Friday, November 28, 2014

Why e-mini futures day trading rooms are not your best option

I talked about e-mini futures online day trading rooms not long ago. On my site dedicated primarily to (you guessed it!) day trading e-mini futures. Where else could that be, anyway?

Certainly not on some trading forum. Those are mainly for losers, repetitive losers, committed losers, morons, shills, and other more or less useful tools for those skillful enough to manipulate them (see the Trading Loonies blog for a comprehensive picture of that), exceptions to the contrary notwithstanding. My trading forum will be such an exception, of course, or so I definitely hope.

I was not particularly kind on those rooms in that article, and I don't intend to apologize for it any time soon. On the contrary, for in this post I want to give you just one more example of why online day trading rooms, especially those that focus on trading highly leveraged financial instruments such as futures or Forex, are not the best way to make money trading.

Not the most effective way. Frankly, even pretty lousy, from the perspective of anyone who can trade well.

Check out the screenshot below. It is really a Twitter post embedded and you can find many of those on this blog. It shows my trading results on a normally glorious day of November 19th that really was not looking too glorious at all at some point to me. I got hit by Mr. Market, a heavy fellow of sorts. When he hits you, you do feel it.

While I still managed to do well on that day, I cannot possibly imagine doing that well during a sudden market surge that caused my losses if I were trading in some Internet trading room. I would probably just took a loss and that might have been it for the rest of the day.

But I did not do that. Nor do I ever have to. That's because my trading style is much more flexible, much more agile, much more creative than what you can expect to see in a typical trading room.

Creativity is a pretty important aspect of discretionary trading, rather rarely talked about, though. Discretionary trading boils down to solving little trading problems in real time. While some solutions are easy (by the book), some might have never been tried before. I mention this creative aspect of trading in my latest article just posted on my site in the KING section of it.

Most trading rooms are really for suckers.

Smart people capable of trading recognize this rather quickly and move on to greener pastures, suckers and perennial losers stay on and either make a pittance or lose money over the time, then quit, always too late, only to move to yet another trading room in order to perpetuate their misery.

Monday, November 24, 2014

And a reversal it was ...

Just as I said on Twitter. Here is exactly what I said, shortly after my last trade today, which was entered right at the very bottom of the last market leg, the down leg, to be specific.

Now, let's see this from some perspective, as offered by the picture below, which shows a 5-minute chart of Sierra Chart of the e-mini futures market that I like to trade, YM, the e-mini market of Dow Jones futures.

A picture is worth a thousands words, as they say. This is certainly true in this case.

I don't trade reversals, but I probably could employing the e-mini day trading methodology that I use and have been for over 6 years. So could you. It is still available on my site as a foundation of a very comprehensive e-mini futures day trading course called KING. It will probably not be after 2015, and its price is not going down either. On the contrary, it's bound to go up soon. Smart people are buying now ...

Sunday, November 16, 2014

Speaking of 666 - again

While it may have some dubious reputation in certain quarters, 666, known also as the number of the beast among those who might fear it, has quite a number of cool properties that can get a devout numerologist (and I use this term somewhat loosely here) drool for hours.

I do not know how the propensity for drooling over the properties of the number 666 is called in Greek, but it has to have some name in that language so perfect for naming all quirks, phobias and other mal- and even adaptations of ours or else the Greeks have overlooked something quite important. 

Sure, this may not be as painful as a wardrobe malfunction in front of the thousands of your fans, but since it can last for hours, it can be equally serious.

Speaking of being serious, I am not talking about 666 only because I have just recently posted the 666th daily trading results report on my e-mini futures website, the results being due to KING, an e-mini futures day trading course, but also, if not primarily, because I am a big fan of numbers and their properties, as you would probably expect from a guy with a background in theoretical physics, that may also be referred to as mathematical physics, and sometimes these two terms are simply used interchangeably. 

I thought about doing it here, because I really hate having a separate blog for all my more or less random thoughts, so I might as well dump them here from time to time, as long as they are at least remotely related to what this blog is mainly about. In case you have some doubts about it, it is still mainly about trading e-mini futures markets. 

Trading, it just happens, requires all kinds of skills, such as being good with numbers and stuff, which is what some overlook, much to their later despair. You may never get hired as a prop trader if you have been found to be averse to analytical thinking. At least, not in a serious trading firm.

But then I did a bit of research and have found out that plenty of web space has already been devoted to 666 and decided to just drop here a few better references. Of course, there is a Wikipedia page dedicated to 666, and to pretty much any other number out there, so that hardly does justice to the awesomeness of 666. This page is here

But fortunately, there is also this page, by Mike Keith, a discoverer of some cool and rare numbers of Fibonacci-like properties, known, deservingly enough, as Keith numbers. As you see, even in this day and age, you can still discover some cool numbers, though, I am afraid, they are most likely to involve properties mathematicians have know of for centuries, as is the case with the property of belonging to the Fibonacci  sequence: F(n)=F(n-1)+F(n-2).

Fibonacci was not the first one to study the sequence now commonly known after his name. Indian mathematicians had known of this sequence centuries before him, but he was quite instrumental of making the Hindu-Arabic system of numerical notation popular in Europe in his day (ca 13th century AD), which was certainly of tremendous impact, totally eclipsing the impact of the sequence he is mainly known for.

The Fibonacci numbers tend to be worshiped quite a bit among some traders, usually those with a predilection for blowing their trading accounts or being stupid in general. That does not mean yet that there is something wrong with Fibonacci numbers. Not at all. They are cool as cucumbers and should be used just as cucumbers are: for delectation and not for some other misguided purposes.

Speaking of the Fibonacci numbers and number 666, it turns out that they are somehow related. How cool is that!? They are related through the Golden Ratio, another number trading morons love to abuse, but which is still lovely in its own right. The number, not the abuse of it. Mike Keith mentions this fact in his splendid article. Let me quote him here by cutting and pasting an image from the relevant part of the article.

There are many other properties of this number (such as those related to triangular numbers and 666 is one of those) listed in Mike Keith's article and you are kindly advised to check it out, just to see how cool numbers can be and not only because I have recently used one of such cool numbers on my site, in its current trading results section.

Saturday, November 08, 2014

666 - yet another another milestone in e-mini trading results

That's 666 daily e-mini futures trading results updates. Posted on my site, in its KING section. More precisely, in that part of it that collects the trading results.

These days, they are almost exclusively in YM, the Dow Jones e-mini futures market, but you can find some (older ones) in ES, and even a few examples (very few) in NQ.

I started posting them about in late October/early November 2008, so that's 6 years ago. Six years later, I can claim that I have posted about 110 daily updates a year, on average.

Not many e-mini day trading sites out there can boast of something like that, not many such sites even particularly care about posting trading results. Don't ask me why. I suspect I know why, but let me stay classy.

They are not very shy about making promises about what you can accomplish with their trading methods, though, so it's pretty natural to expect some sort of evidence to back those promises up, right?

Well, no such good luck. I talk a bit about it in this article on my site.

Will I reach 700? I somewhat doubt it. But I doubted reaching 600 and 650, so the correct answer, I guess, is "you never know."

In any case, what follows (embedded below) is the final Twitter trading results update on November 7th, 2014, the day of the 666th daily e-mini trading results post on my site.

Saturday, November 01, 2014

KING e-mini futures trading forum is ready to accept its first members

The wait is over.

If you are KING owner, your e-mail inbox has just received an invitation to this awesome trading forum dedicated primarily to day trading e-mini futures, based on a very cool, novel platform.

We are starting our trading education with a 12 week long tutoring session, to begin on November 10th.

To join the forum, follow the directions in the e-mail you received. Hope to see you inside.