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Plan the Trade

  • #8,081
  • Oct 11, 2018 10:23am Oct 11, 2018 10:23am
Quoting LookinGood
{quote} Meet you at Peter Lugers? lol
That place still open in brooklyn
  • #8,082
  • Oct 11, 2018 10:37am Oct 11, 2018 10:37am
Quoting Divergence
{quote} That place still open in brooklyn
Still open. Haven't been there in a bit. Me and the wife have a thing for Bobby Van's so we go there or do our own thing.
  • #8,083
  • Oct 11, 2018 10:48am Oct 11, 2018 10:48am
Quoting LookinGood
{quote} Still open. Haven't been there in a bit. Me and the wife have a thing for Bobby Van's so we go there or do our own thing.
Ah good old Bobby van park ave right gallagers and Morton's close second
  • #8,084
  • Oct 11, 2018 11:00am Oct 11, 2018 11:00am
Quoting Rmg
Quoting chyldom
Hello guys could I ask you how big account I should have or what was amount that you started with? Also could you recomend any good broker where I can try demo? I was trying to look here but did not find anything. Thanks Infinity futures gives 30 days trial period, 3k minimum deposit/ Amp gives 2 weeks demo and 1k minimum deposit. Given the fact that ,if you know simple candle stick patterns , market structure, SD/SR, and your target is just say 40-50 ticks a day you don't need order flow or any other jargons to play
...
Surely a £1000 account is rather small to trade the NAS with ?

Isn't a £10000 size account more normal ?
every Saint has a past. Every Sinner has a Future
  • #8,085
  • Oct 11, 2018 11:33am Oct 11, 2018 11:33am
Quoting Divergence
well got 40 last night and another 208 today cant trade tomorrow have a procedure done {image}
Got slipped? Is that a normal thing on 5 contracts?
  • #8,086
  • Oct 11, 2018 11:36am Oct 11, 2018 11:36am
Quoting LookinGood
{quote} Got slipped? Is that a normal thing on 5 contracts?
I trade 4 but this was a slip in my favor my target is 25 ticks and I got 27. That never happens in spot fx
  • #8,087
  • Oct 11, 2018 11:54am Oct 11, 2018 11:54am
Spots not bad, it's just not that good either.
  • #8,088
  • Oct 11, 2018 11:55am Oct 11, 2018 11:55am
What a market 400 tick swings lol getting a couple of 25 tick wins is very doable
  • #8,089
  • Oct 11, 2018 11:55am Oct 11, 2018 11:55am
Quoting turnip15
{quote}{quote} Surely a £1000 account is rather small to trade the NAS with ? Isn't a £10000 size account more normal ?
Sure it's small enough to open the account, 500 for margin, 100 ticks before the account blown. 10 k is better to start with I am still a demo warrior, others can help you further.
on a postive roll...
  • #8,090
  • Oct 11, 2018 1:57pm Oct 11, 2018 1:57pm
I wonder how many people made their year these last couple of days.
  • #8,091
  • Oct 11, 2018 4:39pm Oct 11, 2018 4:39pm
Quoting LookinGood
I wonder how many people made their year these last couple of days.
range bound was better today with the circuit breakers in place. With the blue line at NYSE open, it was magic to see the big boys control the moves to close around the exact same price NQ opened. Market Manipulation in the name of price fixing at its best :-
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Staying in my lane...
  • #8,092
  • Oct 11, 2018 7:30pm Oct 11, 2018 7:30pm
WTF... I am working for the wrong company :-(


https://www.faireconomy.com/
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Staying in my lane...
  • #8,093
  • Oct 12, 2018 4:16am Oct 12, 2018 4:16am
Quoting VEEFX
WTF... I am working for the wrong company :-( https://www.faireconomy.com/ {image}
The question is, would you sit in your pants in front of a computer all day arguing, creating content and so on for a work environment like that?

Most would say yes. And that just goes to show what is available if you can't make money trading, but are prepared to spout about it. I think they are hiring at the 'trading made simple' thread. Lol

Not sure I am employable any more
'in less than half an hour he made over 100 ticks'
  • #8,094
  • Oct 12, 2018 4:30am Oct 12, 2018 4:30am
Quoting turnip15
{quote}{quote} Surely a £1000 account is rather small to trade the NAS with ? Isn't a £10000 size account more normal ?
If you only trade 1 contract why would you want all of your balance in the brokers bank? Deposit a few thousand at a time if you’re nervous about draw down, but if you are going to draw down below 50% of 10k I think I’d re-evaluate my strategy.
So many in the Commercial section want to make me rich! :o
  • #8,095
  • Oct 12, 2018 4:44am Oct 12, 2018 4:44am
Quoting FX-Flux
{quote} If you only trade 1 contract why would you want all of your balance in the brokers bank? Deposit a few thousand at a time if you’re nervous about draw down, but if you are going to draw down below 50% of 10k I think I’d re-evaluate my strategy.
Thanks FX-Flux, I appreciate your post. But please bear in mind I have never traded Futures. Hence my post asking for advice from experienced Futures Traders.
every Saint has a past. Every Sinner has a Future
  • #8,096
  • Oct 12, 2018 7:10am Oct 12, 2018 7:10am
Quoting turnip15
{quote} Thanks FX-Flux, I appreciate your post. But please bear in mind I have never traded Futures. Hence my post asking for advice from experienced Futures Traders.
The rule of thumb i keep coming across is $2000 per contract is fine for the vast majority of traders.
  • #8,097
  • Oct 12, 2018 8:20am Oct 12, 2018 8:20am
Quoting bapakjason
{quote} The rule of thumb i keep coming across is $2000 per contract is fine for the vast majority of traders.
This type of thing is a function of what kind of variance you expect your system to provide.

Big variance = Smaller contract count and/or Larger account balances
Small variance = Smaller contract count and/or Smaller account balances.

How many trades do you need to see go wrong before you need to stop and re-evaluate your plan? You're balance should reflect this and margin requirements.
  • #8,098
  • Oct 12, 2018 8:52am Oct 12, 2018 8:52am
Long from 120.50 was good
  • #8,099
  • Oct 12, 2018 9:01am Oct 12, 2018 9:01am
Quoting onejester
{quote} The question is, would you sit in your pants in front of a computer all day arguing, creating content and so on for a work environment like that? Most would say yes. And that just goes to show what is available if you can't make money trading, but are prepared to spout about it. I think they are hiring at the 'trading made simple' thread. Lol Not sure I am employable any more
i know one this for sure... they are making a ton of money off forum posters who spend their time here all day generating churn. look at the skyrise building they are in. They are more than 10M annual revenue company than what I had heard someone mention recently.

I am very employable as my team is 4 times larger than their entire workforce but there is just no desire left in me anymore to work for anyone or anyplace. Thanks to Harold, I will replace my income very soon. Stopped trading live from today until I can meet my daily goals in simulation. Already in 1R loss and 3R profit this morning so struggle is the mind to accept what is in front of me everyday and stick to the plan (which I will lay out this weekend)
Staying in my lane...
  • #8,100
  • Oct 12, 2018 9:20am Oct 12, 2018 9:20am
Quoting VEEFX
{quote} so struggle is the mind to accept what is in front of me everyday and stick to the plan
Well said ... same here !

+17 so far ...
Never give up !!!
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