The Race

[amswak 10]

Yeah....I didn't have much luck with FXCM due to the spreads. I just finished my application for Global Futures cleared through RCH since they have no minimum - perfect for this kind of sandbox account. As soon as I get it funded I will join The Race!

 

Just a quick intro (even though I am not officially in the game yet):

 

I am still what I would consider a novice trader. I have been trading stocks for a few years now (and not very well, lol...but that is just part of learning). I work a day job, so I have to limit trading to early mornings and evenings. Thanks to my background I am skilled at things like coding strategies, but I am still learning the discipline and money management side of trading...I have found that to be the hardest part of being an active trader.

 

I have been wanting to move over to futures for a while (mainly so I can get around the stupid $25k minimum pattern day trading rule imposed on stocks) and have been practicing in the futures sim account on TradeStation. This contest seems like as good a time as any to fund a real-money trading account. I figure I will probably bust early, but I hope to learn a few good lessons from some of the more experienced traders on here in the process!

 

So, with that, good luck to everyone and I look forward to being a part of this!

 

-Hunter

[forrestang 10]

Hi All,

 

Quick question: My broker minimums will prevent me from entering this. I would like to fund a new account with around $1k. Given this constraint, who would you use for forex and who would you use for futures?

 

Good luck!

 

Hunter

 

I've mentioned it several times in other threads, but for FX you should really give MB Broker a look. They charge a commission instead of them making book with a spread. I have been very pleased with the customer service and their execution platform. Whenever I compare spreads with friends on other platforms, mine are lower 95% of the time.

 

Oanda is horrible, trading with them is like donating money to an unworthy cause.

 

For futures I have a few, my main is Mirus through Dorman, and Infinity through Transact. I haven't had any problems with either. I will say I like the interface of the DOM trading through ninja on my Mirus account more than I do the Infinity DOM with TransAct.

[SIUYA 11]

Hi - for those who get headaches from staring at the screen - and for all people who stare at screens all day. An optometrist friend of mine gave some great advice a few years ago, that has helped me and others from eye strain.... and saved some friends from such headaches.

Your eyes are a muscle - get into the habit of exercising them. Every 20minutes or so, look up from the screen and refocus them at something in the distance. look out the window, get up from the desk and refocus. Take your eyes for a quick walk and stretch. Make it part of the trading day.

 

Otherwise, good luck with the race, I dont intra day trade enough/much, but might join in a few weeks when I get back from holidays for a bit of fun. I just thought I would post with the eye advice.

[sicktrader 10]

No problem with Global here, would advise them to anyone.

 

Since yet again I didn't have a trade overnight, it appears that my entire week will boil down to the GDP news at 8:30. With news like this I still have a good chance of doubling for the week, but the same probability of having all my profits wiped out. Time will tell.

[thalestrader 14]

Hi Folks,

 

Two trades yesterday, both on the 6E. The first was a long that was quickly stopped for a -12 tick loss. The second was a short that signaled very soon after the long was stopped (if you look at the time stamps, less than 10 minutes separated the long entry from the short exit), and that short resulted in a +30 tick profit. Afterward, the 6E went into whipsaw mode, as it presented four signals, two long and two short, but none of them triggered.

 

The ES was already long on the 24 hour data when I logged in, and RTH data gapped open higher, and never pulled back enough to signal a fresh long entry.

 

 

Best Wishes,

 

Thales

[sicktrader 10]

Finally, a trade. In long on the Euro at 3323, target is at 3343. Not the big target that I was expecting.

[fxThunder 10]

Had a few times at bat yesterday and ended with essentially a par result.

 

Cheers,

fxT

[bathrobe 10]

It is positive which is always good but I am not pleased.

[sicktrader 10]

Nice to see quite a few positive days amongst us this week. My trade on the GDP was a 20pt +$250 winner. Might have another shot at 9:55, otherwise I am done for the week.

[daedalus 10]

Good trading guys! I'll be joining you next week, 2 contracts on the 6B/NQ/YM, and 1 contract on the E,C,A,S,J.

 

Should be interesting... Haven't traded this new revision live yet and have spent a lot of time on it.

 

Cheers!

[sicktrader 10]

In short on the CAD @ 9889. Target is at 9860. Edit target is at 9854.

[bathrobe 10]

Well I look forward to next week. as things seem to go sometimes now that I have recovered I have other things I must do. I mustered a very small euro trade however.

 

Have a good weekend

[sicktrader 10]

 

Have a good weekend

 

Same here. Out with a 6 point loss on the CAD. Looking forward to next week. Good luck all.

[yeaheah 10]

I'm done for today.

Some little profits.

 

[ADarkerRattlingMe 10]

Count me in for partaking in your shenanigans.

 

Starting balance is $2196.80.

[brownsfan019 17]

You know what I noticed after seeing these statements? All futures brokers statements are terrible. Looks like they are done on a typewriter and look ugly... Why are they so behind the times in creating a decent looking account statement?

