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Introduce yourself here!
Started:June 10th, 2009 (08:43 PM) by Big Mike Views / Replies:530,620 / 7,061
Last Reply:5 Hours Ago (11:10 PM) Attachments:50

Welcome to futures.io.

Welcome, Guest!

This forum was established to help traders (especially futures traders) by openly sharing indicators, strategies, methods, trading journals and discussing the psychology of trading.

We are fundamentally different than most other trading forums:
  • We work extremely hard to keep things positive on our forums.
  • We do not tolerate rude behavior, trolling, or vendor advertising in posts.
  • We firmly believe in openness and encourage sharing. The holy grail is within you, it is not something tangible you can download.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.


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-- Big Mike
     

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Introduce yourself here!

Old February 5th, 2012, 06:53 PM   #2571 (permalink)
Membership Revoked
toronto canada
 
Futures Experience: Intermediate
Platform: NinjaTrader Multicharts
Broker/Data: AMP/CQG
Favorite Futures: nq,tf,es,6e
 
Posts: 9 since Feb 2012
Thanks: 0 given, 3 received

Hello, i am a daytrader. my favorite markets are nq,tf,es,6e. I first started trading futures after getting training from a mentor in canada. i moved with my family to US for work and i am looking to make the change to day trading full time.

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Old February 6th, 2012, 11:27 AM   #2572 (permalink)
Trading Apprentice
singapore
 
Futures Experience: Beginner
Platform: mt4
Favorite Futures: eur/usd
 
Posts: 1 since Jan 2012
Thanks: 1 given, 0 received

new here, was introuce by a friend from london. I am from singapore a tiny island in Asia . Hope to learn from the seniors here . Cheers

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Old February 6th, 2012, 02:03 PM   #2573 (permalink)
 Vendor: www.ltg-trading.com 
Chicago, IL
 
Futures Experience: Master
Platform: CQG
Broker/Data: CQG
Favorite Futures: futures
 
Gary Fullett's Avatar
 
Posts: 209 since Feb 2012
Thanks: 84 given, 367 received

Hi everyone!


As a little background, I started my trading career in 1982 and traded in the S&P pit at the CME. When I was first on the floor, I struggled with my trading. I started watching the paper flow of orders going into the pit, and noticed a pattern of where large orders were being placed. So I looked up sales by price, and was able to deduce where big money was active. This is what brought me to Richard Wyckoff principles, and Iíve traded and been teaching using these principles ever since.

The great thing about Wyckoff is that it doesnít matter what market or time frame Iím trading. It could be forex, commodities, or stocks. It could be 5 minute charts or monthly charts. The principles are the same for all of them.

I look forward to getting to know everyone!

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Old February 6th, 2012, 10:00 PM   #2574 (permalink)
Elite Member
Des Moines
 
Futures Experience: Intermediate
Platform: td ameritrade
Favorite Futures: gold,oil
 
Posts: 716 since Feb 2012
Thanks: 270 given, 285 received

Advanced in losses

hi Mike,
thank you for the forum.
i am an IT guy by profession.
have been trying to trade more and more just to break even from the past 4 years.
started with futures recently and had a ton of luck may be at start... but now hardly any good these days.
havent lost hopes yet!

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Old February 7th, 2012, 02:33 AM   #2575 (permalink)
Trading Apprentice
Indonesia/ Jakarta
 
Futures Experience: Beginner
Platform: Metatrader
Favorite Futures: Gold
 
Posts: 1 since Feb 2012
Thanks: 0 given, 0 received

Futures Edge on FIO

Are you a NinjaTrader user?

 
Hi, my name is michael, and i'm a trader from Indonesia
Glad to meet u all.. =)

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Old February 7th, 2012, 01:44 PM   #2576 (permalink)
Elite Member
Kuantan, Pahang, Malaysia.
 
Futures Experience: Beginner
Platform: NinjaTrader
Favorite Futures: Futures
 
beinvested's Avatar
 
Posts: 13 since Oct 2011
Thanks: 7 given, 1 received

Another Step in the Right Direction

Hi,

I'm learning to trade futures after a few years of investing in equities. I think trading is very different from investing from the little experience I have so far. I came into trading as I was often frustrated about selecting the right stocks and timing for an entry. Of course, trading has a whole new set of frustrations to deal with.

I have read quite a number of useful posts in this forum although I have only barely scratched the surface. I hope to join into the discussions and to contribute back to the community once I get a hang on things. It has taken me 100 days to make my first post, so bear with me.

I don't know where this journey will take me. What I do know is that futures.io (formerly BMT) is another step in the right direction, so here I am.

We are not only who we are. We can be more. We can be better.
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Old February 7th, 2012, 09:37 PM   #2577 (permalink)
Elite Member
Victoria BC/Canada
 
Futures Experience: Intermediate
Platform: tos
Favorite Futures: es,tf,cl
 
Posts: 1 since Feb 2012
Thanks: 4 given, 1 received

Hello!

Thankyou for the welcome to your site. I am a part time trader looking to improve my skills until I can do it for a living. I look forward to perusing the forums and contributing where I may.

Thankyou futures.io (formerly BMT)!!

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Old February 8th, 2012, 07:59 AM   #2578 (permalink)
Elite Member
Munich Germany
 
Futures Experience: Beginner
Platform: Ninjatrader IG Markets PureDeal
Favorite Futures: DAX EUR/USD
 
Posts: 11 since Jan 2012
Thanks: 3 given, 7 received

Hello everyone.
my name is Tom ( who would guess that :-) )
I`m 27 years old and live in munich / Germany. I started trading about 8 month ago and I`m pretty sure made all beginner mistakes that are out there.

