Jul 182012

I started my new consulting assignment today.  It’s for a former client and so I got to see a lot of old coworkers and meet a lot of new ones.  Like going back home (I worked for this client for several years and really enjoyed it).  Lots of challenges there so I’m really looking forward to it.

My trading in the 90min window is going well so far.  I didn’t expect great results since I’m unfamiliar with this time period, and the past few days we haven’t gotten a lot in this time period (not much continuation).  But I’m averaging 1 pt/day so that’s good.  I want to keep that up for another week or two and then do real money.  And if I can keep it up then I’ll increase size slowly.  The great thing is I have no financial or time pressure, so if this takes 1 year then that’s fine.


I’ll trade the ES RTH session tomorrow since I am unable to work due to a morning commitment.  My last day trading a ES RTH session.

I’m going to go out on a limb and say that I think we get a bit of a rally here.  We’re making higher lows and 69.50 looks vulnerable.  Sellers were not able to defend it well.

Which reminds me, my stock experiment is going well.  that could be beginner luck but if we’re going to get another rally (or continuation of our current rally depending on how you look at it), now is a good time.  So I’m looking to fund a stock account.  I’ve got it narrowed down to Interactive Brokers and Lightspeed.  I used IB in the past.  They’re acceptable but TWS was a bit cumbersome when entering orders with attached stop & targets.  I wonder if Lightspeed is better.  My main requirement is $1 minimum commission because I plan to trade very small and increase size slowly.  If anyone has any suggestions, let me know.  I might move my Velocity account to IB due to their outrageous account inactivity fees.  40 euros/month is robbery.  I’ll be on vacation in August.  After spending thousands in commissions, they want to steal 40 euros out of my account while I’m on vacation.  So I may just trade futures from IB and then I can do the stocks there too.  If everyone with a velocity account would call up and complain and threaten to close their account, they’d drop the fees.  There is power in numbers.  I encourage everyone to voice your opinion in the matter, even if you’re not personally affected.  I wasn’t affected until I decided to go part time and practice on simulator.



  3 Responses to “First day on the job and 90 min window stats”

  1. Hi Michael,
    It is good to see you are happy with your trading 🙂
    I’m learning everything from your system, even I am a newbie I will continue with your system and I am very happy with my progress. Like what you said before you need someone to trade exactly the same as your system so that we can compare stats, I hope someday I can show you something. For now I will just enjoy your post and work hard with my market replay homework.
    Have a good weekend ahead.

  2. Hey Michael,

    Is Velocity using ZenFire?

    If so that is ridculous.

    I use ZF via Mirus and the inactivity fee is US$25pm. You only need to do 5 (yes five) R/T’s a month to avoid it.

    And best yet, especially with your August vacation; there is NO inactivity fee in a given month if you do not log on to your account/ZF at all (ie you can’t do SIM either) – great if you are going on leave (only stipulation I think, is that you need a min of $500 in your account).

  3. With the blow up of MFG(lobal) and recently PFG (two FCMs within a year) it’s most important where you put your money. The big question is who’s next? Read this and see who’s at the bottom off the FCM list.

    I trade futures with IB and have no problems at all with entering orders with attached stop & targets (setup defaults: Global Configuration>Presets>Futures/Stocks). The costs are hard to beat.

    Good luck with your new assignment.

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