Is it Worth It!!! | Traders Hideout


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Is it Worth It!!!

  #60 (permalink)

MERIDIAN MS/USA
 
Trading Experience: Beginner
Platform: NinjaTrader
Favorite Futures: Emini ES
 
Posts: 29 since Jan 2018
Thanks: 50 given, 26 received


planetmoto View Post
@navionpilot well the good news is you're here. Most traders never find this place before they blow out and give up trading so there's a chance you can make it. The next thing I want to say is respectfully to others, trading is all about making money! Yes I said it and you will come across many who say you can't make it about money it's about psychology it's about markets and you cannot fall down that rabbit hole. We are all here to find our edge in making money, nothing more. That being said I'm going to suggest you take what you can from Al Brooks and move on to other materials. With all due respect I don't know any profitable traders that use his methods, I also have never seen Mr. Brooks share a verifiable trading statement or trade a live account, I've listened to him speak at several ever live and rarely came away feeling empowered to trade his rules, but that's just my $0.02 I'll leave it at that for now.
I would recommend learning Market Profile and Volume profile and basics of technical analysis, now there's another guy that pushes his VolPro methods, he goes by FT71, people love him here, Mike allows him to present, however I've talked to a few brokers in Chicago that swear the guy has never traded profitably and that he just loves to push his own brokerage and trading business. I don't know him and have never studied his methods as I learned volume strategies from other traders at my old firm so I cannot speak from experience I'm just giving you a heads up, be careful who you rely on to learn. That is the single biggest problem is there is little way to vet a company offering education, but BMT(IO) is definitely a good start and good home base to come back to. Now all that being said, there's an excellent free course at babypips.com If you were to pay for that course anywhere else someone would charge you $3k to $5k for it, so free is a steal. You finish that and you are in good shape; then learn one setup and trade it on a live account on one market, YM, NQ or ES pick one, 2 contracts not one. After you've sim traded a few weeks or more if you can take out at least 5 to 10 ticks per day and are net positive week to week go live following same rules have a stop and two targets first target you will always take one off and let your 2nd contract run with a trailing stop. Easy as pie right Tweak it as needed if you can stick to that you can make money now repeat every day. One of two things will happen in time. You will realize day trading futures is not for you or it is. Or you need a different strategy or market to trade. If scalping intra day doesn't fit your personality move to swing trading small to mid cap stocks. But in either case make sure you have at least $10to $15k for futures and $30k or more for stocks. Good luck I wish you much success in trading or at the very least enlightenment of the markets

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Wow! Wow! Now thatís the kind of advice I was looking for! Thank you so much for that! That was awesome. Iíll have to re-read this a couple of times and make some notes. Thank you again!!!!




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