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That's good to hear, at least you're finding success/progress on SIM. I know of a place that would consider you if you could show several months of live trading stats. You would only need to have traded the minimum size to show your method in action and illustrate that you have the psychological strength to trade live.
I don't trade full time unfortunately but that's my goal eventually. Currently I work in a related field in finance and work varying shifts to cover the different shifts. This allows me time to trade the EU or US open sometimes which is good. The rest of the time I just read a lot, make notes and prep for potential trade opps. Once I've got a track record built up on live and I have some funds to support living expenses for 12 months I'll take some time out to try my hand full-time.
Can I ask what got you interested in spreads over outrights? Do you feel that spreads are less risky? I ask because even when spreading you have a position in the market (reversion to/from mean). Any books/threads you could recommend?
I am new STIR trader (trading BAX listed in montreal exchange).
Can you please elaborate a little how de you useorderflow and yield curve analyses to spot a good entry .
Thanks for your good thread.
Trading: Dax, ES, FX, Gold and Oil but what Bund and Bobl also.
Posts: 106 since Jul 2012
Thanks Given: 108
Thanks Received: 126
I only had this online journal for a month so thats why you've not seen me post anymore.
Which company trained you? In relation to my spread trading I got trained by GTC - https://www.globaltradingcommunity.org/
Are you still trading spreads? No currently not trading spreads as I've just not got that sort of funds laying around but I would definitely have it as part of my trading. Currently just trading outright Dax and SP500 on spreadbet platfom, but even here are to many brokers not exactly working with you and do things like requote (so they dont fill you when you want it) or delayed entry. Also I'm still working full time night shifts in order for me to have a few hours in the morning to do this, so its not exactly an ideal setting.
Did you manage to get into a prop firm? Nope, to many scams here in London and thus far it has costs me a fair bit of money. Generally they require you to either have 12 months plus trade track record, or pay a fee. Thus far I've been through several and paid the fee but they didn't turn out to be what they said they where. If I do decide to go though a firm next, I will visit their trading floor first.
Trading: Dax, ES, FX, Gold and Oil but what Bund and Bobl also.
Posts: 106 since Jul 2012
Thanks Given: 108
Thanks Received: 126
At the moment not trading spreads but the main thing you're looking for during the day is an unbalance in the months that you're tracking. It might help to see this visually on a spreadsheet but even without it you'll need to practice this a bit but you'll get the hang of it when you do it frequently. Very much the same with orderflow really. It's hard to put into words exactly what I'm looking for, but after you've spotted some unbalance you want to look at the orderbook next and look at which months gives u the best orderflow read for a possible entry for one side of the leg, and the exact same for the opposite. Generally the further apart the months are the more differences there potentially can be and thus a more potential profitable trade, however if you're trading the same market I found it important not to use to much of a gap, so generally if I had a March contract I would either use the December or June contract, so the one before or after, and maybe September, but def not Dec after as in some futures this gap can be very wide and you'll need to make sure they stay correlated enough for you're intraday trade, unless you're happy to take on greater volatility and overnight positions, then that's of course a very different story.
I haven't done these courses or haven't reviewed this material to know whether it's any good or not but information on spread trading I have found to be very limited so thought it might be of help.