I saw this when I was looking for something on the internet; I started trading as a commodities trader on the London FOX (futures & options exchange) in 1986 which was a baptism in fire esp the year after. It was terrifying.
One guy I traded with during that time used timeframes to make forecasts on commodities (soybeans especially) and he had charts going back to the inception of the contract in 1936. He could forecast and trade markets with an uncanny ability that I have not seen since. He retired to the Greek Islands with his own sailing school some years after.
Since then I have, like you, made and lost a great deal of money. I think most people become traders thinking they are going to 'make it' in 6 months, whereas for some, it can take 10 years. Think about that? But the money to be made is staggering if you get it right.
These days I focus mostly on automated systems, developing my own (which you won't find for sale on the internet) and I trade a managed fund that gives back to charity. I have a couple of discretionary & mechanical systems that I trade everyday without automation that do well, but automation is what interests me. The charitable trust fund runs an EA on a VPS & currently yields about 10% net per month, uncompounded! Believe me I didn't discover it overnight.
These days I only trade currencies, and for sometime have been using MT4, but have just discovered Ninja. So I look forward to seeing that bear some fruit in the coming months. Ninja should at least allow me to backtest some of my own ideas without having to employ coders all the time.
I will read this forum with interest, I am a member of 1 or 2 others but not many.
The following user says Thank You to brightredmegaphone for this post:
I'm new here, kind of....been lurking for a while. Like many of you I've had my share of trading suprises, both good and bad. Through extensive and careful study I've gravitated to a few styles/techniques of trading that work well for me......but most importantly, I've learned how to be a successful trader.
Somehow my journey has led me to Big Mike's Day Trading Forum!.......I am lucky to be here and hope to contribute regularly.
Thanks Big Mike!
The following user says Thank You to Devil Man for this post:
It's nice to see such a great forum full of honest and helpful traders. I've been especially interested in reading people's journals as they develop/continue their strategies and trading discipline.
I've lost a ton of money on the markets over the years thanks to my undefined goals, unclear expectations of success, and ignorance of my own trading personality -- But I'm back, and willing to learn as much as possible to one day make trading a career.
I've chosen Forex as my market for now because I can trade a micro account. There's a lot for me to learn, so I thank everyone here for their posts!
The following user says Thank You to dc618 for this post:
Hi, I live in Houston and have been trading part time for 20 months, 2 months ago I became active and full time. It is astounding how much more you learn by diving in full time. Not a day goes by now that I learn somthing new.
Wanted to find more in here about Renko charting... will continud to look!