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Life Without Trading

  #13 (permalink)

Kingsport, TN
 
Trading Experience: Beginner
Platform: Multicharts/Jigsaw
Broker/Data: Optimus/CQG
Favorite Futures: Currencies
 
eric73's Avatar
 
Posts: 79 since Feb 2013
Thanks: 152 given, 90 received

Have you looked at the Euro markets...?

Hi Trambo,
Instead of trying to trade the US oriented markets, have you looked at what you can trade in the European/London markets that has action similar to ES and ZN? The instruments won't be the same because they may not have the same Volumes and Price Actions as ES and ZN. But, they would be way more active during the times when you could be trading them (early morning and late evenings in UK time zone).

My preferred markets are what I've traded in the past on spot Forex, EUR/USD and GBP/USD. I would absolutely love to be in your shoes and be trading those two markets. If I want to trade EU and GU now, I have to get up at 2:00 AM to watch the German Open and stay online for a few hours through the London open up to about 5:00 AM my time. Then I can start getting ready for my day job.

Instead of trading EU and GU, I sought out watching markets that I could trade in later US evening hours on the Sydney Open/Tokyo Open on up through 10:00 PM, when I can start getting ready to go to sleep. Maybe you should look at other markets that are active in your time zone.

And stay on the simulator until you can trade winners consistently. I'm amazed that you made 1,100 of anything (USD or Pounds) last a whole year trading LIVE futures. There is a steep price to pay for wanting this trading lifestyle. And it's not all money...it can be in lost time connecting with Family and Friends as you're on the PC for all of your free time. My Daughter hates it when I'm on the PC instead of being with the Family.

It could be that Trading LIVE Futures isn't what you need to be doing. One of the other traders in Chicago said he makes way more from the free cash flow each month, on the one very small apartment building he has...than in his trading account. Trading looks cheap and easy when you first look at it, but it turns out to be very hard and kinda expensive when you really look at it. You don't have to spend several thousand dollars on tools just to fix toilets. But, I'm pretty sure everyone in Glasgow has a toilet. Now, fixing toilets isn't the point here...but doing something to make extra money that isn't trading futures is the point. You need to pay down your debts, and pursue your dream.

Take that as free advice from a 63 year old guy.

Cheers,
Eric.

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