The transition to Futures trading

[Trembling Hand]

Well your e-personality seems to have improved!

Don't fret, I'm still an A-hole in real life.

 

[>Apocalypto<]

Don't fret, I'm still an A-hole in real life.

TH i very little about how you do what you do...

Do you have a set time frame or tick value for your charts? do you switch depending on the current day? I notice you post a lot of chart but wasn't 100% sure if you only use them or combine with DOM/time sale?

 

[skyQuake]

Don't fret, I'm still an A-hole in real life.

Side question, do you think this comes from years and years of a job where you are the client?
(and everyone else had better not f*** up: Broker/Data provider/Clearing/ISP or they'll get a mouthful)

 

[tech/a]

Don't fret, I'm still an A-hole in real life.

Side question, do you think this comes from years and years of a job where you are the client?
(and everyone else had better not f*** up: Broker/Data provider/Clearing/ISP or they'll get a mouthful)

Let me guess

He's Black or white ---No grey.
He doesn't suffer fools at all---let alone easily.
Doesn't like chit chat
Has a high quality Bull $hitometer.
Doesn't care what people as a whole think.
He's over 40

According to my Gastroenterologist----I'm a perfect ar$e hole.

 

[Trembling Hand]

TH i very little about how you do what you do...

Do you have a set time frame or tick value for your charts? do you switch depending on the current day? I notice you post a lot of chart but wasn't 100% sure if you only use them or combine with DOM/time sale?

I have 2 x 30" and 2 x 24" screens so I have lots of charts and DOMs all over the place. But in practise I'm using the 1 min chart to trade off, 5 & 15 min for support/resistance areas. I don't switch chart periods during the day. If I think I need to be looking at it I'll already have it somewhere on my screens.

 

[EarleTrader]

If i may ask this group's opinion: would a successful futures and CFD trader in Aus be interested in allowing follow traders to copy his trades based on a performance fee?

 

[kid hustlr]

If i may ask this group's opinion: would a successful futures and CFD trader in Aus be interested in allowing follow traders to copy his trades based on a performance fee?

Yes if the price is right

*I am not a successful futures trader

 

[>Apocalypto<]

I have 2 x 30" and 2 x 24" screens so I have lots of charts and DOMs all over the place. But in practise I'm using the 1 min chart to trade off, 5 & 15 min for support/resistance areas. I don't switch chart periods during the day. If I think I need to be looking at it I'll already have it somewhere on my screens.

Thanks TH,

BTW love your sig...

 

[Trembling Hand]

If i may ask this group's opinion: would a successful futures and CFD trader in Aus be interested in allowing follow traders to copy his trades based on a performance fee?

There is going to be some big problems getting around ASIC on that one and no ASFL. BIG!!

 

[>Apocalypto<]

well got a rough way to test execution time. take very small trades to see how fast they open and close.

times where a lot better tonight. got back on the horse. not trading as large as I have as still scared one of those will get delayed and i will cop it like i did Monday this week (caught on delay 3 trades 10eur pt busted me a up a bit.) I really want to be trading 5-10EUR a point.

A lot of nice movement on the DAX tonight still a little hesitant to hold hence missed a few pts but pulled in over 10 so happy with that. think now each day i will take micros to test the fill and close times. not sure if it a long term solution. all I've got atm is demo and its pissing me off... each day making 600-1k+ and not being able to try live 1 lots are execution tests.

not big money or anything to really excite but it's a start and it's live... hoping Monday was a once off.. for a while anyway.

 

[>Apocalypto<]

Ninja Jun demo figures... if only it was real (same method using live on 1min)

 

[Trembling Hand]

all I've got atm is demo and its pissing me off... each day making 600-1k+ and not being able to try live 1 lots are execution tests.

not big money or anything to really excite but it's a start and it's live... hoping Monday was a once off.. for a while anyway.

Why not use an Aussie CFD?

 

[>Apocalypto<]

Why not use an Aussie CFD?

do mean currency point or view or trading TH?

If trading, I watched the DAX for about 3-4 months, found this on the DAX and find it works best with it. I really like trading the DAX.

only went with FXCM as they offered Ninja, then found out you still had to buy Ninja and pay the coms if you want to use it to trade.

 

[Trembling Hand]

do mean currency point or view or trading TH?

If trading, I watched the DAX for about 3-4 months, found this on the DAX and find it works best with it. I really like trading the DAX.

only went with FXCM as they offered Ninja, then found out you still had to buy Ninja and pay the coms if you want to use it to trade.

You are complaining about slow trade time. I assume thats because your provider is off shore?

