I somehow found myself at the forum after attending a seminar where a trading company tried to hook me into a bit of coaching and selling use of their systems for a pretty hefty fee. I decided I could probably spend my money more wisely and read a few threads on here and decided I would join to watch the webinars. I've been blown away by the quality of the forum so far, the webinar's have been really informative and opened my eyes to all sorts of things I'd never thought about...
A bit about me. I'm a new to trading - having placed a few trades on CFD's - some winning some losing. I'm hoping to make a few extra £££ on the side but not sure trading will ever be what I spend my life doing.
I've done bits of programming in the past but not C# so picking Ninja Trader up is proving a bit tricky but I'm getting the hang of it slowly and the info on the site and some of the example strategies and indicators really help.
I'm here to learn and hopefully to help others as I get more insight from others.
I am based in France, advanced in Forex (i have traded it for 4 years) , intermediate in Stocks trading (SP500 components) and absolutely newbee concerning "Futures" stuff. I am a part time trader (mainly US session) with a half-time job (in case).
Apologies for any spelling mistakes.
The following user says Thank You to geott for this post:
I've been a free access member for a long time but never had time to take advantage of this great community...until now. It's finally time to get serious about trading futures and I can think of no better way than becoming an elite member of the premier trading forum on the Internet.
I have traded stocks and options for many years but Futures seem to be the best place to continue trading in the crazy markets we have these days.
Thanks for providing such a great community of traders. Looking forward to the journey!
i found this forum some months ago searching on how to professionalize my trading, especially learning more about futures (platforms/brokers/datafeeds/pricings/professional trading in the us).
I am dabbling around in the financial markets on and off with several instruments and some success since 2000. Till the housing debt crisis i was overall a more passive stocks owner, trying also out some certificate/options trading.
The 2008 crash took away some of my scared savings, i simply couldn“t react anymore noticing the ongoing crash after returning from my vacances. Had to sell a bunch before the recovery in spring 2009. Very interesting and insightful reading about what happened before 2008, is the book "The Big Short", by the way.
Since then i diversified in treasuries, commodities, indices and forex to care more actively about my savings and maybe make some money back. I then learned the hard way that the industry is a shark pool. For example that even seemingly strongly "regulated" CFD brokers don“t like you winning and trick around with the executions/plattforms/pricefeeds.
I then switched to an ECN that gives me more and more trust to grow bigger in position sizing, focussing mostly on the fiber. I want(ed) to fully switch to futures trading due to the more regulated nature, but the recent developments, especially with MF Global (former goldman amployees seem to be sitting virtually everywhere in executive positions from casino trading to the regulation authorities and essential government functions, central banks, also here in europe; goldman consultants even helped greece to hide the real debts when entering the euro ) it seems you have to live with that and keep trusting the interests of small investors still are protected..
I find daytrading much more demanding than i ever could imagine. After even having followed 100% a week gurus (desastrous) and mt4 indicators stuff, lost time, money and my mood at times, i think finally there is really, absolutely no way than getting fully into it and to be a good trader yourself.
I am on a good way, working hard for hours every day and am getting more and more into the finer things of market (micro)structure, orderflow, volume/crossmarket analysis, some global macro, what professional robots do and so on.
And I really like it, giving my deep interests in this area more room my goal is to professionalize my daytrading and to consistently make a living on it. For the future i maybe want to look into longer timeframes in forex and into algos/automation/arbitrage.
I really enjoyed what i have been able to read here so far and wish everybody deeper understanding and success in this endeavour (and elses, of course).
Last edited by CFuture; November 25th, 2011 at 03:18 PM.
I started trading just before the, "Dot-bomb" with Datek before the Pattern Day Trading rules went into effect. I was making every kind of mistake you can imagine; switching time frames, not keeping stops, trying to get back at the market, etc.. Even though I felt I was as willing to go short as long on any given day, I tended to bargain shop in my trading and looked for stocks that I felt were oversold. If it made Warren Buffett a billionaire I must be on the right track right? Wrong! Talk about trying to catch a falling knife! This was the time when day traders were getting margin calls and jumping off of buildings. Due to divorce and losses my account fell below $25,000 so I moved to Interactive Brokers and started trading ES and NQ futures and did much better sticking to my rules, however I would still get caught in the occassional fast market that blew through my stops. These days I trade CL and ES with Ninjatrader using the ATM feature so that I try not to touch my trades after I manully pull the trigger. About two years ago when I first started using NT I cancelled a trailing stop on a profitable trade to give it a little more wiggle room and the market immediately shot the other direction turning my modestly profitable trade into an unexpected loss...lesson learned. I developed my current trading plan after reviewing my trading statistics for hundreds of trades; what I noticed is that my winning percentage for short trades was about 5% better than that of my long trades and that my largest winning trades short were twice as big as my largest winning trades long. This goes with the generally accepted axiom that markets fall twice as fast as they rise. So now I focus heavily on the short side of the market. The news today said, "Another Awful Week For Stocks." That's pretty presumptuous to assume that the majority of investors and traders are long....or is it? I read somewhere that it's, "Un-American" to short stocks! I strongly believe that most traders experience poor results due to our cultural bias to always go long, even when the market is falling they did what I did during the Dot-bomb and bargain shopped. So yes even when the market is going up I look to go short when the momentum subsides and the inevitable pullback comes. The key for me at least is knowing the conditions that are not favorable to my style; when the market is rising steadily on average volume. My favorite book is, "The Art of Contrary Thinking" by Humphrey B. Neill so I'm sceptical of a, "Santa Claus Rally" this year! My motto is; "One Trade At A Time" to me trading is not war it is getting in sync with the market...war conjures up all kinds of negative psychological images and trading is mostly psychology. Happy Holidays and Happy Trading :-)
What brought me to futures.io (formerly BMT) is my desire to trade futures successfully.
My experience is with stocks, spot FX and a few options.
After being a member for sometime but just recently spending a lot more time in the forum,
I've come to realize I'm amid some of the most talented, intelligent, creative people in the world,
so I feel very fortunate to be a member here.
Thanks Big Mike for this awesome forum,
and I wish every success to all futures.io (formerly BMT) members.