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Security Shinobi
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Posts posted by Security Shinobi
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Engulfing bars are subjective though. What's an engulfing bar in one time/volume frame is just a retracement in another.
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I'm still paper trading as much as possible, so all I feel come friday is annoyance that I have to wait until sunday or monday to get more practice.
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In the past primarily index futures; for minutes at a time.At present primarily forex but some futures contracts; for hours at a time.
Why did you make that switch?
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Hahaha why can't anyone spell "losing"
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1. There is no such thing as an unfilled market order (except in the 20-30 ms it takes to complete)2. I am interested to see when traders are so committed to get in to a move that they execute using a market order.
3. You can see this information by looking at each transaction and determining whether it was filled on the bid or ask
4. Once you see that, and then see the next price, and the next price after that with the same aggressive behaviour - you can then be confident that, say 70-80% of the time - the market will move in the direction you noted.
Here is an example from yesterday.
The first zone on this chart that presents an opportunity for me is shown in the green shaded area at 9:20. Any retrace back to this zone is a long entry for me, given that other factors that I consider support that decision.
The next zone that present an opportunity for me is shown on the 9:40 sell off bar which has created a "sell" zone that I track and any retrace back to that zone creates an opportunity to execute a trade, given it is supported by the other decision factors that may be considered. In this case I did take the short trade at 1413.75 which was paid nicely.
Jeez, what charting software are you using?
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Depends on a few things. Lets say they are all market orders and they all get filled. Then they get what ever price they filled at. If they are limit orders then they get that price they were laid up at. So If they put a huge buy order at 1300 then they will fill at 1300. If they are market orders then they will start at 1300 and after all the sells are bought at 1300 they will go to the next tick up depending on the size of the buy order of course.I actually meant to say limit order, not market order, but you explained it anyway. Thanks. Although, if that's the case why doesn't everyone use limit orders all the time?
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What would have happened if the hypothetical Forex trader had taken a market order?
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When a big player makes a buy order that's large enough to drive a price up, do they pay based on the price before the order went through, or the price after? This is so fundamental that I should know it already, but I haven't been able to find the information anywhere.
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Well, I'm not going to do any live trading until I can consistently profit in simulated trading with the same margins and commissions I'd be using live. So that 2.5k may never get touched at all. :embarassed:
And yeah, at this point I'm not even doing that much sim-trading. I'm just backtracing all the historical data I have like watching a movie, and devouring any reading materials and theory I can find.
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For some reason I can't submit any posts. Or they aren't showing up. What gives?
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1-Why.
I want to find patterns in noise. I want to feel the will of thousands at the same time. I want something to work at, and learn, and gain skill in. I want to experience something that's both an art and a science. And of course, I want to make money.
2-Commitment.
I can commit several hours a day, four from morning to afternoon and more in the evening when CME reopens.
3-Timeframe and method.
I know that I'd like to trade intraday, but I don't know exactly which frame yet. I'm trying them all out and seeing which works best for me.
4-Account/investment size.
When I start trading live I'll have $2500 for an initial margin. If it ever drops below $1900 I'll stop trading until I can replenish it with my day job.
5-Money management.
I'll trade with either 20% or 40% of my principal, depending on how confident I am in the entry. My position sizes will only increase if I make enough money.
6-Product.
I'm beginning with futures since they have the lowest margins.
7-Broker.
I've chosen a broker that's known for low margins, speed, and reliability. Their commissions are slightly higher than discounts, but you get what you pay for.
8-Platform.
I've found a futures platform that has everything I need and is supported by my broker.
9-News source.
I don't intend to use news, unless I can find some RSS feed that will warn me of catastrophes.
10-Computer.
My PC runs my platform fine.
11-Internet Connection.
I have a (mostly) reliable broadband internet connection.
Considerations for a Wannabe Trader...
in Beginners Forum
Posted
The holy grail is that there is no holy grail.