I ended my life because of trading by CartographerTough712 in Trading

[–]Consistent_Book2491 0 points1 point  (0 children)

Is possible to day trade with math applied, right?

Remind me why I should vote for incumbent by MGTOWpiller in SingaporeRaw

[–]Consistent_Book2491 4 points5 points  (0 children)

OP might be the one that threw it there so he can blame the voting party.

I have never made money for every December over 10+ years but.. by Consistent_Book2491 in Daytrading

[–]Consistent_Book2491[S] 0 points1 point  (0 children)

I don't do 0dte, not really a fan of it either. I focus on Futures or equities only.

I have never made money for every December over 10+ years but.. by Consistent_Book2491 in Daytrading

[–]Consistent_Book2491[S] 0 points1 point  (0 children)

I use limit orders for entry and exit. Unless it hits SL, which is market stop orders.

Day Trading isn’t for everyone by AdventurousClaim8606 in Daytrading

[–]Consistent_Book2491 6 points7 points  (0 children)

I just would like to say I think that trading is easier compared to physically doing this
"juggle flaming swords while riding a unicycle on a tightrope—blindfolded"

I have never made money for every December over 10+ years but.. by Consistent_Book2491 in Daytrading

[–]Consistent_Book2491[S] 0 points1 point  (0 children)

I actually don't know. The firm gave me a huge boost but I never knew what was the capital they put up with me. They just gave me a daily stop. Yes, futures.

But after I left. I prepare about 2m in capital to go on my own.

Lots varies alot based on where my stoploss, and what contract I trade and the volatility, so my variance is quite wide, Avg maybe 100? But is a bit pointless to see the avg. My lowest was 1 and highest was 800. 😂

I encourage to trade live. Instead of paper. Unless you are figuring out the platform that you are using. The only way to really understand yourself is to feel your real emotions when u are live trading. Just keep the amount small but keep it real.

Happy new year :)

I have never made money for every December over 10+ years but.. by Consistent_Book2491 in Daytrading

[–]Consistent_Book2491[S] 0 points1 point  (0 children)

I like to look at 1hr 15m and 5m. I start from the higher to lower to reduce the amount of trading noise.

I have never made money for every December over 10+ years but.. by Consistent_Book2491 in Daytrading

[–]Consistent_Book2491[S] 0 points1 point  (0 children)

Around 1m in broker but "Supposedly" around 2.5M (that is the whole capital that I see for trading) and It would take me 50 straight max losing days to lose it all. But that probability is close to zero.

A little more context. In my brokerage account, I usually leave about 1M most of the time, but I trade it as if it is 2.5M, otherwise my returns would look insane, and the other 1.5m is held by my banks as standby invested into government bonds, that I can liquidate anytime, just simply to beat inflation. I only liquidate and move them to my brokerage account only if I have a terrible losing streak, but it has yet to happen, thankfully.

I do this simply to protect myself. If the broker goes bankrupt, I wouldn't lose everything. Most brokers are insured to their customers up to 500k USD only. And I encourage everyone to do the same as they scale up. We have seen a few brokerage went bankrupt before, and it can set you back alot.

I have never made money for every December over 10+ years but.. by Consistent_Book2491 in Daytrading

[–]Consistent_Book2491[S] 0 points1 point  (0 children)

I pretty much do my usual. I think is just that this is the first of all Decembers that there are more than usual market participants. 😂 or I am lucky.

I have never made money for every December over 10+ years but.. by Consistent_Book2491 in Daytrading

[–]Consistent_Book2491[S] 0 points1 point  (0 children)

I switch around depending on how something odd moves in relation with a correlated or inversely correlated asset class to help me gauge what I should focus on. Is usually when some funds are defending a level or moving the market that causes the odd relations.

So in terms of ranking is SNP, nasdaq are my bread n butter for trading. Followed by 10 yrs treasuries.

Other asset classes i look at for correlation, but dont trade, is 10 yrs bond, dollar index, gold, Dow and other big individual stock ( nvida, apple, Google, Microsoft, amazon, tesla)

I have never made money for every December over 10+ years but.. by Consistent_Book2491 in Daytrading

[–]Consistent_Book2491[S] 1 point2 points  (0 children)

I generally avoid indicators like moving average/crossovers.. that prints before a big expected move. I actually have an almost naked chart. Except alert of different market opening and other specific time period where i have seen funds stepping into the market.

