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Introduce yourself here!
Started:June 10th, 2009 (08:43 PM) by Big Mike Views / Replies:529,663 / 7,056
Last Reply:Yesterday (01:06 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.


You'll need to register in order to view the content of the threads and start contributing to our community. It's free and simple, and we will never resell your private information.

-- Big Mike
     

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Introduce yourself here!

Old March 3rd, 2012, 03:02 PM   #2671 (permalink)
Elite Member
Saint George, UT USA
 
Futures Experience: Advanced
Platform: Tradestation
Favorite Futures: FUTURES
 
Posts: 1 since Mar 2012
Thanks: 7 given, 0 received

Hello everyone,
i'm a a retired aviator--Western Airlines, US Air Force, RVN, etc, I traded throughout the whole time (except for time in Viet Nam). I still love it. I also love to program, so my CURRENT project deals with automatic trading using Tradestation and futures.
There are some very neat ideas on this website that I look forward to learning from. This website is a perfect resouce for someone like me.
Thanks to everyone who makes it what it is.

Oletiger

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Old March 4th, 2012, 04:21 PM   #2672 (permalink)
Trading Apprentice
Adelaide, Australia
 
Futures Experience: Advanced
Platform: Ninjatrader
Broker/Data: AMP/CQG
Favorite Futures: 6A, ASX, BRN, CL
 
Posts: 9 since Mar 2012
Thanks: 0 given, 11 received

G'day, mates @ BMT!

Hello to all from Australia... hope you are all enjoing the weekend, but here we are just getting ready to work. Sometimes, I guess, its not always good to be so far ahead in time when the rest of the world is still relaxing.

In all... I am a trader and teacher of Russian (yes, I was born there too). I have been in Australia for about 4 years now, teaching and trading in my sparfe time. I am a former forex trader who has been trading futures for about 1 year. I mainly trade different oils (chiefly BRN, occasionaly CL as hedge), 6A & ES, and of course ASX (liquidity still not as good as US, but decent).

I currently use Ninjatrader platform. I like it a lot. It's free (+ free viewable charts), quick executions. Came across this forum just now after random Google search. Seems like a great place to mingle with traders, exchange comments.

This seems like another big news week, so much intense trading ahead. Syria is still making news and the Russian presidential election, if followed with protests, could make another big spike in oil prices. Europe is still feeling the woes of Greece, so looks like more strikes and violence ahead. Kind of scary what the world had come too, but it makes sense in end.

Hope to be back here soon... now off to work.

Cheers!


Regards,
Marat

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Old March 4th, 2012, 07:54 PM   #2673 (permalink)
Trading Apprentice
Dallas, Texas
 
Futures Experience: Intermediate
Platform: NinjaTrader, TradeStation
Favorite Futures: ES
 
Posts: 18 since Mar 2012
Thanks: 0 given, 2 received


Hi All! Futures day trader here while still playing stocks and options for my longer term accounts. Thanks Mike for this forum. Looking forward to sharing ideas with everyone.

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Old March 4th, 2012, 08:15 PM   #2674 (permalink)
Trading Apprentice
New York, New York U.S.A
 
Futures Experience: Advanced
Platform: NinjaTrader
Favorite Futures: Stocks
 
Posts: 1 since Mar 2012
Thanks: 0 given, 1 received

New to the forums

New to Big Mike's Trading Forum. Nice to be in the company of traders. I've been trading for 15 years now. Like most, I paid for my education by taking a beating when I was a novice. You always think you know enough, and then you learn some more.

I've made many friends and relatives 100% on their portfolios these last few years. I did that part time and through swing trading. (It was realtively easy following the 2008 tumble.)

I prefer day trading stocks. Things I have learned through the years are:

1. If you day trade, close positions by the end of the day.

2. Use stops and adhere to them. If you use trailing stops, let them go until they are hit or get out by end of the day.

3. 1% to 2% loss of your total capital on any one position. I stick to 1%. Also, if I lost 1%, that would be it for that day. If you have 100k and can trade 400k on any one position, you still use the 100k as your total capital; hence your limit would be 1000 to 2000 loss on any one trade.

4. Aim for a 3 to 1 profit/loss ratio. If your stop is 10 cents, your target gain should be 30 cents.

5. Over trading and not letting your profits hit their targets can hurt you just as bad as not leaving stops in place.

6. Have a system and back test it. Experiment with different P/L targets. Do I trade at market open or wait 15- 30 minutes before getting in? How long do I want to be in a position?

7. Don't keep changing your time frames and indicators until one finally meets what you want the stock to do. If you were wrong, adhere to your stop and move on.

Here is something that happened to me a long time ago and I am sure has happened to others:

You buy a stock at $10.00. You have a stop at $9.75. This is a day trade. Your stock goes to $9.55 and you freeze. You don't sell and say that this will now be a swing trade. A week goes by and the stock is now at $9.00. You convince yourself that you know you are right and that this is now an investment. 2 weeks later the stock is at $8.25. The following Monday a buyout or some other great news comes out and your stock is at 13 dollars. You are going nuts. You sell for a $3.00 profit. You tell yourself that you knew you were right all along.