I supported my self the last 6 years playing poker for a living and would love to make the transition to a full time trader. ( After playing several years 300 days+ a year it got kind a boring and I would love the competition to learn a new "game" )

I didnt waste too much time with sim trading as I didnt want to wait for the 1st million too long.
( Which, needless to say, resulted in a couple busted accounts... )

I mostly trade the Fdax and E6 at the moment ( with CFDs, but want to make to step to futures in the near future)

I spent several hours/day with trading screen time, but find it rather tough as on many days I see that more I learn the more I see how little I know...

From beeing active at the start ( up tp 40 trades a day ) I cut down my trading activities to only very few trades a day ( with somedays no trade at all) but I spent all the hours in front of the screen watching the markets, price action and learning about indicators...

After every session I surf on futures.io (formerly BMT) I would need a couple hours to half way understand what all posts are about, but Im positiv I will catch up in the next month/years..

So long... hello to everyone and I hope I dont bother u guys too much in the upcoming future with trivial questions...

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Old February 8th, 2012, 11:07 AM   #2579 (permalink)
Elite Member
port charlotte, florida
 
Futures Experience: Beginner
Platform: NinjaTrader
Favorite Futures: Oil
 
Posts: 94 since Dec 2011
Thanks: 54 given, 71 received


tomtom View Post
Hello everyone.
my name is Tom ( who would guess that :-) )
I`m 27 years old and live in munich / Germany. I started trading about 8 month ago and I`m pretty sure made all beginner mistakes that are out there.

I supported my self the last 6 years playing poker for a living and would love to make the transition to a full time trader. ( After playing several years 300 days+ a year it got kind a boring and I would love the competition to learn a new "game" )

I didnt waste too much time with sim trading as I didnt want to wait for the 1st million too long.
( Which, needless to say, resulted in a couple busted accounts... )

I mostly trade the Fdax and E6 at the moment ( with CFDs, but want to make to step to futures in the near future)

I spent several hours/day with trading screen time, but find it rather tough as on many days I see that more I learn the more I see how little I know...

From beeing active at the start ( up tp 40 trades a day ) I cut down my trading activities to only very few trades a day ( with somedays no trade at all) but I spent all the hours in front of the screen watching the markets, price action and learning about indicators...

After every session I surf on futures.io (formerly BMT) I would need a couple hours to half way understand what all posts are about, but Im positiv I will catch up in the next month/years..

So long... hello to everyone and I hope I dont bother u guys too much in the upcoming future with trivial questions...

I have been developing a course to help people (mainly me!) learn to trade. That course may never see the light of day but developing it has been helping me concentrate and focus. In that course, I have taken some time to look at other 'professions' to see what I can learn from them. I have considered surgeons, pilots, team sports people (football, baseball, etc.), single sports people (golf, tennis, etc.) and gamblers. Each of those categories reveals something about human nature and how we learn and behave.

I break gamblers down into three types: pure luck like roulette where you have no way to influence the outcome; statistical like black jack where if you can count cards you can put the statistical edge in your favour; and the third type is like poker which combines some luck, some statistics and some (a lot of) trade and personal management. I am not a poker player but I know the old phrase/song "You have to know when to hold 'em, know when to fold 'em" and that applies 100% to trading. This requires first of all that you watch and analyze what the cards (price) is telling you as the cards are played. Then you have to be able to act on that analysis. Emotions are the challenge and will work against you, keeping you in losers and getting out of winners, I suspect just like poker.

Here are my thoughts about emotions:
1) You can't control them. Once you have them, they are there.
2) You can control how you react to emotions. Courage is not the absence of fear, it is the ability to acknowledge the fear, identify what it is telling you and then act accordingly. This takes education, commitment and experience.
3) You can minimize the situations that cause emotions. If the thought of losing a $1,000 on a trade makes you sick then find a level of trade that doesn't make you sick. If the thought of losing $10 is trivial then find a slightly higher level that will make you take a trade seriously.
4) You can develop understanding and experience that gives you a different perspective and environment that will give you both reduced emotions and more ability to react properly when you have them.

wats0210 is another poker player that joined recently. You might want to look up his posts and talk to him.

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Old February 8th, 2012, 04:41 PM   #2580 (permalink)
Elite Member
Munich Germany
 
Futures Experience: Beginner
Platform: Ninjatrader IG Markets PureDeal
Favorite Futures: DAX EUR/USD
 
Posts: 11 since Jan 2012
Thanks: 3 given, 7 received


There are just so many similar things between trading and poker ( I play 98% online, so the math based aspect takes a bigger role then in live games, but psychology is just as important as in trading )

In poker there is everything about pot odds which equals the risk reward ratio in trading
( If you have a flush draw which gives you around 35% equity to win the pot and have to pay 1000$ to win a 2000$ pot --> bad deal.
If you have to pay 500 to win 200 good deal....like risking 20 pips to win 3..not a good trade )

Also money management, self control very similar.
In both you never have a guaranteed outcome. you can hold AA and the flop comes down A45...you could still loose (or already be behind vs 32)
Same situation in trading, where you have 4 indicators all saying long and you just broke and old significant resitance... still not a guaranteed winner...

In both "games" you have no guaranteed income you can just try to add up positiv expectations. If all goes well, you earn good money, but variance could be a tough thing...
With both you can do things wrong, but still win over a pretty long time...and you could also do things right but it still takes pretty long untill the winnings come to you.

Anyways after several month I feel like a experienced formula 1 driver, who is good in F1 racing, who jumped into a motorbycicle race ( but never sat on a motorbycicle before)
There ARE many thing which are the same, but its still a different game... and while I took money management and self control for guaranteed I had to find out that I have to learn it new for trading...

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