Joining the CME gang

i noticed a sync issue this morning with sierra.

i had 2 trades in the asian session
1 long
1 short

for some reason, when i opened sierra this morning for the livestream, the long trade didn't register, although it shows up in tradingview.

then i went back and changed the data settings from web API to FIX, then the trades showed up. Then went back to web, and the trades are now registered.

Not sure why that is. This is why I stick to just tradingview cause of the consistency and verify that against broker statements for any errors.

CQG and sierra just do not get along

I'm just waiting to see how sierra web based platform will be like.

well since i can't respond to George's thread..i'll do it here. Hopefully this is the only post on it



You're absolutely right. It is their podcast. I'm just providing which i thought to be constructive criticism because it seems like they have been talking about everything but trading itself in the last 2 podcasts. Like you said, maybe i was crazy to expect discussion on trading itself.

Was I too harsh? I didn't think so. For god sake, we're traders, i thought maybe we can take few jabs here and there and not get offended. I've taken comments and criticisms from people in my thread cause THAT'S WHAT WILL MAKE YOU GROW AS A TRADER.

His thread should really be in the journal section or the trading system section (where strict rules to system should be applied). It definitely doesn't belong in trading discussion because i don't remember being in a discussion with people about a topic where people just agree with each other and criticisms are not allowed. Yea good luck improving in that "yes sir" environment.



This is what i was expecting from the second podcast. I don't deny trading psychology is important, but I would argue it's not 90% of what makes a trader successful. You need a method with clear, measurable edge first and foremost. Without that, no amount of meditation, medication, or self belief or prayers in whatever god you believe in can help you.

Or if George is talking about the market psychology, sure then that's something more relevant to DISCUSS. But that would require a chart or 2 to explain, and we're back to why i was annoyed by this podcast lol

Whatever, at least i know where that thread stands. It needs to be moved, it's definitely not a discussion in the normal definition

the 1st podcast and 2nd podcast are almost the same exact information. Everything but trading itself.

Like i said, i had the wrong impression into what these podcasts were supposed to be.

PS even though my livestreams are silent ..it SPEAKS VOLUMES..

haha get it

i'm gonna do a livestream today dedicated to George and Djamal...it's raw trading psychology at work

i'll minimize all the other posts on this. Need to get back to TRADING

In and out like a killer. Now let me walk you through my trading approach.

My belief is that trading is 80% method with clear measurable edge and 20% trading psychology (NOT THE REVERSE).

To start off, in trading from the strategy standpoint, it's important to know what the fair value of the commodity is.

Fair value represent a frame of reference in your decision making in buying or selling. Like any other business, you need to know what the "retail" price of a widget is before you decide at what cost/price you're willing to pay to make a profit. You don't need to know why people are willing to overpay for houses in a housing boom, or that people are willing to waste money buying beanie babies. You just need to know what that demand price is and take advantage of the price discrepancies between what you can get at wholesale (your entries) vs what you can get people to pay for it (your targets)

Fair value can be arrived at different ways. What I use is VWAP. It's moving average usually applied to daily session. But unlike a simple moving average; vwap is weighted against the bar's volume over the sum of the volume over the whole day. The vwap will fluctuate more on high volume sessions. To me using this indicator makes a lot of sense because it uses 2 primary variables that make a market; price and volume.

Other ways of determining fair value is market profile point of control (again volume based) or using price like Pivot or just analyzing how price high/low swings overlap.

Anyway, once you know what fair value is, your job is then to determine what's the best price to sell/buy into value. This is a fade setup that happens 80% of the time.

Fade setups are high success setups but require a more conservative size in my opinion. Fades can run against you and it's easy to fall into the trap of "adding in".

This leads to my next analysis; knowing the transition point between fade and breakout/trend.

Even though trend/breakout happens 20% of the time, it's important to be able to play this setup correctly because this is THE MONEY MAKER. I tend to put more size in confirmed setups. But at the same time, only playing trend/breakout will be a losing strategy in my opinion since you'll be giving back the gains when market corrects itself to the preferred range environment most of the time.

Hence, it's important to learn BOTH the range and the trend/breakout setups and knowing when that transition happens. Your strategy needs to have both setups in play without contradicting each other to make it a robust trading system.

Playing just 1 type of setup is why I think most traders lose in the long run.

Once you figured out the strategy, the other 20% of the approach is trader psychology. Things like tilting, breaking the rules, ego with size, impatience with account growth are all things that you need to work out as you trade over time. Human beings are not perfect, but with time you should be able to identify your triggers and work to minimize the occurrence.

Last point is, in trading it's important to set daily goals
For me it's a % of the daily range setups in ticks or based on the r:r on the trend/breakout setups. Whatever it is, make sure you adhere to your targets for the day, then STOP trading. The market is not a connected system. It has no memory. Once you get your target for the day, then quit or wait till the next session of the day. If you continue to trade, your expectancy will diminish as the session runs on.

Even with 2-4 contracts, I can have the savings of CME membership about 10 days into the month (averaging about $40-$50 commission). Everything after the leasing price ($300/month) is 50% discounted..

Keeping tabs on the 1st page. With withdrawals along the way, this journal could take 1.5-2 years before i get to my goal.

Nice. Whenever you're ready to step into Livestream trading, let me know.

the FUSION of divergence/reversion trading

trading livestream @ 9am cst

i dedicate this trading livestream to blue and moody ..the comedy duo
https://www.forexfactory.com/showthr...7#post12350757

June

Total commission: -$722.16
Total net PnL: +$15499.20
Total withdrawal: -$2964
Balance:$17611.64