Difference between amateurs and professionals

[foroom lluzers]

What has a pro like you got against wheat ? It's a huge market. Hard to manipulate and easy to trade.

Just cause you eat bread and wheat products , you don't have to marry an instrument.You should only trade , if it is a high probability trade.It seems you went short and added multiple shorts , instead of going long.

 

[EnlightenedJoe]

Just cause you eat bread and wheat products , you don't have to marry an instrument.You should only trade , if it is a high probability trade.It seems you went short and added multiple shorts , instead of going long.

When it comes to wheat, I am short only. When the price go higher, it's only a drawdown. I don't believe in up trend in wheat.

 

[EnlightenedJoe]

Here's my auto trader pup continues to chase the big bad wheat merchant. It will chase them to the end of earth.

Orange lines are orders, green lines are take-profits, and triangles are short positions.

 

[darktone]

Here's my auto trader pup continues to chase the big bad wheat merchant. It will chase them to the end of earth.

Orange lines are orders, green lines are take-profits, and triangles are short positions.

Are those orders filled orders or stop entry orders?

 

[EnlightenedJoe]

Are those orders filled orders or stop entry orders?

Stop your g*y sig.

All my auto trader orders are markets orders, kill-or-fill with slippage limits. More often than not they are filled. If not they get 2nd or 3rd chance as the trader will refill the gap opened up by failed orders.

The purpose of the orders is to chase the price and not to be filled. I won't complain if they are filled. I want a position. Taking on a small amount at the wrong price is no big deal.

 

[darktone]

Stop your g*y sig.

All my auto trader orders are markets orders, kill-or-fill with slippage limits. More often than not they are filled. If not they get 2nd or 3rd chance as the trader will refill the gap opened up by failed orders.

The purpose of the orders is to chase the price and not to be filled. I won't complain if they are filled. I want a position. Taking on a small amount at the wrong price is no big deal.

I thought you used limit orders. Is this the main reason you dont normally have anything on at the top?

 

[foroom lluzers]

Stop your g*y sig.

All my auto trader orders are markets orders, kill-or-fill with slippage limits. More often than not they are filled. If not they get 2nd or 3rd chance as the trader will refill the gap opened up by failed orders.

The purpose of the orders is to chase the price and not to be filled. I won't complain if they are filled. I want a position. Taking on a small amount at the wrong price is no big deal.

Is he taking a small size ?

 

[EnlightenedJoe]

I thought you used limit orders. Is this the main reason you dont normally have anything on at the top?

I don't even know what limit orders are. When I want something, I just use market orders. My shop allows me to specify the range of price acceptable for the order. That's the only limit I have for auto trading. For manual trading I have no limits on anything. When I want something I get it at any price.

Nothing on the top is either because I didn't want more size or I have taken profit. I have plenty of trades with the top completely filled. You just haven't seen them yet.

 

[darktone]

I don't even know what limit orders are. When I want something, I just use market orders. My shop allows me to specify the range of price acceptable for the order. That's the only limit I have for auto trading. For manual trading I have no limits on anything. When I want something I get it at any price.

Nothing on the top is either because I didn't want more size or I have taken profit. I have plenty of trades with the top completely filled. You just haven't seen them yet.

If you're waiting on the down tick to sell at market, you won't be scoring best prices.

 

[EnlightenedJoe]

Is he taking a small size ?

Yes, small size. But since I like wheat, the size is bigger than the normal small size.

 

[EnlightenedJoe]

If you're waiting on the down tick to sell at market, you won't be scoring best prices.

Like I said, the market orders are fixed in the range acceptable. Outside the range, the orders are simply cancelled. When the price returns to the correct range, the cancelled orders are reinstated.

On average, all orders are filled with a fair price. Since I go for bigger wins, a few ticks here or there being at a bad price doesn't concern me. Cost of "doing business" has no perceivable effect on the trade outcome.

If you need to be concerned about a few ticks, you are doing it wrong.

 

[darktone]

Thank you joe for helping to highlight the differences between pros and amateurs

 

[foroom lluzers]

Thank you joe for helping to highlight the differences between pros and amateurs

How many mistakes do you make?I know them!

 

[brewski1984]

The amount of mistakes I make is an inverse correlation to the amount of youtube videos I watch

 

[EnlightenedJoe]

Thank you joe for helping to highlight the differences between pros and amateurs

Don't mention it. I am always happy to give amateurs an occasional pointer to set them in the right direction.

The difference is that pro's control markets while amateurs are controlled by markets.

Here's a bit of market control just in time. If they don't go in the direction I want them to go, they have to pay me:

 

[darktone]

Don't mention it. I am always happy to give amateurs an occasional pointer to set them in the right direction.

The difference is that pro's control markets while amateurs are controlled by markets.

Here's a bit of market control just in time. If they don't go in the direction I want them to go, they have to pay me:

You know I personally would be at a loss if it weren't for folks like you coming on T2W. There wouldn't be much reason to be here otherwise

 

[Dowser]

Looking at these charts, I was suddenly taken back to my childhood!

 

[brewski1984]

I still have a spectrum lying around in the loft somewhere, plus I've got a commodore 64 that I set up the other day

 

[EnlightenedJoe]

I still have a spectrum lying around in the loft somewhere, plus I've got a commodore 64 that I set up the other day

Should hold them until win. One day they will be worth something then you have more cash for the bucketshop.

 

[Dowser]

£300 new in the early 80's