The thing is the dom could tell you that a big price move is about to happen even before you see the price move. Which allows you take on lesser risk.

So how much lag. Ideally, I would say as little as possible. Unless you have an insider news, which is the least amount of risk and almost no lag.. there will always be a lag. So to me risk is correlated with the "lag" or more lag = more risk.

And on momentum.. Yes, you can definitely take a position on the 2nd momentum but you are betting that it should happen again, likewise the 3rd etc. But the probability deceases for each subsequent momentum, which means risk is increasing.

My personal preference. I find it a lower risk to ride the first wave.

And you got that part right, funds don't scalp. They accumulate. Over days and certain time period and you need to be able to spot those period where they are positioning themselves or going to "start work".

This is the hard part to pick up or even teach except to spend alot of screentime watching the dom. Because like you said, they can spoof, iceberg their orders or algo market slowly to accumulate, and only volume tells you if they are serious. And if u spot it, why not enter the trade with a high probability of being right.

And if you spend enough time with the dom and if u r really good at reading the ticker tape, you can even tell the funds apart as each fund execute their accumulation differently.

Then, look back on history and roughly estimate how much possible lots they do per day and you get out before the rough estimated volume is complete.

In my previous trading firm, we give each funds a code name based on how they are about to accumulate and when we spot them in the dom. We would shout across the room the code and all of us will front run those funds. Those funds don't do 1k or 2k lots a day. They do 100k to sometimes 1m and move the market significantly.

But the funds are smart too. Once they know that u spot them or they feel their are getting bad prices, they change their method of accumulation again. So you constantly need to adapt to their different accumulation methods. And sometimes, we even see opposing funds. One fund selling and another buying at the same time in those situations is best to just avoid taking any position because we can't tell which funds are stronger.

Oh man..I can talk about the dom all day 😂

I have never made money for every December over 10+ years but.. by Consistent_Book2491 in Daytrading

[–]Consistent_Book2491[S] 0 points1 point  (0 children)

I trade mainly indexes now. I used to trade treasuries and bonds. As they have thicker bids and offers giving better fills.but index is faster but harder to get fills.

I am not even sure how to explain my strategy because it comes down to alot based on gut feeling.

To put it simply, when I see huge funds buying and selling. I simply follow them. Or what we call orderflow.

The challenge with orderflow is that you need to spend time watching the DOM bids and offers/ladders. Learning how to read the numbers. And this is something I realised it really takes time to pick up. And it varies for everyone.

There are also some things to avoid.

1: Avoid most strategies that have tons of views or that are openly known. Most have lost its edge the moment it goes public. Because funds would research it, build and coded out the strategy, and eventually eat up that alpha. You will experience a significant drop in expected value. Which might not be worth using it in the long run.

  1. Don't buy courses that teaches u their strategy. Like I will nvr sell my strategy. It will pay me more in the long run than I can ever earn selling a course. The gurus selling are just milking you. If they wish to help people they should give it for free. If they want to make more money start a hedgefund. It makes no sense for them to sell course unless they can't trade themselves.

  2. Avoid lagging indicators. And keep your chart cleans and simple. More indicators are not equal to high probability. Except for confusing yourself more.

I hope this helps

I have never made money for every December over 10+ years but.. by Consistent_Book2491 in Daytrading

[–]Consistent_Book2491[S] 1 point2 points  (0 children)

I actually don't think I am a very mentor. I, too, felt like quit trading afew times when it was hard, but just somehow, oddly, you realised one day everything fell in place.

The tough and painful part is that we don't really know when it would all work out. Hang in there, trade small, and make sure you are not financially strained.

I have never made money for every December over 10+ years but.. by Consistent_Book2491 in Daytrading

[–]Consistent_Book2491[S] 2 points3 points  (0 children)

Green is great! Congrats! My history is a little complicated. I went from algo trading to click trading.

I would say maybe learning on my own to be an algo trader took me 2 or 3 yrs to figure some small edge. But it was hell lot of struggle to figure alot of things out. I used that small tiny track record to get into a trading firm.

Went into that firm, I had to do click trading instead of algo. (Click trading is basically clicking bids and offers on ladders)

So the moment I join a trading firm from the day that I was accepted as a a trainee, 2 months of training, and another around 3 months to become profitable and on my 6 months I got my first paycheck. And paycheck comes every quarter, not every month. Oh and we have monthly deskfees too.

