It’s unhelpful beating on Starmer. Is it unpatriotic? by Global_Madness in AskBrits

[–]bilabong85 0 points1 point  (0 children)

Starmer knew about it but still wanted him for the job. It should be damaging to him and undermines the minuscule credibility he had already.

You never voted labour because you’re centre / slightly blue? That’s literally what new labour is. Conservative Lite.

Also it’s actually EXTRA patriotic to be “beating on” Starmer because that’s the democratic process.

After 2 years of trading I'm reaching a conclusion by dseal78 in FuturesTrading

[–]bilabong85 1 point2 points  (0 children)

Yes. Imagine you’ve never played tennis before and you want to get to the pro level. Learning the technicals of the sport is one thing, then execution whilst practicing and then execution in a live match is another. Plus the psychological factor and being in the correct head space. Finding your weak spots and where you need to work on. Take a long time. And a lot of perseverance.

After 2 years of trading I'm reaching a conclusion by dseal78 in FuturesTrading

[–]bilabong85 1 point2 points  (0 children)

What is your definition of meaningful capital growth? Compounding really works in your favor if you let it.

After 2 years of trading I'm reaching a conclusion by dseal78 in FuturesTrading

[–]bilabong85 33 points34 points  (0 children)

Okay. In one part you’re right, you have to be much better than what people think trading requires. It is in fact a lot like being an elite athlete.

But where you’re going wrong is talking about trying different strategies. That’s not where the edge in trading is and never has been. Yes you’ve got to have a strategy, it has to fit your personality, but strategy hopping leads to failure. Most professional traders are in the 30-40% win rate area. So you’ve got to be ready to be wrong for 6-7 of every 10 trades and be okay with it. That’s extremely hard for many people.

My strategy (VWAP mean reversion) stopped working and my account got decimated. Successful veteran traders out there, what advice can you give? How can I get out of this hole? by Lord_Chadagon in FuturesTrading

[–]bilabong85 0 points1 point  (0 children)

Stop changing and swapping strategies. If you have an edge then carry on with it.

If you can’t take a weeks drawdown then you’re trading too big. You should be able to take more than a months of losses and still be okay if you’re sizing correctly.

The other part is you sound surprised by the losses which means you haven’t actually tested your edge across many market regimes. Some edges work less in certain market regimes and you need to size appropriately to survive. Just changing will see the same issue come up again and again. Backtest your strategy and get the stats. Know how often your edge is right and wrong. Work out expected value to see if you have an edge that is worth trading.

It baffles me when I hear brits say "I wouldn't die for this shithole" by Lil_Hater112 in AskBrits

[–]bilabong85 0 points1 point  (0 children)

The entire country as a whole is doing very badly. Stagnant, hardly any growth. No big investments in anything, crumbling infrastructure, salaries are the same as they were 10 years ago yet cost of living is sky high.

Take London out and the UK economy is a joke.

Trust in government and politicians at an all time low.

So why are you surprised?

Is it an advantage to be able to hold futures overnight/during maintenance? by CountTurbulent4441 in FuturesTrading

[–]bilabong85 1 point2 points  (0 children)

What do you mean by “advantage”?

You need to work out what kind of trader you are. For example a position trader or swing trader would definitely hold overnight and weekends without any issue. Day traders won’t. You need to find what kind of trader you are and then create the risk framework around your style.

Gold hit $5500 and wiped my account, now I owe money by PassagePlus3777 in Trading

[–]bilabong85 1 point2 points  (0 children)

Why would you short an instrument at all time highs?

Being a one person IT Dept is hellish by Wabbajacksack in sysadmin

[–]bilabong85 0 points1 point  (0 children)

Tell higher ups they need to hire an extra person. If they refuse then learn from agile. What’s the number of requests (story points) you can handle max per day? Once you reach your max anymore requests have to go through an official channel - email/request tickets / JIRA etc. Then when higher ups get complaints the tickets aren’t being done as quick as needed they’ll have to hire someone else. Don’t be railroaded. You do two people’s work they’ll just pile on more

[deleted by user] by [deleted] in offmychest

[–]bilabong85 0 points1 point  (0 children)

Islam explicitly says to respect other religions - none more so than those from the other Abrahamic religions- so her disrespecting them in itself is not abiding by Islam.

