attempting ES futures

This is a discussion on attempting ES futures within the Trading Journals forums, part of the Reception category; I am also reading your posts although I am doing the demo with only the ES for now. I am ...

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Old Sep 27, 2011, 11:16pm   #65
 
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Re: attempting ES futures

I am also reading your posts although I am doing the demo with only the ES for now. I am looking for much smaller profits (150 a day is super for me), so that's only me having to get 3 points in a day which so far, hasn't been too tough. So far (2 months in) my good trades are occurring about 77% of the time. What are your thoughts about how the "real trading" since it hasn't been as successful as paper, what do you think is the biggest hurdle? Do you notice any differences in the order/fill times? That is my biggest concern right now...I watch for my indicators but use the order book to put in orders and they usually fill within 1-2 seconds...is this the case when you trade live? Like I said, I am looking for small scalps and if it's very choppy, I'll get in and out half a dozen times to get my profit and then out for the day. I know that people may say I am killing myself in commissions, but I'd rather do that then sit and wait for 3 points and watch it drop 5 or more.

On the other side of the coin, have you thought about trading along side with your Skype guy? I don't think there is nothing wrong with making a "little extra" off his calls, especially since he seems to be pretty good at it.
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Old Sep 27, 2011, 11:43pm   #66
 
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Re: attempting ES futures

piggybridges started this thread
Quote:
Originally Posted by mitchell404 View Post
I am also reading your posts although I am doing the demo with only the ES for now. I am looking for much smaller profits (150 a day is super for me), so that's only me having to get 3 points in a day which so far, hasn't been too tough. So far (2 months in) my good trades are occurring about 77% of the time. What are your thoughts about how the "real trading" since it hasn't been as successful as paper, what do you think is the biggest hurdle? Do you notice any differences in the order/fill times? That is my biggest concern right now...I watch for my indicators but use the order book to put in orders and they usually fill within 1-2 seconds...is this the case when you trade live? Like I said, I am looking for small scalps and if it's very choppy, I'll get in and out half a dozen times to get my profit and then out for the day. I know that people may say I am killing myself in commissions, but I'd rather do that then sit and wait for 3 points and watch it drop 5 or more.

On the other side of the coin, have you thought about trading along side with your Skype guy? I don't think there is nothing wrong with making a "little extra" off his calls, especially since he seems to be pretty good at it.
Hey.
I think there's too much made about the transition from demo to live, personally.
My results overall haven't been as good as in demo, but it hasn't been a drastic difference. It's harder to run profits. That's the main thing. I'm quite robotic with stops, so that's not been an issue.
People always talk about fills etc, but again, i'm only trading 1 contract and fills seem to be the same as they were in demo mode.
If you are killing it in demo, using sensible stops and not letting losers run until they 'come good' and are using a good platform where demo mode closely reflects live trading and are doing well, then it's definitely worth a shot in my opinion.

As for following this guy...
Yes, he's 'pretty good' as you say. Well, he's actually pretty amazing from what i've seen. But he doesn't seem willing to reveal much about his method. I'm sure there's some TA involved, because he sometimes mentions 'double tops' and 'wedges' etc (unless he's trying to hoodwink me!!). I'm not sure if there's something else going on to help with his analysis as well, though. He's averaged about 10 ES points per day in the 4 months or so that he's been posting his trades.
And yes, I know I can follow him and make some extra money, and it might seem stupid not too, but i'm not interested in just copying someone and making money. I want to learn the skill rather than just make some fast money.
Also, if i was to follow him and the unthinkable happened and he called loser after loser, it would be more annoying than falling on the sword from my own alalysis.
Not that I particularly care if I lose the 8k this account started with, but you get my point.
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Old Sep 28, 2011, 12:10pm   #67
 
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Re: attempting ES futures

piggybridges started this thread I'm up $235 ish so far today.
I've missed 2 trades that would have given me a lot though, which is quite annoying.
Shame I can't program/code which would stop me missing signals....
Probably not done for the day yet though, so not worth posing a statement yet.
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Old Sep 28, 2011, 1:44pm   #68
 
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Re: attempting ES futures

piggybridges started this thread +$300.08

Better day, although didn't get much follow through on my trades.
Also missed 2 trades that would have been rather good ones.
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Old Sep 29, 2011, 2:50pm   #69
 
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Re: attempting ES futures

piggybridges started this thread -$277.18

Losing day.
Finding it a bit harder recently. although it could be a lot worse!
Might be a losing week though, depending on how tomorrow goes.

