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Introduce yourself here!
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Introduce yourself here!

  #2171 (permalink)
Trading Apprentice
Shrewsbury
 
Futures Experience: None
Platform: NinjaTrader, thinkorswim
Favorite Futures: ES
 
Posts: 1 since Oct 2011
Thanks: 1 given, 0 received

First message from a wannabe trader

Hi Mike,
Thanks for running the forum and allowing me to participate. I have decided to do some serious day trading in ES. I have 28 years of software engineering experience and figured it's time to stop worrying about getting outsourced and take my future into my own hands. I have been reading a lot on TA and ES strategies and done some paper trades using TOS. I would like to settle on a trading platform and start making real trades soon. I am looking forward to learning from the veterans on this forum.

Thanks

Ravi

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  #2172 (permalink)
Elite Member
New York
 
Futures Experience: Intermediate
Platform: Ninja
Favorite Futures: ES Bonds Gold
 
Posts: 1 since Oct 2011
Thanks: 1 given, 0 received

my introduction

Hi Mike,
I am a full time futures trader mostly ES/Bonds/Gold. I have been trading for 3 years full time but have been trading for 20 years stocks/options. I have used many platforms but trade off infinity brokerage and use Ninja charts using Market profile. I have tried many different styles of trading but like Market profile the best. Thanks for have this forum to share thoughts.

Thanks

Doji53

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  #2173 (permalink)
Elite Member
Paris
 
Futures Experience: Advanced
Platform: NinjaTrader
Favorite Futures: Futures
 
Posts: 1 since Jul 2010
Thanks: 3 given, 0 received


Thx for this great forum
Always a pleasure to read new posts en futures.io (formerly BMT) !

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  #2174 (permalink)
Trading Apprentice
london england
 
Futures Experience: Intermediate
Platform: TDwaterhouse
Favorite Futures: stocks
 
Posts: 5 since Oct 2011
Thanks: 0 given, 1 received

Been trading part time for 3 years

.. and I've lost about 20k..

So I'm not doing very well... Most of the money I lost happened in july when I stupidly went on honeymoon with a large holding of UK bank shares... cue market rout, I wasn't able to react quickly enough as I was on a Greek island (oh the irony) with no internet access.. But I'm holding in there.. Instead of selling up I've hedged with options so for the next couple of months I'm going to be protected.

My biggest problem is the fact that I have a day job (I'm a network engineer working for a well known US firm from the San Francisco area) and miss lots of trades. I'm interested to know who else has the predicament so will be sending a survey out about this.

When I focus on my trading I actually think I'm pretty good at it, but I don't have the guts to go full time yet.

I'm self taught, I really believe that most of these training courses where you pay to be taught trading are a rip off... ask yourself if the teacher is so good at trading, why's he teaching! So my learning has consisted of reading Reuters, Bloomberg, Marketwatch etc articles every day, and if there's something I don't understand I google it.. 3 years later I have a pretty good understanding of this stuff, and can hold a meaningful conversation with professionals. Good books are: 'you can be a stock market genius' greenblatt, 'the new market wizards' schwager, and Lefevre's 'reminiscenses of a stock operator.

I work form home sometimes and I usually have real time graphs (candlesticks, MACD) in the background.. and I watch them, just like someone might have a football game playing in the background.. Over the years this has given me a certain ability to know what's going to happen next.. and I'm right more than I'm wrong on average.

see you on the forums!


PartTimeTrader

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  #2175 (permalink)
Elite Member
Columbia, MD, USA
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: Mirus Futures/Zenfire
Favorite Futures: currency futures
 
Posts: 1 since Dec 2010
Thanks: 0 given, 0 received

Starting to Turn the Corner but Still Struggling with Psychology

I have been trying to day trade for about 6 years now. I had a lot of struggles in the past but have seemed to make some big strides forward in the last year. On a percentage basis my winners far outweigh my losers but on a cash basis the losers are still overwhelming me. Am struggling with the psychology of taking small losers. Right now I seem stuck in the "I can't take a $1K loss - I need it to be at least $5K" .. sigh .. and that wipes out weeks of consistent winners.

I originally joined here when I was looking for some NinjaTrader indicators.

I mainly trade futures - TF, ES, CL, GC, 6E. My current entry strategy is mostly counter trend but I am starting to look more toward trend trading entries in an attempt to get a better handle on risk.

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  #2176 (permalink)
Elite Member
BOSTON, MA
 
Futures Experience: Advanced
Platform: Tradestation, TOS
Favorite Futures: commodities, TF
 
mfbreakout's Avatar
 
Posts: 7,244 since Oct 2010
Thanks: 3,467 given, 15,230 received


TomF View Post
I have been trying to day trade for about 6 years now. I had a lot of struggles in the past but have seemed to make some big strides forward in the last year. On a percentage basis my winners far outweigh my losers but on a cash basis the losers are still overwhelming me. Am struggling with the psychology of taking small losers. Right now I seem stuck in the "I can't take a $1K loss - I need it to be at least $5K" .. sigh .. and that wipes out weeks of consistent winners.

