brownsfan019

Saw this on the ZN 15 min. I didn't trade it directly but was long into that move up. Not sure if this qualifies as an exact setup as Thales uses, but thought I'd share.

It's more fun when I play connect the dots.

So brand new person #1 asks what to do and brand new #2 person (whose username would imply they are a trading 'coach') suggests that they get a coach. Big surprise. Where is #3 asking for the website of #2 so that they can just 'help' out #1? :rofl:

I use OEC and have for awhile. We even started this area of the forum for discussions pertaining to them or the software. Feel free to ask away or send me a PM.

9-30-09: +$234.37 Profit, yes. According to plan, no. Shoulda been more...

Do you routinely cancel orders once they are approaching your initial entry point? Is this a common practice for you? Just curious to see when a trade might actually get filled.

Interesting, thanks for posting. I'll be watching for reviews of this to see if it can compete w/ other free software.

Speaking of chart color backgrounds, I've been told by my eye doc that you want an off-white color as your main background color. You don't want bright white, but something like an egg shell in terms of what is best for your eyes. For awhile I used a black background as I thought it was pretty neat looking but it does cause your eyes to focus more and bring the other colors to the front. Just my

9/29/09: +$148.75 This is what not following your plan 100% will do. I screwed the pooch on the NQ today and dropped the ball on the ZS. ugh.

That's all I need to know right there. The beauty of this business is that the barrier to entry is simply a matter of cash. Anyone w/ a dream and cash can play. My suggestion is to first realize that 'quickly as possible' will result in ruins if you think you can beat the market in a matter of days, weeks or months. It's not easy and quite a few give up before even turning a small profit. I would argue that it will take years to perfect your trade and in the meantime you have to survive long enough to make it. The 1 tick to millionaire riches has been discussed in depth on the other trading forum (which is taboo to list here) so I suggest you hunt that thread out and read it. Some of the so-called elite traders visit it. In theory, you've got a great idea here. And if you are right more than you are wrong, it might just work. But first you have to be able to tell the computer when to go short and when to go long and do that with regular consistency. If you are risking 1 tick to make 1 tick, then you'll need to bat over 50% winners to make money after commissions. If you risk 2 ticks to make 1 tick, you'll need to even more than 50% of the time. The biggest hurdle I think you'll face is your winning % b/c in a scenario as you've described, it needs to be high. Now the other side of the coin is to create a more favorable risk/reward setup. Risk 2 ticks to make 4 ticks. Now the numbers are in your favor and your winning % can decrease a bit. Stretch that out more and more and you'll see what I mean. Of course, the larger your profit targets, the less likely they'll be easily achieved when compared to a profit of 1-2 ticks. Personally, I'm looking to risk 1 to make 2 on my trades. If I risk $1, I'm looking to make at least $2 on it if I am right. If I'm wrong, I can take 2 losing trades and then 1 winner to get back to break-even. If you risk $2 to make $1 and you lose 2 times in a row, now you need 4 back-to-back winners to break-even. Good luck and keep us posted.

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Sorry, I misunderstood - I thought you wanted a broker that had access to stoxx and dax, didn't realize you also wanted an offshore broker as well.

If you want to trade the FDAX or STOXX, Open ECry has a nice platform that includes charts and data for free. I was a previous T4 user myself actually and since moving to OEC, I am saving the $500/mo platform fee. Haven't looked back.

9-28-09: +$343.12 Not the best day, but good ole soybeans gave me a quick and easy pop on the open to trade. Also, me and the 6E are having some issues currently so I'm putting that one on hold till further notice. Going to focus on the ZN during that time and trade more contracts if need be to 'make up' any potential profits. Oh yeah, bought oil and NQ. BLEW PAST my profit target today. One of those days where holding would have been prudent. As I've said previously, probably the hardest part of trading for me - 'leaving $ on the table'. Oh well, it is what it is for now. Back at it tomorrow. Done by 10:30am EST.

