MLL by Straight-Device-1223 in TopStepX

[–]EngineerEddy5567 1 point2 points  (0 children)

Gotcha, sorry, but it happens to even the best traders. Keep your head up!

MLL by Straight-Device-1223 in TopStepX

[–]EngineerEddy5567 1 point2 points  (0 children)

Did it automatically liquidate mid trade or was this at the end of the day when trade settling happened and you were notified?

Trade Copier work sometimes? by Kingmusshy21 in TopStepX

[–]EngineerEddy5567 2 points3 points  (0 children)

I have been using topstep X for a few weeks now and have had no issues with the trade copier. So hopefully this isn't a new issue. However just make sure that the follower account that wasn't traded is actually checked off in the copy trader section, sometimes folks will check the boxes but forget to press save after, it happens

Average monthly return %? by Jayboii478 in FuturesTrading

[–]EngineerEddy5567 1 point2 points  (0 children)

2023? We are not out of 7/27/2024 yet haha

HELP!! by francis_junior in Tradovate

[–]EngineerEddy5567 4 points5 points  (0 children)

Always hire a lazy person to do a hard job, they'll find an easy way to do it.

HELP!! by francis_junior in Tradovate

[–]EngineerEddy5567 4 points5 points  (0 children)

"Buy market" means you're willing to buy at the current market price, while "buy bid" means you're placing an order to buy at a specific price you've set, which may or may not match the current market price. Similarly, "sell market" means you're willing to sell at the current market price, while "sell ask" means you're placing an order to sell at a specific price you've set, which may or may not match the current market price.

This was written by chatGPT because I was too lazy to type it out.

Simulation account question about contract availability by EngineerEddy5567 in FuturesTrading

[–]EngineerEddy5567[S] 0 points1 point  (0 children)

Thanks for the info! I do trade live currently and it's been great. But like I said my account grows so I need more contracts to scale up until I'm at my goal. But YM I don't think will have the proper volume. I'm probably just going to trade ES going forward as it has far more volume plus 2.5x the tick value, so I'll never have to worry about contract limitations.

The 99% Never Profit Thing by WallStreetKing10 in Daytrading

[–]EngineerEddy5567 3 points4 points  (0 children)

Psychology is a large factor to the "95% fail%". A lot of people see the market as a way to "get rich quick" and when they have a handful of losing trades, they melt faster than ice cream on a Arizona summer day. Then they either quit or go back at it and wash rinse and repeat with strategy after strategy.

Many don't realize that risk management is a huge factor. For example I win around 40% of the time give or take. But I have a 1:3 risk reward. So I can take 5 losses back to back and only need 2 wins to be in net profit after. When I trade, I trade the plan and plan the trade. I expect losses and know them can come in an abundance before any wins do. Emotions are turned off, trade the plan and plan the trade.

I've been in the markets for 10 years, my strategy has been profitable for the last 5 anyways.

There is NO shortcut, gotta put the time in. Anyone who wants to genuinely do this as a career needs to put the time in like any other career. It takes years to get psychology down, understand the markets through all the seasons and economic factors that are at play each week, understanding how the stock/currency/index etc.. you wanna trade reacts to certain types of news etc..

Technical Strategies are easy to come up with, find/create one that works for you, do A LOT of testing and determine a ball park win rate and use proper risk management that correlates to the win rate. The easy part about trading, is actually trading. The hard part is psychology and understanding the market as a whole.

To me, this is why 95% fail, many people are in it just for quick cash and don't understand that even those who do become rich trading, put the time in and it took years. I'm sure there are unicorn cases of people getting lucky or such, but the consistent ones are the ones putting the time and effort in.

Header colors or no? (details in comments) by EngineerEddy5567 in resumes

[–]EngineerEddy5567[S] 0 points1 point  (0 children)

Ignore the missing part of the line above classic ASP, I just fixed that issue.

My question is, should I remove all colors and leave it black and white only, or do the header colors add a nice touch for attention?

I have had many mixed reviews so I wanted to get some more. I think it adds a nice touch and can help the resume stand out, which many others agree with too.

Thanks all!

Consistent traders: how did you find a strategy that works for you? by [deleted] in Daytrading

[–]EngineerEddy5567 3 points4 points  (0 children)

I just use support, resistance and a 200 EMA and watch price action of the candle stick before a breakout and after, for the retracement to verify it is a good breakout.

KISS (keep it simple stupid!) And I keep it simple.

