The Falcon Posted May 3, 2020 Author Report Share Posted May 3, 2020 Ok good. If this works, we will find out in a couple weeks. Then we can take them down. Quote Link to comment Share on other sites More sharing options...
Jimmy Hoffa Posted May 3, 2020 Report Share Posted May 3, 2020 Once you download Ameritrade's ThinkorSwim app you can flip a switch right on the log-in page to trade for real or paper money, it's very simple. With that app you can see the numbers moving and the colors changing green and red to signify up or down movements. Quote Link to comment Share on other sites More sharing options...
Teddy kgb Posted May 3, 2020 Report Share Posted May 3, 2020 Yeah I got the app but they have the screen on a 20min delay and I don’t know why... Chat doesn’t come on until 5pm est Quote Link to comment Share on other sites More sharing options...
Teddy kgb Posted May 3, 2020 Report Share Posted May 3, 2020 Sorry, you guys know I’m a newbie.....but paper money is pretend money? So they keep all the numbers for me? Just do SSI’s system and see how it plays out? If so this is great, I thought I was going to have to do all the tracking Quote Link to comment Share on other sites More sharing options...
Jimmy Hoffa Posted May 3, 2020 Report Share Posted May 3, 2020 Sorry, you guys know I’m a newbie.....but paper money is pretend money? So they keep all the numbers for me? Just do SSI’s system and see how it plays out? If so this is great, I thought I was going to have to do all the tracking Paper money is pretend money, they provide that option for the user to try new trading strategies without being wiped out if the strategies fail. Quote Link to comment Share on other sites More sharing options...
Teddy kgb Posted May 3, 2020 Report Share Posted May 3, 2020 Jimmy.....do you think the market can be beat? You know how excited I get.....am I pissing in the wind again? Quote Link to comment Share on other sites More sharing options...
The Falcon Posted May 3, 2020 Author Report Share Posted May 3, 2020 We will track it. It wont be that difficult. Once we enter a trade, we simply trail a stoploss 13pts from the market price. If we get stopped out, we enter the next trade simultaneously as we are actually trailing 2 stop orders, one to exit current trade and the other to enter the next trade. It actually is very simple and hopefully profitable, very profitable. Quote Link to comment Share on other sites More sharing options...
The Falcon Posted May 3, 2020 Author Report Share Posted May 3, 2020 Jimmy, u understand what im talking about. Trailing a stop. I use 13pts off the initial entry but almost always the risk is reduced as the market will flucuate in your favor. I never add risk, i trail it, until stopped out or profit target is reached. Quote Link to comment Share on other sites More sharing options...
Teddy kgb Posted May 3, 2020 Report Share Posted May 3, 2020 So when are we starting? I’m still reviewing but when are you giving out your step by step guide? I heard about the 40/13 theory but how do we pick the contracts? Quote Link to comment Share on other sites More sharing options...
The Falcon Posted May 3, 2020 Author Report Share Posted May 3, 2020 U mean how do we enter initially? We are going to buy (enter Long) or Sell (enter short) off a recent high or low. We will let the market open and then set it up. Once we get in, we go from there. Quote Link to comment Share on other sites More sharing options...
Jimmy Hoffa Posted May 3, 2020 Report Share Posted May 3, 2020 Jimmy.....do you think the market can be beat? You know how excited I get.....am I pissing in the wind again? I think that provided discipline is in place, the markets can be extremely lucrative. Quote Link to comment Share on other sites More sharing options...
The Falcon Posted May 3, 2020 Author Report Share Posted May 3, 2020 Ted, an automated system provides the ultimate discipline. You make no personal decisions. All we need is volatility and movement. Quote Link to comment Share on other sites More sharing options...
Teddy kgb Posted May 3, 2020 Report Share Posted May 3, 2020 if it’s all automated why do you need someone to track? Quote Link to comment Share on other sites More sharing options...
