Xmas Hols

devtrader

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Anyone else thinking of packing up the charts for Xmas ? Things seem to be a bit slow the last few days so i'm thinking maybe everyone is on holiday mode and maybe i should join them.

Been a good year, most profitable one so far and if the markets ain't moving much in the one direction i'm not gonna add to my profit margin but i have the awful feeling that if i do take the next few weeks off i'll look back at charts at the end of the day just to keep touch with things and see loads i great trades i should've/would've take ! Suppose least i know there will be plenty more trades next year.
 
Anyone else thinking of packing up the charts for Xmas ? Things seem to be a bit slow the last few days so i'm thinking maybe everyone is on holiday mode and maybe i should join them.

Been a good year, most profitable one so far and if the markets ain't moving much in the one direction i'm not gonna add to my profit margin but i have the awful feeling that if i do take the next few weeks off i'll look back at charts at the end of the day just to keep touch with things and see loads i great trades i should've/would've take ! Suppose least i know there will be plenty more trades next year.

going to be plenty of action coming up very soon
 
Anyone else thinking of packing up the charts for Xmas ? Things seem to be a bit slow the last few days so i'm thinking maybe everyone is on holiday mode and maybe i should join them.

Been a good year, most profitable one so far and if the markets ain't moving much in the one direction i'm not gonna add to my profit margin but i have the awful feeling that if i do take the next few weeks off i'll look back at charts at the end of the day just to keep touch with things and see loads i great trades i should've/would've take ! Suppose least i know there will be plenty more trades next year.

Hope you didn't miss today then if you're predominantly a with trend trader!

I shorted the GBPJPY naked last night for a laugh because I like pain and let's just say I haven't had a particularly profitable day. Since my running loss is in yen, it's mildly comical.

One point profit. I reckon I'll get it. In 2020.

Everyone should look for one point profit without a stop. That's how the pros trade. They just don't tell you in the books.
 

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going to be plenty of action coming up very soon

Yes got some of that action alright and made another few quid to add to the xmas coffers :)

Hope you didn't miss today then if you're predominantly a with trend trader!

I shorted the GBPJPY naked last night for a laugh because I like pain and let's just say I haven't had a particularly profitable day. Since my running loss is in yen, it's mildly comical.

One point profit. I reckon I'll get it. In 2020.

Everyone should look for one point profit without a stop. That's how the pros trade. They just don't tell you in the books.

Well going against the trend is certainly one way to get some pain, i'm hoping that's a demo account your running ?

When i wrote the post i was actually long Gpy/Jpy @ 132.48 and i got out yesterday @ 134.48, just couldn't let 200 pips get away. Had another few positions which also added to the profits so maybe i'll wait till next week to pack up for the hols.
 
Yes got some of that action alright and made another few quid to add to the xmas coffers :)



Well going against the trend is certainly one way to get some pain, i'm hoping that's a demo account your running ?

When i wrote the post i was actually long Gpy/Jpy @ 132.48 and i got out yesterday @ 134.48, just couldn't let 200 pips get away. Had another few positions which also added to the profits so maybe i'll wait till next week to pack up for the hols.

I've never traded a demo account in my life :cool:
 
That's unusual.

Plenty of work for no chance of remuneration and the result is absolutely meaningless - beyond my comprehension. Betting small did not help me with the psychology of betting big so I don't think betting zero would have helped me with the psychology of betting small if that makes sense. I'd rather have lost it all and know where I stand.
 
Plenty of work for no chance of remuneration and the result is absolutely meaningless - beyond my comprehension. Betting small did not help me with the psychology of betting big so I don't think betting zero would have helped me with the psychology of betting small if that makes sense. I'd rather have lost it all and know where I stand.

Yes i know what u mean about betting small not helping u with the psychology of betting big. Still personally speaking i've blown a few accounts in my time and i'm glad they were either small accounts or demos.

If u have enough cash floating around to blow better accounts it's up to u, your money at the end of the day :)
 
Plenty of work for no chance of remuneration and the result is absolutely meaningless - beyond my comprehension. Betting small did not help me with the psychology of betting big so I don't think betting zero would have helped me with the psychology of betting small if that makes sense. I'd rather have lost it all and know where I stand.

