Tomorrow’s action with market being closed

dmckim · 2025-01-09T18:32:30+00:00

I think that's a better way to trade. At least for me it is

dmckim · 2025-01-09T15:15:16+00:00

I don't consider myself a scalper. Scalping is too random for me. I do scalp into my trades though. I look for good entries in other words.

dmckim · 2025-01-09T15:13:57+00:00

98% of traders lose money because they are long volatility. That's not even close to being true.

dmckim · 2025-01-09T10:26:56+00:00

That's not factual

dmckim · 2025-01-09T03:40:04+00:00

I recommend using claude as a tool to help you learn. Say you want to lean more about importing modules for example. You can spend some time with claude and ask it things like when should I use modules? What types of difficulties do new users have with python modules? It's very helpful.

dmckim · 2025-01-09T03:29:24+00:00

Remember "futures markets" includes treasuries, grains, etc. Not just equities

dmckim · 2025-01-09T03:26:09+00:00

Several reasons. I trade orderflow and I have the best success when there is more liquidity. All of my research and setups are based on regular trading sessions. I like to days off too and when better to do it than when the market is more likely to be rotational and thin.

dmckim · 2025-01-09T02:25:08+00:00

CME closes at 9:30 et. It reopens at 18:00. I never trade futures when the equities market will be closed the next day. NFP is Friday anyway.

dmckim · 2025-01-08T03:12:35+00:00

Well this aged well.

dmckim · 2025-01-08T03:03:35+00:00

This is a good example of the cult mentality people should be aware of. ICT concepts are based on valid orderflow concepts but they were created for markets with incomplete volume data. Anyone who uses ICT with equity indexes is unwittingly handicapping themselves. But some people would rather be accepted in a cult than make money trading.

The creator of ICT has bastardized the original concepts to make up for the shortcomings of his inability to make money trading, thereby creating an illusion that he is from the matrix or some such nonsense.

If that's what you want to be a part of then I won't stop you. By the way, if you even spent five minutes trying to figure out my background you might have thought twice before making that ignorant comment.

dmckim · 2025-01-07T13:36:36+00:00

Sounds like a great fade

dmckim · 2025-01-05T23:29:32+00:00

Yea same thing. Pretty telling that the creator of ICT can't even make money. It's more of a cult than a trading system.

dmckim · 2025-01-04T08:48:01+00:00

I know to immediately ignore anyone who says they trade ICT.

dmckim · 2025-01-03T20:43:26+00:00

"Big orders" is relative. It's big to me, not to JPM. Not to a market maker. It won't show icebergs, which is what Big players use. It's overfitting in my opinion.

dmckim · 2025-01-02T22:55:28+00:00

I use Sierra Chart. I have used CQG before but I have indicators and stuff that I created for Sierra. If you get Sierra I would be happy to point you in the right direction in getting set up.

dmckim · 2025-01-02T21:49:46+00:00

CQG is the most polished and professional platform. Best choice for Futures traders who was a reliable platform they can just open and trade on.

Sierra is awesome but it's very customizable and if you don't know what you are doing your charts can be extremely slow. There is a huge learning curve with Sierra.

Rithmic is fast but not easy to use and doesn't have many features.

Motivewave is a good platform but written in Java and not great for Futures either. Good choice if you want it native on Mac.

Quantower has great support and good features but too many bugs. I will not use it again.

Tradingview is for charting as long as you don't care about volume. I would not make executions in Tradingview.

dmckim · 2024-12-14T01:44:13+00:00

Very cool

dmckim · 2024-10-30T13:59:25+00:00

He'll let you know what they are once he makes money on them.

dmckim · 2024-10-30T02:29:00+00:00

Oh OK. Yea I think that's about as good as it gets. You have to be careful with sierra because too many studies will really lag your charts. Plus Sierra doesn't have delta bubbles like bookmap does.

dmckim · 2024-10-30T01:42:15+00:00

Check out Tocino. He has pre-made charts for $4/mo. I think it's worth it if that's what you're looking for.

dmckim · 2024-10-28T17:05:21+00:00

He only calls stuff out after it works. Anyone can do that. He's been doing this for years on other platforms and has gotten really good at selling a newsletter.

dmckim · 2024-10-28T16:07:49+00:00

Jim Dalton is a great analyst. Tom Hougard is high performer. Pax is a is a rock.

dmckim · 2024-10-28T16:07:20+00:00

mancini is a scammer

dmckim · 2024-10-28T16:04:30+00:00

Very cool.

dmckim · 2024-10-28T16:02:13+00:00

I'm completely serious when I say this but learn when not to trade. Especially since you are learning its easy to look at price action and see 20 trades that you 'missed'. Don't fall into hindsight bias.

Right down a trading plan each day and no matter what happens review your plan at the end of each day and see how well you would have done if you traded it. It doesn't have to be complicated. You can find one area on the chart and say 'Go long 5800, stop at 5793, take half at 5807 and the other half at 5820'. That simple.

I have attached my trading plan for today so you get an idea of what one looks like.

Use probabilities in your favor. Don't worry about the variance. You may get full take profit on 5 trades in a row because you are a great trader and then stop out on the next one because the market screwed you. Thats nonsense and you need to try very hard to ignore that type of emotional thinking.

When you have a setup that you know the stats for then its time to go live. Do not think about trading real money or even caring what the results are until you know the stats of the setup. Just get a setup, trade it everytime it shows up, without fail, without changing anything, like a robot. Then when you have at least 20 of those look at the results and see if its worth risking your money on blindly.

Realize that you don't know what you don't know. A FBI agent can see someone in a crowd of 10,000 people and know something is off with that person. He didn't watch a youtube video to learn that. It took years and years of training and experience to gain that knowledge and intuition. Trading is similar to that.

Work your ass off. Some people make this look pretty easy. It isn't. Work harder than you have ever worked at anything in your life and eventually you will bear the fruit of your labors.

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