As most made many, many mistakes during my "trading career". Greed, fear and anger were all part of it.
Been trading on and off for the last 14 yrs. Started out with commodities trading in the 90's. Yes, used the phone back then and waited for 10 minutes to get my orders confirmed....
Then moved on to swing trading European options, after that daytrading US stocks and "finally" daytrading US and Eurex futures.
This forum looks like a wealth of info and I am looking forward to that.
I have spent couple years learning about trading and still learning. I have other business besides trading. However, I'm planning to make trading my main focus in the near future if I get to acquire the skills for it.
Hi everyone I'M Randy and this is my first post in this forum. Have you ever felt like you've fallen down a rabbit hole and you don't know what this world is that you've fallen into?? We I feel a bet like that. The markets feel like a runaway train with no engineer guiding the train. So I'm here to learn and all I think I have to offer the group at this point is a willingness to learn and a strong desire to succeed at this crazy business and total curiosity about trading futures and the markets, is this Alice in Wonderland or what? So far I'm starting at Futuretrader71 and other places I should start my search for how to do this futures trading? Speak up by all means....
I'm new, would like to share a bit about myself and methodology
Hello fellow traders.
PowerZone Trader here. Do Futures, love the leverage. Right now trading Gold quite a bit. I use NT 7, Mirus as my broker, an I MAC with VMware running Win7 Pro and NT7. Futures leverage is quite astounding, when you stop to consider. With a $1,000 trading account, you can control a $150,000 dollar Gold contract. That's $149,000 more than you have in your account. With a $2,000 account, you can control two contracts for $300,000. That's $298,000 more than you have in your account. And on it goes. Pretty astounding. I find that consistent, profitable trading is about 100 times harder than the next hardest thing I've ever done in my life. So for the life of me, I can't understand why I let myself blow out two accounts and kept going. Glutton for punishment? Or just trying to live the American Dream of financial independence, complete freedom from a boss and a time clock, and constant challenge and stimulation. I guess it's the latter. Took a trade earlier this morning and wanted to share. I'll share a post to a video of it, but first let me lay some groundwork. Over the two years that I've been trading, I have noticed that the most consistently predictable price action comes in the form of trend continuation plays I'll call the wave. Yes, you can learn about them in writings on Elliot Wave Theory. The idea is relatively straightforward. You set up your candles in range charts using Fib levels. I use a 21 as my mainstay. You have an initial thrust, usually at least 3 bars in length, followed by a pullback. The price retraces to a Fibonacci level, usually a 13 period EMA, but it could also be a 21 or a 34. 13 is most common though. The retrace could be one or two bars. Once the trade begins to move in the original direction (pro-trend) as evidenced by a complete candle bouncing off or wicking off the aforementioned EMA, you begin looking for an entry. I like what's called a second push entry. Actually, it's nothing more than a wave fractal, a smaller wave. Price pushes through the level set up by the completion of the resumption candle, pulls back, and pushes through again. That's my entry signal, assuming enough volume, right time of day, my head is clear, etc. The target should be 1.25 of the candle, or about 25 ticks. My stop is 10 - 20 ticks. I will try and use all the basic fib levels trigger lines and 200 period EMAs as guideposts to trade around, use as safety nets, support and resistance levels, stops and targets, etc.. So a logical target may be a couple of ticks before or after that 25 tick basic level if there is a 200 period nearby.
Money management, emotional control, philosophical attitude towards losses, a passion for learning and growing, a focus on the mental game of trading and learning how to meditate and rest are very important. Also, finding lots of time for fresh air, exercise, ( I mountain bike a lot), a healthy, high raw diet, loving relationships and having plenty of other hobbies and pursuits round out the successful trader, in my humble opinion.
What a great find futures.io (formerly BMT) is. I've spent a couple of days perusing the site and am really impressed with the quality of the posts and the educational offerings.
