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Attached is the full size results for the last 18 trading days......
Posting has started to mess with my head as I've started second guessing trades (hesitation) the last few days which is the kiss of death for traders.
Might come back to posting once everything is back to normal.
Has certainly been an interesting experience as I've never posted my results before.
Best of luck and as you see it can be done!!
I'll take tomorrow off!!
I am up Nikkeis on the day but I am coming closer to reaching a decision that I'm not going to trade them. All instruments are susceptible to the slamming through bids and offers, but the Nikkei is the worst I have ever seen. I was long some and scaled out on a nice pop and then on my other half I just could not get out. You would think that if I'm literally number TEN in the queue that I would get a fill... but they stalled for 10 seconds, and traded straight through the bid ... at one of those prices, ZERO traded at the offer. We're talking about slamming through 20 index points with literally no one except the guy hitting the bid getting filled on the offer. I've realized what the machines do here because I see it every day (by "see it" I mean, "experience it")... if you want to buy, and wait for the offers to get in the double digits, and take that offer, chances are it will not go. Only when the offer is quite large does it go all at once, and so there's no opportunity to get a quick fill and immediately be on the right side. Once the offer goes, if you immediately bid at the new bid, the machines easily know what the starting bid quantity was (say there were 400 on the offer and someone took 500 -- they know that the original bid quantity is 100). Even getting in as fast as humanly possible, there is a very small chance of a fill there, as the machines won't hit past 100 on the bid, leaving you at the front of the queue, while they now take the new offer. It's the most machine-driven product I've ever traded. In the above scenario, with many humans, there'd be at least a few who hit that small bid. But, I suspect I may be the only human trading MJNK, despite its massive volume Sorry for rant on your thread, but I can't post it really anywhere else, I know you'll understand what I'm talking about
Josh,
Why do you do it to yourself....what is it about the Nikkei that you like so much?
Even my Japan-based trading mates don't like the local market.
Your struggle kind of highlights why the HSI/HHI are good markets...lots of locals on the keyboards and not too much algo tricks going on..with the lower depth you do see it when the big orders just vacuum all the standing orders and the market rips instantly, but I'm rarely on the wrong side (luckily)
I'm assuming you moved your stop on the remaining contracts to break-even after the first target was hit?
Unless the price moves past your target by 1 tick I wouldn't assume a fill....(from my experience).
How about the SPI (ASX) contract as an alternative? Single point spread and $25 BPV + cheap Bro via AMP.
You know, I'm not sure really. There's something about single digits in the order book that I just don't like, and there's something about 1000 lots that I do like ... But, when volatility comes into a market like ES on a day like today, it also suffers the same problems... you must take liquidity, really, to maintain sanity. Yes, the HSI certainly does have its 20 tick, one-way moves as well, but the single tick per point (unlike the 5 per on Nikkeis) does make it easier to salvage a tick or two when needing to get out.
I don't keep an actual stop in the market when I trade, and I was prepared to scratch it, but once it hovered around my price, that's when the 3-tick slam happened quickly. In this case a stop would have been great, but typically, I find that stops cost me money.
SPI ... I looked into that some time ago, but after looking at a CFD of the action, I can't say I'm too eager to trade that market. I'd say Japan, China, and US is enough to drive me crazy enough already
Well from your comments I can understand how you trade a bit more now....yes agree with you on the volume - more is better but have never found it a problem for my tiny size (mainly 2 lot) on the HSI - yes I've been ripped a couple of times - most was like 10ticks on a stop loss but that's 1 trade in a 100...I find having a stop loss level set inside my bracket orders insurance as I'd rather take that small loss vs letting it run and praying the market comes back to break even+ (its funny how you can sense a good trade vs bad in the first 10 seconds of entry - no pop = troubles ahead in my case) ....
Massive day on the ES.(50 point sell off - wahoo!) ....geez I wish the timezone was better for me....trading from midnight kinda sux!! I just cant do it anymore.
Bit of a summary update...for the week
Monday was trading holiday for me...so trading results Tue-Friday 28th
Wish my retirement fund account returns were as good as my HSI scalping....got hosed like everyone else. FFS
Scalping really is a superior trading style if you can get it to work...none of this long&wrong rubbish.
Tue - 70 tics (3/3 winners)
Wed - 87 tics(3/4 winners)
Thu - 56 tics (6/7 winners) - 1st trade loser as stop placement error
Fri - (16 tics) (3/4 winners) - big 76 tic error on the first trade - doubled up position by mistake...complete F-up! Market moving Very Fast
Good week this week....no stupid errors and good patience...this is most important !!
I've ditched my opening range trade signal and just trading purely 100% price-action signals only....does it work? Mentally much better option as this signal was less reliable vs the pure price-action signals.
Also trying to squeeze out some extra profits by placing 2 targets - +0.5R & +1.0R Vs 1 target at +0.5R- works randomly but when it does I'm done for the day in 2 trades - which is always nice!! See 3rd Mar trades.
2 Mar - 4/5 winners
3 Mar - 2/2 winners
4 Mar - 6/6 winners
5 Mar - 3/3 winners
6 Mar - likely a holiday as wife's birthday
Yeah, I didn't even attempt a trade in HSI tonight, Nikkei was a bit more manageable, even though it has been incredibly wild as well. Buy it, and it's up 250 points in about 90 seconds ... nuts is right!
Early in the session there was about an 8 tick spread.