ER2 Leading Indicators?

Discussion in 'Index Futures' started by swcom, Oct 22, 2005.

  1. you have something here that i want to touch on and it deals with psychology which is a critical part of everyones trading.

    STRESS --- what would and usually does cause this feeling when trading? stress comes from not having a specific plan of attack that you are confident in for whatever price action may do once you have entered a trade. if you keep getting a lot of "unrealized" losses converted into "realized" losses on a daily basis {from stops or reversing constantly} then lack of confidence in a persons system would definitely set in. if you keep getting into trades everyday with no plan or set of rules to carry out while in each trade, then we have all the criteria in place for emotional stress risers --- lol.

    the ONLY way to have any chance of eliminating stressful trading is to have a specific plan once a trade is entered for ALL possible outcomes. when you enter a trade and already know EXACTLY what will take place no matter what price action does then you have no fears of the unknown --- because with a plan there better not be any "unknown" events once the trade has been entered. your trade management plan must have all the possible outcomes accounted for. if every possible outcome is accounted for in your plan then what would be the basis for your stress --- there should not be any at this point.
    #41     Oct 26, 2005

  2. ok --- good points. yes i am going to just take a break and have some fun prior to the holidays. plus i will be able to meet some people that i have talked to over the years but have never met -- should be fun.
    #42     Oct 26, 2005
  3. OK, let's talk mechanics here. I have only 1 account at IB and you have at least 2 accounts at IB or somewhere else. How do you quickly manage positions in 2 accounts without loggin in and out of accounts all day? Sorry for the naive question. It's probably very easy at IB and elsewhere, I just haven't seen how to do it yet.

    Oh, also do you hold positions overnight? One thing that comes to mind is that you could equalize the positions in the 2 accounts at the end of RTH for when you're not looking and stay fully hedged for any overnight surprises, yet still stay in the game for the morning, saving commission/slippage costs.
    #43     Oct 26, 2005

  4. yes i have numerous accounts --- i have two 19" LCD's that are filled with various systems trade platform DOM's. i use two accounts and two DOM's for the er2 trading i have mentioned here. i have my DOM's on almost all the time --- i only have them off a few hours a day so only one log-in a day is required for me.

    yes i hold overnight a lot --- just covered some short positions here now in the last few minutes from the overnight {er2 and es from "fade the midnight rally" play --- lol :D }.

    your last question is something i do on occasion if i want to hold some long positions overnight {very rare for me --- i tend to only hold shorts in the overnight as i have signals}. i will hold an equal number of shorts going into the overnight session to make sure that my longs are equally hedged --- then i will trade out of whatever position is underwater per my rules as the day session opens.
    #44     Oct 26, 2005
  5. This is good stuff, thanks alot!

    BTW, when do you sleep? LOL
    #45     Oct 26, 2005
  6. Hi Macro,
    I'm following your posts with a great interest :)

    Can you tell me, what are the settings of RSI and MACD you are using for ER ?
    RSI seems to be very fast.

    #46     Oct 26, 2005

  7. oh i get my sleep here and there --- hahahaha! :)
    #47     Oct 26, 2005

  8. sent you a pm --- i do not use the RSI.
    #48     Oct 26, 2005
  9. I see, so by not 'realizing' the loss you have a better chance of getting the money back.

    Fantastic idea. I'm going to start doing this today!
    #49     Oct 26, 2005
  10. better chance?
    #50     Oct 26, 2005