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Kareem's Trading video Journal

  • #21
  • Sep 3, 2013 4:05pm Sep 3, 2013 4:05pm
NQ Day trades September 3, 2013

Inserted Video


Kareem
Trade Garlic
  • #22
  • Mar 22, 2019 7:41pm Mar 22, 2019 7:41pm
It has been a while, but am still here and trading. I have few very old PMs and very sorry for the very late reply. But here is how I trade now. I will try to post regularly again.
Inserted Video
Trade Garlic
  • #23
  • Mar 25, 2019 3:56pm Mar 25, 2019 3:56pm
Below is a YT video of today's trades:
Inserted Video
Trade Garlic
  • #24
  • Mar 25, 2019 4:37pm Mar 25, 2019 4:37pm
cool, is that interactive brokers platform?
  • #25
  • Mar 25, 2019 5:02pm Mar 25, 2019 5:02pm
Quoting hilmy83
cool, is that interactive brokers platform?
Hi,
Yes. I changed over from, Oanda, which I had used for a long time as well. I recently moved over to IB in order to trade the ES and other instruments.
I like Oanda since I can enter quickly ( most of the time). IB is the absolute best with fills.
Thanks,
K
Trade Garlic
  • #26
  • Mar 25, 2019 5:04pm Mar 25, 2019 5:04pm
Quoting kareem40
{quote} Hi, Yes. I changed over from, Oanda, which I had used for a long time as well. I recently moved over to IB in order to trade the ES and other instruments. I like Oanda since I can enter quickly ( most of the time). IB is the absolute best with fills. Thanks, K
how do you like the platform? is it easy to use? can you trade off the charts? (moving orders, stops/targets around?)

it's not bad comssision about $4.06 RT
  • #27
  • Mar 25, 2019 7:01pm Mar 25, 2019 7:01pm
Quoting hilmy83
{quote} how do you like the platform? is it easy to use? can you trade off the charts? (moving orders, stops/targets around?) it's not bad comssision about $4.06 RT
IBKR's TWS platform is the motherload of all platforms in terms of complexity, advanced features, direct market access, portfolio analytics, what-ifs etc. Majority are $1M+ account holders so when you call their customer service they will literally spit on you for asking noob questions on your tiny account lol. They are quite the impatient bunch!

The learning curve is 10 times than of any complex platform out there. It will allow you to trade pretty much anything under the sun.
It's not at all suitable for your style of trading until you reach to 200K goal imo. It works with Sierra and 100s of 3rd party software vendor. I am trading with them for over a decade now (mostly stocks and briefly forex).
Staying in my lane...
  • #28
  • Mar 25, 2019 7:57pm Mar 25, 2019 7:57pm
Hi
VEEFX is right ( and thanks for the feedback). It is a learning curve but I trade simple layout. Just a HMA, trend lines and a DOM. I like IB best because, if you do trade with simple set ups, its very fast and cheap( the best fills anywhere). Also, they are only $10/month for the data. Customer service is horrible, and yes they are rude to you when you call. So I end up watching YT for "how to." You can trade off the charts and with the DOM ( which allows brackets, etc...)
I think they are worth the trouble for the low cost and great fills. Also, they do have the best spreads for Forex. I mean sometimes its ZERO, most times its .5 PIPS on the majors, but you do pay commissions. Last but not least they are very, very conservatives, which means my money is safe. Try them out, but remember you need 10K to open an account and you need to do your homework.
BTW, VEEFX when I traded stocks, I like the fact that they always had shorts to borrow.
Good Trading,
K
Trade Garlic
  • #29
  • Mar 25, 2019 10:09pm Mar 25, 2019 10:09pm
Quoting kareem40
Hi VEEFX is right ( and thanks for the feedback). It is a learning curve but I trade simple layout. Just a HMA, trend lines and a DOM. I like IB best because, if you do trade with simple set ups, its very fast and cheap( the best fills anywhere). Also, they are only $10/month for the data. Customer service is horrible, and yes they are rude to you when you call. So I end up watching YT for "how to." You can trade off the charts and with the DOM ( which allows brackets, etc...) I think they are worth the trouble for the low cost and great fills....
Yep Kareem. Low spreads and fund safety was the main reason why I moved to IB back in 2007-08 and never left. I don't trade FX anymore and felt their day margin on NQ were not as competitive compared to others. Now I am reconsidering if I should move my capital out of IB. Sierra can connect to IB so definitely an option. What is your net Round trip costs per contract for NQ and ES (excluding $10/month for data.... I pay $5/month for CQG on CME index only package) ? Not sure if Sierra will remain free with IB. I could trade the DOM and watch Sierra on the sidelines with AMP as an alternate option.
Staying in my lane...
  • #30
  • Mar 26, 2019 7:41am Mar 26, 2019 7:41am
Quoting VEEFX
{quote} Yep Kareem. Low spreads and fund safety was the main reason why I moved to IB back in 2007-08 and never left. I don't trade FX anymore and felt their day margin on NQ were not as competitive compared to others. Now I am reconsidering if I should move my capital out of IB. Sierra can connect to IB so definitely an option. What is your net Round trip costs per contract for NQ and ES (excluding $10/month for data.... I pay $5/month for CQG on CME index only package) ? Not sure if Sierra will remain free with IB. I could trade the DOM and watch...
this talk about fund safety got me thinking. Unless the broker speculate themselves, there wouldn't be a risk of going insolvent right?

