Thanks Mike for a fantastic forum. My skill sets for trading are very primitive and caveman like. I've attended Monkinars and just joined this site. This site has the best and most useful information. Trading with price and not relying on indicators has been a revelation. Mike, your videos showing price action really opened my blind eyes. I've been guilty of trying to over complicate my trading with all of the ridiculous indicators. Instead, they are in the background and it's interesting to see that when you apply the price action technique, the indicators have so much less value because you start to intuitively see the bigger picture within the chart. The indicators seem to set and unset while the intuitive trading takes place and a bigger chunk of the trade was taken today. The technique helped me to trade with the trend instead of trying to be a daredevil and trade counter trend. That is so simple but effective. Anyway, I don't trade the futures but someday may graduate to that level. My first goal is to become a consistent profitable trader with equities/etfs.
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My name is Lars and I am here to help you conquer the most difficult and yet rewarding profession among humans and earth bound animals. I am at your service for free. Don't hesitate to contact me at any time, especially if it is an emergency.
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Wow! This is a fabulous forum. I've perused many trading forums and it's hard to believe this gem is not quite 18 months old! I actually joined about 6 months ago and was slow to start as I hadn't been using NinjaTrader for a while. Recently I've linked a sim MB Trading account with Ninja so I started doing a bit more reading and studying the wealth of information on this site. I began trading the YM about 4 years ago, as often as I could, but have been focused more recently on the ES. Tried a host of "gurus" and endless searches for the "perfect" indicator and just seemed to be spinning in circles. I've calmed down and developed some patience, and while trading futures I initially lost, I was extremely conservative (with the exception of a couple of "frustration" days where I just "lost it" psychologically, coincident with my worst intraday losses!), and have been slowly eeking out gains over the past few months. I've realized the pursuit of "trading well" supercedes the idea of trading for money, i.e., trade well and the money will follow. Anyway, I very much appreciate the availability of this forum and for all the generous individuals who have previously donated their time. I hope I can make a contribution as well.
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I'm new to the forum and quite new to the day-trading business.
Will probably take some time until I will be able to answer questions, but mean while will try to find here useful information and maybe ask some questions.
Thanks to Mike and the other contributing members of this great forum. I find it really interesting and informative. I am interested in finance and trading and hope to learn as much as i can and contribute too.
Glad to be a member. Thank you again!
Hi. I always start the day with recognition of levels and price action on the 4 hour and 8 hour chart. Then I translate that to the current 30 minute chart structure and direction. I then key off the 5 minute and short time frame tick charts for tight entries fading extremes. Depending on the time of day and behavior at levels, I either trade the turns when the momentum of the direction has exhausted, or I will look for an extreme of a counter trend period of trading. I am trading for a daily goal, emphasizing high accuracy and small profit exits, to make a conservative profit target every day.
I really like what I see here so far and hope I can contribute. Of course so far the best I can do is how "not to trade". I've been trading/learning forex for about 3 years now, 2 1/2 of those with real funds. Have not made consistent profits yet. I will succeed though, I have to!
Here is my first helpful tip, which by the way, any successful trader will tell you is suicide in this world
One of the reasons I have not done well is that I have a very short attention span. I would actually spend weeks, or even months reading, studying charts, and tweaking a method, only to turn around and bag it after just a couple losses.
I have been doing better in that I have gone from consistently losing to now breaking even. Next step is going the other way and actually profit.
Anyways; since I tend to sound like I'm speaking in riddles, the tip was to find/create a method that looks like it has decent potential, study it, demo it, and then use it long enough to give it a chance before you move on to something else.
I have a fairly busy schedule but will try my best to give Big Mikes forum here a shot. I like the philosophy.
I should mention that I chose beginner as my status simply because although I have been trading for 3 years, I really don't know what separates a beginner from intermediate. I'll upgrade when I start making consistent profits.