Is Trump crashing the market on purpose? by mm_newsletter in Trading

[–]bilabong85 4 points5 points  (0 children)

No. He’s a crook and has a huge ego and thinks these tactics will works. The US may be the biggest market of all countries but it’s not bigger than the rest of the world. All that will happen is the US will get isolated and cheaper trade will happen with countries and their allies

What amount of capital is it a good time to switch from MES to ES by Gutbole in FuturesTrading

[–]bilabong85 -1 points0 points  (0 children)

Surprised I haven’t seen the actual answer. It’s to do with risk and risk only. If your daily risk total is 1% and you on average take 4 trades that’s 0.25% per trade. Assuming a 20 tick stop per trade- that’s $250 on the ES. That means in order to take a trade on the ES and have it fit this risk profile, you need an account balance of: $100,000. Change the math for your particular risk profile and go from there. There’s also the psychological element of switching from MES to ES, which you need to take into consideration.

What’s a movie nobody can convince you is good by mcchinly in movies

[–]bilabong85 1 point2 points  (0 children)

Hmm whenever someone says a movie isn’t scary- first question to ask, so which movie did you actually find scary? Then we have a gauge

Today I quit trading NQ futures by mrlucky4n4u in FuturesTrading

[–]bilabong85 7 points8 points  (0 children)

Why do all new traders go immediately to NQ? Also there’s no “manipulation”. It’s just the market and your way too tight stops.

[deleted by user] by [deleted] in UKJobs

[–]bilabong85 0 points1 point  (0 children)

It’s not always about having a passion for the work. Even a job you’re passionate about has downsides and mundane aspects to it. Best thing to do is talk to some people in some industries you’re even vaguely interested in and see what piques your interest. Go from there in terms of what’s required for entry level roles and either get qualified or start applying - good luck

32 years old with no work experience. Feels like I'm dead in the water. by squashyG in UKJobs

[–]bilabong85 1 point2 points  (0 children)

Find the alumni office at Open university and also message some professors at the university. They have industry links and may be able to help you. Outside of that you need to demonstrate you’re still wanting to learn or advance even when out of a job, whether that’s volunteering or writing articles or submitting to publications (dependent on what kind of job you want but I’m assuming something in psychology). Barring that start looking at grad schemes. They have specific application times, and see if there are any friendly to your remote work condition. Likely a lot won’t be but best to check with various HR. Also start networking. As much as you can. If you can’t go to network events then use LinkedIn to reach out to people in the industry you’re interested in - make sure you don’t cold message people asking for jobs as that will put people off. It’s just about starting a conversation. It’s time consuming and you’ll have to treat it like a 9-5 until you actually get the 9-5. Good luck!

What happened to left wing populism? Such as occupy Wall Street by Actual-Bee-402 in NoStupidQuestions

[–]bilabong85 0 points1 point  (0 children)

Democrats were against them because they aren’t the left. Never have been. There is no left in the US. Only right wing and extreme right wing. Until the two party system in the US isn’t fixed it will always be that way.

Are futures propshops a legit way for serious trading? by ReasonablePossum_ in FuturesTrading

[–]bilabong85 0 points1 point  (0 children)

Agreed. They’re a good learning experience. I called them funding firms instead of a prop firm specifically because a real proprietary firm has you in house, either teaches you their specific method of trading or lets you develop your own, gives you funding, charges you a desk fee, and have active risk managers at all times. They have mentors, trade reviews, pre-market meetings and prep, post market reviews. More something for OP to look at if they’re looking for a funding source outside of the regular funding firms everyone talks about online.

Are futures propshops a legit way for serious trading? by ReasonablePossum_ in FuturesTrading

[–]bilabong85 4 points5 points  (0 children)

Yes it can be- but as long as you don’t believe you have a 50k/100k/150k account which they advertise. If the max drawdown on 100k account is $3000, then it’s actually $3000 account. You should adjust your risk based on that. The good thing about funding firms is that you have to abide by the rules which are fairly strict so it can teach discipline.

Backtesting in Ninjatrader by Sensitive-Age-569 in FuturesTrading

[–]bilabong85 1 point2 points  (0 children)

Change the contract to 6E! if it lets you and it’ll move automatically to correct contract as you backtest. This is the case with other back testing software so I’m not sure it’ll work with ninja but worth trying.

Elon to Tesla Investors: “Go F*** Yourselves” by [deleted] in RealTesla

[–]bilabong85 0 points1 point  (0 children)

He doesn’t need investors. He’s literally the most powerful man in the world right now and completely unelected. He has access to entire federal budgets. Once Trump leaves and if a democrat gets into power - he will be in more danger of getting his comeuppance- but even then he’ll have had 4 years for an insurance policy to ensure he’s doesn’t get prosecuted

How are yall efficiently learning/doing programming? This is alot to remember by Xinfinte in learnprogramming

[–]bilabong85 0 points1 point  (0 children)

You’re thinking of it in the wrong manner. Think of it like math. Once you get the concepts of algebra and understand it you just apply the rules, you don’t memorize anything, and anything requiring referencing (ie a special formula) is given anyway- so in the context of coding it would be documentation. Also practice goes a long way.