I originally joined here when I was looking for some NinjaTrader indicators.

I mainly trade futures - TF, ES, CL, GC, 6E. My current entry strategy is mostly counter trend but I am starting to look more toward trend trading entries in an attempt to get a better handle on risk.

Your situation sound like mine 9 months ago. I have been trading full time for 3 years. Lost money for 2 years and switched to mark Fisher , author of " The logical trader" 9 months ago, and have not looked back.

I also made a decision to trade exclusively CL futures. It is counter productive to trade different markets till one can trade one instrument successfully on a consistent basis.

You can search MF on Google but in my book and Paul Tudor Jones he is a trading genius with a very simple trading approach.

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  #2177 (permalink)
Elite Member
BOSTON, MA
 
Futures Experience: Advanced
Platform: Tradestation, TOS
Favorite Futures: commodities, TF
 
mfbreakout's Avatar
 
Posts: 7,244 since Oct 2010
Thanks: 3,467 given, 15,230 received


rrshanks View Post
Hi Mike,
Thanks for running the forum and allowing me to participate. I have decided to do some serious day trading in ES. I have 28 years of software engineering experience and figured it's time to stop worrying about getting outsourced and take my future into my own hands. I have been reading a lot on TA and ES strategies and done some paper trades using TOS. I would like to settle on a trading platform and start making real trades soon. I am looking forward to learning from the veterans on this forum.

Thanks

Ravi

I would not have survived and have become successful in full time day trading if it was not for TOS ON DEMAND feature. I had TOS for 2 years and did not even know how powerful ON DEMAND feature is till someone told me about it.

ON DEMAND feature let a trader pick up any trading day from past 3 years and that full trading day is replayed exactly like that day. It allows trader to trade his/her set ups and see if they are working. I did it for entire one year while trading LIVE and BOOM- dark clouds disappeared and seemingly CHAOTIC price movement of crude oil futures became very orderly.

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  #2178 (permalink)
Membership Permanently Revoked
 
Futures Experience: Intermediate
 
Posts: 1,176 since Nov 2009
Thanks: 221 given, 843 received


TomF View Post
I have been trying to day trade for about 6 years now. I had a lot of struggles in the past but have seemed to make some big strides forward in the last year. On a percentage basis my winners far outweigh my losers but on a cash basis the losers are still overwhelming me. Am struggling with the psychology of taking small losers. Right now I seem stuck in the "I can't take a $1K loss - I need it to be at least $5K" .. sigh .. and that wipes out weeks of consistent winners.

I originally joined here when I was looking for some NinjaTrader indicators.

I mainly trade futures - TF, ES, CL, GC, 6E. My current entry strategy is mostly counter trend but I am starting to look more toward trend trading entries in an attempt to get a better handle on risk.

if you cant take small losers, then you wont last... ack you are wrong, it will make wonders.. that was one of my changing truths lets just say..

as @mfbreakout stated, Mark's book is excellent ...

MBF - The Logical Trader - overview

you should also visit this thread... it contains good info..

https://futures.io/traders-hideout/6742-acd-trading-mark-fisher.html

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  #2179 (permalink)
Elite Member
Los Angeles, California
 
Futures Experience: Intermediate
Platform: Ninjatrader
Broker/Data: Stage 5
Favorite Futures: ES AAPL
 
Posts: 83 since Jun 2011
Thanks: 41 given, 102 received

Hello to all,
I have been trading for 2 years. Some live some simulation. I have experimented with ES, NQ, Stocks, Euro and Yen Futures. Some of my trading has been discretionary and some automated. I am doing this while still running my business. I spend at least 50 – 60 hours a week in trading and related activities like reading and back testing.

I have written in C++ with Sierra Charts and Easy Language for Trade station. It’s been quite an adventure. I started out with an attitude of “This looks Easy” and have been humbled. I had been cycling through being profitable for a few months and giving it all back and more. Despite the oscillation and financial setbacks I believe I am becoming a better trader. I have had about $20,000 in losses so far this year and returned to simulated trading.

I have enjoyed reading the posts here. In fact quite often I feel as if Big Mike has been speaking directly to me. The things I have been working on lately are;

1) Changing my workspace only every 2 weeks if needed
2) Writing a more detailed journal that includes my feelings
3) Dealing with internal conflict decisively. (In trading and life in general)

I am also reading tons of psychology books. Right now I am about half way through “You Can Heal Your Life” By Louise Hays. This is not a trading psych book but deals more with correcting negative thinking.

I have been working diligently on my psychology and also meditating regularly for the last 6 months. The clarity and self-awareness I have discovered in meditation has astounded me. I have returned to discretionary trading on ES with a few indicators in simulation for the last 2 months. I am satisfied with my results and will be going live again soon. Good luck to everyone here and I will keep you posted with my progress.
Cheers,
whansen101

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  #2180 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 45,950 since Jun 2009
Thanks: 29,139 given, 81,903 received




Welcome all new members to the futures.io (formerly BMT) family

I look forward to your posts in the forums.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
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