New to futures.io (formerly BMT)F. I am officially at overload. New to trading- 1 year- fully registered stockbroker, have full capital behind me. Sat in front of my computers for 2 months. I have so many indicators going off in my mind, struggled with the mental aspects, built what I believe is a killer indicator, that works well.
I can pull the trigger on as many trades as I want...but I just have not done it. Anyone else go through this phase and any suggestions to help press me in to the kind of trader I expect I will become. Any feedback is appreciated.
I passed trough this as well. I think erveryone does. Now I´m trading without any indicator (using only price action and volume). The most important thing in trading is your mental status and your risk management.
By this way I can recommend you this book: Vadym Graifer, Christopher Schumacher, "Techniques of Tape Reading"It helped me a lot like other books, which are in german unfortunately.
The following 3 users say Thank You to Malvolio for this post:
I'm glad to be able to dive in here - after over 1000 messages on the "Introduce yourself" thread, I figure futures.io (formerly BMT)F isn't so small anymore like Big Mike says in the introduction. That's pretty strong growth for just over 18 months.
I first traded back in 1992, then again in 1998, and now this time since June but with a lot more preparation beforehand.
I'm a Java programmer originally so using NinjaTrader and .NET for me is crossing over to the Dark Side. So far I've managed to handle NinjaTrader 7 beta and a whole heap of bugs, but now it's gone General Release, I'm optimistic there'll be more stability.
I've been up, i've been down. After trading full time for the last 3.5 years, im almost back to where I was when I started(capitulated 2 days from the bottom), and I'm to the point to where I have to make a change in my performance or get a real job. Right now I'm thinking that futures might be the answer I'm looking for.(leverage, pre and post market trading, higher liquidity) The second answer is I want to automate some of my trading because I'm unable to make trades quick enough when the market really gets moving and I end up paying up too much for the stock. I mainly trade equities off a 3 or 9 min chart, using multiple trend analysis for determining the trend, and triggers off of price&volume. I'm currently using IBKR with quotetracker and considering changing brokers and software. Thanks Big Mike for your site...
The following user says Thank You to ggillespie for this post:
My name is Sam. I have been trying to learn how to trade the ES.
It has been a costly learning journey so far. I started learning the markets and technical analysis since 2 years.
I have been focusing on ES since 1 year now. Blown my account 3 times so far. I am simulating now....but simulation seems boring and I generally do good in simulation but do not last 1 week in Live markets.
I have run out of ideas at the moment....but will start in earnest again in Jan 2011.
sounds familiar...however what makes you think this time will be any different than the last time or the time before that or the time before that? You need to ask yourself that question and actually spend some time answering it before you commit another dime to live trading. When you answer that question, you'll be more prepared to go live.
The following user says Thank You to MWinfrey for this post:
I have been lurking on Big Mike's for a while now and am confident that what I find here will improve my trading and hopefully I will reach a stage that I can give back by making some good contributions.