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KS,
You
can fix "no sleep" problem by switching to Interactivebrokers. They
provide API that allows to keep you stops
on you
home computer, so nobody can see them. There are some utilities on their
website sold and given away for free
that
may provide that capability. If nothing suits you needs you may program it
yourself or delegate the job to professionals.
For
the rare case of lost internet connection you may want to set an alarm on you
computer that will wake you up.
Of
cause UPS is a must.
Regards,
Vladimir
I trade daily, intraday, or position
depending on how the charts
look. The reason I say "no sleep" is
that I don't put stops in
because all electronic orders can be viewed by
other traders because
the real time quotes puts them up for everybody to
see. This means
that stops will get picked off. You will experience this
for
yourself, when it goes down to hit your stop and then proceeds to go
back up again. Since it is electronic it means instantaneous fills
or close to it. When the price hits my loss target I put the order
in at the market, This is the stop process the Turtles made famous
and
is probably the only thing that is useful from what they
originally did.
Of course I'm referring to electronic markets of dow
mini and others. I do
not trade the pit contracts unless I'm
position trading even then I prefer
the electronic. The leverage or
granularity you talk about is only
relevant if you talk about risk.
The higher the point value the
greater the risk to reward ratio. If
you are beginning i would recommend
the dow mini contract. $5
dollars a point and $2500.00 a contract.
Volatility meters and price
range can help with money management portion
of the trading. The Dow
market are the easiest to trade because they trade
in a range bound
pattern. Take a look at a historical chart of the dow
futures
contract. Do not chart the mini. Trade by the Big Contracts and
enter in the mini contracts.
(example of my last trade would be:
I shorted the mini sep dow at
10700 with a target stop loss of 50 points
or $250.00 and it went to
10734 and collapsed to 10580 which then I exited
at the market
because it hit trend line support. I checked the stop orders
place
at the time the market went to 10734 and the last stop order was at
that price 10734, then the market collapsed. So the reasoning is
that
if I could see it the big leverage players will move the market
to pick
off the buy stop and let the market go down to its proper
trend. My
stop method is from years of experience in this market
and requires the
ability to immediately exit a trade when the target
stop loss is hit. It
does not matter if it goes back down. You get
out. Any change in this
money management technique will cause losses.
One quick note : I tested
with real money with a coin flip. I
entered long if it is heads and short
if it is tails. I put the stop
loss at 1% or $25.00 or 5 ticks. With this
money management
technique I was profitable. Basically random entry
into the market
with a proper money management system made it
profitable. Trading
is 90% money management 10% technical. I use to
think it was the
other way around but it took awhile to figure this
out.
KS.
--- In equismetastock@xxxxxxxxxxxxxxx,
"metastkuser"
<andysmith_999@xxxx> wrote:
> KS,
>
> If you don't mind a few questions:
>
> 1) Do you
daytrade ES and YM or trade multi-day?
>
> 2) Do you see any
benefit from the added granularity of YM over ES
> (i.e. YM tick is $1,
ES tick is $0.25, but YM is 10x ES which means
> ES=$0.25 and YM=$0.10
in apples-to-apples). Does YM's finer
> granularity allow your stops to
be shaken out less?
>
> 3) Leveraging cuts both ways, but e-mini
traders only speak of it's
> goodness (as you are confirming). Why is
that? Have you never been
> hurt by the high leverage?
>
>
4) "Sleep is not an option because of night trading". I'm assuming
>
vigilant stop placement for ES/YM end-of-day traders allows for
sleep?
>
> Thank you for your help, KS.
> Andy.
>
>
> --- In equismetastock@xxxxxxxxxxxxxxx,
"formulaprimer"
> <formulaprimer@xxxx> wrote:
> > I can't
speak for anybody else but I have been trading the Dow
> > Futures
and Dow Mini and S&P mini since it began. Once you trade
> >
them you will never go back to stocks. It is because of the
> >
leveraging. All the indexes move in direct relation to the
Stock
> > Market indexes so any long term direction must be done with the
Big
> > Board not the mini's. Be warned the Night Trading
moves the
market
> > tremendously sometimes and sometimes sleep
is not an option.
> > Otherwise if your technical analysis is at a
high level you will
> > like it. August issue of Futures magazine I
think has a good
article
> > on options.
> >
KS.
> >
> >
> > --- In
equismetastock@xxxxxxxxxxxxxxx, "metastkuser"
> >
<andysmith_999@xxxx> wrote:
> > > Vladimir,
> >
>
> > > Thank you for taking the time to answer my questions.
> > >
> > > In your experience, how would you
compare trading the index
versus
> > > trading the futures?
For example, trading ES vs. SPX, or NQ vs.
> > > QQQQ,... I know
the leverage is very different, but besides
that
> > how
>
> > has your experience been?
> > >
> > > I
have heard that once a trader moves from stocks/indexes to
> >
futures,
> > > they never return to stocks...
