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Trading: The one I'm creating in the present....Index Futures mini/micro, ZF
Posts: 2,311 since Nov 2011
Thanks Given: 7,341
Thanks Received: 4,518
I had a Dorman account thru S5T as a intro broker. All was fine. I now have IB. I have seen in Ninja as the account is selected, actually with any other program too, you click in a drop down list and pick a choice. and then move mouse away. But you don't yet click on something else but you roll the center wheel. Bam you just changed the choice you made a few seconds ago. Did you catch it and put it back? Or did it go unnoticed? So..... you just put your platform into your live account, great! But a second later you changed it back to sim and failed to know it. You took a trade..... now you might have a whole bunch of issues like described above....not even realizing it.
Probabilities say the rookie made the mistake NOT the well established brokerage house.....IMHO....
Ron
...My calamity is My providence, outwardly it is fire and vengeance, but inwardly it is light and mercy...
The steed of this Valley is pain; and if there be no pain this journey will never end.
Buy Low And Sell High (read left to right or right to left....lol)
What is really fun is seeing you are live in the market with an active order bobbing up and down..adding to and subtracting from your P&L. Where did this come from....lets cancel that sucker right away.
Well it won't cancel! No matter how many times you hit the cancel button - it stays there.
We are having fun now.
Ok so it is a long order - ok short it. That should do it. Nope.
For a couple of minutes - complete terror entering orders and cancelling them - a comedy worthy of a darwin award on youtube.
Then i realized i was trying to use live orders to get rid of a SIM ORDER.
A mistake never to be repeated. Ninjatrader needs to make SIM not so real.
Trading: The one I'm creating in the present....Index Futures mini/micro, ZF
Posts: 2,311 since Nov 2011
Thanks Given: 7,341
Thanks Received: 4,518
How about this fear that was born when I started this trading thang...7-8 years ago.. I thought I was so start I could "scalp" (I called it) CIT stock I think it was but I might be wrong all I know is it was way under a dollar like $0.18 or something. So I had a great idea...lol.... I would trade 11,000 shares. This stock was bouncing up and down maybe 3 to 5 cent all day so I just wanted $0.03 and make $330. Well what ever I did I got in and out in less than 1 second. And stood there in complete astonishment as to what happened. Had zero clue and still don't. But it was all me. Extremely difficult to cleanses that fear from myself to this day. Only thing that helps is FIO. You all.
I also tried that trade again and lost $330 and quit toying with that idea licking my wounds. I should add a day or two before this I told my wife I was going to buy her a BMW X6 like this..as I whipped out its brochure.....lol
Ron
Sent from my iPhone using Tapatalk
...My calamity is My providence, outwardly it is fire and vengeance, but inwardly it is light and mercy...
The steed of this Valley is pain; and if there be no pain this journey will never end.
Buy Low And Sell High (read left to right or right to left....lol)
Someone PM'd me about this thread to throw my 2 cents. So here it is:
You need to know where you stand as far as your trades, and you can not rely on your platforms at all times.
Sadly, technology is not perfect, and there could be a myriad of errors that can occur that while you trade where you could be off on long/short/flat.
Over the years, I have advocated a number of solutions that could be helpful:
1) If for example you use a platform that uses the Rithmic API, have R Trader open.
It has a window called "Recent Trades" that will confirm your trades with a ticket # and when it was sent to the exchange.
If you sent an order on Let's say Sierra, and it does not appear on the R Trader, you may have a reason to investigate.
2) You can ask your broker how is your platform integrated with the back office and how fast does it update. There is a thing called prelim, and this is where your trades may flow throughout the day.
3) Find out how your platform's M2M (Mark to Market) performs at the end of day. I will give CQG lots of credit here, and again you can use CQG Trader to enter your trades because they have a really good way to show balances and positions. They accuracy so far is impressive. You nay have to pay an additional $10 for an extra feed but it's well worth it.
4) Keep manual track. Yes, the old +1/-1. Because it helps.
All of the above will help you, but if you are not an organized person and do not have a plan to keep track, then nothing will help you and you are prone to run into a big error.
The comment made earlier that a platform should have better visibility when it's in sim is ridiculous!! If you don't know if you are in real or sim, consider twice whether you should trade or play lego. The same people do not know their user ID, because they have entered it years ago and now it's just "there".
Guys, stay organized and know the advantages and disadvantages of your platforms and their corresponding technologies. If something heaven forbid happens, you can minimize the damage by being prepared.
Matt Z
Optimus Futures
There is a risk of loss in futures trading. Past performance is not indicative of future results.
Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email [email protected]
I too bought illiquid stock in the morning at 60 cents. Sold it later in the day at 90 cents when i saw it was up. When i discussed it with my broker the next day (back when we all used brokers) he said my buying drove the stock up (prolly on 500-1000 shares) lol. I was a small retail trader and probably the youngest of his customers.
Then there was the time when i started daytrading, I lost about $9k in 9 seconds. I think that one was called vrts and if i remember correctly i thought i was gonna teach the market a lesson. LOLOL
Prior to NT becoming a brokerage, I supported it for about 5 years.
In fact, I had one of the most comprehensive video libraries on YouTube for NT, 20 technical usage blog entries, etc.
Further, I was one of the first IBs to develop my own engine of Rithmic demos for NT.
All This removed at their request when they became a brokerage.
So to answer your questions, yes, I know it well.
We at Optimus try really hard to learn each software we carry.
My comments were not meant to insult you. I just care about the fact that if you come to to the markets and risk your capital, you should not "feed" the pros rather be careful, diligent, organized and always know where you stand. No one has endless amounts of risk capital and so I just want you to be careful. I am direct person and have always been like that as a broker. My tone may not be "nice" at times, but I truly respect traders and help as much as I can.
Matt Z
Optimus Futures
There is a substantial risk of loss in futures trading. Past performance is not indicative of future results.
Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email [email protected]
Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email [email protected]