I am looking for someone to review my /YM (paper) trades before I go live

Discussion in 'Index Futures' started by Av8rdan, Dec 19, 2018.

  1. Av8rdan


    I was trading FOREX on paper for 18 months, recently gave that up and have moved on to futures, primarily the /YM emini. Having incredible success with it in thinkorswim papermoney, doing so well I am wondering if there is something about futures I am missing.

    So I am looking for someone who can just review a PDF I made from TOS account statement output, look at my trades and tell me if what I am doing looks like it would work in live trading. I want to start a dialogue with a current active futures trader so I can ask some specific questions. Will not bother with online "mentors" as many of them are scams that just want to sell me their "holy grail" indicator.
  2. nickynoes


    You seem to be doing well, keep doing what you're doing. Don't overthink, don't look for outside sources for confirmation. Live trade with a small stake and don't risk too much.

    Live trading won't be the same but don't panic. Try to keep going through the same motions and think about what you did wrong after any errors. Try to take a break in-between or when you feel any emotional discomfort. And above all trust in your edge.
  3. Av8rdan


    I love trading futures but need a much larger account to start with live, one contract of /YM requires like $6,600 in margin. But feeling very good using what I learned trying to trade FOREX and applying that to futures.
  4. Visaria


    u can pm me if u want...i trade YM everyday.
  5. YM trader here too. (not full-time though). We can have a conversation if you want.

    Just be aware that when you begin with this, that market behaviour can change.
    Right now, volatility is rather high since October. Which makes certain things working "better" during that time imo. There are more trending moves available for trading. But that can/will change again. VIX is >15 for some months.
    Be sure to backtest whatever it is that you're doing also works during periods of lower volatility (VIX <15), which can stretch for many months to even years.

  6. qlai


    Why don't you provide the basic stats: #trades, max win/loss, avg win/loss, MAE/MFE, win ratio. This should be sufficient first step.
    wrbtrader likes this.
  7. wrbtrader


    You can not determine what someone is doing wrong or right if they are only looking at broker statements...a common flaw many do not realize. It may be better suited to just post videos of you trading and of your monitor as you navigate from one trade to the next trade.

    In contrast, if you revealed your trade method in that same .pdf file with the broker statements with timestamp fills and you reveal if you're using charts (time frame), DOM or whatever trading tools you're using with your trade plan (I didn't say trade method)...you will have a better starting point beyond just broker statement.

    Also, the fact that you even mentioned the word "mentors" implies you may be trying to find someone to review your broker statements as a substitute for mentoring...flawed approach. You don't need it if you put all the info about your trading plan (once again I didn't say trade method) in that .pdf file along with a well documented trade journal...its all you will need for someone to be able to make suggestions after reading the info...reason for my suggestion that if that's what you're trying to do...post videos to go with those .pdf files.

    Therefore, its simple from this point on. Just start a trade journal here at ET...post your files at the end of the trading day if you're really in need to find someone to review your trades but keep in mind that if you're not revealing the trade method, your trading environment at home and anything else that impacts your trading...some stranger reviewing your file will only be able to say basic statistical analysis info.

    Trade Journal Section @ https://www.elitetrader.com/et/forums/journals.29/

    Just be careful about simulator trading. It should only be used to learn the broker trade execution platform or used briefly when there are new changes to your trade method (method that's already been backtested) prior to you trading with real money on the minimim trade size (e.g. 1 contract).

    Use the simulator too long beyond the above...you will see a completely different trade performance when you traverse into real money trading...often worst than your simulator trading performance.

    Most common simulator trading mistake is that the trader is using an account size, margin/leverage not realistic to what they will be doing in their real account. For example, using a simulator that lets them trade with 100k when in reality their real account is only 5k...silly stuff like that. Another example...riskier trades on the simulator and then they try to "cherry pick" their trades in real money performance.

    The killer, the emotions or lack of in simulator trading will not even be close to the same emotions in real money trading especially in the first few months of real money trading via the fact that there's not a "do over again" the next day if you screw up big time in one trading day. Thus, a big screw up on simulator trading...you get to start again the next day. In real money trading, you screw up big time...there may not be a next day.

    Good luck.

    Last edited: Dec 19, 2018
  8. qlai


    Nailed it!
    tommcginnis likes this.
  9. Overnight


    Warning sign is right there. If you have been trading 1 contract in YM, and feel squeamish because something in your system shows you that you need much more capital, then you have been doing it wrong all along. THAT is why there truly is something about futures you are missing. So how much were you using in your account trading FOREX that seems inadequate for YM?
  10. Av8rdan


    I am currently paper trading 10 contracts in /YM, not one, just looking at how much capital I would need to trade live. Not feeling squeamish at all, made $7,603 today including selling /YM when it was high before Fed announcement, and trading it for $6,800 as $DJI shed like 700 points after the announcement. Yeah sure, all on paper (in thinkorswim) but numbers are numbers, in this case, sell high, buy low and move on. So not really sure if I AM missing anything. Right now I am just trading bigger numbers than I can afford now in live. But will soon move into trading /YM one contract, and am sure I can make some money with it so when I go live, I will feel fine about my skill level.
    #10     Dec 19, 2018