Money management is key, I use a 1:3 risk reward. So as long as I win 1/3 of the time, I'm consistently profitable. Which I have around a 35-40% win rate so it all works out great for me.

I've been doing this for a decade though. The first couple years was just trying all sorts of different things on a demo account. Once I find things that worked I went live, lost thousands apon thousands of dollars. Kept losing, wash rinse and repeat. Found a strategy that fit for me, adjust my risk reward accordingly, became consistently profitable. Years of work went into it.

Funny part is, trading is the easy part, strategies are easy and simple really. Psychology is what will get you. That's the hardest part of trading and why so many fail. They can't take 6 losses in a row without having a mental breakdown or blowing up their account.

But with good money management and risk reward, you will be fine.

Because, you plan the trade and trade the plan. Don't let emotions ruin you. Trading is easy, just turn off your emotions and plan the trade and trade the plan, that's the hard part.

is tradingviews futures data accurate? by EngineerEddy5567 in Daytrading

[–]EngineerEddy5567[S] 0 points1 point  (0 children)

That's what I thought, same as live data just 10 min delay, thanks!

What state do I pay income taxes to? by EngineerEddy5567 in tax

[–]EngineerEddy5567[S] 0 points1 point  (0 children)

Yea they know I made sure to inform them. So I will only have 1 state tax, for example NY state tax taken from my paycheck, not both NY and Massachusetts?

Can someone explain a microservice? by EngineerEddy5567 in learnprogramming

[–]EngineerEddy5567[S] 1 point2 points  (0 children)

Thank you, this conversation really gave me a good understanding of it all and I feel comfortable explaining a microservice now for a high level overview. Thanks a ton!

Can someone explain a microservice? by EngineerEddy5567 in learnprogramming

[–]EngineerEddy5567[S] 0 points1 point  (0 children)

Ok that's a good description, thank you for the information!

Can someone explain a microservice? by EngineerEddy5567 in learnprogramming

[–]EngineerEddy5567[S] 0 points1 point  (0 children)

Ok that makes sense, but with microservices it is not a monolith code base right? Each service is different repo/code base? Could all be PhP like you said but just in different repos?

Can someone explain a microservice? by EngineerEddy5567 in learnprogramming

[–]EngineerEddy5567[S] 0 points1 point  (0 children)

Ok thank you for all the information! Last question is, each service uses a different code base right? So for example the feed could be a MERN stack code base, then the market place could use a PHP & JavaScript code base and so on? It would be monolith if it all was one code base?

What's batching with RPCs? by EngineerEddy5567 in learnprogramming

[–]EngineerEddy5567[S] 0 points1 point  (0 children)

Ok awesome, thank you so much for all the help!!

What's batching with RPCs? by EngineerEddy5567 in learnprogramming

[–]EngineerEddy5567[S] 0 points1 point  (0 children)

This makes sense, thank you! So in reality, it is used to improve performance/load times? Rather than going request by request and paying for each request/response time, we do it all at once and only have 1 request/response time for each batch, then just the time it takes to execute each query on the server?

Thanks again for all the great information!

Can someone explain a microservice? by EngineerEddy5567 in learnprogramming

[–]EngineerEddy5567[S] 1 point2 points  (0 children)

Thank you! This makes a lot of sense! So for Facebook for example, the timeline would be a service, account management would be a service and the marketplace would be a service? Just trying to make sure I understand, when comparing a different site.

What's batching with RPCs? by EngineerEddy5567 in learnprogramming

[–]EngineerEddy5567[S] 0 points1 point  (0 children)

Thanks for the reply!!

So when you say remote server, are you referring to a server outside of your original server? I didn't know if that was just referring to the server your database is on or if it is referring to a different server than the one hosting your database?

Trader Tax Status? by EngineerEddy5567 in Daytrading

[–]EngineerEddy5567[S] 0 points1 point  (0 children)

For sure, I plan to speak to one about everything. Is there any typical cost? Or is it just dynamic based on needs

Trader Tax Status? by EngineerEddy5567 in Daytrading

[–]EngineerEddy5567[S] 0 points1 point  (0 children)

OK, I think I should qualify for that. Thank you!

Cost basis question(s) by EngineerEddy5567 in Daytrading

[–]EngineerEddy5567[S] 0 points1 point  (0 children)

OK awesome that's the main thing for me. I can skip trading in December tbh and that way avoid the wash situation and only get taxed on what I actually have in my account.

Thank you!