Many thanks for your replies to this thread and some of my other threads. Very much appreciated.
Can you tell me please, what is ADP data? That software your using for real time news where can I get it? I like the look of it.
So your with global futures and your paying a $4.80 round trip commission all in with no monthly fee, and you started with $1200. Which platform are you using?
The thing is I contacted global futures and they want $50 per month for both global strategy trader lite or strategy runner lite. As well as $6 round turn commission all in. They will allow me to setup an account with less than a $1000. Would you say this is a good deal?
From your posts, it seems that you are placing market orders for both the buy and sell side and trading in extreme volatility periods where the tick moves 2 points. You must be trading mornings and in power hour is that right?
I've only been on a simulator so far and been on during the full market hours every day and have never seen the market move more than a few ticks at 1 time. I have seen surges where it can shoot like 2 or even 5 points but they only ever move for a split second like that and then get back within a split second to just 1 tick price change. So how is it, the market moves so much and at what times are you are trading? Do simulators not show these big moves accurately?
When you say you make 2 point profits but get 2 tick slippage, do you mean you buy at x amount and then look to make 2 point profits, using say a trailing stop market order? but then you never quite get 2 point profits and come out a 6 tick profits losing the 2 ticks in slippage, is that what your saying?
A lot of questions I know
Many thanks in advance
I get the news server with the particular trading system I use. I write about it on my blog
www.marketmovertrader.net - click on 'What is Market Mover Trading' to see what they give their members.
I think $6 commission for a round trip is high. I pay $4.80 using Global Futures' GSTrader platform, and I don't pay any monthly $50 fee, becasue they have waivered monthly fees for people using the Market Mover Trader system. $1000 is about the lowest allowable account opening balance you will find, but Global Futures require that your current income and assets are good enough to allow you to open an acount - a bit like when you apply for a loan.
I trade announcements, with both market and limit orders according to my strategy. Announcements occour usually at either 6:30 or 8:00am MDT - 1:30 or 3:00pm GMT. I don't trade outside of announcements, except for a bit of experimental stuff recently.
At these announcement times the market can jump a few points (I've seen up to 20 points before) in a single candle, often in just one or 2 seconds. I capture that movement for profit. It moves like that because the announcement either comes in much better or worse than the expected consensus. Simulators smetimes show them a little differently to the live trading platform, but not much.
With regards to slippage, in the image I posted for example, I had a pre-determined long entry point, and I limited my slippage to 2 tics with the MMT software that's built into Global's platform. In other words, if the market moved too fast to fill my order at my price, or within 2 tics of my price, then I would not get into the trade, instead of incurring so much slippage that I get filled long at the top of the price movement - which of course would be disaster. But if I had not had slippage I would have been bought in at the bottom of the movement and could have gotten 2 points profit on that particular example.
I hope that answers your questions. If not, please ask for further clarity.