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Plan the Trade

  • #10,961
  • Mar 5, 2019 9:48am Mar 5, 2019 9:48am
Quoting erasmus66
{quote} top work .. took 1st nq trade for 18, missed 123 back into trend .. got 2b at bottom: {image}
good trading ras wasnt paying attention that last one i had order but when the other got filled i canceled
  • #10,962
  • Mar 5, 2019 11:30am Mar 5, 2019 11:30am
can l have long and short positions in difference price level at same time and same contract ? otherwise it is still a wash trade for Futures.
  • #10,963
  • Mar 5, 2019 11:36am Mar 5, 2019 11:36am
Quoting crazyfizikci
can l have long and short positions in difference price level at same time and same contract ? otherwise it is still a wash trade for Futures.
You can if you have enough in acct
  • #10,964
  • Edited 11:59am Mar 5, 2019 11:46am | Edited 11:59am
Quoting Divergence
{quote} You can if you have enough in acct
Thank you but l have just talked to AMP they said that it doesnt matter long and short flatten each other in same account, i can have a separate account and be long in one and short in the other
  • #10,965
  • Mar 5, 2019 12:24pm Mar 5, 2019 12:24pm
I have put on simple bracket buy and sell limits at same time
  • #10,966
  • Mar 5, 2019 12:59pm Mar 5, 2019 12:59pm
Quoting Divergence
I have put on simple bracket buy and sell limits at same time
Not limit order l mean after you buy 1 contract , if you sell 1 contract few mins later it will be flatten each other.
  • #10,967
  • Mar 5, 2019 1:56pm Mar 5, 2019 1:56pm
Quoting crazyfizikci
{quote} Not limit order l mean after you buy 1 contract , if you sell 1 contract few mins later it will be flatten each other.
yes thats correct no hedging with same acct
  • #10,968
  • Mar 5, 2019 5:47pm Mar 5, 2019 5:47pm
Quoting crazyfizikci
can l have long and short positions in difference price level at same time and same contract ? otherwise it is still a wash trade for Futures.
Learn to trade a consistently profitable methodology. There is no reason to do this ever. This was an ability dreamed up by the forex brokers to steal as much as possible as quickly as possible from client accounts. There is a reason US regulators have all but shut down the retail FX market in the US. Was it an overreach? You bet ya'! But it was based upon sketch practices such as allowing clients to "hedge" lol by being both long and short the same pair simultaneously.
  • #10,969
  • Edited Mar 6, 2019 10:59am Mar 5, 2019 8:35pm | Edited Mar 6, 2019 10:59am
Quoting crazyfizikci
{quote} Thank you but l have just talked to AMP they said that it doesnt matter long and short flatten each other in same account, i can have a separate account and be long in one and short in the other
doing long and short in two separate accounts under same legal ownership also constitutes a wash trade and against regulation. They will get you bro even if it is not your "intent" to hedge as every trade is systematically tracked and tagged to catch such behavior at market close.

EDIT: Deleted

Edit1: Deleted my Edit as I am no expert on this topic especially when it comes to Futures. Better to avoid giving any false impression. I just shared my interpretation of what I know thus far in futures (less than 3 months)
Staying in my lane...
  • #10,970
  • Mar 5, 2019 10:55pm Mar 5, 2019 10:55pm
Quoting VEEFX
{quote} doing long and short in two separate accounts under same legal ownership also constitutes a wash trade and against regulation. They will get you bro even if it is not your "intent" to hedge as every trade is systematically tracked and tagged to catch such behavior at market close. EDIT: What I really find it interesting is that this regulations prevents all sorts of price discovery techniques on the order book. Under the umbrella of price manipulation malpractice, they can get your ass on anything if they want to set an example on you to...
I'm confused, are you actually defending spoofing?

when you say "regulation prevents price discovery"..what do you mean?

when you describe putting bids/offers and cancelling, you're saying this helps in price discovery?

I think spoofing becomes a problem when it is used to manipulate supply/demand. I wish a former pit trader can chime in, but in the pits, if you're saying "30 on 2!" (buy 2 cars at price 30), then someone wants to do that trade with you, then you WITHDRAW that offer, it makes you look like a jackass.

it's no different that placing bids at auction or ebay or when buying a house. Some situation won't even allow you to withdraw your bids. When you bid, you have to commit to it for "some time". So think cme doens't go after EVERY spoofing activities, only when it shows up on the radar in forms of large orders or frequency.