> > >
> > >
> > > --- In equismetastock@xxxxxxxxxxxxxxx,
"v" <entinv@xxxx> wrote:
> > > > From my experience
future always track the index. For
example
> > > either
you
> > > > trade QQQQ or NQ
> > > > the only
real difference is the leverage.
> > > >
> > >
> Comparing futures to equities if you mean individual stocks,
the
> > future
> > > > never goes bankrupt therefore
it's
> > > > safer to buy. Futures, both commodities and
indexes appear
to
> > > better comply
> > > >
with the technical analysis
> > > > studies in comparison with
individual stocks. Many
individual
> > > stocks
are
> > > > not liquid enough to trade and
> > >
> those most liquid would track corresponding industry/group
> >
indexes.
> > > >
> > > > Never heard about
Track N TRade before. Looks interesting
> > > >
>
> > >
> > > > -----Original
Message-----
> > > > From:
equismetastock@xxxxxxxxxxxxxxx
> > > >
[mailto:equismetastock@xxxxxxxxxxxxxxx]On Behalf Of
metastkuser
>
> > > Sent: Saturday, August 20, 2005 11:56 PM
>
> > > To: equismetastock@xxxxxxxxxxxxxxx
> >
> > Subject: Re: [EquisMetaStock Group] Using Metastock to
trade
> > FUTURES?
> > > >
> > >
>
> > > > Vladimir,
> > > >
> > > > "It doesn't provide continuous contracts,
but for ES and
YM
> > you can
> > > >
use SPY/SPX and DIA/DJI if you need longer term picture."
> > >
> -- yes, it occured to me that I can use SPX
instead of
ES,
> > and DIA
> > > >
instead of YM. But, does the future always track the
index?
> >
Wouldn't
> > > > the future move much faster than
the index if the index
made a
> > sudden
> > >
> large move?
> > > >
> > >
> How do you like trading futures compared to equities?
>
> > >
> > > > By the way, have you heard
of Track N Trade for
backtesting
> > futures?
> > >
>
> > > > --- In
equismetastock@xxxxxxxxxxxxxxx, "v" <entinv@xxxx>
wrote:
>
> > > > For EOD futures I'm using HSQuote from
>
> > > > http://www.downloadjunction.com/product/software/4358/
>
> > > > It doesn't provide continuous contracts, but
for ES and
YM
> > you
> > > can use
> >
> > > SPY/SPX and DIA/DJI if you
> > >
> > need longer term picture.
> > >
> > Intraday I'm using MetaServer RT for
Interactivebrokers.
> > > > >
> > >
> > I don't trade options on futures.
> > >
> >
> > > > > Regards,
>
> > > > Vladimir
> >
> > >
> > > > >
-----Original Message-----
> > > > >
From: equismetastock@xxxxxxxxxxxxxxx
> > > > >
[mailto:equismetastock@xxxxxxxxxxxxxxx]On Behalf Of
> >
metastkuser
> > > > > Sent:
Saturday, August 20, 2005 8:18 PM
> > > >
> To: equismetastock@xxxxxxxxxxxxxxx
> > >
> > Subject: Re: [EquisMetaStock Group] Using
Metastock to
> > trade
> > > FUTURES?
> > >
> >
> > > > >
> >
> > > Vladimir,
> > >
> >
> > > > > If
you don't mind answering a couple of questions:
> > >
> >
> > > > > 1)
I'm only interested in S&P 500 e-mini (ES) and mini-
Dow
> >
> (YM). I use
> > > > > Reuters
for stock/indices end-of-day data. I don't
want to
> >
pay
> > > for the
> > > >
> omplete futures eod package. Do you know where I can
get
> > eod
> > > data for
> > >
> > just ES and YM?
> > >
> >
> > > > > 2)
Options on futures. I currently trade options credit
> > > spreads
on SPX
> > > > > and would like to
try credit spreads on ES and YM. Do
you
> > trade
> >
> > > options on futures? Can Metastock
support this?
> > > > >
> > >
> >
> > > > > ---
In equismetastock@xxxxxxxxxxxxxxx, "v"
<entinv@xxxx>
> >
wrote:
> > > > > > Yes, I
do.
> > > > > >
> > >
> > > Vladimir
> > >
> > > -----Original
Message-----
> > > > >
> From: equismetastock@xxxxxxxxxxxxxxx
> > >
> > >
[mailto:equismetastock@xxxxxxxxxxxxxxx]On Behalf Of
> >
metastkuser
> > > > >
> Sent: Saturday, August 20, 2005 5:53 PM
> > >
> > > To:
equismetastock@xxxxxxxxxxxxxxx
> > > >
> > Subject: [EquisMetaStock Group] Using
Metastock to
> > trade
> > > FUTURES?
> > >
> > >
> > > >
> >
> > > > >
> Anyone using MS to trade futures?
> > >
> > >
> > > >
> >
> > > > >
>
> > > > > >
> >
> > > > SPONSORED LINKS
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