All thanks go to Big Mike. He's the one that had the foresight and tenacity to set this up. Quite an accomplishment.
When I became a member not long ago, he advised me to research the Psychology and Money Management part of the forum. It was a mind awakening experience. I suggest you spend some time learning from the smart people who posted information there.
I've started trading journey 2 years ago in the forex markets (and lost money). I was gripped by excitement of it all, and I had started just before the big crash! I don't think it gets more exciting than that! Come to think of it, its kinda funny that I was excited about losing money..
Anyway, I've learnt to control my emotions now, and be strictly objective oriented. My job is just to execute the strategies. I've now moved on to e-minis, trading the ES, but I'm mainly still on demo, experimenting with various strategies.
I'm looking to find a really good formula sometime soon.
about 10 years ago i worked at a chop shop in nyc. that got me interested in the markets, but not in selling stock to folks, but more trading my own account. since that time, i have finished up college and worked for the past five years saving enough money to live and trade for about a year before i need to get back to a paycheck. hopefully, i can make trading for a living a career. currently, i use lightspeed along with quote tracker and trade ideas. i focus on gappers and use a retracement method to buy or short them ala wallstwarrior and traderx. i also subscribe to a few different nightly trading services and one real time trading room.
The following user says Thank You to stiks47 for this post:
Read your post and it seems like you have sources, ideas and some cautious moxie... If you haven't read some of my posts to other newcomers under the grandad58 handle, I would like to say a few words to you.
Now please don't be offended. After more than 40 years seeking my way, with a big win many years ago and lots of red ink since, I have come to learn what Big Mike is teaching to anyone who will listen; that you have to learn what you can from others that are willing to share, study the way the market you are interested in moves, and most important, develop your own method. The fact is, what someone else does may not work for you.
I'm not trying to discourage you, but rather to make you think and maybe even write down your specific plan so you know personally what you want to do. I consider myself a newbie because I have not done what I want to do, trade for a living. But I am working on a plan, and will operate it on simulation.
Big Mike recommended that I learn the good information in the Psychology and Money Management section of this website, and I would suggest you research that topic.
Good luck to you, let us hear how you are doing.
Sorry, I don't mean to preach...