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Trading the e mini nasdaq

  • #561
  • Feb 21, 2017 5:51pm Feb 21, 2017 5:51pm
Great thread love the nq and I will be following along and hoping to contribute!!!
  • #562
  • Feb 22, 2017 3:48am Feb 22, 2017 3:48am
Quoting jtrade
{quote} Wrong, td, VERY impressive : well done ! Keep it up and you'll be at a 10 lot sooner than me
Thanks!

Didn't realize those are good numbers.

Still, pace seems a bit slow, but it's all about accumulation. Getting my psychology over that, that trading is not one trade and make gazillion out of it, but slow grind, grabbing. It is a big thing and I have to remind myself every day about this. The day, when one get's more out of trading than from job is a big thing.

While I seem to want some extrasecurity financial layers, I have thought that when I make roughly multiple times out of trading vs my work net, I am able to trust solely on trading income. Before that I am going to keep my work and trade as hobby.

Having realized that making tens of millions in a year out of trading is unbelievable hard. There comes things as liquidity, fills, unexpected happenings and such. What are your take on the matter. If someone wants to trade 100 lot's of NQ it might move market a bit (we are talking really small stops in this kind of trading) and eventhough, you'd need to make 100 lots (5dollars) * 30 tick a day * 20 days * let's say 10 months (holidays, and wednesdays) and that would be = 3 mil.
Are there even retail brokers that allow 100 lots trades?

I am not aiming there, but just came to mind. I have huge appreciation for traders who have made it as individuals. Do you know any individuals that have been there and done that. Ed Sekoya is one, and from the rest of them I have read from Market Wizard books.
  • #563
  • Feb 22, 2017 4:00am Feb 22, 2017 4:00am
Quoting tdforex
{quote} Thanks! Didn't realize those are good numbers. Still, pace seems a bit slow, but it's all about accumulation. Getting my psychology over that, that trading is not one trade and make gazillion out of it, but slow grind, grabbing....... What are your take on the matter. .

TD, don't forget we are trading the 'emini' version. There are brokers out there, who will fill much larger positions, but you would have to have a 'pro' account with them for that.

Don't forget that this method is also fractal, so if you applied it to a stock market in general on a larger timescale, you could also buy/sell individual stocks/shares through leverage to increase exposure exponentially...

*Edit* - you said that you trade the YM yesterday as a preference, Emini contract is $5, Standard DJIA contract is $10, Big Dow is $25 a contract...
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
  • #564
  • Feb 22, 2017 4:16am Feb 22, 2017 4:16am
Quoting The Cableguy
{quote} TD, don't forget we are trading the 'emini' version. There are brokers out there, who will fill much larger positions, but you would have to have a 'pro' account with them for that. Don't forget that this method is also fractal, so if you applied it to a stock market in general on a larger timescale, you could also buy/sell individual stocks/shares through leverage to increase exposure exponentially... *Edit* - you said that you trade the YM yesterday as a preference, Emini contract is $5, Standard DJIA contract is $10, Big Dow is $25 a...
Yes, could trade different stocks, but complexity increases exponentially. I'd like to stick to one product or at max 2 products. Also, different timeframes do make challenges because of stop and target sizes and I really don't hold position for several hours or overnight. I also realize, that if somenone wants to go really really big that might be needed, but it's different trading style in psychological and technical sense.

Yes, I trade YM and it's $5, standard DJIA or Big Dow could be a possible at some point or maybe never, let's see One have to adjust volumes and rangebars to make those match YM however.
  • #565
  • Feb 22, 2017 4:35am Feb 22, 2017 4:35am
Quoting tdforex
Overposting undertrading over here too. I can speak only from my own experience, but I have gone through lots' of different charts and also products. The thing has been, almost all the best trades are visible in minute, range, tick, volume bars regardless of setting (range 14 and range 20 and vol 233 and 625). Point is, how many setups are you going to get and how big the stops are. For beginner and intermediate (why not real pros) it's however best to just stick to one or two setups and one max two charts (the one that pleases your eye and you...
In line with trading first in SIM, what broker/platform would you recommend? I tried demo trading on NinjaTrader, but for some reason the price action there is slow vs. Div's Sierra charts shown on the videos.
  • #566
  • Feb 22, 2017 4:47am Feb 22, 2017 4:47am
Quoting DavidApol
{quote} In line with trading first in SIM, what broker/platform would you recommend? I tried demo trading on NinjaTrader, but for some reason the price action there is slow vs. Div's Sierra charts shown on the videos.
I recommend SierraChart. I use Ninja and their brokerage so don't bother to change. But if starting anew I would use Sierra definitely. Their replay is superb!
  • #567
  • Feb 22, 2017 5:21am Feb 22, 2017 5:21am
Quoting tdforex
{quote} I recommend SierraChart. I use Ninja and their brokerage so don't bother to change. But if starting anew I would use Sierra definitely. Their replay is superb!
Hi TD,

My only dilemma with SierraChart is their limited free trial. But thanks a lot TD!