At least at cme, you can cancel your bids/offers up to certaiin point.
  • #10,971
  • Edited 11:01am Mar 6, 2019 12:01am | Edited 11:01am
Quoting hilmy83
{quote} I'm confused, are you actually defending spoofing? when you say "regulation prevents price discovery"..what do you mean? when you describe putting bids/offers and cancelling, you're saying this helps in price discovery? I think spoofing becomes a problem when it is used to manipulate supply/demand. I wish a former pit trader can chime in, but in the pits, if you're saying "30 on 2!" (buy 2 cars at price 30), then someone wants to do that trade with you, then you WITHDRAW that offer, it makes you look like a jackass. it's no different that...
f*ck man... i wrote a two page long detailed note and hit the browser refresh button my mistake. I feel terrible. need a break. will return *probably a good thing because I wrote too much lol

EDIT: deleted

Edit1: Deleted my Edit as I am no expert on this topic especially when it comes to Futures. Better to avoid giving any false impression. I just shared my interpretation of what I know thus far in futures (less than 3 months)
Staying in my lane...
  • #10,972
  • Mar 6, 2019 1:07am Mar 6, 2019 1:07am
unless you are a market maker, most traders on the exchange are liquidity takers. meaning they use market orders most of the time.

i suspect that V had a bug in his algo that caused it to close a trade immediately after it opened, labeling it as a wash trade by cme.

in order to play the market maker game, placing and canceling orders in milli seconds, you need to use fast low latency software. Sierra cannot be efficient in this space.
  • #10,973
  • Mar 6, 2019 1:48am Mar 6, 2019 1:48am
Quoting alphadude
unless you are a market maker, most traders on the exchange are liquidity takers. meaning they use market orders most of the time. i suspect that V had a bug in his algo that caused it to close a trade immediately after it opened, labeling it as a wash trade by cme. in order to play the market maker game, placing and canceling orders in milli seconds, you need to use fast low latency software. Sierra cannot be efficient in this space.
It was most definitely a fat finger associated with a rogue attached order which got triggered without my knowledge ending up in a wash trade.(EDIT: I was using TP attached order to close/reverse losing trades if you know what I mean... no market order involved even if it was a tick away from last price)
I have yet to use algo and agree, HFT via retail is not possible. I can barely make a simple algo work in stupid sierra without breaking it 10 times lol
With that said, I can trade manually as fast as any algo. My record with FXCM was scalping over 600 trades in under 2 hours across all jpy pairs.
Staying in my lane...
  • #10,974
  • Mar 6, 2019 4:25am Mar 6, 2019 4:25am
Quoting ddaytrader
{quote} Learn to trade a consistently profitable methodology. There is no reason to do this ever. This was an ability dreamed up by the forex brokers to steal as much as possible as quickly as possible from client accounts. There is a reason US regulators have all but shut down the retail FX market in the US. Was it an overreach? You bet ya'! But it was based upon sketch practices such as allowing clients to "hedge" lol by being both long and short the same pair simultaneously.
Thank you for your kindly guidance. Hedging is not my purpose to ask. sometime l may have opposite positions so l asked it to know it is possible or not.
  • #10,975
  • Mar 6, 2019 9:00am Mar 6, 2019 9:00am
Two trades, both +6.25 points or 25 ticks for you "ticklers" lol ... Done for the day, I am

Attached Image (click to enlarge)
Click to Enlarge Name: 3-6-2019 NQ.JPG Size: 142 KB
  • #10,976
  • Mar 6, 2019 9:23am Mar 6, 2019 9:23am
nice going dd .can you explain the setup
  • #10,977
  • Mar 6, 2019 9:36am Mar 6, 2019 9:36am
Quoting Divergence
nice going dd .can you explain the setup

Here is a pic showing the last swing low from yesterday after noon regular trading hours. I was just playing the reversals off of that level. The first was a tick for tick double bottom and the second was a tradition Trader Vic 2B stop probe just below the low. There was actually a third bite of the apple that also would have been +6.25, but I am imposing a $250/contract profit target and stop on myself.

Attached Image (click to enlarge)
Click to Enlarge Name: Trader Vic Test of Prior Swing Low.JPG Size: 252 KB
  • #10,978
  • Mar 6, 2019 9:38am Mar 6, 2019 9:38am
nice
  • #10,979
  • Mar 6, 2019 10:37am Mar 6, 2019 10:37am
Quoting ddaytrader
{quote} Here is a pic showing the last swing low from yesterday after noon regular trading hours. I was just playing the reversals off of that level. The first was a tick for tick double bottom and the second was a tradition Trader Vic 2B stop probe just below the low. There was actually a third bite of the apple that also would have been +6.25, but I am imposing a $250/contract profit target and stop on myself. {image}
Thank you for sharing the chart. What is the speed of the candles?
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #10,980
  • Mar 6, 2019 10:54am Mar 6, 2019 10:54am
..looks like 10s.
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