Think about those big brokers that went belly up; refco, mf global, some forex brokers lol; they all went broke because they were either speculating themselves (or taking other side of hte market everytime) or corruption.

If a broker simply clears your trades; then their job is to just get as many clients as possible and cash in on the commissions; period.

Not to say they don't trade against you sometimes (nothing wrong with that, they're just a counter party to your trade like anybody else would be). I mean it makes financial sense to trade against the small clients. But if I was a broker, I wouldn't trade against my A book customers(+250k account guys or those guys who grew their accounts over time).
  • #31
  • Mar 26, 2019 8:10am Mar 26, 2019 8:10am
Quoting hilmy83
{quote} this talk about fund safety got me thinking. Unless the broker speculate themselves, there wouldn't be a risk of going insolvent right? Think about those big brokers that went belly up; refco, mf global, some forex brokers lol; they all went broke because they were either speculating themselves (or taking other side of hte market everytime) or corruption. If a broker simply clears your trades; then their job is to just get as many clients as possible and cash in on the commissions; period. Not to say they don't trade against you sometimes...
That's not the complete picture. Most brokers belly up because of allowing their customers to trade on margin and when a CHF style event occurs, customers go negative balance, can't pay back and brokers take a hit or belly up. Most do not have sophisticated "overall portfolio" risk based margin modelling capabilities. IB does, By this, I mean they run what-if scenarios on your entire portfolio in real time before you are allowed to open a new trade on margin instead of allowing you to over-exposure your entire account to NQ fluctuations. Then there are rogue individuals within the brokerage, rogue traders, fat finger traders etc etc. Broker's risk is HUGE in any industry imo as there is no protection offered by SPIC against futures trading account (if I am not mistaken). It is SAFER to trade futures from a universal account that allows you to trade stocks, options, futures etc than trader solely with a futures-only brokerage account. Completely different business model.
Staying in my lane...
  • #32
  • Mar 26, 2019 10:35am Mar 26, 2019 10:35am
Quoting VEEFX
{quote} Yep Kareem. Low spreads and fund safety was the main reason why I moved to IB back in 2007-08 and never left. I don't trade FX anymore and felt their day margin on NQ were not as competitive compared to others. Now I am reconsidering if I should move my capital out of IB. Sierra can connect to IB so definitely an option. What is your net Round trip costs per contract for NQ and ES (excluding $10/month for data.... I pay $5/month for CQG on CME index only package) ? Not sure if Sierra will remain free with IB. I could trade the DOM and watch...
Hi VEEFX and hilmy83
I still think for a small retail trader ( 25-250K), your best option is still IB. In the US , your money is safe for all stocks, Futures and Stocks, but if a broker does F up it may take a year to get all your money back, so no trading. I had friends that went thru that with refco. I think, most brokers clear thru the big market makers, but not IB. I could be wrong, but I remember that commissions was their only source of income. They always look for the best exchange/pricing. IB does have higher margin, but I trade 1-2 lots most of the time, so no need for the higher margin that AMP offers. I also have an account with AMP ( $5 per month data as well)and kept it to get tick data for Ninja trader. But those were the days when I looking for the Holy Grail and the ultimate set up. I may close AMP soon. Instead of Sierra, you can get Bracket Trader. It's free ( limited) or $100/year full. It's good, but you still have to go back and forth between two platforms and you may not have the full picture. Sometimes the "speed" of the down/up ticks ( combined with the news release) can give key clues to be in/out. My new trading is about speed and simplicity. Also, I still need to keep my day job, since $200/day will not send my boys to college
Am trading for the day, will post my trade soon.
K
Trade Garlic
  • #33
  • Mar 26, 2019 10:41am Mar 26, 2019 10:41am
Quoting kareem40
{quote} Hi VEEFX and hilmy83 I still think for a small retail trader ( 25-250K), your best option is still IB. In the US , your money is safe for all stocks, Futures and Stocks, but if a broker does F up it may take a year to get all your money back, so no trading. I had friends that went thru that with refco. I think, most brokers clear thru the big market makers, but not IB. I could be wrong, but I remember that commissions was their only source of income. They always look for the best exchange/pricing. IB does have higher margin, but I trade...
is there a cloud platform that works with IB with decent capabilities? i'm looking over their choices, all i see are stand alone installers
  • #34
  • Mar 26, 2019 10:45am Mar 26, 2019 10:45am
Quoting hilmy83
{quote} is there a cloud platform that works with IB with decent capabilities? i'm looking over their choices, all i see are stand alone installers
They have cloud, mobile and some 200+ software vendor integrations. Frankly, I find their mobile app more easier to use than TWS lol I am contemplating staying with IB as I can also trade IRA as a cash account without any margins or use of custodian.
Staying in my lane...
  • #35
  • Mar 26, 2019 10:48am Mar 26, 2019 10:48am
Quoting hilmy83
{quote} is there a cloud platform that works with IB with decent capabilities? i'm looking over their choices, all i see are stand alone installers
Tradovate has a cloud platform, although I'm not sure if it works with IB. Might be worth looking into.
  • #36
  • Mar 26, 2019 10:49am Mar 26, 2019 10:49am
Quoting lolpie
{quote} Tradovate has a cloud platform, although I'm not sure if it works with IB. Might be worth looking into.
It was too buggy with limited features when I evaluated their demo last september. It was missing simple things like a tick chart lol
Staying in my lane...
  • #37
  • Mar 26, 2019 11:06am Mar 26, 2019 11:06am
Quoting VEEFX
{quote} They have cloud, mobile and some 200+ software vendor integrations. Frankly, I find their mobile app more easier to use than TWS lol I am contemplating staying with IB as I can also trade IRA as a cash account without any margins or use of custodian.
$5783 day margin per contract for NQ..damn...