Elite membership is a pretty obvious choice to gain the benefit of all that is offered here, so I took care of that detail today.
My trading efforts have been sporadic and relatively minimal over the years (too busy making a living to recognize the great opportunity trading provides). I got a little more serious about options a couple of years ago, but now am fully focused on intraday trading (stocks). I'm 'retired' so trading is my 'job' and I'm enjoying it very much.
Though my trading system is simple and focused, nevertheless there is a lot of information worth reviewing (and absorbing the aspects of it which may add value to an individual trader's approach). I've recently begun reading Al Brooks' new 3 volume set Trading Price Action (I have the first two volumes, the third hasn't arrived yet), as well as Dr. Brett Steenbarger's The Daily Trading Coach. Disciplining my thinking is the hardest part of trading for me.
Pleased to be part of the community and want to take this opportunity to wish all members a wonderful 2012.
I am a new member of this community... even though I signed up a while back, I am just starting to get active in this forum. I primarily trade the ES & NQ using Market Profile. Although I am not a MP trader per se, I do employ MP concepts in evaluating the markets & it provides me with a structural basis for my trades. I come from a business background & am now trading full time as it is not only intellectually stimulating but also one of the few businesses one can engage in from anywhere in the world. I look forward to learning & sharing my thoughts with this community.
HI guys I'm form montreal and have been trading for a year ruffly. I also have a tendency not to learn by doing research as I find most information out there is wrong or incomplete. I do not expect any difference if I was to pay for information. The truth is out there but it is buried beneath to much stuff that can lead to blowing a few account.
Because I am self taught just using ideas I have seen and then developing them my self I lack in the most basics of knowledge. While I excell in more complex issues that people dont seem to learn as it may not be needed (I was happy though to see that there are a few people on this site that are doing well using my kind of systems.
I consider myself very detailed oriented to a fault even. I really avoid learning certain topics as If I tend to overly focus on things I enjoy such as entry signals. Thanks to this site I'm finding a more enjoyable way to discover the topics that need work on. I dread the idea of learning money management! But i have already found some excell sheets on this form this site !
I use the sterling trader platform and know only how to place an order on it. stops trailing stops and such I have very limited knowledge of. I mean i understand them but I do not feel like I know them well enough to depend on using them on every trade. I have searched for info on sterling and it yielded no proper training.
Like risk management, proper order entry represents my main issue. A good understanding of the topic at hand in general, some detailed information such as spread sheets. but a missing piece in between. Maybe its my meaning style. I really need to see it being used or have some one guide me the first time.
Any ways that's me as far as trading goes in a nut shell. I also tend to babble alot and do it without any respect for grammer or punctuation.
I hope to help people with my unique knowledge and get help in some simple key things. but most of all just having people to share my thoughts with during the trading day or after hours .
A bit about me .... I've been studying the markets for a few years now predominantly forex with my favourite pairs being eurusd and gbpusd.
I was initially introduced to point and figure charting by a colleague and used to chart the currencies by hand, as a qualified draughtsman this wasn't a big problem in fact I still sometime hanker after those days of being able to lay out months of charts on the desk to get the "big picture"! The same guy consequently put me on to the Volume Spread Analysis/Wyckoff method of charting which I still use now as my every day methodology with candle stick patterns and trigger numbers and fibs thrown in for good measure!! Any more and the screen looks too crowded for me.
During this period I was also going through a period of personal development and have subsequently become qualified in NLP and EFT and the psychological side of trading is now of great interest to me and I hope to be able to bring some of my experience gained in how the mind/body works to help people along in our quest to become successful traders.
I trade part-time, mostly using auto-pilot trading in OmniTrader to take short-term 15 - 20 min trades. I test my strategies using TradeIdeas and set them up in Omni-Pilot to trade them during the day. My goal is to make 5% - 10% per month on my capital using 4x leverage without holding any position overnight.
I am also interested in learning more about discretionary trading and am always looking for new ideas.
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