I have been a professional poker player for the last 5 years. Thanks to the DoJ I can no longer make money the only way I know how. I've decided to put my energies into day trading the S&P 500 e-mini. I have a long way to go before I'm comfortable enough to go live. Luckily my OCD helps me in this regard.
The following user says Thank You to YertleTurtle for this post:
I am interested in collaboration work researching Successful trade patterns with like minded traders .
Instruments of interest: OIL , EURO , Emini futures
The following are at the center of my Trading philosophy.
1/ Recording historical price patterns quantitatively ( by math formula not just Eye balling ) and the ability to reference them quickly in real time is one major factor in identifying 'the Current Trading day' falls under which known pattern .
2/ Successful traders have a toolbox of well tested trading patterns, and use the ones most appropriate to the current market conditions.
3/ Fully tested and evaluated trading patterns are an important part of the successful traders toolbox. Testing trading systems does not guarantee future results, but it provides the trader with insight into what is likely to work.
The following user says Thank You to QtEdge for this post:
I just joined and am glad to be here. I have been daytrading on and off for 4 years now. I blew up one acct and like you went back and regrouped. Taking it a bunch slower and would like to learn more about XTrader which is how I found the forum.
If there are any other members from So Cal or just anyone who would like someone to share ideas with please IM me would be happy to chat.
The following user says Thank You to RCinLB for this post:
I am based in Arizona and have been into trading for about 18 months now - progressively getting more focused and productive.
I started on this path by enrolling with a local online tutor. Always had the sense that the tutor was not a successful trader, however, liked the approach and philosophy. Simultaneously I decided on a trading capital & then broke it down into 10 separate chunks with which to enter the market with - the expectation here was that it is very important to get live experience despite getting flushed out a few times....and so it has happened.
I started trading Futures (ES) and my 1st entry into the market lasted about 3.5 weeks. I then took some time to review my trades, dabbled a little with the simulator and re-entered the market. My new account lasted about 7 weeks. My trades revealed that i had a genuine issue with stops ! I designed drills and developed stop discipline and after a few weeks started trading again - my 3rd installment lasted about 14 weeks !....Although I was making progress on a timescale, I realized that I did not have a robust system/setup to implement. For a couple of months then I let the dust settle....and via Ninja seminars discovered a trading room that I could trade along. So started round 4 of the installment scheme - first few weeks were profitable and then things started going sour a bit.....I am at a point now where the need of a system to trade, not withstanding.....I am seriously developing a trading plan which outlines max stop size, max loss/day, the type of trades i would take and so on.......
Overall my approach has been that I would identify key issues that I need to fix after each installment/experience - I would fix them, possibly go to the simulator to ensure that new rules are in place and then foray again......onwards then to Installment #5...
Kindly do pardon if this has been a bit too long.
The following 2 users say Thank You to Sunny42 for this post:
I have been trading for a couple of years. Still not profitable. I really believe I have found my niche but still can't stop doing stupid @#$%^ that keeps me from making a profit. I am taking another break and will only trade SIM until I can prove to myself I can be profitable. If not I will be broke again - SOOOON.
I trade the ES and 6e. One thing I'd like to ask people is this. I need a good indicator for showing highs/lows or exhaustion or counter trends or turning points etc. Do you have any good suggestions? Trust me I understand that no indicator is perfect. I am just looking for one that will compliment the one I use.
The indicator I use is decent at letting me know early when highs/lows may happen. Problem is even knowing when a turn may be coming I still have a tendency to get in too early or miss the turn - then chase - then get mad and do stupid stuff. If I could find a good indicator to help me time entries for turning points - I may not have to trade SIM for the rest of my life or blow out my latest account.
I would like to thank everyone here. I have used a few indicators from here and decided it was time to chime in a little. I appreciate all everyone does and shares. I hope to one day be a profitable trader. Cause I have gone through enough learning for 10 people but if I am not profitable I cannot really help others.
The following user says Thank You to dpmsurf for this post:
I've blown three accounts in the past year.......I was advised that I lacked discipline during my trading.....I read The disciplined Trader and The Trading Zone by "Mark Douglas". WOW...I wish Id read these two books while I was still on simulator. I have not lost a trade in three months due to the applied knowledge of the advice in these books. If your new....stay on simulator....read these books.....then apply yourself. Almost every chapter had something in it that related to my BAD trading habits. Clarify / Rectify...Move on....Make money and always remember the Market is never wrong....Only " Y O U".
The following 3 users say Thank You to WoodButcher for this post: