I've been trading full time for two years. Prior to that I had been mostly spending my free time reading about and studying the economy since I was one of those doomers that was convinced that we were going to have a once in a lifetime banking meltdown. I had absolutely no understanding of trading or markets, but just opened up my first real trading account and started shorting and buying puts on banks and homebuilders as the ideas came into my head without even looking at a chart. Believe it or not I shorted FNM multiple times in 2007 and 2008 and ended up losing money on them. I did get a few trades right though so overall 2008 I made a pretty good profit, but nothing life changing. I ended up disappointed in myself for not executing better on a really good macro call.
I decided to switch to futures and trade full time to better take advantage of what I thought was going to happen next. I figured the easiest thing from a macro perspective would be to trade gold from the long side. Since it had been holding up under both inflationary and deflationary swings, my idea was that I could use more leverage. Anyway, my simple strategy has been to be as long as possible for the major moves and to try to minimize the damage on the corrections. I have been trying in the meantime to become a better trader and to occasionally make some shorter term swing trades on some other instruments (ES, ZB, CL). I'm also interested in Ags, but so far I've just been trying to learn. For 2009 and 2010 my strategy has worked well (basically 1 big winning trade and lots of smaller losing trades both years) but I am mindful of the fact that I need to be developing new strategies for when things change. Either that or go back to work.
I'm not sure how many people here trade longer term with leverage, but I'm interested in improving my short term trading as well. I've never participated much on online forums, but this seems like a place worth trying out. I'll probably be mostly lurking and learning unless I see something that I might be able to help with.
I have been casually trading mainly uS stocks for about 3-4 years. I trade options as well. I have made many many mistakes along the way, and have learned the hard way like alot of people. I'm just now starting to get involved in automated trading. I'm looking into NinjaTrader and MultiCharts. I'm a software developer by day and have been a programmer for about 15 years (java, pascal / Delphi, VB), but I am getting tired of how big corporations treat workers (I am a programmer for one of (maybe THE biggest) software corporation in the world) and I am thinking of day trading exclusively ONE DAY (baby steps, no RUSHING).
I hope to learn either NinjaTrader or MultiCharts. I'm hoping my programmer background will make this easier.
Thank you for reading!
The following user says Thank You to AngryNJ for this post:
I am as green as it gets. Although I have been interested in and reading about trading for a few years I have only recently made the decision to jump in and see if it is something I enjoy and can be successful at. I have spent about 3 months trying to educate myself with a month in SIM. I find out every day just how much I don't know. I have no intentions of putting real money on the line any time in the foreseeable future. I know I have a long way to go before that is even on the horizon. I have been reading reviews and comments on the forum for a few weeks and am impressed with both the level of knowledge and the spirit of community here. I'm hoping to continue to learn, grow and become more disciplined and this forum seems like another great resource.
I was introduced to trading on the forex market in 2005, when I was a student. Then I opened a real account, which finished six months later. Then I traded in demo account, and participated in competitions traders, even 2 times ranked.
Then I worked in the investment company as a bond trader. The 2008 financial crisis led to bankruptcy and unemployment. I am again actively engaged in trading forex, but profit = loss. I have concluded that opportunities for profitable trading in the forex market is minimal because profit/risk relations is poor.
Now I am trading NYSE stocks on paper and working on system developing. I think your forum is very helpful. Thank you all. Sorry for my English.
I've been around futures trading since they were chalking prices on blackboards at the CBOT, but have only traded intermittently. I traded S&P pit by phone in the mid nineties with a satellite data feed. I didn't like the slippage, and I always felt vulnerable to something coming out of left field. I never got bit bad, but I dropped it anyway. Costs were too high as well.
Modern, fast internet data feeds and trading interfaces have created an enticing combination recently, so I'm back, but I am still trying to find the niche that best suits me. Having said that, I am currently interested in understanding NinjaTrader better, and I watch a range of basic, high volume, high volatility instruments. Mostly I watch the Emini out of past familiarity, and I do trade some here and there.
Well, somewhere around 4 years ago, I decided that financial independence was something to be attained. So I looked into stocks and decided that that was not for me and eventually found Forex. I was excited. I found my new job! Just a couple pips a day and I'd be able to support myself. Fast forward four years of intense study, chart time, fantastic profit, even more fantastic loss and mental clusterf*** and I've managed to get to the point that I can call myself a profitable trader. Not yet supporting myself with trading, but on the way there.
I trade GU, EU, EG, GC, GY, EY, UC and UJ on 5/15/60/240 charts. Mostly naked except trendlines, pivots and the occasional fibo. Volume profile too, but I don't consider that an indi. I trade only London/US Sessions generally from 10pm to 4am PST & 10am-2pm PST. Stay the hell out of the asian bs unless I see a really good setup.
Risk Management is my NUMBER ONE priority. I was completely unable to be a profitable trader until I started taking losses EARLY! Never risk more than 2% on a trade(usually cut them way before then) and generally average .5 to 1.5% per session. Not very good R:R some would say, but I understand price action well and don't have a majority of losers.
Another vital component of my success has been weekly profit withdrawals from my account. I reconcile at the end of every week. If there is profit, I withdraw 35% of it to my bank account. I'm building equity, but also taking money completely out of the market. Eventually my capitalization will be large enough that I can live on that 35%. It makes trading very real when you have to consider whether you will get to withdraw at the end of the week. you should not use the need to make money as an impetus, or you will make bad decisions, but for me it helps me to focus on trading well. Being able to make that check request at the end of the week and then depositing that sucker when it shows up has made a huge difference in my trading...
I found this forum looking for a NinjaTrader pivot indicator, looks like a nice place.
The following user says Thank You to DarkPool for this post:
Hi Mike-good to be here. You have one of the better trader forums on the net and I look forward to getting involved. My background is stock trading and trading education in the stock arena but I am moving forward with adapting my trading style to the futures markets after years of resisting the urge to "go to the dark side" .
I look forward to getting involved here and meeting with some other traders (I currently live in the Atlanta, GA area). I hope to be a strong contributor in the future as I wade through the morass of learning material and I am big into research especially what conditions create a fertile breeding ground for explosive breakouts and I hope to team up with some other traders on that.
Right now I mainly trade emini's but will be branching out more and more as I get a stronger base in the idiosyncracies of these "slippery little suckers"!
The following user says Thank You to tradesurfer1 for this post: