibit me from getting into these anytime soon (given you need $10k to put down in the account just to get started). All my capital is in stocks at the moment and I'm only just scratching the surface for futures.

Perhaps I'll track my performance on the demo account over the next month and see what my performance is like to see if I can justify the investment to get started with this type of trading. Risk v Reward.... always considered by a good trader!

 

[CanOz]

Esignal data ain't cheap is it? Wowee

Might be working on the demo account for quite some time in order to have enough capital just for the data feed! haha.

Set up costs look like they might prohibit me from getting into these anytime soon (given you need $10k to put down in the account just to get started). All my capital is in stocks at the moment and I'm only just scratching the surface for futures.

Perhaps I'll track my performance on the demo account over the next month and see what my performance is like to see if I can justify the investment to get started with this type of trading. Risk v Reward.... always considered by a good trader!

Esignal is extortionatly expensive. It's good if you need intraday ASX though, other than that why would you bother....IBs historical data is limited using the API...I still like my CQG data through AMP....Oh, esignal has no level II the kospi or the HSI....weird. So many issues with data when you're retail...

 

[RGTrader]

I need some help from the more experienced traders in regards to some services.
Did any of you write automated scripts that are automatically executed in C++?
Are there hosting solutions for US markets that any one has used?

Thank you for all your help.

RGT

 

[tech/a]

I need some help from the more experienced traders in regards to some services.
Did any of you write automated scripts that are automatically executed in C++?
Are there hosting solutions for US markets that any one has used?

Thank you for all your help.

RGT

We are currently writing systems in python.
IB supports Auto.
Very much in development at this stage.

Im pretty sure Radge has some of his Automated through IB

 

[artist]

I need some help from the more experienced traders in regards to some services.
Did any of you write automated scripts that are automatically executed in C++? RGT

Howard Bandy Consulting may be of interest to you, depending on just what it is you are after. http://www.blueowlpress.com/

"Beginning either with your concepts and ideas or with existing computer code, we will help you design and implement the trading system that fits your requirements."

"Your system can be coded using the C++ language and compiled into a dll file, giving advantages of faster execution speed and helping to protect the trading system methodology."

"All work is done under strict adherence to your non-disclosure requirements."


(I have never had any communication of any sort with Howard.)

 

[tech/a]

Just on that.

Howards book (The last one ) has been in valuable when it comes to coding up Amibroker.
According to my programmer.

 

[Modest]

Just on that.

Howards book (The last one ) has been in valuable when it comes to coding up Amibroker.
According to my programmer.

Hey Tech/a I think it was you who suggested to people to create an account with IB and fund their account with the minimum required then setup the demo then withdraw the amount. Do you know if that is still possible?

Since I am 25 I can get away with a 3,000USD minimum deposit for individual account which is easier than 10k

Are IB good to go for futures?

 

[tech/a]

Hey Tech/a I think it was you who suggested to people to create an account with IB and fund their account with the minimum required then setup the demo then withdraw the amount. Do you know if that is still possible?

Since I am 25 I can get away with a 3,000USD minimum deposit for individual account which is easier than 10k

Are IB good to go for futures?

Not sure.
I did it with Kris but never withdrew back
To the minimum.
Can't see why a minimum wont do the trick
IB are fine for futures

 

[barney]

create an account with IB and fund their account with the minimum required then setup the demo then withdraw the amount. Do you know if that is still possible?

For your info from IB


As the IB business model, by design, is oriented towards active traders, there is no provision for dormant or inactive account status. As long as an account remains open it will be subject to the monthly minimum activity fee of USD 10 if the account balance is above USD 2,000 (or equivalent) and USD 20 once the account balance falls below USD 2,000 (this minimum activity fee is set at USD 3 for account holders age 25 and under). Also, should the account balance falls below USD 2,000 IB is precluded, by regulation, from affording margin treatment to securities positions. In addition, account holders will also be billed for any market data subscriptions maintained and, as a matter of policy, will have subscriptions terminated automatically when the account balance falls below USD 500.

Also note that the monthly minimum activity fee will continue to be assessed until such time the account no longer has equity, at which point it will be automatically closed. Any request to re-open a closed account will require that the account be funded with the minimum account opening deposit of US 10,000, or equivalent.

 

[Modest]

You guys are a great help I'll call today and confirm a few things. Hoping to get my feet wet in the ES ASAP