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masterm1ne
Registered: Dec 2009
Posts: 797 |
10-01-11 08:33 PM
Still trading in circles. Account high of 18.8k Monday the 26th, but I'm back to 11.2k. I've realized I don't really have an 'edge' or much of a plan other than just managing risk, and now that I've seen the power of risk management, I will be able to continue moving forward. I'm going to start incorporating more of a plan I've been working on, that involves my own trend following system. I feel too many trades get stopped out that eventually go my direction, causing the account to go back and forth.
I plan on trading 1 ES contract per 5k equity, due to the fact I'll be using larger stops, and I want to be able to hold onto my positions for longer periods of time.
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oraclewizard77
Moderator
Registered: Jan 2006
Posts: 2289 |
10-01-11 09:32 PM
It always amazes me when traders don't use simple automation to manage their positions and instead rely on their brokers crappy systems.
I don't believe in wide stops, I believe in chart based stops.
Also, I use Ninja Trader as a front end for whatever brokerage you want to park your money to trade futures.
The benefit of NT, is you can program trend following or fading, plus have price alerts to indicate when to look at a chart if the market is slow.
However, the order automation is the best, since once you get into a trade, you can have OCO, trailing stops, etc, all setup in advanced so you don't need to spend hours watching the market after you get into a position.
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masterm1ne
Registered: Dec 2009
Posts: 797 |
10-02-11 08:17 PM
Quote from oraclewizard77:
It always amazes me when traders don't use simple automation to manage their positions and instead rely on their brokers crappy systems.
I don't believe in wide stops, I believe in chart based stops.
Also, I use Ninja Trader as a front end for whatever brokerage you want to park your money to trade futures.
The benefit of NT, is you can program trend following or fading, plus have price alerts to indicate when to look at a chart if the market is slow.
However, the order automation is the best, since once you get into a trade, you can have OCO, trailing stops, etc, all setup in advanced so you don't need to spend hours watching the market after you get into a position.
Have you read any of my previous thread posts? I program in easy language which I feel provides plenty to create programs. Thanks for motivating me. I finally buckled down and coded my trend following system. I'm going to have it start trading 1 ES contract this week.
I'll look into using NT.
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masterm1ne
Registered: Dec 2009
Posts: 797 |
10-06-11 02:58 PM
+9k in past 2 days (obviously long trades on ES). Account at 20.2k. Cutting back size to break the 20k barrier (see previous posts). Next goal is to double account again. Still employing trend following (I use a combination of simple price indicators to tell me the "trend." Trend following is the only method I can make sense of. I now try to list at least 3 reasons (forgot the title of the book that I got this from) for entering trades. The more I can come up with the better.
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masterm1ne
Registered: Dec 2009
Posts: 797 |
10-06-11 11:10 PM
I'll post these when I feel like it, most likely at certain benchmarks. All time equity highs I believe.
Quote from adamm2:
Long ESZ1 x 1 @ 1138, Stop @ 1124.
Open position: Long ESZ1 x 1 @ 1139.25 *corrected from earlier post*
And to clear up any confusion, in the first post of this thread I said I don't use indicators. I do now and they are all price based to help me exit at the right time.
 d-39.png
This has been downloaded 129 time(s).
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