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FiftyEight Fluffs Around In Futures

Discussion in 'Derivatives' started by fiftyeight, Jan 26, 2015.

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  1. fiftyeight

    fiftyeight

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    Time to start my own thread as I attempt to become more organised and more focussed at the Futures game.

    Initially it will just be a place for me to brain dump about brokers, data, software etc. I have a few ideas of how I want to progress but I assume this will change as I figure stuff out. So I hope this turns into a more concrete learning plan and eventually a Trading Journal.

    Currently I play around with SPI and the FTSE and use thechartist for EOD US equities. I did not think I could do any better than thechartist so I did not spend much time looking at equities. I also find EOD quite boring.

    At the moment I am working a 3:1 roster but eventually I will find an equal time roster to give me more time at the screen also because my roster the posts will be a bit sporadic.

    I originally started trading futures with a sport bet winning so I really was just having some fun and was lucky enough not to blow up my account and got on a few winners. I now want to take it a bit more seriously.
    I have decided to trade the HSI mini for a few reasons, they are cheap, move around, the hours are perfect and if I am any good I may be able to transfer the skills gained directly to the HSI. I have no idea if this market will suit me but seems like as good of a place to start as any.

    My current plan is to buy Ninja Trader, find an appropriate data feed and then execute through IB. I will spend time learning NT while I try and get a feel for the MHI. I don’t want a system but I do want to learn some basic coding and improve my Excel skills so I can start testing some ideas. Very simple ideas that have been looked at before but I’d like to look at them myself.

    Then I need to look at how I will organise my day, a trade plan, some rules to follow, risk management and a bunch of stuff I have not even thought of yet.

    On site at the moment but I will add as time permits and I have new ponderings.
     
  2. pavilion103

    pavilion103

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    Good luck :)
     
  3. tech/a

    tech/a No Ordinary Duck

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    Like it.

    Post up some charts and trades when you can.
    Whats the HSI mini Code?
     
  4. Trembling Hand

    Trembling Hand Can be found on the bid

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    When trading the MHI don't use that data. Its locked with the HSI and that is where the signals and movement comes from. So chart the HSI, execute on the MHI.

    But its a very good contract to learn on. Just like trading the big boy but 1/5 the dollar amount. Good idea. :xyxthumbs
     
  5. IFocus

    IFocus You are arguing with a Galah

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    Good one 58 look forward to following the journey all the best Pav proved its all possible.........
     
  6. pavilion103

    pavilion103

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    Any rough goals? Or not at this stage?
     
  7. fiftyeight

    fiftyeight

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    MHI, yeah I will be posting charts and trades but this is sometime away

    Will keep that in mind cheers.

    Goals or dreams haha?

    My immediate goals are to get NT setup, find a data feed, learn NT and some basic coding. Post up what ever I find.

    Dreams, quit work and trade full time:D For me that would require about $100k/year

    IB was easy, dump some money into an account fire up TWS and away I went. This data stuff is already doing my head in. Reading reviews about stuff I have no idea about yet, esignal might be the way to go so far
     
  8. CanOz

    CanOz Home runs feel good, but base hits pay bills!

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    Honestly, IB is good enough to trade the HSI or MHI. It's not ideal to match with NT, BUT if your on a budget it will do....I think Macquarie Bank has a futures broker with HKFE data....
     
  9. fiftyeight

    fiftyeight

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    I lived in 3 states, got married and changed career in 2015, everything is on a budget this year haha

    If I can get away with using IB that would be ideal.

    My wish is to be able to play a days trading after I get off work at a fast play back speed, play around with all the add ons NT has like Market Profile, and to be able to run simple historical tests similar to what TH has posted before.
     
  10. VSntchr

    VSntchr

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    January has been a busy month for you my friend :eek::D
     
  11. fiftyeight

    fiftyeight

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    Haha typing out replys during lunch with a bunch of people talking
     
  12. Lone Wolf

    Lone Wolf

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    Best of luck Fiftyeight. Hope you can get your roster sorted out ok.

    First time I've logged in for a while, good to see you're still pushing ahead while some of us remain broken down on the side of the road. I hope this thread reads of a succuessful journey in the months/years to come. :xyxthumbs
     
  13. fiftyeight

    fiftyeight

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    Working but mainly laptop issues have made progress slower than I'd like. Considering switching to MAC but using parallels (not even sure what that is) to run NT does not excite me. Other current option is the Acer S7
     
  14. waterbottle

    waterbottle

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    What sort of issues? Maybe someone can help
     
  15. fiftyeight

    fiftyeight

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    As in it's pretty old, spent a lot of time in and out of a back pack and is now warning me to back up everything as the hard drive is about to crash haha at least I got a warning
     
  16. waterbottle

    waterbottle

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    Ah. Well retailers seem to be running regular sales so it might be a good time to buy one.
    Having said that, I would think that order entry on a laptop would be difficult. I feel that a physical mouse is more responsive and easier to handle compared to a touchpad.
     
  17. fiftyeight

    fiftyeight

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    Yeah I agree, I use a physical mouse when ever I can.

    Current thinking is a mac air may just run NT for what I want. I will try pick one up off of gumtree, if I hate mac and want to get rid of it nothing lost. If I like mac I will upgrade to a pro at some stage in the future.

    If I go the NT with IB data route, will I be able to play back the days trading with DOM by downloading the data at night or will I have to leave my laptop on and connected to the net and record the data to play back at a later stage? Apologises if I have miss used some terminology.

    Not much really to post at this stage. Apart from the initial setup I am re-reading some of the threads I first read when I joined ASF. There is some awesome stuff on this forum:xyxthumbs
     
  18. fiftyeight

    fiftyeight

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    Had the morning off today so had a little play around with TWS book trader on the MHI. I was watching the HSI and executing on the MHI but found the histograms did not match in shape or where specific prices where traded.

    I had it set for 5 point stop loss and 10 point target. Got my stop to BE a couple of times and let 1 run a little. But I was chopped up by commission and hit my session limit.

    Ill get back to playing with NT.
     

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  19. kid hustlr

    kid hustlr

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    turn the P+L column off i reckon
     
  20. CanOz

    CanOz Home runs feel good, but base hits pay bills!

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    Fifty-eight, why would the two histograms match? They are two different instruments....??
     

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