Official MeetUp Trading Contest Results

Below is an email from Trent of Global Futures, the co-sponsor of last month's Futures Paper Trading Contest held from March 13 to 25, 2011.

I won the Second Place. I'm very happy with this achievement, I've done this by following my game plan and trading no more than an hour and a half a day. Thank you God!

MeetUp: Futures Paper Trading Result

I got here screen captures of my recent paper trading performance. On my first day I tried trading the emini S&P but I'm not ready for it. The following day and the days ahead I found myself very comfortable trading the Sweet Crude Oil Futures. The contest started with a playing money of $25,075 provided for each participants. I've traded for 10 days (no Sundays) and was able to accumulate +$2,485 in virtual profits.

Futures Day 10: Paper Practice

Last day of the Global Futures and RDS Trader sponsored paper trading competition.

I'm glad that I was able to execute my plan, trading 2 R/T trades rather than more. I'd like to practice this to save on commission tho this is not final yet as I'm still looking for a broker that has the lowest commission, nice platform, exceptional customer service, trustworthy, and fully registered. Am I asking for too much? I can be flexible :-)

Futures Day 9: Paper Practice

Another good day paper trading Sweet Crude Oil made a virtual profit of +290. My only complaint is I traded more than I should three round trips total, I'd like to limit that to two next time. Let see if I can next time around.

Futures Day 8: Paper Practice

No video today, still learning the capture program. I made 12 transactions (6 R/T) which is way above my trading routine. As much as possible I'd like to place only two R/T trades per day to save on commission charges.

These day trades were made an hour late from my usual trading time due to my pc acting up and not booting properly. I'm getting similar problem lately. My pc is less than three years old! If I'm trading real money I will not trade today given my pc situation.

Anyway, I was down about -170 at first but I've managed my way up to gain a paper profit of +50  but let's face it in real life this will be different. I know from my experience that if I'm down certain amount and it is within 2% my capital I will stop trading immediately. I'll be back after I've analyzed my trades and have cleared my head. Furthermore, I'll be back slowly, trading the smallest amount allowed.

Futures Day 7: Paper Practice

Today I tried to capture my trading screen. Just a simple recording of this morning's paper trading. I woke up a bit late the move I usually look for have already happened. Because I'm late I've added a 5Min chart to see a more detailed price action while conditioning my mind that I'm going to get out fast if I'm wrong and grab what I can in a shortest possible time.

The initial plan is to wait and place a long limit order at 103.80 well I was not able to do that as you will see on the video momentum is coming in so I entered with a market order instead. While in trade I'm not paying attention on my P&L rather I'm focusing closely on the price actions movement of the 15 and 5 minutes charts. Got out with a +270 paper profit.

Futures: Paper Practice Day 6

Two long paper trades for today on Crude Oil using 15Min chart. I'm out for a +170 virtual gain.

Futures: Paper Practice Day 5

My lone paper trade for today +100 on a pretend 1 contract of Crude Oil. I've been out early and have consumed the day driving around with my friend from Scotland.

Futures: Paper Practice Day 4

Here's my paper trading this morning traded only one contract using the 15Min chart instead of the 5Min.

Futures: Paper Practice Day 3

Done with my paper trading practice with Crude Oil. Its a scary experience this morning the 5 minutes chart moves are strong, wild, and volatile for me. I'll probably try the 15 or 30 minutes next time. I was able to get a paper profit of +410 or 1.59% gain for the day on a 6 round trip orders of a pretend 2 contracts scenario. Starting tomorrow I will limit my trading to 4 (2 round trips) that way I'm not filing up commissions.

Futures Trading Competition

Last week I've attended a trading meetup held at Global Futures in Tarzana CA. The meetup organizers are conducting a two week trading competition on all class assets and open for interested members and guests. The contest started last Sunday, March 13 @ 2PM PST and will end on March 25 @ 2PM PST.

I've joined so will see what might happen. Yesterday, I traded the ES (S&P Mini) and lost around -375 or (-1.5%) of 25,075 paper money. I was on my way out so I was not able to grab a screen chart. What I can say is...men ES is too fast on 5Min! It only took less than 15 minutes to hand me my losses. You really have to be disciplined and quick or you'll lose them all.

This morning around 7:10AM, I came back to trade Futures not ES tho, I tried my hands on Sweet Crude Oil it is also fast but not as crazy as ES I think. I was able to grab a paper profit of +1040 (4.21%), trading 2 contracts and a one time 3 contracts with my fingers on the trading tab scaling out for every 2-3 tics (or points?) I'm done after around 8:05AM.

Wish me the best of luck!