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Has anyone ever heard of Felton Trading? (www.feltontrading.com)

  #145 (permalink)

woodstock, ga
 
Trading Experience: Intermediate
Platform: NinjaTrader
Broker/Data: NinjaTrader Brokerage
Favorite Futures: Futures, TF, CL
 
jwhtrades's Avatar
 
Posts: 163 since Feb 2011
Thanks: 668 given, 87 received

Video Journal


bluemele View Post
The # of traders on MT4/5 vs. Ninja is probably 1,000 to 1 but just a guess from being around in the forums for a couple years and reading EVERYTHING.

The comments above about going from sim/live is spot-on. I struggled with this myself and would catch myself 'playing' around, but I would also do that with my own cash!

I would do this:

1. Go back to SIM for at least meeting x number of points per day per contract. This includes commissions of course and all other trading costs.

2. Verify the # of contracts is suitable to not make a difference in your mental abilities. For instance, I will trade at MINIMUM 1 contract per 50K when I start up live next time. This is at a point where if I have a bad day it will not sink me mentally. So, even though my account will be much larger, I will still start with 1 contract LIVE and go up after x # of days and making x # of points. (For me it is 2 points per day for 60 trading days)

3. Read books like 'Trading in the Zone' to discover a bit more about your mental self. Understand why you are trading differently.

4. Record your trading sessions and talk as much as you can about how you are feeling, what you are thinking etc.. You can also write all this down of course. Start a journal and document it all. I look back on 1.5 year old videos and am amazed.

5. SIM = LIVE. Period. You have to agree and not cheat yourself that if you click that mouse on SIM, then you just clicked it live. That is why an online journal w/ recording is good (that is why I do it) because it keeps me honest. Yes, there were many days of me not wanting to post.

6. Keep a spreadsheet or tally of your wins/losses, etc.. This will help you understand where you are at statistically and whether you should be moving ahead or not.

7. Learn EFT's, they work, and you don't even have to agree they work! haha... Google "Emotional Freedom Technique's"

8. Discover or understand if anything is distracting you. How can you make the system your own, what could be causing the differences with your trading that are presented in your physical world. For example, I listen to meditation music while I trade. I sometimes meditate prior, and I never open stressful email prior to trading or whatever. No conversations or anything that taxes me prior.

That is all I could think of... Good luck.

Great advice. I am close (couple weeks) of going live. I've read "Trading In The Zone" and keep a spreadsheet of my trades, both live and market replay. I struggle each day with lack of concentration, BONEHEAD mistakes like chasing the trade if the market is already trending after what would have been my setup had I been in front of the chart.

Can you tell me what software you use to record your live trade journal? I think that's a great idea.

Thanks in advance.

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