a few people have asked some things about trading commodities. i can answer alot of questions that you may have and if i cant, i can have them answered for you.
i have traded commodities since 1996, off and on, both with some success and some failurs, like most things.
commodity trading is a world that is a lot like gambling and im sure many of you would fall in love with it, if you knew about this, maybe its a good thing that you dont.
but on with the story and ill try and not ramble.
as i was saying, i can answer most questions, as i have traded (cattle, hogs, cotton, orange juice, cocoa, sugar, soybeans, soybean oil, soybean meal, corn, wheat, gold, silver and the dow, nasdaq and finally the emini sp).
however for the last 2 years, i have traded almost exclusively the emini sp 500 and for the past 8 months, i have traded it pretty heavily, averaging from 5-20 trades per week, depending on my system. i trade from a 100% mechanical system and in this thread, ill be glad to lay out the trades and discuss the system.
just last thursday i began to teach my cousin how to trade this market, so ill begin with the last 3 trades and just pick up from there.
i trade and have since 1996 at (redlands futures and options), they clear thru the big firm of (rj obrien and associates)... i have used the same broker for all those years, almost exclusively, his name is Nick Kioussis, phone number (1-888-550-6339)... if you call it, tell him Stinger sent you and he will right away know what your talking about, as he knows all of my trades and what i am doing.
that is why i use a fulltime broker, who charges $25rt, i dont have to be tied to the computer all the time.
let me quickly give you a little more info about the market.
Emini SP 500 (ES), is the market i trade. It trades almost around the clock. From 6:30 pm cst sunday evening, until 3:15 pm cst friday afternoon..... It close daily from 3:15 to 3:30 (mon-fri) at this time each days numbers are settled and at the bottom of the hour (3:30) the next day begins. so mondays trading for me, esssentially begins in 3 hours and i do have an order working but do not currently hold a position (more on that later).
In the emini, each point is worth $50 and the market trades in quarter point increments... example (822.50)(822.75)(823.00)(823.25) you get the idea, from 822 to 823 is 1pt and is worth $50..... You can either BUY (go Long) or SELL (go short) first. you do not buy and hold. If you think the market is going higher then you BUY, if you think its going lower then you SELL first. Once you enter, i always place a "stoploss" order for protection, so yes you limit your losses and if your order is hit, you are automatically taken out of the market. I also, upon entry, place my Profit Target and if its hit, then im automatically cashed out of the market, no questions asked.
Basically you open a trading account, begin trading and collect your profits with a check, whenever you like. The Overnight Margin for the emini is $5000 but as ill get into later, there are many ways to beat this margin, i do it all the time, if im trading multiple contracts (more on that later).... However i can daytrade with very little, as long as i have stops in place that limit my losses. Of course im given a little free reign at my brokerage house as ive been a client for almost 13yrs.
Let me start with my last 3 trades and pick up from there, with the next few trades or as long as anyone is interested in discussing this.
1. 1/30/09: Sold 1 ESH09 at 858.00, took profits at 843.00 on a preset profit target. profit of 15pts in a few hours (+$750)
2. 1/31/09: Long 1 ESH09 at 846.00, took a loss at 835.00 on a preset stoploss order, for a loss of 11pts (-$550).
3. 1/31/09: Short 1 ESH09 at 835.00, took profits at 820.00 a couple of hours later, for a profit of 15pts or (+$750)
so as you can see, i had 3 trades on thursday and friday combined for a profit of 19pts (+$950) -3 comm of $25 each.
i currently am not in the market but i have a GTC (good til canceled) order working to BUY 1 ESH09 at 830.50.......... this is called a BUYSTOP and if the market trades up to this point, i will automatically enter the market with this preset order. the market currently sits at 822.50, so it needs to rally in order for me to enter.
more later on what type of system i use and why my Orders are done in this manner.
any questions, ill get them ASAP as ill be in and out of this thread. ill discuss the movements in the market and when possible, ill be doing LIVE TRADING in this thread...
remember, market opens in 3 hours. who needs the SuperBowl.
