tag:blogger.com,1999:blog-709390629316238746.post4978840752891094112..comments2023-04-16T05:11:52.660-04:00Comments on Don Miller Trading Journal: Friday Notes - Closing the Door on FebruaryDon Millerhttp://www.blogger.com/profile/13263493919935087931noreply@blogger.comBlogger12125tag:blogger.com,1999:blog-709390629316238746.post-3713491728803469422009-02-28T03:14:00.000-05:002009-02-28T03:14:00.000-05:00pk -Yea, although you'd have to factor in the equi...pk -<BR/><BR/>Yea, although you'd have to factor in the equivalent per-trade cost of the monthly $3K-$3K CME lease fee.<BR/><BR/>The first 200 per day are actually around .70 based on the CME lessee pricing that caps one of the rate components, and is then discounted after that ... and obviously I trade much more than 200/day :-).<BR/><BR/>Clearly, the high volume results in lower per-trade commissions, which encourages members to provide liquidity.<BR/> <BR/>DonDon Millerhttps://www.blogger.com/profile/13263493919935087931noreply@blogger.comtag:blogger.com,1999:blog-709390629316238746.post-9071381472110833902009-02-28T03:08:00.000-05:002009-02-28T03:08:00.000-05:00Hi Sam -Micro example: Almost always buying on the...Hi Sam -<BR/><BR/>Micro example: Almost always buying on the bid and selling on the ask.<BR/><BR/>Slightly more macro example: Entering when there's decent probability the the market is overextended to the up or down side and will correct toward the mean.<BR/><BR/>DonDon Millerhttps://www.blogger.com/profile/13263493919935087931noreply@blogger.comtag:blogger.com,1999:blog-709390629316238746.post-22462096679738549562009-02-28T00:14:00.000-05:002009-02-28T00:14:00.000-05:00Don,I just love how u can keep pounding away after...Don,<BR/><BR/>I just love how u can keep pounding away after that 1 day:)<BR/><BR/>Did i calculate right: your paying about.50 roundturn?<BR/><BR/>Im happy that feb is over...Unknownhttps://www.blogger.com/profile/01888820029031179716noreply@blogger.comtag:blogger.com,1999:blog-709390629316238746.post-70473153460891972212009-02-27T23:55:00.000-05:002009-02-27T23:55:00.000-05:00Don,What exactly do you mean by "retail" and "whol...Don,<BR/><BR/>What exactly do you mean by "retail" and "wholesale"?Samhttps://www.blogger.com/profile/04967068433164814493noreply@blogger.comtag:blogger.com,1999:blog-709390629316238746.post-67133038593007005972009-02-27T20:12:00.000-05:002009-02-27T20:12:00.000-05:00Hi Jeff -[I'm posting my response on both the Mond...Hi Jeff -<BR/><BR/>[I'm posting my response on both the Monday and Friday posts since you typed the ? on Friday but posted it on Monday's.]<BR/><BR/>Essentially, I look for wholesale entry price opportunities, which could reflect anything from trend and range break pullbacks to situations where the market is extended sufficiently enough such that there's a high probability of a snapback toward the mean.<BR/><BR/>In the latter cases, one of the tools I use is TICK extremes -- if the background trading environment is condusive to its use -- to help time the entries.<BR/><BR/>I'd of course prefer to trade with the current market flow, yet much of my keep is made taking the other side of extreme emotion under the right circumstances, and such was often the case during last fall's panic attacks where emotion was clear in the charts.<BR/><BR/>No problem with the ?s It's not an education forum ... I just simply babble about what works for me. Every trader is different though.<BR/><BR/>Hope that helps and welcome to the blog.<BR/><BR/>DonDon Millerhttps://www.blogger.com/profile/13263493919935087931noreply@blogger.comtag:blogger.com,1999:blog-709390629316238746.post-71742207036903197672009-02-27T20:03:00.000-05:002009-02-27T20:03:00.000-05:00Hi estrader -My trading varies throughout the day,...Hi estrader -<BR/><BR/>My trading varies throughout the day, and if you scan the blog, you should get a pretty good feel. <BR/><BR/>But in general, I both provide liquidity and pursue slightly longer-term speculative trades, and the liquidity trades tend to include small clips as you suggest.<BR/><BR/>I don't target specific points though, as it depends on how far the market has to go to transition from retail to wholesale pricing, which could be a few ticks or a few points depending on what the market is doing.<BR/><BR/>Hope that helps and welcome to the blog.<BR/><BR/>Don<BR/><BR/>DonDon Millerhttps://www.blogger.com/profile/13263493919935087931noreply@blogger.comtag:blogger.com,1999:blog-709390629316238746.post-47181478514355568322009-02-27T19:51:00.000-05:002009-02-27T19:51:00.000-05:00Don,Great Blog! Typically How many points do you ...Don,<BR/><BR/>Great Blog! Typically How many points do you look on average to get out of each trade? Do you bother with 1/4 & 1/2 point chips?estraderhttps://www.blogger.com/profile/08609547290689528959noreply@blogger.comtag:blogger.com,1999:blog-709390629316238746.post-994066044550221292009-02-27T19:32:00.000-05:002009-02-27T19:32:00.000-05:00EK -Thanks, but it's still subpar and I've got som...EK -<BR/><BR/>Thanks, but it's still subpar and I've got some work to do.<BR/><BR/>DonDon Millerhttps://www.blogger.com/profile/13263493919935087931noreply@blogger.comtag:blogger.com,1999:blog-709390629316238746.post-59586487033442789552009-02-27T18:59:00.000-05:002009-02-27T18:59:00.000-05:00Congratulations ! Great month !Congratulations ! Great month !Beinghttps://www.blogger.com/profile/15877009067903049205noreply@blogger.comtag:blogger.com,1999:blog-709390629316238746.post-260110114584592262009-02-27T18:22:00.000-05:002009-02-27T18:22:00.000-05:00Hi A -Round trips ... both buys and sells.DonHi A -<BR/><BR/>Round trips ... both buys and sells.<BR/><BR/>DonDon Millerhttps://www.blogger.com/profile/13263493919935087931noreply@blogger.comtag:blogger.com,1999:blog-709390629316238746.post-29910240556705462502009-02-27T18:16:00.000-05:002009-02-27T18:16:00.000-05:00Hi, I was wondering if the contracts traded stat o...Hi, I was wondering if the contracts traded stat of 37,534 is total "Round trips" or total including each buy and sell.<BR/><BR/>ThanksAhttps://www.blogger.com/profile/02104954254836335412noreply@blogger.comtag:blogger.com,1999:blog-709390629316238746.post-89383448877850867422009-02-27T16:09:00.000-05:002009-02-27T16:09:00.000-05:00Hi Don,Nice stats Don. Inspiring for beginning/st...Hi Don,<BR/><BR/>Nice stats Don. Inspiring for beginning/struggling traders like me. Oh if i can achieve a small fraction of your consistency & p&l. Something to aim for. <BR/><BR/>Thanks,<BR/>JNQJhttps://www.blogger.com/profile/06977300983887726822noreply@blogger.com