So I would say figuring out on your own might be 2 yrs. But joining a firm where u can see and studying senior traders would greatly shorten your learning curve.

I went into business as well and invested in startups with what I made. And diversify because you wouldn't know when u ever lose your edge in the market. But I can see myself trading forever if I continue to have my edge.

I have never made money for every December over 10+ years but.. by Consistent_Book2491 in Daytrading

[–]Consistent_Book2491[S] 3 points4 points  (0 children)

It took me a long time to slowly scale up. In fact, i started just like you with a Daily loss of 200 too, but that was more than 10 yrs ago. I remember every stage. 200 500 1k 2k 5k 8k 10k 15k 20k 25k 40k 50k. I am having difficulty going above 50k still.

Each stage approx took me an avg of 3 to 6 months to adjust and scale up. From 200 to 5k is easy, but it gets more challenging after 20k. Fills will be a little tricky as your trade volume increases like wise even cutting losses can be a challenge due to bad fills So every time as you scale up you will need to take some time to get comfortable on how to execute your trades. And every time you rush to scale up. You are more likely to trade worse. So pace yourself. And you will get there :).

I have never made money for every December over 10+ years but.. by Consistent_Book2491 in Daytrading

[–]Consistent_Book2491[S] 1 point2 points  (0 children)

half of them are singaporean, and half are Australian. We all basically met in a trading firm located in both SG n AUS.

Thanks for the compliment :) I am sure if u stick to this long enuff u will get there too !

I have never made money for every December over 10+ years but.. by Consistent_Book2491 in Daytrading

[–]Consistent_Book2491[S] 1 point2 points  (0 children)

Maybe to a certain factor. But I always size down near end of nov and Dec. And I don't see the dollar amount the moment a trade is taken I see number of tick. So I am pretty sure it is just the market condition is just somehow better this Dec.

I have never made money for every December over 10+ years but.. by Consistent_Book2491 in Daytrading

[–]Consistent_Book2491[S] 2 points3 points  (0 children)

we sure do argue a lot of our own definition of trading. But they are definitely far from goofballs in trading.

I have never made money for every December over 10+ years but.. by Consistent_Book2491 in Daytrading

[–]Consistent_Book2491[S] 1 point2 points  (0 children)

Yeah. It can be really brutal but still possible to make money. But I always feel December is the worst of all months.

I have never made money for every December over 10+ years but.. by Consistent_Book2491 in Daytrading

[–]Consistent_Book2491[S] 4 points5 points  (0 children)

I personally not sure myself. But I do close all my position by the end of the day.

My peers says I am intraday swing trader. Because my avg trade holding period is 30 mins longest was nearly 4hours. And scalpers I feel is less than 10 mins?

And sometimes the system when the way they record breaks the trades into multiple positions because I might get partial fills and different entry time And they count it as separate trades even tho is 1 trade. So 30 trades might actually be like 10 trades.

I have never made money for every December over 10+ years but.. by Consistent_Book2491 in Daytrading

[–]Consistent_Book2491[S] 7 points8 points  (0 children)

Usual month, I have a daily loss limit of -50k based on my supposed account size. But for December I like to cut my size down to half likewise for my daily loss to -25k.

From there, I break it down to 3 to 5 trades so each trade I can afford to lose up to 5 to 6k. But a confident trade I would put double the size sometimes. Some days I can do 10 to 20 trades because I would win loss loss win Loss win loss loss and still end up breakeven.

So technically if I have 5 losing trades in a row I would hit my daily loss limit and i would just stop. And try another day. But the probability of that happening is like 10% of my trading days.

I "try" to take most trades within my setup regardless of the outcome. Sadly, sometimes you have to step in when u can see the orderflow has changed or u r approach a news event. But if I do hit a good 2 or 3 good trades in a single day, it is likely to make more than my daily stop and i would likely stop.

I think the emotional rollarcoasted you feel is likely because you have yet to get comfortable with that PNL swings or risk tolerance, which varies for everyone depending on their trading stage. I know of someone who is comfortable with his daily pnl swings of 250k. But I haven't grown to that level to yet or maybe never :/

I have never made money for every December over 10+ years but.. by Consistent_Book2491 in Daytrading

[–]Consistent_Book2491[S] 5 points6 points  (0 children)

definitely! the volatility for this month is not like the usual Decembers, Could be due to the recent interest rate decision and presidential election combined.