Joining the CME gang

Discussion in 'Journals' started by hilmy83, Jul 17, 2019.

  1. hilmy83


    Starting this thread to document my goal of becoming a CME leasing member (B3)

    Brief history on myself..

    Started OTC forex daytrading in 2009. Fast forward 7 years, I managed to net about $50k. That's roughly $3.72/hour, but it's actually a lot less cause I was trading/learning forex pretty much around the clock. When someone said you'd be more successful working at McDonalds than daytrading, they are right lol

    Anyway, I made the switch over to futures in 2017 when I started learning about vwap/volume profile. But I realized that those analysis just cannot work in decentralized market like forex. Plus all the bullshit mispricing and spread manipulation by brokers was enough reason to stop forex trading altogether.

    So when started trading futures, I tried everything. ES,NQ, RTY, gold, oil. etc. I used $25k of my forex profits and turned it to little over $70k. But managed to blow half of it in 1 day. That has been my history in trading. Spectacular growth and spectacular tilt leading to blowout. That was when I decided to take steps to fix this tilt issues of mine, otherwise, i'd be one of those senior forum members wondering why the hell i wasted my life getting into this cycle of boom and bust of daytrading.

    I started the thread of documenting my PnL 2 months back. Today I thought, what the hell am i doing here in a forex forum? So packed my thread and moved it here lol. Anyway, I'm a big believer of transparency in this deceptive industry. Too many delusional players overstating their abilities with nothing to show for it. I belive that PnL is the ultimate yardstick. Not your ticks, not your endless analysis, not even your education. Just pure PnL that should do the talking

    Anyway, I decided to go with NQ because this market just fits me so well. This market also seem to work well with my method of analysis. I'm not a believer in trading multiple markets, so, NQ is the only market I trade.

    Next couple of posts I'll share some details into how I approach trading.

    Oh, I also livestream my trading on youtube from time to time. No comments are on these streams; just pure trading. I don't know what I plan to do with this channel, but I just kept going with it lol.
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  2. Peter10


    almost everyone started with forex...
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  3. speedo


    Leasing a membership makes sense when you are trading adequate size for it to result in a reduction of transaction fees AND you are consistently profitable. You don't want to have to back off trading to re-work a flawed methodology while having to service a monthly lease nut.
  4. hilmy83


    So before I make a post on how I approach trading, I'm going to migrate over what I've done so far.

    I had about $5000 left of the futures account when I started the journal in June 2019. I was doing a weekly updates on the progress. I use my own spreadsheet and a weekly statement to verify for accuracy. Along the way, I also make regular monthly withdrawals since I believe in positive reinforcement of good performance.

    I will update the first post (if possible to just have the summary of the journal right at the beginning as well

    June 2019





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  5. ZBZB


    I have been watching the CBOT seat prices come down all year. Maybe the farmers in the mid west who cannot grow anything are hitting the bid.
  6. hilmy83





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  7. speedo


  8. wrbtrader


    The videos reveal you're trading too much size and most likely have (had) issues managing your emotions while in an open trade that's losing money.

    Swings in the account like that...Up and Down...will also show up when you make back those losses in a very short time duration.

    Thus, I'm curious why you're staying with Emini NQ futures instead of moving to Micro E-mini MNQ futures until you can manage your emotions consistently ???

    By the way, wouldn't the live streaming of your trading cause the emotional issues to return or do you feel like you do not have any issues with the mental aspects of your trading ???

    The only issue I have is that initial video (Youtube) documentation includes background music as if you're trying to entertain the viewer instead of showing your actual audio while your trading so that it can reflect what's really occurring in the background of those trades in your trading environment wherever that may be (home office, work office).

    Yet, maybe you posted that initial video to be entertaining (not boring) whereas your other recorded videos has "no audio". Also, it looks like you've switched brokers or trade execution platforms in comparison to that initial video you posted here.

    What's the link for the "live streaming" ???

    Other than that, great thread so far and welcome to ET. Very few have the guts to live stream their trading. Hats off to you...BRAVO and wish you the best in your quest to become a CME leasing member...very beneficial for large size traders.

    Last edited: Jul 17, 2019
  9. hilmy83


    My goal is to hit $150k trading 3-12 contracts. Currently trading 1-4 contracts.

    I figure at $150k my monthly comm without membership will probably be around $2000.

    I currently use AMP

    .5 amp
    1.18 cme
    .02 nfa
    .1 cqg

    =3.6/rt + 5/month for data

    with membership if i'm not mistaken

    .5 amp
    .35 cme
    0 nfa
    .1 cqg

    =1.9/rt + 110/month data + 300/month lease

    So the b/e point is $410 in fees for members, after that, the discount hits. I'm actually already hitting that savings at current size.
    Last edited: Jul 17, 2019
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  10. hilmy83


    my strategy requires 1-4 contract sequence at the very MINIMUM. So $5000 is all i had when i started (after recent blowout trading double contracts). So I THINK i learned my lesson with tilting

    at $5000 restart, it was huge risk, i know.But shit I had no choice. I didn't want to put back anymore money and get into that cycle of deposit/blow out again. I minimized it as much as i can when i started this journal. The single contracts for every setup doesn't work for me. So it had to work or i'd be out of the game for good and focus on a good career (which I have by the way working in the defense contract industry).

    Live streaming trading was really part of a much bigger content. I had vacation videos, workouts, video game streaming etc. Youtube and forum is my only social outlet, so i was sharing stuff online. But i decided to cut the personal stuff out and just left the trading side. I did talk over in some videos but after a while i just got tired of talking lol. This channel is just doesn't require work to maintain. Whenever i'm off work (usually every other friday-I stream). If anything it gives hope that trading is possible? I like to review my videos especially on those bad days; so really this is for me. it's therapeutic haha
    Last edited: Jul 17, 2019
    #10     Jul 17, 2019
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