Totally confused trading on Nadex


#1

Hi; I am a new trader - have only been in the business for 9 months. I have both Nadex Live/Demo accounts and other than the one live trade mandated to extend my Demo account, I have been using Demo exclusively to hone my skills. Even after absorbing (at least trying to) all the fantastic info you have on this site, I am more confused than ever when it comes to trading on Nadex.

Case In Point:

I traded the following today:

US SmallCap 2000 (Mar) >1220.6 (1PM)

11m : 14s (time left) 20 (bid size) 13.00 (bid) 19.25 (offer) 20 (offer size) 1219.653 (indicative index)

I placed an offer at 1220.6 buying 10 contracts. Looking at my chart I can clearly see the candle rising and breaking through the 1220.6 barrier moving upwards to 1222.43. Yet per Nadex I am not making but losing money; $-65.00 to be exact.

Please explain how this can be so. I must be missing something because I certainly do NOT understand this.

Thanks in advance.


#2

New trader: If you bought 1220.6, you were basically saying you expected the market to stay above the strike. Yet you say the indicative index was under the strike at 1219.653, so yes, you would have been losing. If you had taken the most basic of Nadex/APEX webinars , you would know that. I see you have not completed even 1 Apex course. I am wondering just what information you have tried to absorb as you state above. Do you want to trade Nadex? If so, isn’t it worth your time to take some courses to better your understanding? I would recommend you start with the most basic binary webinars to better understand the process and then learn a system of trading Nadex. After you have done this, jump in the trading pit and ask questions. There are a lot of people who will help you there, but you have to put the effort to get an understanding of how it all works and learn a system. Lori


#3

Hi Lori; Thanks for the response. Before you judge me though, know that although I have not completed any Apex courses (I have but am stuck at installing Apex toolkit in Ninjatrader), I have watched several Apex webinar videos posted on YouTube. I have also been studying the educational material provided by Nadex. Unless the information provided by Darell in those videos is not applicable than you are correct in saying I haven’t ‘studied’ even the basics yet.

As for getting stuck setting up Ninjatrader with Apex, I followed the first two courses to the T (BTW, unless I am blind there is NO download link visible to go to the Ninjatrader FXCM download. I got that information by having to enlarge your video and copy the HTTP address from there) but am unable to get Apex to work with Ninjatrader. I downloaded the Apex toolkit and installed it per the video. I install the toolkit with Ninjatrader closed. I submit my login details. The installation continues and I chose the 2/11/15 update (there is a long list going back to January). The software installs without errors. When finished. I start up Ninjatrader; an Apex window briefly opens telling me: downloading instruments: success. I load my data connections and as instructed by the video I then open a new chart, chose $EURUSD and click on the ‘Load the following chart template’. Contrary to what the video shows, there is no Apex chart. I tried re-installing the toolkit several times but withouth luck. That’s where I am stuck.

So … I can’t really continue with your courses until I have this going right.

I appreciate your feedback but refrain from rushing to judge me until you have all the facts. Now you do!

As for the question re my trade. I started below the strike price but closed out well above. Yet I still lost? Even your basic course doesn’t provide an answer to this conundrum.


#4

Hi, Just looking over your posts and I feel your frustration. In trying to set up your chart, I wondered if you are connecting to CQG first, before you connect to FXCM. That is important because you need both futures and forex data to use all of what’a available with Apex. Here are the links:

(FXCM helpful info)

I’m assuming that if you have already set up Ninja then you probably received the CQG user name and password email. This has to be updated every 3 weeks for your demo account. I also followed the steps that you said you had done in trying to load a chart and I can see your confusion on the Load the following Template. You are correct that there is not one named Apex! (not sure why) Anyway, if you will use any of the 5 "Pattern Elite MVP DiagBars" Candle or OHLC, you will be able to get the template you need. The other templates are used for different trading systems which you will appreciate as you learn more! I highly recommend you use the second link I gave you to help you make sure things are set up properly. As for you losing trade, what was the settlement price?
Another thing that will really help you as you get involved in the trading rooms is to download Jing so that you can share your charts. That way we can help you see what you might have missed and help you learn. Here’s the link for info on Jing:
https://apexinvesting.net/forum/how-share-charts-other-traders-230/how-capture-screen-images-share-them-forum-rooms-specific-simple-steps-432.html

One of the biggest things to remember is keep trading in demo until you really have it down. We are here to help. –Sherrie


#5

Hi Sherrie;

Thanks. I chose the 'Pattern Elite MVP DiagBars Candle" as my chart. After it loads up I get the following errors: see image 2015-02-19_1236 - Lodester’s library

I tried pressing F5 several times but the error remains. I also tried loading the OHLC charts but get the same errors. I am connecting first to CQG, then FXCM and then load my chart.

As for my trade I lost money on yesterday, even though I was ITM, that had to be a Nadex fluke somehow. It’s the only explanation I can give considering I traded again today using my same strategy and earned $342.

Anyhow, any help you can give me re the chart errors and how to fix them would be much appreciated.

Lode


#6

Lodester, I was not judging, simply checked to see what education you completed. From the figures you give in your first post, it seems to me you started out of the money and ended there also. Unless I am reading that incorrectly, the trade was not a good one from the start. If you pop in the trading pit, I will be happy to try and talk you through this stuff and explain what happened, and help you with your charts. Lori


#7

Lori;

Can’t get into the trading pit until I become a paying member first (so it seems?). BTW. Tried re-installing Ninjatrader and Apex from scratch just to make sure I didn’t miss anything or did something wrong. Same result: charts load but with errors. Pressing F5 doesn’t fix the issue.

Thanks.


#8

Lodester, I’m not sure what else to tell you as far as your chart problems are concerned. If you have a trial membership, you should still have access to the rooms. If your trial is still active and you don’t have access, submit a help ticket so they can help you get access. If you just have the lifetime free, then you won’t have access to the rooms, but could still submit a help ticket to see if they could help you with your charts. Otherwise, Lori said she would be happy to help you in the trading pit. Good Luck! Don’t give up! –Sherrie