It's a fair point, you can't really learn about the psychology of betting with real cash in demo. They are undeniably great for testing strategies, or for gettign to grips if you are an absolute beginner. But to learn more about hte psychology and emotional side of trading you really need a live account, even a micro account will teach you more in this respect than a demo.
 
It's a fair point, you can't really learn about the psychology of betting with real cash in demo. They are undeniably great for testing strategies, or for gettign to grips if you are an absolute beginner. But to learn more about hte psychology and emotional side of trading you really need a live account, even a micro account will teach you more in this respect than a demo.

Yep - for me trading large enough to get a little bit angry, but not distraught, is best. I want to be punished for mistakes, like my JPY trade into stimulus. Perhaps the market's reaction to such news is actually a bit ridiculous and so often we see a reversal of nearly 100% of the move the very next week on profit taking, but I was stupid to bet otherwise. I wouldn't have remembered it had I not gone big enough to notice. It's twice I've been on the wrong side of an FOMC statement and shows I should join the no trade crowd during these days. I never would have adopted this behaviour without a monetary loss.
 
To provide the other side,

I have demo'd on every broker I've used before using them, and I've demo'd on ninjatrader, X_Trader and Multicharts to see if I liked them. I also often use market replay to practice (in faster than normal time) to improve my execution. So I can't imagine never having used a demo account. I know it might seem boring to trade without any remuneration, but it's about developing a skill
 
To provide the other side,

I have demo'd on every broker I've used before using them, and I've demo'd on ninjatrader, X_Trader and Multicharts to see if I liked them. I also often use market replay to practice (in faster than normal time) to improve my execution. So I can't imagine never having used a demo account. I know it might seem boring to trade without any remuneration, but it's about developing a skill

The smart man's approach, but I've always had a feeling of time running out in everything I do, which is why I couldn't stand my former employment (I was on one too many leadership committees...) so I couldn't do that.

Question, what did you think of Multicharts? I had a go on it during November for 2 weeks or so and I'm honestly amazed by the price they charge for it. Unless the auto trading is ABSOLUTELY amazing and I mean AMAZING (I did not try it), then it's not good value for money.

I couldn't even overlay multiple timeframe moving averages over a single smaller timeframe chart - well I could, but the process was so buggy that the MAs follow the screen, rather than the price, even when explicitly defined not to. I was unimpressed.
 
NinjaTrader is a little cheaper than Multicharts, but not much. I like both of them. I have ninja lifetime, but it has some flaws, occasional crashes, and the odd rogue order that remains on the DOM in orange and won't get deleted. If you put up a number of short timeframe charts it can struggle (part of this depends on the computer, but it's not just that with ninjatrader). Also it stupidly treats historical data and market replay data as two distinct things which is annoying (whoever decided on that wants sacking), so you can't replay historical data downloads.

I am thinking of moving to multicharts at some point. But I'm still fond of ninja, it does have some very useful features, for backtesting etc, and things that make your trading life a heck of a lot easier, like auto stops and targets. And having traded on a ladder, I hate going back to the simple order entry that you'll find on most spreadbets - that's just so slow and prone to errors. That alone is worth good money. I guess it depends on circumstance, but $1000 for a lifetime, or $4 a day for one trading year, which makes your life easier, and allows you to do a lot of testings and strategy design seems like good value to me.

Of Course Xtrader was great, but that really IS pricey, and I only demo'd it with velocity.
 
Of Course Xtrader was great, but that really IS pricey, and I only demo'd it with velocity.

Why didn't you just pay the inflated commission they charge if you're using it? $4.52 per RT on ES, entry level isn't exorbitant.

Or is the way you trade very sensitive to commissions?

e2a - I packed up on Tuesday this week for Xmas now - back on 2nd Jan

As for demo'ing I have a lot of sympathy on this one. My execution was great when I was using SB. My execution was great on demo on direct access. Then when I switched to live my execution went through the floor as my head exploded after the initial 3 weeks of 'trading has found me' exuberance. Jesus that feels like such a long time ago now.
 
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