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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures -- Ignore unavailable to you. Want to Upgrade?

To: Patrick Slevin who wrote (42321)	12/16/2000 10:36:25 AM
From: Atin	Read Replies (1) \| Respond to of 44573

My two (really 4, because I was placing orders on both the ES and the NQ -- since they seemed to be so closely related) trades in the morning sucked, but I netted 12.75 points on my 3 afternoon trades after I did some tweaking of my entry/exit/position size rules. Overall I still ended down due to the first 4 trades, but not as badly as before and feel more confident now. I still have a few weeks on the demo to go before I put down real money on my abilities as a trader! I need to learn more about risk management, both in terms of stop placement, and in terms of position size. The first four trades really messed me up (a net loss of $5K on those) and one thing I've realized is that it is really hard to make back such losses in one day. This is very good training, it is one thing to read about "cut losses quickly, let profits run" and quite another to actually see it working in practice! I'm trying to become more patient and making myself wait until I am really confident about the trade (ideal is a 3:1 profit/loss picture). It isn't in my makeup to "scalp" so I'm just fading all breakouts against the trend on the idea that markets have inertia and are resistant to change. With decent stop loss rules, I might do ok. I'm using a multiple timeframe sort of setup -- using the longer timeframes for trend analysis, shorter timeframes for overbought/oversold indication and a short timeframe PnF chart for signaling buy/sell and stops. I hadn't filtered everything until after lunch yesterday (when I had time to think about why I was down $5K in the morning!). I'm having a blast (this might be because my last 3 trades were wins <g>)! I may have found my calling (consistent losses 3 days in a row notwithstanding . . . I'll get better, I think <g>. At least I have my first 3 profitable trades, even if on paper only! ) -Atin

To: Patrick Slevin who wrote (42321)	12/16/2000 10:43:48 AM
From: Atin	Read Replies (2) \| Respond to of 44573

Do you know if arcfutures has fixed their real trading program so one can put a stop/limit order on short positions? The demo doesn't allow me to put a stop loss and a profit exit at the same time when I have a short position, but will on long positions. Big pain . . . I haven't opened an account with a firm yet -- Lind-Waldock has traders (including Barry Lind himself) using PnF -- so I exchanged some email with one of their people about PnF and futures. They're also kind of big, so might get good executions. I like the arcfutures demo and want to support them just for providing such a great learning tool. That, and the fact that you're thinking about them too. So right now it is between those two. -Atin