New trade:
Three MHGH5 contracts bought at a price of 4.6085.
SL = 4.4145
Total MHGH5 position is now long 3 contracts.
Stop-Loss for the entire position is now at 4.4145.
TMT
LONG Micro Copper Mar25
Reply
LONG Micro Gold Apr25
Position add:
One MGCJ5 contract bought at a price of 2901.9.
SL = 2823.9
Total MGCJ5 position is now long 3 contracts.
Stop-Loss for the entire position is now at 2823.9.
TMT
LONG Micro Gold Apr25
New trade:
Two MGCJ5 contracts bought at a price of 2862.9.
SL = 2791.3
Total MGCJ5 position is now long 2 contracts.
Stop-Loss for the entire position is now at 2791.3.
TMT
SHORT Cotton No. 2 Mar25
New trade:
One CTH5 contract sold at a price of 65.72.
SL = 67.42
Total CTH5 position is now short 1 contract.
Stop-Loss for the entire position is now at 65.72.
TMT
Game on
Over the weekend, I had withdrawn my money from Moomoo and posted my margin in Interactive Brokers (IBKR).
Simultaneously, I had reviewed my recent trades and thought about how I can do better. The losing trades are still too small a sample set to invalidate my system. I shall continue to execute in accordance to my rules and review again when I have a larger pool of trades.
Besides a problem on trading permission for some futures (which I am checking with IBKR support), I am good to go.
It is game on.
TMT
“To avoid whipsaw losses, stop trading.”
Ed Seykota
Five Fundamental Truths About the Nature of Trading
by Mark Douglas
- Anything can happen.
- Every moment is unique.
- An edge is nothing more than an indication of a higher probability of one thing happening over another.
- There is a random distribution between wins and losses on any given set of variables that define an edge.
- You don’t need to know what is going to happen next to produce a consistent income.
Moomoo to IBKR
Over the Lunar New Year festive period, I did a transaction cost analysis of my futures trades executed via the Moomoo trading platform.
I realized Moomoo was charging a platform fee of 1 USD per contract in a trade. For example, here is the breakdown of fees for buying 9 contracts of Micro AUD/USD Mar25 (M6AH5):
- Commission = 8.91
- Platform Fee = 9.00
- Exchange Fee = 2.16
- Regulatory Fee = 0.18
- GST = 1.82
- Total = 22.07 USD
This is actually quite expensive for a single leg. Hence, I have decided to switch to Interactive Brokers (IBKR).
The benefits of using IBKR are multi-fold. One advantage is that unlike Moomoo, there is no limitation on the futures contracts available for trading on the platform. This means I can trade the various CME Micro FX futures, which gives me a more refined exposure per trade.
IBKR is also lauded for its strengths by various authoritative websites. For example, Investopedia rated IBKR as one of the best platforms for trading futures. [article]
The third advantage is that IBKR offers a desktop trading platform, while Moomoo only offers a mobile app interface. The tiny font size in the app is challenging for me. I prefer to see things more clearly on a PC/laptop screen.
I am withdrawing my funds from Moomoo over the next few days. Meanwhile, I will complete the registration for an IBKR account and post my margin. This transition also gives me a needed pause in my trading, especially after experiencing the 13 percent drawdown.
TMT
STOP: LONG Corn Mar25
Hit stop-loss:
Four ZCH5 contracts sold at a price of 478.0.
This was my last holding. I’m completely out of the market. Currently facing a 13 percent drawdown.
Checklist:
Was it a planned trade? Yes.
Did I stick by my rules? Yes.
Am I back to a calm state? Yes.
Mind reset… Done. On to the next trade.
TMT
STOP: SHORT Micro GBP/USD Mar25
Hit stop-loss:
Twenty-two M6BH5 contracts bought at a price of 1.2377.
Checklist:
Was it a planned trade? Yes.
Did I stick by my rules? Yes.
Am I back to a calm state? Yes.
Mind reset… Done. On to the next trade.
TMT
STOP: LONG Micro WTI Crude Oil Mar25
Hit stop-loss:
Nine MCLH5 contracts sold at a price of 74.24.
News: Trump Browbeats Davos Elite to Curb Oil Prices, Interest Rates
A promising trade turned into a loss. Sigh.
Checklist:
Was it a planned trade? Yes.
Did I stick by my rules? Yes.
Am I back to a calm state? Yes.
Mind reset… Done. On to the next trade.
TMT
The Mechanical Trader 