:rofl: Good stuff. Thales - you are wrong! lol

Yeah, time sure does fly by BR. Glad that you continued posting here along w/ a few new people.

I traded 3 days last week and blotters are attached: 9/22/09: +$134.38 9/24/09: +$109.36 9/25/09: +$651.25 End of week: +$894.99 Blotters attached to this message. One thing you'll note going forward is that my blotters may be larger than previously as I take a few more trades and look to trade a market or two that I was not using previously (mainly grains). I'll take it for 3 days of trading. I hope to get back on a regular, 5 day work week but sometimes things can get in the way.

Alright, let's see if we can get this thread moving along again daily. For those that are new to the thread, let me do a little recap... 1) I started the thread 3/2009 as a way to get myself better focused and doing the job. 2) For my purposes here, I am using a smaller account that I trade to demonstrate the good and bad w/ trading a smaller account in leveraged products. 3) Here's a few questions that were asked about what I am displaying here. 4) Here's an update done on 4/12 talking about my results. 5) May 1st update. 6) Discussion of the 3 cycles as I see that you can trade in a day. 7) About page 77 or so is where I take a breather from posting daily and enjoy the summer here. Plan going forward: 1) Try to start posting daily blotters (like before). 2) Use this thread as a motivational technique to keep my eyes on the prize and get the job done. Trading plan: 1) Focus on 'cycle 1' as I discussed in a previous thread that is linked above. Basically, trade in the AM when I know things usually are moving. 2) Focus on markets that I know and understand what movements to expect and how to treat them. 3) Generate consistent profits w/ minimal losses. That's the plan, we'll see how it goes. Welcome back and welcome to those that are new to me posting here!

Including yourself??? As I've learned around here, if you want to get something going, you better give it some reason to get going yourself. So when YOU start posting, maybe others will follow.

I asked b/c you mentioned this is more or less a trend system and we know the market does not trend nearly as much as it chops; but, if moves are going to occur that are trending in nature, most occur in the AM and possibly continue into the PM. Maybe you'll find that focusing on the first couple hours and then hitting the off button could yield better results.

Have trades been broken out into time of day? Would be interesting to compare results of just trading AM, PM and/or AM/PM only.

Take care Thales. I learned over the summer that the forum isn't going anywhere, so we'll see you when time and life permits.

As stated, if you use a STOP LIMIT, then it's very possible to get blown by. If you use a STOP MARKET, that will never happen. Your order WILL be executed; however it is a market order so you could face some slippage. On the ES, it will be minimal during most conditions. Steps to trading on your platform: 1) Learn what order types exist and how to use them and how they operate 2) Practice 3) Practice 4) Practice See what order types your broker supports and where those orders are held (server side or locally on your computer). Then practice and play on the demo. I'd suggest Open ECry.

It would seem that hiding orders is an important part of the game if you are trading size. Here's what OEC offers: icebergs And that's what is tucked into a retail platform. I can just imagine what algo's the big boys are using. Anyways, if you can detect those hidden large orders, that should provide an edge to your trading. I'm not nearly as programming gifted as some of you here, so I wish those that chase this down luck and best wishes. It would be nice to see someone crack the 'code' and give it to the forum, but I won't hold my breath.

He did supply a theory that could work if you had the algo to do it I suppose. Just a theory. Sorry, that's the page I was at apparently. Typed that up late at night. As for his entries/exits, they are good and verified by Covestor. I get his alerts when new trades are placed and the trades are pretty good. I've never done much w/ the low priced stock arena, but it's very interesting to read about how these smaller issues can easily get manipulated and how to trade them. Point is that depending on the stock the manipulation could be very blatant such as the recent one tim discusses or maybe there's something to that arb theory presented earlier. That is a theory and for me, that's not much to stand on. On the other hand, documented manipulation that is then halted by the SEC is an interesting read of something that actually did occur.