Thursday, January 29, 2015

Thurs. 1/29

3:20pm CST - Well I either need to sh!t or get off the pot! I still haven't fully committed to trading my TF system but have taken a few signals this week to feel things out. Perhaps I'm just waiting for a new month to start.  This has resulted in a nice missed winner yesterday and today.  I nearly took today's but didn't like the location (near resistance). System trading requires taking ALL signals, no human bias allowed. 
RESULTS FOR DAY
TF Contracts:3
Net $P/L: -110
Wins: 1
Losses: 2
Win%:33
Avg$Win: 197
Avg$Loss: -153

In other news, I was surprised to read this yesterday that FXCM is joining with Gain and others to forgive "most" of the negative balances from the SNB announcement.  What surprised me is that they still plan to go after higher net worth individuals!  I wonder what net worth qualifies this determination?  And is it based only on your account history (max. balance) or does your net worth stated on account application come into play?  Something to think about if/when I sign up for my next account someday.
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8 comments:

  1. JMF3January 29, 2015 at 3:37 PM

    Is there a reason you don't just automate and watch it to make sure it's working properly? Why would you trade it manually if its purely mechanical?

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    1. MBAGearheadJanuary 30, 2015 at 3:35 PM

      I did say I was looking into in on my 1/21 post. But there are so many issues with automating on OEC platform. And to automate on Ninja I'd have to buy a license AND subscribe to TF data for an extra $101/month! For now, I'd rather have a bell go off (which I do) and enter trade manually.

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    2. JMF3January 30, 2015 at 5:36 PM

      Lol... got it. That makes sense.

      OEC, from what I remember, was a pain to code in. Also, I recall my DOM freezing on numerous occasions and in general inferior charting capabilities to Ninjatrader. Would you ever consider leaving OEC? There are a number of other futures choices, not to mention, Ninjatrader brokerage which, if you buy a license, provides pretty minimal commissions regardless of volume traded. ($4.28 RT 6E, $3.36 RT TF [including fees]). They clear through Dorman, which is slightly less capitalized than Gain, but with $0 forex obligations (versus Gain's $105M).

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    3. MBAGearheadFebruary 2, 2015 at 2:43 PM

      No plans to leave OEC/Stage5Trading at this point. But if someone offers me a better deal, I would consider it. Thanks for Ninja brokerage info.

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  2. TraderonlinefxJanuary 30, 2015 at 7:55 AM

    You should try spot Forex instead of Futures contracts, you might find it more...flexible

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    Replies
    1. MBAGearheadJanuary 30, 2015 at 3:35 PM

      I have traded spot Forex in the past. I may go back at some point but don't like the current variations in bid/ask/spread between various dealers and the less account protections compared to futures.

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    2. TraderonlinefxJanuary 31, 2015 at 1:23 AM

      Basically I can`t say you are under capitalized because you are not and you can trade futures contracts with your account size - for those with 5K that read this don`t try to trade futures with that - so its not that, you could make it right but the reason I`m saying to try spot Forex is to learn to do new things. You will not dare doing what is required to beat the market with all the cash you using now because at first you will lose. So choose to lose $100 on spot Forex learning how to do it and then if you finally get it your cash will allow to trade futures the same way. Get a ECN/STP account with commissions and you will find the variations in spread insignificant. Just my 2 cents on this

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    3. MBAGearheadFebruary 2, 2015 at 2:41 PM

      Thanks. Good point. I guess trading micro or mini lots live Forex is more realistic for working out a trading system than Sim futures trading may be.

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