SSI
i have traded commodities since 1996, off and on, both with some success and some failurs, like most things.
commodity trading is a world that is a lot like gambling and im sure many of you would fall in love with it, if you knew about this, maybe its a good thing that you dont.
but on with the story and ill try and not ramble.
as i was saying, i can answer most questions, as i have traded (cattle, hogs, cotton, orange juice, cocoa, sugar, soybeans, soybean oil, soybean meal, corn, wheat, gold, silver and the dow, nasdaq and finally the emini sp).
however for the last 2 years, i have traded almost exclusively the emini sp 500 and for the past 8 months, i have traded it pretty heavily, averaging from 5-20 trades per week, depending on my system. i trade from a 100% mechanical system and in this thread, ill be glad to lay out the trades and discuss the system.
just last thursday i began to teach my cousin how to trade this market, so ill begin with the last 3 trades and just pick up from there.
i trade and have since 1996 at (redlands futures and options), they clear thru the big firm of (rj obrien and associates)... i have used the same broker for all those years, almost exclusively, his name is Nick Kioussis, phone number (1-888-550-6339)... if you call it, tell him Stinger sent you and he will right away know what your talking about, as he knows all of my trades and what i am doing.
that is why i use a fulltime broker, who charges $25rt, i dont have to be tied to the computer all the time.
let me quickly give you a little more info about the market.
Emini SP 500 (ES), is the market i trade. It trades almost around the clock. From 6:30 pm cst sunday evening, until 3:15 pm cst friday afternoon..... It close daily from 3:15 to 3:30 (mon-fri) at this time each days numbers are settled and at the bottom of the hour (3:30) the next day begins. so mondays trading for me, esssentially begins in 3 hours and i do have an order working but do not currently hold a position (more on that later).
In the emini, each point is worth $50 and the market trades in quarter point increments... example (822.50)(822.75)(823.00)(823.25) you get the idea, from 822 to 823 is 1pt and is worth $50..... You can either BUY (go Long) or SELL (go short) first. you do not buy and hold. If you think the market is going higher then you BUY, if you think its going lower then you SELL first. Once you enter, i always place a "stoploss" order for protection, so yes you limit your losses and if your order is hit, you are automatically taken out of the market. I also, upon entry, place my Profit Target and if its hit, then im automatically cashed out of the market, no questions asked.
Basically you open a trading account, begin trading and collect your profits with a check, whenever you like. The Overnight Margin for the emini is $5000 but as ill get into later, there are many ways to beat this margin, i do it all the time, if im trading multiple contracts (more on that later).... However i can daytrade with very little, as long as i have stops in place that limit my losses. Of course im given a little free reign at my brokerage house as ive been a client for almost 13yrs.
Let me start with my last 3 trades and pick up from there, with the next few trades or as long as anyone is interested in discussing this.
1. 1/30/09: Sold 1 ESH09 at 858.00, took profits at 843.00 on a preset profit target. profit of 15pts in a few hours (+$750)
2. 1/31/09: Long 1 ESH09 at 846.00, took a loss at 835.00 on a preset stoploss order, for a loss of 11pts (-$550).
3. 1/31/09: Short 1 ESH09 at 835.00, took profits at 820.00 a couple of hours later, for a profit of 15pts or (+$750)
so as you can see, i had 3 trades on thursday and friday combined for a profit of 19pts (+$950) -3 comm of $25 each.
i currently am not in the market but i have a GTC (good til canceled) order working to BUY 1 ESH09 at 830.50.......... this is called a BUYSTOP and if the market trades up to this point, i will automatically enter the market with this preset order. the market currently sits at 822.50, so it needs to rally in order for me to enter.
more later on what type of system i use and why my Orders are done in this manner.
any questions, ill get them ASAP as ill be in and out of this thread. ill discuss the movements in the market and when possible, ill be doing LIVE TRADING in this thread...
remember, market opens in 3 hours. who needs the SuperBowl.
SSI
