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 Is there a better way of doing futures using RVFM? 
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Joined: Sat Dec 25, 2004 4:07 pm
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Post Is there a better way of doing futures using RVFM?
OK, I've been chained to the day job, abandoned my "adventure", and haven't been spending ANY time on the RV muscle. I've come up for air and am spending a lovely Sunday afternoon on the deck doing a little low-pressure surfing (eating some ice cream with a shot of Kahlua over the top).

I'm still rather disappointed at the volume of traffic in this forum. There's GOT to be more folks either attempting or currently executing on RVFM than is shown by posting on this forum.

kocmodpom wrote:
... futures give you the best bang for your buck not having to wait for significant moves in options or underlying assets. Buy and hold strategy on anything will not create the capital accumulation you need fast enough...


WIth regard to RVFM, I completely concur with this observation. "Futures", for me, used to be an unfamiliar, frightening, and freaky area of trading until I got the RVFM DVD and started conversing in this forum. Since then, I've come to find the S&P 500 E-Mini Futures to be relatively easy (almost TOO easy), familiar, and comfortable area for trading.

I have been recommending to others in my investing group and newbies to trading that spending some days day-trading (read PAPER-TRADING) the S&P 500 E-Mini Futures will vastly improve one's ability in the way of technical analysis and recognizing price-patterns, even if one's goal is just to be a good daily trader. You get way more experience in a short period of time recognizing changing market conditions playing the hard right edge all of the time.

While not running my RV cues daily, what I HAVE been doing is running the S&P 500 E-Mini Futures on the fourth virtual desktop during my workday. I've discovered a few things about the Futures market, particularly about this market:

1) Enough volatility in any given day to make money
2) Enough regularity in the patterns to recognize good entry and exit points
3) That judging a day as JUST LONG or JUST SHORT is probably not optimal.

I have had more than one profitable day now where I have made money on BOTH the LONG and SHORT side of the market, sometimes both in the morning or both in the afternoon, where the LONG and SHORT produced almost identical returns (read: identical enough that "most profitable" doesn't really have meaning).

So the question becomes is there a more involved cueing process that can produce better results than what I'd experienced already?

Back to the Kahlua and ice cream...

Oh, and before I forget... learned a new trick on http://www.thinkorswim.com... visual trading:

Image

This is a One-Cancels-Other (OCO) order with a limit entry and a chained stop and limit exit order establishing the forecast range.

Maybe I'm just betraying myself as an old fart, but this is very kuel. Orders can be entered directly from the ThinkChart tool, and stops and limits can be managed after the trade has been entered by manipulating the visual handles. Very handy for day-trading...

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The problem with the future is that there are so many to choose from. http://somanyfutures.blogspot.com/
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Sun Jun 07, 2009 8:46 pm
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Post Re: Is there a better way of doing futures using RVFM?
Wow, these reflections are as topical today as they were the day they were made. It seems like a lifetime ago when I was exclusively day trading ES. I could write a book on what I have learned since the 2007 FM workshop.

As a typical scientific researcher, I have bounced around many asset classes, trading methodologies, and time frames. As soon as one experiment was statistically repeatable I moved on to the next rather than paddling in the kitty pool. I haven't drowned yet as I have managed to keep my head above water most of the time.

Probably my biggest evolution was to quit using the free stuff (and the general idiocy associated with MT4 ) and plunked down a large amount of money on a professional trading platform that I can program my own custom strategies (i.e. NinjaTrader). I still trade spot FX, but there are so many great advantages in utilizing FX Futures, deriving from real volume numbers, as well as access to COT, and put-call ratio information. You just can't get that on spot!


The best is always and forever yet to come.

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Fri Jan 27, 2012 8:13 pm
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