PLEASE HELP... Is it possible to be profitable with a small account after commission?

[krooto 5]

5 minutes ago, VladMD said:

Before I started using CMEG, I did as much research as possible and it became pretty clear to me that yes, you do have to use LIMIT. However, I never actually tried anything else to see if it works because I didn't have to. While I don't use Kyle's equalized risk hotkey (which is awesome by the way, but it just doesn't fit my personality), I'm pretty confident that if you replaced the route with LIMIT, it would be pretty much the same. Obviously please verify this and test it thoroughly in sim before attempting it live. 

 

And just as a side note, when you use LIMIT and set the price as "Ask" or in this case "Ask+0.05" it essentially works like a market order and you get filled immediately. 

 

Hope this helps 🙂

Interesting... thanks for sharing! Ok cool, what I will do is I will have a play with the hotkey code and see if i can get it to work using LIMIT. Then I will post it here 🙂 

[CliffG 31]

Here are a few of the Hotkeys I use with CMEG:

(You need to ensure you enable double click to trade on the chart - then double click when you want your stop to be)

Buy with $25 Risk with SL at clicked price:

StopPrice=Price-0.01;DefShare=BP*0.9;Price=Ask-Price+0.01;SShare=25/Price;Share=DefShare-SShare;DefShare=DefShare+SShare;SShare=Share;Sshare=DefShare-SShare;Share=0.5*SShare;TogSShare;ROUTE=LIMIT;Price= Ask+0.03;TIF=DAY;BUY=Send;DefShare=125;TriggerOrder=RT:STOP STOPTYPE:MARKET PX:StopPrice-0.2 ACT:SELL STOPPRICE:StopPrice QTY:Pos TIF:DAY;

Sell 25% of your position and move SL to break even:

CXL ALLSYMB;ROUTE=LIMIT;Price=BID-0.03;Price=Round2;Share=Pos*.25;TIF=DAY;SELL=Send;ROUTE=STOP;StopType=Market;StopPrice=AvgCost;Share=Pos-share;TIF=DAY;SELL=SEND

Short with $25 Risk with SL at Clicked price:

StopPrice=Price+0.01;DefShare=BP*0.9;Price=Price-Bid+0.01;SShare=25/Price;Share=DefShare-SShare;DefShare=DefShare+SShare;SShare=Share;Sshare=DefShare-SShare;Share=0.5*SShare;TogSShare;ROUTE=LIMIT;Price=Bid-0.03;TIF=DAY;SELL=Send;DefShare=125;TriggerOrder=RT:STOP STOPTYPE:MARKET PX:StopPrice+0.2 ACT:BUY STOPPRICE:StopPrice QTY:Pos TIF:DAY;

Cover 25% of your position

CXL ALLSYMB;ROUTE=LIMIT;Price=ASK+0.03;Price=Round2;Share=Pos*.25;TIF=DAY;BUY=Send;

Set SL at Break Even (works either direction) - uses Market - but no difference on commission with CMEG

CXL ALLSYMB;ROUTE=STOP;Price=AvgCost;StopType=MARKET;STOPPRICE=AvgCost;StopPrice=Round2;Share=Pos;TIF=DAY;Send=Reverse;ROUTE=LIMIT;

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Also, not sure if relevant (i suspect it is), but under Setup > Order Template, I have Route set as LIMIT and Time in Force as DAY.

Hope that helps

 

edit: PLEASE TRY THESE IN SIM BEFORE USING THEM IN A LIVE TRADING ACCOUNT

Edited December 9, 2020 by CliffG

[Mitch The Duck 4]

@krooto Yes it can absolutely be done.

You are doing great keep it up.

Use your commisions as one more indicator as to how you can improve your efficiency 😉 , it's just one more piece of the puzzle my friend.

[krooto 5]

@CliffG - Thank you so much! Will try them out tomorrow in the sim 🙂

@Mitch The Duck I think you've hit the nail on the head - there's an opportunity here to improve my efficiency! Thanks for the kind words!

[Luke7t 2]

Hey @Krooto how are you doing? I came across this post and wondered if everything works out right for you?

I am in the same boat as you did too-  having small account, and would be going with CMEG when I am trading live.. (not yet)

Edited May 4, 2021 by Luke7t

[krooto 5]

Hey @Luke7t!

I went live only a month or so ago (I did far worse than I predicted for my first month live lol). I was very lucky in that I was able to have the BBT CMEG discount applied to my account before CMEG changed their rules. I believe that CMEG no longer offer that same discount. I would ask around in the chatroom, because there may be a new discount offer. If not, then it would definitely be worth emailing Andrew Aziz and asking him to arrange a new discount with CMEG for traders starting out.

I wish you all the best in your trading career! Any other questions, please ask 🙂 

[Luke7t 2]

Glad to hear that you have started live trading @krooto

How do you know the BBT CMEG discount is no more?

[krooto 5]

@Luke7t I'm not 100% sure that CMEG have definitely stopped the discount code... I saw in the chat after the premarket show a couple weeks back some people discussing it... From what I read, it sounded like they had stopped offering the discount. Would be worth asking around I think...

[Bryan W 50]

4 hours ago, krooto said:

@Luke7t I'm not 100% sure that CMEG have definitely stopped the discount code... I saw in the chat after the premarket show a couple weeks back some people discussing it... From what I read, it sounded like they had stopped offering the discount. Would be worth asking around I think...

They've stopped offering it to new clients for the time being; hopefully it'll come back, but who knows. It's supposed to remain in place for people that already had it.