The Falcon Posted May 3, 2020 Author Report Share Posted May 3, 2020 Because i dont know if it can be set up to trail the stops and to re enter simultaneously and to recognize that when u have 3 losses in the same session that u stop for that session. Not sure all that can be animated. The auto part is the set up for each trade. You are not involved in making that decision. And if i could automate everything, i would never trust it. Id be aftaid of glitches messing things up. Hopefully u understand exactly what im doing when we begin paper trading. Quote Link to comment Share on other sites More sharing options...
The Falcon Posted May 3, 2020 Author Report Share Posted May 3, 2020 Ted this is very simple to understand, just need to learn a little terminology Quote Link to comment Share on other sites More sharing options...
Teddy kgb Posted May 3, 2020 Report Share Posted May 3, 2020 Make no mistake.....I’m pumped to learn Quote Link to comment Share on other sites More sharing options...
The Falcon Posted May 3, 2020 Author Report Share Posted May 3, 2020 Essentially you can place a bet anytime u want. Either side u want Long or Short. Market takes the other side, no vig with the exception of a small commission charge. Quote Link to comment Share on other sites More sharing options...
Teddy kgb Posted May 3, 2020 Report Share Posted May 3, 2020 Does it make sense to creat a ‘Work day’ say I’m going to start at 7am and follow screen til 7pm? Or until I gain 40 or lose 13? Can’t very well follow for 24hr Quote Link to comment Share on other sites More sharing options...
The Falcon Posted May 3, 2020 Author Report Share Posted May 3, 2020 Just follow while we are in. The 40/13 is just the initial setup. That 13 will almost always get much smaller. Lets just set it up when market starts trading in a few hours and see how it goes. Quote Link to comment Share on other sites More sharing options...
Jimmy Hoffa Posted May 3, 2020 Report Share Posted May 3, 2020 Farm reports are showing too much inventory on the hoof. Shorting live cattle, may do the same with hogs. Weather has been favorable to the orange crop and schools being closed means a lessening in demand. Looking for juice prices to fall in May. Quote Link to comment Share on other sites More sharing options...
Teddy kgb Posted May 3, 2020 Report Share Posted May 3, 2020 Hoffa.....you going to stick around for this lesson? I would feel better about laying down my hard earned cash if you did... Quote Link to comment Share on other sites More sharing options...
The Falcon Posted May 3, 2020 Author Report Share Posted May 3, 2020 Jimmy, how u playing that. Straight shorting futuresBuying PutsSelling calls What month is most active. Ive traded all those markets in the past but i only trade with technicals when i traded futures. I could never trade futures on fundamental news. I couldnt get the timing right. To use fundamental news, i would use options but thats just my thoughts. Falcon Quote Link to comment Share on other sites More sharing options...
Jimmy Hoffa Posted May 3, 2020 Report Share Posted May 3, 2020 I'm watching. In plain English... He's trying to build a trading system and needs someone to execute trades when he's not around. It's paper money so zero risk. Quote Link to comment Share on other sites More sharing options...
The Falcon Posted May 3, 2020 Author Report Share Posted May 3, 2020 Sort of right. Ive got a defined trading system, i have not used it recently and i have been out of the market a few years, as far as futures trading goes. I used to be in the convenience store business, i traded then, i had plenty of time. I sold out a few years back, now i keep myself busy with some rental property and mowing a few yards. U could call it semi retired but i cant be around all day, every day. Without sports i find myself turning back to trading. I have an emini system, id like to dust it off and give it a go again. Falcon Quote Link to comment Share on other sites More sharing options...
joeybagadonuts Posted May 3, 2020 Report Share Posted May 3, 2020 Ted if you have even a drop of common sense you’d avoid anything that has to do with touts , particularly a nut job like Falcon. This dipshit knows zero about trading TTP use to bury the Falcon like no other. I’ve always said both Falcon/ssi/Apache and wanitall both live in insane asylums. Quote Link to comment Share on other sites More sharing options...
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