Trading in a group

This is a discussion on Trading in a group within the Commodities & Money Markets forums, part of the Markets category; I found crude fit my style more than index. With index, move is usually short with a long of pullback. ...

Reply
 
LinkBack Thread Tools Search this Thread
Old Mar 14, 2011, 1:38pm   #9
 
3 Posts
Joined Mar 2011
Re: Trading in a group

I found crude fit my style more than index. With index, move is usually short with a long of pullback. If I loss two trades in a row, it is very hard to recoup the losses by the end of the day. However, if I loss 2 trades in a row in crude, I can still be green with 2 good trades.

I see above 6 good setups for 5m crude on US RTH
traderwu is offline   Reply With Quote
Old Mar 14, 2011, 2:18pm   #10
Joined Mar 2011
Re: Trading in a group

APA,

Try the following...
One thing I have noticed is that many times, people are right on with their analysis but over manage the trade meaning they get out of good trades too early and stay in bad ones and take a full stop out on it. If you can, try sim trading for 1 week with a 1 lot and use a stop of 15-25 ticks on the YM and have a profit of 15-25 ticks... If you would rather trade the ES, use a 12 tick stop and 12 tick limit (just keep the risk reward 1/1 for this exerciese). Whenever you enter a trade, set those parameters and sit back and see which one gets hit. This will help to see how your analysis is doing. If you aren't making money then it tells you to work more on your analysis, entry and exit. If you are making money with this then it tells you that you were probably overmanaging the trades meaning getting out when you get up 3 ticks but letting a bad trade go against you and taking a big loss which wiped out several gains.
Here is the plan that I think would be best:
1.) Follow this strategy for 2 weeks in a sim account and if profitable after 2 weeks, go to the live account for 2 weeks.
2.) If profitable with the 1 lot in the live account after two weeks, increase to a 2 lot.
3.) If you are not profitable, do not go past the 1 lot. Also, keep trades to 3-4 trades made per day on #1, 2 and 3).

The thing I have found is that most people have good analysis but lose money due to money management. They get out of winning trades too soon and stick with losing trades. That is why it is helpful to see how the overall analysis is by not managing the trade. I have attacheda spreadsheet that you can use to keep track of them.
Attached Files
File Type: xls Copy of Tradereview-SFO----.xls (59.0 KB, 259 views)
MorganatDTI is offline Coach/Trainer   Reply With Quote
Old Apr 26, 2011, 9:25pm   #11
 
8 Posts
Joined Nov 2010
Re: Trading in a group

Trading in a good group definitely does make a difference. The big bank traders have a team behind them, which definitely gives them an advantage. Good luck to everyone!
Trader_Matt is offline   Reply With Quote
Old May 18, 2011, 12:25pm   #12
 
Bint_Crusher's Avatar
Joined May 2009
Re: Trading in a group

I trade with a group some of the time, we have all been taught the same methodology and have a firm set of rules. It helps because we can bounce ideas off each other, we can adjust our position sizes according to our risk tolerance and can tweak our entry and exit positions.
The answer to the original question should be "get yourself on to a virtual trade floor for a few hours a week and then watch and learn from them for a year or more until you understand what they are doing and why. Check the post before this one by Wankingp, at least he is using a demo, if this were live he would have been destroyed.
Bint_Crusher is offline   Reply With Quote
Old Jun 8, 2011, 12:27pm   #13
Joined Nov 2010
Re: Trading in a group

Quote:
Originally Posted by apa79 View Post
Hello All ,
I am interested to do daytrading and am looking for some sort of group to start with .I am relatively inexperienced and would like to learn some from the pros .Is there any one who is willing to show some tricks or maybe take me along on the same trades that you are taking .I have my account opened already and but faced early losses and now dont want to lose the rest of my account as well.
Thanks .
To start you can begin reading books and get basic of the market and how to place order. Then you can subscribe to signal provider and use their service to place your trade.
Later on you might be able to design for yourself a good trading system
marketvistaa.com publish on its site free trading signal for commoditis, forex , indices, and metal.
or you can join their beton4x facebook, or www.groups.yahoo.com/group/beton4x
you will be receiving free signal. or check this forum. for trading signal from marketvistaa..
Hope these help
marketvistaa is offline Trading system vendor   Reply With Quote
Old Jun 8, 2011, 12:55pm   #14
 
theroguetrader's Avatar
Joined Jan 2008
Re: Trading in a group

imagine everyone on this site working in a room together !!
theroguetrader is offline   Reply With Quote
Old Jun 8, 2011, 3:16pm   #15
Joined Nov 2010
Re: Trading in a group

Quote:
Originally Posted by theroguetrader View Post
imagine everyone on this site working in a room together !!
Good Idea. Perhaps, T2W can create a chat room
marketvistaa is offline Trading system vendor   Reply With Quote
Old Jun 8, 2011, 6:48pm   #16
 
Bint_Crusher's Avatar
Joined May 2009
Re: Trading in a group

You mean a T2W suicide pact.?
Bint_Crusher is offline   Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Similar Threads
Thread Thread Starter Forum Replies Last Post
trading group newcastle sparkie First Steps 8 Apr 19, 2016 11:09am
Watts Trading Group cranky-dan Trading Systems 33 Apr 30, 2013 3:28am
Tower Trading Group UK2004 Home Trader 13 Jul 2, 2010 9:57am

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)