Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
6E is probably the best instrument to trade for both beginners and advanced traders. Each pip is $12.5 so that profit per pip you get the best return. The volatilty is what you are looking for and you have this generally all through the day.
Can you help answer these questions from other members on NexusFi?
1. The MM from Integrity-traders is a superior indicator than the one found in NT.
2. There is very little difference between the 40 SMA and the 50 SMA. The reason I use the 50 SMA is that the "BIG BOY" traders use it, so to be in line with what they are looking at. As I said it is there for more of a picture as to the main trend of the market at a specific time.
Hey Perry! Thanks again for this thread. I was wondering if there is an NT7 version of Jeff's Universal MA yet? Also, do you happen to know how much longer NT6.5 will be available? Thanks so much!
$12.5/tick offers best profit return, but also worst loss return! Shouldn't beginners trade something cheap like the YM at $5 per tick, or YG at $3.32 per tick, so they can minimize their losses until they increase their win ratio or develop a robust methodology? Obviously these instruments each have their own personality, but I think for newbies the name of the game is conserve capital, until you make it. With these instruments, you can afford to be wrong 2 or 3 times as often using the same amount of capital. And believe me, as newbie, you tend to be wrong a lot!
If you are looking to trade live right from the begining, then you are correct. I would not trade live until I have at least 2 weeks consecutive running of 90-100% wins on SIM. Then when you trade live the 6E would be your best bet. You start with 1 contract, trade 2 weeks with success, then go to 2 contracts for a week, and then 3 contracts etc. Do not use more than 30% of your capital for the number of contracts to trade. This is how you slowly build your account.
Sounds good. But, you don't have to have a 90-100% win ratio to be profitable. It depends on your Sharpe Ratio as well. You can be profitable with a 40% win ratio, if your trades are 3:1 reward/risk ratio.
You are god among men I wish I could get that high a win ratio! I think it all depends also on your style of trading and your trading method. Scalpers traditionally need a very high win ratio to be profitable because they typically trade with 1:1 or less risk/reward. As a scalper, I trade 2:1 or 3:1 risk ratio with a fixed 3 tick stop 6 or 9 tick target, I am consistently profitable with about 60% win ratio. You can get a 9 tick move in the CL before you take your hand of the mouse, that is a 3R trade in like 1.5 sec! I love those when I can get them