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There will be a Live AMA session on Tuesday, May 14th @ 12:00 PM ET.
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Since we re on the subject of Phantom of the Pits, could you please explain how the process has changed over the past 15 years? ie. How much emphasis has been taken over by electronic trading, how strong is the physical aspects in the pits and such. Orders, locals, human interaction, etc...
Really appreciate everything you and big mike are doing here. Thanks, marts
Just a quick query, do daily moving averages play a big part in your trading strategy?
If so, how? And what setup parameters do you find most helpful? (I currently chart on CQG and use type 'simple', price set to 'close', and look at 10, 20, 50 and 100 day moving averages)
Many thanks to both Big Mike and yourself for all your help, its much appreciated.
Excellent question. I don't agree with this aspect of POP's rule. I believe that traders micro-manage their position after painstakingly putting it on in the first place (lots of price risk assumed to put the trade on). This is a double-negative, in my opinion (and no that doesn't make a positive thing).
How many times have you fiddled with a trade and then saw it work out just the way you had envisioned?
POP's rule is valid back in the late 90's and through the 2000's. However, the market is very slow to make a move and once the move takes place it ends quickly. Back then, you can see the reaction from the market to your position quickly and it was a lot easier to scalp it. Now, I believe a researched edge executed without errors over a large sample is the better way to go.
Almost all of the traders that we have at our brokerage overmanage their trades. This is a bad habit, in my opinion. It leads the trader to believe that they know what will happen but they don't.
Risk Disclaimer: Trading Futures is not suitable for all investors. Past Performance is not indicative of future results.
If you have any questions about the products or services provided, please send me a Private Message or use the futures.io " Ask Me Anything" thread
My risk sheet is proprietary. However, I know several people have asked for this. I will work something up and get back to you. I usually only share proprietary stuff with our traders.
Risk Disclaimer: Trading Futures is not suitable for all investors. Past Performance is not indicative of future results.
If you have any questions about the products or services provided, please send me a Private Message or use the futures.io " Ask Me Anything" thread