they really do tailor to the big guys..i'm just a little cockroach trying to scrape a living..
  • #38
  • Mar 26, 2019 11:33am Mar 26, 2019 11:33am
Quoting hilmy83
{quote} $5783 day margin per contract for NQ..damn... they really do tailor to the big guys..i'm just a little cockroach trying to scrape a living..
It's about the same for ThinkOrSwim also. just one or two contract and using trade frequency to "lever up" is plenty to make a decent travel budget and/or pay off debt. Frankly, I am seriously considering trading agresively from IRA, make decent gains and then withdraw in lump sum to pay off my daughter's student loans. $1000-$1500 per day is possible with just 2 or 3 contracts imo

EDIT: Sorry to clutter your journal Kareem. I will delete my posts if you like
Staying in my lane...
  • #39
  • Mar 26, 2019 12:37pm Mar 26, 2019 12:37pm
Hi
Please feel free to chat away. This is all good information. I like to keep a journal to help my trading and stay in touch.
IB does work with many different platforms, but again a long learning curve. Best I found are Bracket and Ninja. As for margins, they used have a 50% ( of the $5783) for daytrading, but they reserve the right to take it any time Volatility is high. Not sure if that changed. To you can trade Forex with a 20K lot, margins are good there.

BTW, I like their Mobile App as well.
Trade Garlic
  • #40
  • Mar 26, 2019 12:37pm Mar 26, 2019 12:37pm
March 26, 2019
Inserted Video


Kareem
Trade Garlic
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