Micro E-mini Madness (2% per day)

Discussion in 'Journals' started by sstheo, Aug 19, 2019.

  1. sstheo

    sstheo

    Hmmm. Maybe so. Any suggestions for me?
     
    #41     Aug 19, 2019
  2. Overnight

    Overnight

    I would suggest you stop entertaining others' ideas for now, and just go with your system live as you have it in your head. You have your track record from the CME contest, so implement, and see how you do!
     
    #42     Aug 19, 2019
  3. sstheo

    sstheo

    Thanks for the thoughtful post. Indeed the market is highly volatile right now. And I may need to scale to 1% or 1/2% or just "2 ticks" average per day! But at least now with the Micros, I now have a tool in my tool box I didn't have before.

    I agree with you that the emotional side of trading is much larger than us rational types are prepared for. And we have to be careful.

    Knowing I am not alone in my frustration with the market I want to share my journey. Hopefully I will have some good results to share in the next weeks and months.
     
    #43     Aug 19, 2019
    Overnight likes this.
  4. Looking forward to watching your Journal. I'm waiting for the volume to pick up in the MGC contract. The MNQ has plenty of volume already. Good luck!
     
    #44     Aug 19, 2019
    sstheo likes this.
  5. sstheo

    sstheo

    The CME challenge felt like a fun crazy free-for-all. It was 24 hours a day for 5 days. And there was lots of volatility that week. The contest did not foster safe trading principals at all (and I told the CME as much afterwards!), but created a frenzy. There were no commissions and no limits on the number of trades. It was all about identifying big market shifts and holding on to winners for the duration of the move. I was in the top 10 most of the time, but flamed out on the last day. We were able to trade up to 10 micros each of MES, MNQ, MYM, and M2k. It was a good experience and I did lots of scaling in and out. It was a blast, but I was really tired near the end.
     
    #45     Aug 19, 2019
    mbondiett likes this.
  6. sstheo

    sstheo

    I was being mostly facetious. I plan on doing what I do, especially now that I have advertised it to the world. But I do keep 5% of my mind open to new ideas, so I wanted to give myself a chance to try on a potentially new golden nugget of wisdom.
     
    Last edited: Aug 19, 2019
    #46     Aug 19, 2019
  7. sstheo

    sstheo

    Indeed the epiphany for me came when I realized with the micros I can add contracts one at a time and scale up gradually. I will post my official rules, but I will probably add 1 micro with each additional $500 in the account balance. $1500 would then allow me to trade with 3 micros. If I keep looking at a % growth and keep things reasonable and not try to swing for the fences, then I should succeed.
     
    #47     Aug 19, 2019
  8. sstheo

    sstheo

    Thanks for the interest.

    I agree that MGC certainly needs more volume to really be tradable. And I heard there are some pretty vocal bodies try to get an MCL created. That would be nice....
     
    #48     Aug 19, 2019
  9. sillyw10

    sillyw10

    fwiw..spent last few months testing various AMP platforms for MES trading..decided to go with AMP Global EU..they only offer MT5..but with Stereotrader it is fine

    what software are you using with AMP..what is your strategy ( one liner will do)..what time/s can you trade..how many monitors do you have..have you a papertrading account set up..can you trade another account (for micros) with a different broker using your MT5 account

    keep in mind the only big difference to trading the ES is that you are risking more ticks per contract..at the end of the day you still need to know exactly what you are doing and have a sound strategy to achieve consistent profitability with a given no. of trades!!
     
    #49     Aug 19, 2019
    sstheo likes this.
  10. Overnight

    Overnight

    MGC is perfectly tradeable with the volume it has for us retail-types.
     
    #50     Aug 19, 2019
    dwt likes this.