 

Sorry... back to your regular scheduled program.

 

[macdfx 10]

You know what I noticed after seeing these statements? All futures brokers statements are terrible. Looks like they are done on a typewriter and look ugly... Why are they so behind the times in creating a decent looking account statement?

 

Sorry... back to your regular scheduled program.

 

 

Perhaps, but as long as they're accurate is all traders should really care about.

 

Have you noticed one other thing about these statements?

 

It gives you an insight into what pikers really pay for commissions....

 

Lowest rate I've seen posted here so far is $4.40 r/t (all-in) for the ES (e-mini S&P). Highest was $7.00 r/t (all-in) for the 6E (Euro).

[brownsfan019 17]

Perhaps, but as long as they're accurate is all traders should really care about.

 

Have you noticed one other thing about these statements?

 

It gives you an insight into what pikers really pay for commissions....

 

Lowest rate I've seen posted here so far is $4.40 r/t (all-in) for the ES (e-mini S&P). Highest was $7.00 r/t (all-in) for the 6E (Euro).

 

I do care about statements that are eye appealing as well. See any decent stock brokerage for an example - accurate AND appealing to the eyes. Yes, it can have both.

 

As for the commissions, should we assume in your professional capacity you are getting much better than 'piker' rates? If you want to take shots at these guys, then I suggest you enter the race so we can see what a pro pays. Otherwise, maybe you could keep your negative remarks to yourself, esp in this thread.

[fxThunder 10]

Looking forward to next week, it should be fun!

 

Cheers,

fxT

[bathrobe 10]

 

It gives you an insight into what pikers really pay for commissions....

 

 

 

I can not speak for anyone else but I am far from what one would refer to as a piker. The rules of the contest make only small accounts eligible along with large commissions unless you are a seat holder with a 3k acct. or you also have a membership and trade several accounts, one of them being a 3k acct. but that would be just strange

 

This is my brothers account which I am trading for him. I said this in the 2010 P/L thread long before the race ever started.

 

I will assume you did not mean anything by it but I do take some offense. Perhaps you should enter

Edited April 30, 2010 by bathrobe

[macdfx 10]

I can not speak for anyone else but I am far from what one would refer to as a piker. The rules of the contest make only small accounts eligible along with large commissions unless you are a seat holder with a 3k acct. or you also have a membership and trade several accounts, one of them being a 3k acct. but that would be just strange

 

This is my brothers account which I am trading for him. I said this in the 2010 P/L thread long before the race ever started.

 

I will assume you did not mean anything by it but I do take some offense. Perhaps you should enter

 

Apparently the term piker has some folks upset. Small account is all I meant. But since words have meanings, guess I'll have to eat crow on this one...

 

 

piker

- 4 dictionary results

pik·er

   /ˈpaɪkər/ Show Spelled[pahy-ker] Show IPA

–nounInformal.

1.

a person who does anything in a contemptibly small or cheap way.

2.

a stingy, tight-fisted person; tightwad.

3.

a person who gambles, speculates, etc., in a small, cautious way.

 

Origin:

1275–1325; ME: petty thief, equiv. to pik(en) to pick1 + -er1; cf. dial. (N England, Scots, Hiberno-E) pike to pick1

 

—Synonyms

2. cheapskate, penny pincher, skinflint.

 

Anyway, my jist of my comment was about the high commissions that participants are paying, not their level of skill or what have you....so back to the race for now.

[sicktrader 10]

Don't think that there is anything small or cautious in trying to turn a few dimes into a mil in 20 weeks. A gamble for sure. The stakes will get higher each week, probably will see many gains or losers in excess of 50k. Right now I would assume that most everyone has a plan and is trying to stick with it. For me, I spent about $24 in commissions this week, and it isn't even a thought with my trading style. Plus, I like their service.

[sicktrader 10]

Brownie,

 

I think I remember reading in a thread where you mentioned a screen capture program. If I am right, can you please mention it again because I really need one. Thanks in advance.

[Dinerotrader 10]

Brownie,

 

I think I remember reading in a thread where you mentioned a screen capture program. If I am right, can you please mention it again because I really need one. Thanks in advance.

 

I'll answer for him. Snagit. I use it everyday.

 

The huge benefit is how much you can automate. I have a shortcut key to save screen shots to file and it automatically numbers the files by date and puts them in a specified folder. I also have a shortcut key to take a screenshot straight to clipboard for pasting in an email. Once you get your shortcuts setup, it is a big timesaver for chart capture management. I also use it to print all my charts at the end of the day for my folder for later review and markup.

Edited April 30, 2010 by Dinerotrader

[brownsfan019 17]

Brownie,

 

I think I remember reading in a thread where you mentioned a screen capture program. If I am right, can you please mention it again because I really need one. Thanks in advance.

 

SnagIt.

 

The best. I use it daily, multiple times per day. Highly recommend.