ET Swing Trade Competition Journal

Discussion in 'Journals' started by spect8or, Dec 19, 2003.

  1. Banjo...yes you actually have a good point! I set my overnight Futures margin requirement at $4000.00 per contract to be as fair as possible...but if this contest sets a standard day/overnight margin requirement for this contest for all the Futures traders to use, then I will adjust my original entry Friday to fit any basic margin standard we set here. Think about a standard margin that all the Futures traders should use and I will adjust my original trade size as needed to maximize my trade...Thanx!

    Happy Holidays!

    Chris
     
    #11     Dec 21, 2003
  2. lindq

    lindq

    I'll play, but not unless some standards are set for margin that equalize futures and stock traders.

    Maybe you want to split this into two, otherwise it will get messy. One contest for futures, and one for stocks. The other issue is how you are defining swing. Some folks think that means 2 hours. Others, a few days or weeks.

    Gotta set some rules before moving out.
     
    #12     Dec 21, 2003
  3. lindq

    lindq

    For Gods sake, Chris, I've never seen anybody so anxious to trade. How about you wait until the friggin contest at least gets started! Geez.

    And to encourage any other futures traders to get involved (I am not one), I suggest that whichever hand you use for your mouse, you are required to tie behind your back.
     
    #13     Dec 21, 2003
  4. I believe that ACTION always speaks louder than words! :cool:

    Now lets have some fun...and I promise I will only trade with one hand tied behind my back!

    Happy Holidays!

    Chris

    BTW, as I make entries and exits to my overall position I will try to explain what I am doing as best I can (I may also include some chart snap-shots at www.ttrader.com ... mycharts ... CK Charts to show some of the reasonings behind a specific entry or exit). ALSO, I am not the guy who said I have a position already from many days ago (LOL), because I entered my first position only AFTER the contest thread had been initiated... :)

    BTW, Swoop I will post what I am doing for several days regardless of any other postings, so maybe some of those that email questions to me can see better what it is I do when in a position trade.
     
    #14     Dec 21, 2003
  5. swimmus

    swimmus

    I will post my swing plays- ES swings, stocks and stock options that I make with my small account that I actively trade

    Currently flat except small position in a gold play.

    Objectives-
    ES - enter positions at strong resistance or support levels with an anticipation of 10 points or more.

    Stocks - Find stocks breaking support and or resistance for quick profits, usually under 3 days. Also, find stocks in strong trends and pulling back or find ones that are reversing.

    Options- long calls or puts based upon longer term, more than three days.

    I will be using real money in my small account and I never let it exceed 15k (keeps me from doing stupid stuff, hehe). Upon reaching 15k, I immediately take the account to 10k. ( This rule will change if I decide to step into PDT arena, but for now I will only swing trade- or daytrade ES).

    I am starting this off with 10k and I am currently looking into several different plays. I base my trades primarily upon technical analysis with a nice healthy serving of some fundamentals. I like to keep my eye on the macro.

    For Stocks, I will take a quick profit on 60-80% of my holdings. For example, if XYZ runs two bucks and I have 500 shares, I will sell 300 for the gain and reduce my risk. I can then keep the 200 shares for continuation of the trend.

    On the ES, I tend to guard it more carefully upon entrance but become more lose as the trade progresses in my favor.

    Options are more for a reduced risk multi-week plays. I do not play these as often- has to be a really good set up to make it worthwhile. (Although I must admit, options are still relatively new to me)


    CURRENT Watchlist:
    AZPN- may need to pullback a little , but on the move. Near some resistance at this level and volume is increasing as well after consolidating for a month.

    CPN- volume increasing and I see some interesting technicals diverging bullish ( I use TC2000 software).

    TSG - another apparent base.

    I'll post some charts when I can.
     
    #15     Dec 22, 2003

  6. Hi lindq. I'm not sure I understand why we need "equalize" futures and stock traders. Everyone starts with 25k and as long as they don't exceed margin requirments we'll be fine. What am I missing?

    And 'swing' can basically mean anything held for more than a day. (I covered this.) In other words, anything beyond day trading.
     
    #16     Dec 22, 2003
  7. WE ARE ALL STARTING AT 25K...lets keep this on track here or we will have 18 different people doing 18 different things. Everyone started with 25K...period...time is ticking, place your trades as you see fit and lets not commingle this with whatever we are doing in our own actually accounts (if you want to detail what you are doing in your own personal account, then start a "journal" thread). This will get very confusing if we do not all stick to the format as described in the original post to this thread. Good luck to all who participate!

    Fights On!

    Chris
     
    #17     Dec 22, 2003
  8. For stock swing traders what does 25K equal to margin wise in this game?

    50 K ?

    63 K ?

    83 K ?

    :confused:
     
    #18     Dec 22, 2003
  9. bobcathy1

    bobcathy1 Guest

    Ok kids......my swing right now is ER2 Long at 543.20.....5 contracts since I am going overnight and the margin is about 4k each contract. I am a scalper, so this is going to be interesting.
    Cathy
     
    #19     Dec 22, 2003
  10. T-REX

    T-REX

    perhaps we should clarify that for stock trading vs. futures trading it really should not make a difference.

    Example: 1 emini ES = $50.00 per point/4 tick move
    $4k initial margin/1k daytrade margin
    5 emini ES = $20k overnight margin

    5000 shares =$50.00 per point/penny move
    Can only trade stocks under $5.00 per share in order to be on par with the 1 emini ES @ $50.00 per point move. NOTE: 5k shares would be the maximum to = $25k account.

    I do not see how it could be any plainer than this?
     
    #20     Dec 22, 2003