I know I've had a few first time posters pop in to the thread, but it really is terribly quiet.

Tomorrow might be my last day of the journal for now.

statement attached.

cheers
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Old Sep 29, 2011, 3:23pm   #70
 
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Re: attempting ES futures

There isn't much to be talking about if you don't write down deeper thoughts.

Would be cool to see why you take the trade you took, post charts etc..

Anything other than just how much you lose or win everyday.

Cheers
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Old Sep 30, 2011, 2:21pm   #71
 
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Re: attempting ES futures

piggybridges started this thread -$214.96

Another losing day, and my first losing week since starting the journal.
Only down a little on the day, but want to do other things whilst the sun's out so calling it a day.

WEEKLY RECAP:
M 222.58
T -334.89
W 300.08
TH -227.18
FRI -214.96
TOTAL = -314.40

RUNNING JOURNAL PNL
WEEK 1 = +162.16
WEEK 2 = +1122.73
WEEK3 = +861.39
WEEK 4 = -314.40

TOTAL PNL SINCE JOURNAL = +$1831.88

So, i'm up nearly a few K since starting the journal a month or so ago.

Stopping the journal here for now.
I kind of expected to do worse, and expected that, in losing money, some real, genuine pro's would pop in and tell me what I should be looking at in order to succeed.
As it turns out, i've made a little money, so maybe people haven't felt the need to offer advice, but I know i'm nowhere near becoming a consistently profitable trader yet.

I feel as though my results could so easily have been flipped around and be down a few K instead.
There is something i'm missing.

The guy I skype with averages about 12 ES points per day, every day! I've seen his calls with my own eyes for a good amount of time now. Tight stops, usually no more than 2 ES points, catches the exact turning points of lots of the moves, usually for +5 ES points or so per move. I've found nothing to give me such results yet, so I guess I should keep searching.

Good luck.
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Old May 22, 2012, 8:43am   #72
 
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Re: attempting ES futures

Quote:
Originally Posted by piggybridges View Post
-$214.96

Another losing day, and my first losing week since starting the journal.
Only down a little on the day, but want to do other things whilst the sun's out so calling it a day.

WEEKLY RECAP:
M 222.58
T -334.89
W 300.08
TH -227.18
FRI -214.96
TOTAL = -314.40

RUNNING JOURNAL PNL
WEEK 1 = +162.16
WEEK 2 = +1122.73
WEEK3 = +861.39
WEEK 4 = -314.40

TOTAL PNL SINCE JOURNAL = +$1831.88

So, i'm up nearly a few K since starting the journal a month or so ago.

Stopping the journal here for now.
I kind of expected to do worse, and expected that, in losing money, some real, genuine pro's would pop in and tell me what I should be looking at in order to succeed.
As it turns out, i've made a little money, so maybe people haven't felt the need to offer advice, but I know i'm nowhere near becoming a consistently profitable trader yet.

I feel as though my results could so easily have been flipped around and be down a few K instead.
There is something i'm missing.

The guy I skype with averages about 12 ES points per day, every day! I've seen his calls with my own eyes for a good amount of time now. Tight stops, usually no more than 2 ES points, catches the exact turning points of lots of the moves, usually for +5 ES points or so per move. I've found nothing to give me such results yet, so I guess I should keep searching.

Good luck.
Hey PiggyBridges

I cant understand how come your being so hard on yourself. Through out this journal you have not allowed your self to celebrate your wins.

In my humble opinion you have done fantastically, and I am creating there are the 90% of traders that consistently lose money would love to be in the position you are in.

Give yourself some credit.

You may also find this book valuable - Trading in the Zone, by Mark Douglas.

Good luck in the future.

Somesh
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