Am I ready to go live?

Discussion in 'Index Futures' started by DougStewart, Jul 3, 2017.

  1. I agree, "untestable" and "unproven". I think I can only prove through my performance. Pardon copping out, but here is a reference to how I try to trade using the indicators:
    http://emini-watch.com/emini-trading/emini-day-trading/
     
    #11     Jul 3, 2017
    VPhantom likes this.
  2. soulfire

    soulfire

    The simplest form of automation is setting your parameters in advance of each trade- putting in a bracket order that includes both your target price and stop loss exit. If your platform permits, you can include an adjusted stop that triggers at a specified level that moves your stop loss to break even. This way, you're eliminating any emotional interference/impulse decisions that can happen watching the price fluctuate during the trade.
     
    #12     Jul 3, 2017
  3. I understand. I just have no idea how to automate such using the indicators. :confused:
     
    #13     Jul 3, 2017
  4. Thanks for the feedback. Yeah, that's me. The pic is a head shot I had made when I was trying to get into voice acting. That was a bust, but kind of interesting.
     
    #14     Jul 3, 2017
  5. Oysteryx

    Oysteryx

    Sample period too short to draw conclusions, particularly for discretionary execution; be good to be sure you will be respecting your risk/stops. That'd require more time. Could lose it all in one trade. As Mike Tyson once said, everyone has a plan until punched in the face. Be wise to see how you wade through an extreme volatility spike or a long run of bad luck (it will happen). Furthermore, 2.5% at risk per trade is too much for a regular trade (regular = no particularly special circumstances). For my taste that is, of course. And 4 points on ES is oftentimes noise - presently not even 2x ATR on the 5 minute chart. You'd be placing your stop within the noise - not good unless the method is centered around scalping with the trend, entering with stops (as opposed to limits). My half cent. BTW, congrats on the performance, those are great numbers. I'd look into modeling PNL (downside) volatility / drawdowns. GL.
     
    Last edited: Jul 3, 2017
    #15     Jul 3, 2017
  6. punisher

    punisher

    If you haven't seen one of my favorites from that era, "the color of money" then you definitely should. Be a student of human moves...
     
    #16     Jul 3, 2017
  7. Xela

    Xela


    This site I've heard of (I just didn't recognise the guy's name). Granted, there seem to be far fewer complaints and less criticism around, online, of this stuff than is the case with many indicator vendors.

    I wish you well with it, anyway.

    I think you need longer (preferably more than just another month, especially with it being July), and the 2.5% risk per trade would give me serious palpitations, myself. At some point, you will probably have a 40-50% drawdown, at that rate. And potentially more, maybe even significantly more, if it turns out to be less reliable and robust than you imagine.

    The "longest losing run" isn't the real enemy. The "longest losing patch" is - and those are nearly 5 times as common, on a numerical equivalence basis. I'm "just saying".
     
    #17     Jul 3, 2017
    VPhantom, DougStewart and comagnum like this.
  8. Again, thanks for your sage comments Xela! We'll see if I can maintain my progress.
     
    #18     Jul 3, 2017
  9. comagnum

    comagnum

    Making a living trading futures with an account 10-20 times larger than $25k is hard enough, even when you have decades of trading experience. Be aware that aspiring traders never expect how much $ and time it takes to hit a sustainable stride. Some profits early on does not mean that you will not have to pay your fair share of market tuition. If you have financial resources beyond $25k or a spouse with a good income than you will have a much better shot of success. I would reign in the loses you take on trades from 2.5% to 1% or less as most pros do. Indicators have little to no bearing in your success in the long run, it is having very good risk/trade mgmt discipline that makes or breaks traders in the end. Great job tracking your numbers - honest/accurate self analysis is a trait the best traders have.

    Best of luck to you.
     
    Last edited: Jul 3, 2017
    #19     Jul 3, 2017
  10. Ah, yes, that's a good one.
     
    #20     Jul 3, 2017