David
  • #568
  • Feb 22, 2017 6:20am Feb 22, 2017 6:20am
Quoting tdforex
...and that would be = 3 mil. .
The first question is : do you really want to make $3m / year ? I mean, great idea etc, but is it worth it ? And if you do via trading, you need to work towards instruments with much larger liquidity, SP500 eminis or bonds / large cap stock options / EURUSD cash fx, etc.

Having once co-founded & run a successful small business, for me there is one serious negative issue with trading (which many seem to think is a positive) : there is no product or service, only money. Very limited human interaction, product satisfaction, customer service, business travel, meeting new people etc... other than via forums like this, which frankly is NOT the same, as most of us have never and will never actually meet. Nothing wrong with money in & of itself, of course, but there is something potentially soul-destroying about its singular pursuit, which cannot compare imho with building and eventually selling a small biz.

Look at our mutual friend, 60minuteman (now gone Commercial https://www.forexfactory.com/showthread.php?t=555261 ) : trading income is his third income stream, for which he has very modest goals : he just targets an average of $100/ day, which he think is quite enough to cover his daily expenses in Thailand, where he lives about half the year. Simple method, low stress targets, sensible.

My goal with the NQ is to average 10 ticks / day trading a 10 lot = $500/day, 10 months year. Not there yet (remember to average that amount, your typical winning day may need to be around 30+ ticks).

And remember :

Inserted Video
  • #569
  • Feb 22, 2017 6:43am Feb 22, 2017 6:43am
This is very interesting discussion and will get back later.
  • #570
  • Feb 22, 2017 7:30am Feb 22, 2017 7:30am
I would love to learn enough to earn a living trading but the problem I have is hours available to trade and learn, working 55 hours per week and having 3 daughters and 2 grand children puts a strain on time, but my long term goal is to keep learning and hopefully some day have a decision to make on whether to quit my job or not!
  • #571
  • Feb 22, 2017 8:28am Feb 22, 2017 8:28am
slugar - check out the 60minuteman link I gave above and learn his method on Daily or Weekly charts (you'll have to join his group, which used to be just $100/pa for which you get a good forum and an active, private Facebook group).

Slow & steady, trade SIM first, then microlots... build a retirement fund.
  • #572
  • Feb 22, 2017 9:50am Feb 22, 2017 9:50am
For me JT if I make 20 ticks a day or more in my 1 hour of trading using 3 contracts that's 300+ a day and that allows me to live off it as steady income if I need more I up contracts to 4 or 5
  • #573
  • Feb 22, 2017 9:53am Feb 22, 2017 9:53am
Thanks J. I will check it out, from what I've looked at doesn't he trade forex and base his highs and lows off of different sessions, I really like the nq and not sure if this would apply and I really like Harold's method
  • #574
  • Feb 22, 2017 10:13am Feb 22, 2017 10:13am
Quoting DavidApol
{quote} Hi TD, My only dilemma with SierraChart is their limited free trial. But thanks a lot TD! David
Honestly, if you can't afford or see the value in $20/month for Sierra, you shouldn't be trading, let alone futures. Cheap platform in comparison to anything out there, and does just as much if not more. You should have seen what I paid for software in the late 90's...lol.
Treat trading like a business and you will be on your way, potentially. Treat it like a hobby...and well, good luck. Look at all the people on this forum, utilizing free, crappy software, playing for pennies with dreams of making millions. It's not going to happen. Invest in yourself, invest your time wisely, and invest in your business.
Apologize if it seems I'm picking on you, but I've seen a lot of similar comments here of those who need a reality check.
  • #575
  • Feb 22, 2017 10:45am Feb 22, 2017 10:45am
Great points Q in fact Sierra is free threw my broker if I put on 5 trades a month
  • #576
  • Edited Feb 23, 2017 2:38am Feb 22, 2017 11:00am | Edited Feb 23, 2017 2:38am
Quoting Divergence
For me JT if I make 20 ticks a day or more in my 1 hour of trading using 3 contracts that's 300+ a day and that allows me to live off it as steady income if I need more I up contracts to 4 or 5
Well, H, the last couple of weeks I seem to have become very consistent at making just the 10 ... I keep telling myself "You don't need to make lot, to make a lot" !

Attached Image


(missing days I didn't trade, eg. in Switz)
Edit : updated to include today.
Edit2 : Last 2 weeks started at Trade #9, when I stopped futzing around with too many variations.
  • #577
  • Feb 22, 2017 11:05am Feb 22, 2017 11:05am
That's mine and your point whether 10 or 20 ticks a day with correct contract size makes for a handsome income
  • #578
  • Feb 22, 2017 11:09am Feb 22, 2017 11:09am
I was looking for 5344 to get tested from above
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  • #579
  • Feb 22, 2017 11:16am Feb 22, 2017 11:16am
Why current trend was down
  • #580
  • Feb 22, 2017 12:36pm Feb 22, 2017 12:36pm
Quoting Divergence
Great points Q in fact Sierra is free threw my broker if I put on 5 trades a month
Hi Divergence - great thread, great vids. So you use Sierra charts with which broker? and datafeed from Barcharts. Or does the data come also from your broker? thnx.
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