3 months later you buy another 10.00 stock for a day trade. it goes below your stop and is at $9.65. You remember what happened last time and you think it will happen again. The stock slips to $8.75 a week later. You are not worried at all. You know you are right and the market is being manipulated by the market makers. Well, 1 month later your stock is at $4.95. You feel dejected and throw in the towel. You hate trading and say you'll never do it again. Sound familiar?

Trading is like when you were young and going to school. People told you to study hard, get good grades, etc. Do most of us listen or do we think we know it all? Only when we get older, and it's too late, do we realize we should've listened. Trading is the same way. We've all heard how to do it right, but we just won't listen until we experience the pain for ourselves. Why I ask, why?


Last edited by Trader705; March 4th, 2012 at 08:24 PM.
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Old March 4th, 2012, 09:53 PM   #2675 (permalink)
Trading Apprentice
Dallas, TX USA
 
Futures Experience: Beginner
Platform: NinjaTrader
Favorite Futures: ES
 
Posts: 1 since Mar 2012
Thanks: 0 given, 0 received

Futures Edge on FIO

Are you a NinjaTrader user?

 
Hello to everyone. I heard about this forum through a friend. In 1996 I recieved a pamphlet in the mail from Ken Roberts and bought his TWMPMM workshop videos and studied the materials but never found the confidence to actually trade what he taught. Bought other courses from guys like Larry Williams, Joe Ross, Joe Rondinone and Jake Bernstein and serveral others along with building a pretty extensive library of trading books from various authors. Spent thousands of bucks. It's an old story and a never ending one for most. It's like always learning but never coming to the knowledge of how to do it. Just trying to find something that works for me and that I can understand. I like day trading however I don't like placing 20 or more trades per day.

I prefer minute charts over tics. I've used many variations of standard indicators that are available in most charting software packages. It is my hope that I can learn something worth while here in this forum that I can maybe make it my own.

Bob C.

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Old March 5th, 2012, 06:49 AM   #2676 (permalink)
Trading Apprentice
Nigeria
 
Futures Experience: Intermediate
Platform: NT, mt4
 
wise's Avatar
 
Posts: 2 since Jun 2010
Thanks: 0 given, 0 received

New Live Trader

Hi everyone, i am mainly into Forex although i have looked at futures. Forex is still cheaper for me right now. As at this moment i have gone live in the forex market, my first trade being a short in GBP/USD. I mainly focus on swinging trading, as its most convienent for me at the moment. I started looking into forex as of 2007.

I look forward to being a fulltime member of this community.

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Old March 5th, 2012, 09:26 AM   #2677 (permalink)
Elite Member
Melbourne, Australia
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Interactive Brokers/IQFeed
Favorite Futures: ES, CL
 
junyik's Avatar
 
Posts: 3 since Mar 2012
Thanks: 2 given, 4 received

Hey everyone how's it going? I am a day trader here and i'm looking for more ideas and strategies here in big mike. Big thanks to mike and administrators/contributors on this forum. Have a nice day!

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Old March 6th, 2012, 03:12 AM   #2678 (permalink)
Trading Apprentice
Hong Kong
 
Futures Experience: Beginner
Platform: Sierra Chart
Favorite Futures: ES, Crude Oil
 
Posts: 10 since Feb 2012
Thanks: 7 given, 4 received

hi everyone, im new to the forum, come here to read, learn and sharing. thank Mike for this wonderful forum.

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Old March 6th, 2012, 04:23 AM   #2679 (permalink)
tw
Singapore
 
Futures Experience: Intermediate
Platform: NT7
Favorite Futures: EUR/USD CL TF
 
Posts: 73 since Sep 2011
Thanks: 80 given, 12 received


ES500Trader View Post
Hi,


After registering several days ago while still in Chicago on business, I am now back home in Singapore for at least the next 2 weeks and am ready to become an active participant on Big Mike's Trading Forum.

I've been trading for several years using the NinjaTrader platform. Favorite instrument is the ES (surprise-surprise), then the 6E. I find CL to be a bit too volatile. As far as brokers go: I have been using Velocity "forever", but am currently looking for other NT brokers (at the moment choosing between AMP and Optimus). I try to always mind the gap, so to speak.

Old habits die hard. It's not easy traveling all the time, so trading is something I like to do because the intra-day margins are in tact "almost" 24/7 for the ES. With the changing time zones, one thing that doesn't change, per se, is market liquidity. I like this stability.

If anyone has any questions, feel free to send me a message. This looks like a great forum to exchange views on trading in general and on datafeeds, platforms, trades, brokers, and what not.

Cheers! Happy weekend to all.

@ES500Trader,
Can you share your experience trading ES?
I'm too from Singapore. Are you en Elite member of futures.io (formerly BMT)?
tw
mobile:91453828

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Old March 6th, 2012, 04:34 AM   #2680 (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: 45,539 since Jun 2009
Thanks: 28,884 given, 80,126 received



TradeWind View Post
@ES500Trader,
Are you en Elite member of futures.io (formerly BMT)?

Just look at his username, if it is highlighted in yellow = Elite. No highlight = regular.

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.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

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