Emini SP [ES]

[spoofer]

Anyone, Hi..

I am just starting out as a junior and have started on a training programme at a london prop firm...

I want to speak to anyone who has found a good method on consistently being able to identify good/average trading opportunities.

At the minute I am got a 40/50% hit rate but as its new to me I am looking for advice on what type of techinicals provide good signals.

At the minute I use 1 and 5 minute charts with the FastStochas, RSI indicators. I try to use Fibonnaci and also look to the EminiNasdaq, EminiDow and their repsective cash equivalents! I want to use MP as I think everyone uses it, am I right???

Any help will be most appreciated, in the meantime I will search through this forum for any helpfull information..

Cheers

 

[JTrader]

Hi spoofer

what is MP?

Cheers

jtrader.

 

[Porks]

Hi,

Recommend you read/study everything by dbphoenix,

Porks

 

[options]

J trader.

MP is prob market profile.

 

[fastnet]

Hi there spoofer and welcome to T2W -

When you say that you have just started at a London prop firm what does that actually mean in reality?? Do you come in, sit down, get your account topped up and off you go?? Are you trading your own account and paying the firm for desk space and data feed etc?

Have they provided you with any training? What systems/set-ups to the other traders use?

If I'm being unduly nosey then say so - I'm just curious really. Saying that the advice in Thirteen's last paragraph is about as good as it gets and dbphoenix's posts (and there are many of them!) are defo worth every minute. If I were you I would make my first priority surviving long enough to learn some basic techniques.

Best of luck!

FN

 

[spoofer]

Cheers fastnert/thirteen/porks,

I am a junior prop trader, have been in training for 6 weeks but was mostly doing Bund/Bobl/Schatz, tried the EurDollar (interest rate).... All the desk fees, cut etc applies!

However, I think im suited to indices trading, but the thing is that it is so volatile that trade selection is imperitive, especially with my risk/reward (which may be worng)... I am limited in that my company hasnt got that much of a deep pool of indices traders, 95% trade Fixed Income futures!

I will definetly take a read of the posts but if you have any info let us know!! Trading the range is a handful!

HAD a 42tick winner today, cant be doing that much wrong!!!!!


SPOOFER

 

[rollsafe]

sounds interesting

 

[dvdh]

Hi.
you should subscribe to Ben Lichtenstein's S&P 500 pit squawkbox. It gives you an idea of the sentiment in the pit. I don't think you should trade the S&P future with indicators, because it's still both pit and electronicly traded. You can find Ben Lichtenstein's squawkbox at www.realtimefutures.com, there you can take a 3-day trial and for a sample you can go to www.alivequotes.com. It might be hard to understand in the beginning but in the members area you can find a tutorial. I think it's very usefull. Try it.

Dave

 

[josbarr]

Your government securities trading costs should be less expensive than stock indices. This can add up over the long run.