My 1st day trading futures

Discussion in 'Trading' started by cashmoney69, Dec 14, 2007.

  1. I hae compensated for that shortcoming by setting my orders 1/4 further from what they would have been in real life.
    So, a fill for 62.50 would in real trading be set at $50. if the only thing that OEC is lacking is lousy fill time then by all means deduct 1/5 of the sum at the end of the day (minus the commish of course).

    BTW I have done the same on NJ with similar results. :D :D :D :D :D
     
    #31     Dec 14, 2007
  2. xiaodre

    xiaodre

    Cashmoney, excellent first day!

    However, please take this advice: please, please, PLEASE do not buy the bottom in an afternoon consistent and volatile downtrend. You bottom picked. It's catching a falling knife. What's worse is that you got away with it and made cash, so you are likely to do it again.

    Please please PLEASE wait for confirmation. Otherwise, you are looking for a world of hurt.
     
    #32     Dec 14, 2007
  3. Boib

    Boib

    Just a suggestion; If your stops are consistantly getting hit and reversing why not move your entry to where you would normally place your stops. Then put a tight stop on that entry?
     
    #33     Dec 14, 2007
  4. I'm 1/2 way there. I placed a limit order about 10 points above the current price with IB's WebTrader to catch momentum and BANG they fill it at the current price the second I hit submit. :confused:

    I'm still getting familiar with WebTrader and one order I would like to place is something similar to this:
    • Current Price: 13000
    • Go long at: 13030
    • Go short at: 12970
    • Trailing stop: 5
     
    #34     Dec 14, 2007
  5. Boib

    Boib

    Man I hope you're Demo trading.

    I think you can do this with IB. Use One cancels all orders with an attached stop. It's not something I would do.

    You could put a stop buy and a stop sell either side of the market and when one filled the other would be your stop until you adjust it.
     
    #35     Dec 14, 2007
  6. Nope...real trades. Even though that order went in earlier than I wanted I still squeaked out a profit. I also completed two YG mini gold future trades, one I hadn't rolled forward and it was liquidated at a profit: Details Here

    A demo can only teach so much.
     
    #36     Dec 14, 2007
  7. eminiben

    eminiben

    give the poor guy it is his first day
     
    #37     Dec 15, 2007
  8. Thats an interesting strategy.
     
    #38     Dec 15, 2007
  9. What do you find interesting about it? Not being fictitious, just trying to see if you are being sarcastic or genuine.
     
    #39     Dec 15, 2007
  10. No I'm being genuine. I'm trying to understand where you bought and sold (and hopefully, why) but the time stamps are off due to time zone difference.

    How much equity are you using to do that?
     
    #40     Dec 15, 2007