 

[>Apocalypto<]

You are complaining about slow trade time. I assume thats because your provider is off shore?

umm good point. FXCM is who i am using atm... you would think it would all be done in the US.

Looked at IG platform horrible City and CMC are others. I'll give it a little more time then look at another option.

 

[>Apocalypto<]

TH,

Question for you, what's you're opinion on this.

Can achieve profitable trading on Ninja Trader but same method really doesn't work as well on MT4 same time frame rules the lot... just different platform?

due to data display on Ninja makes it work but is a failure on other platforms due to different data display? is this still a valid method?

this has been bugging me as it exactly what i face atm.

 

[cynic]

For the benefit of those pondering the underlying cause of variances between the performance of different trading platforms, the following link might possibly offer some insight:

http://www.tools4brokers.com/products/Virtual_Dealer

 

[Trembling Hand]

Let me state my opinion on trading anything but the real futs market.

I have been looking at CFDs since their inception back in early 2000. Have traded them and probably taken close to 300 to 500g maybe a bit more out of practically no capital in that time. I know how they work. Even their dirty tricks. There is no great conspiracy like some think. They give you a tick or two more slippage than whats fair but to tell you the truth its actual better than the slippage you get hitting at market into the futures exchange on the other side of the world. Get over it - the real market is far worse. If you think that one day you will graduate to the futs and all of a sudden it will be easier give up. Its harder.

Now with that said if you haven't the capital to trade the real market you have to go to CFDs, fair enough. I understand that.

If you use their data and not the real exchange data you are without doubt setting yourself up for failure. There is a massive amount of information in the trade volume, orders hitting at bid or ask and in the way the order book is populated that you will never understand let alone be able to learn how to use. If you use the synthetic data you are accepting a fate similar to those who sit at a pokie machine feeding their wage into a hole.

Trading is a simple task. It's just buy, sell, close or do nothing, yet its an extremely hard endeavour. If you cannot understand how the prices are produced on your screen how are you going to understand what to do with them? When it starts to go pear shaped you start thinking the world is against you. That is the way trading feels a good 60% of the time. As the inevitable draw downs occur if you do not trust your data how are you going to stick at it? The only out come is frustration at your tools or even worse the development of tinhat theories. Its all down hill fast from there.


You want to trade indexs get the F#&king data first.

 

[cynic]

Let me state my opinion on trading anything but the real futs market.

I have been looking at CFDs since their inception back in early 2000. Have traded them and probably taken close to 300 to 500g maybe a bit more out of practically no capital in that time. I know how they work. Even their dirty tricks. There is no great conspiracy like some think. They give you a tick or two more slippage than whats fair but to tell you the truth its actual better than the slippage you get hitting at market into the futures exchange on the other side of the world. Get over it - the real market is far worse. If you think that one day you will graduate to the futs and all of a sudden it will be easier give up. Its harder.

Now with that said if you haven't the capital to trade the real market you have to go to CFDs, fair enough. I understand that.

If you use their data and not the real exchange data you are without doubt setting yourself up for failure. There is a massive amount of information in the trade volume, orders hitting at bid or ask and in the way the order book is populated that you will never understand let alone be able to learn how to use. If you use the synthetic data you are accepting a fate similar to those who sit at a pokie machine feeding their wage into a hole.

Trading is a simple task. It's just buy, sell, close or do nothing, yet its an extremely hard endeavour. If you cannot understand how the prices are produced on your screen how are you going to understand what to do with them? When it starts to go pear shaped you start thinking the world is against you. That is the way trading feels a good 60% of the time. As the inevitable draw downs occur if you do not trust your data how are you going to stick at it? The only out come is frustration at your tools or even worse the development of tinhat theories. Its all down hill fast from there.


You want to trade indexs get the F#&king data first.

Whilst I do understand what it is that you're saying, and am inclined to agree with much of it, the simple fact is that I am only able to trade the prices that my chosen OTC provider offers me.

As the methods I use are largely price action based, reformulation of the trading plan based upon data from what is effectively another market, is quite simply, a recipe for, all but certain, failure!

 

[Trembling Hand]

Whilst I do understand what it is that you're saying, and am inclined to agree with much of it, the simple fact is that I am only able to trade the prices that my chosen OTC provider offers me.

As the methods I use are largely price action based, reformulation of the trading plan based upon data from what is effectively another market, is quite simply, a recipe for, all but certain, failure!

MATE!!! You have no idea what you are trading. You simply do not understand the most basic fundamentals of what is on your screen and where it comes from. I don't know how much more I can say it. CFDs track the underlying futs tick for tick. That is why they call it a synthetic market.

What do you think it is that your MM is doing when they offer you an instrument and the prices change? What are you trading?