I have been a long term style investor in equities for the past 8 years. My experience so far consists of buying and selling stocks based on fundamentals, and picking entry and exit points based on technical analysis. I'm interested in learning to trade futures, so I hope starting a journal will provide some accountability, and help me learn from my mistakes. I will be starting out with a practice account for the first couple of months to see if I have any hope of becoming a profitable trader. I will post the results of my practice trades in my trade journal.
I plan on posting my reasoning behind executing trades, and hope that will help me understand better, why I do the things I do. I also hope that the users on this forum can point out what might be lacking in my analysis, or confirm my reasoning behind executing trades. I realize that results are not always a reliable indicator of good decision making, so my primary goal is to make sure that my logic is sound.
A little background on myself. I'm 27 years old, and a EMT by profession. Over the last 10 years, i've amassed a modest fortune of about 20k through savings, and achieving modest ROI. I'm looking to put half of that to work trading futures. I know Mike recommends 15k minimum trading the emini, but if i blow up 10k, I'm done, at least for a few years.
The following user says Thank You to Hooper Crosby for this post:
Not only am I a total newbie trader, but this is the first time I've ever posted on a forum as well. So I still have a lot to learn. I discovered futures.io (formerly BMT) about a month ago as I was trying to winnow out the chaff from the wheat in the online world of trading. I finally have enough basic trading education under my belt to ask a reasonable question, so I'll be pestering the lot of you for advice once I've learned to navigate the forum.
I retired not too long ago from the IT industry, and am looking to make Forex and Futures Trading a new avocation. I've managed to acquire 25K to get me started, but want to make sure my ducks are in a row and quacking in synch before taking the plunge. So more education and sought-after advice is in store while I'm learning and evaluating various platforms/brokers. Any advice you have in this area would be welcome.
Hopefully, I'll be able to grow my investment in this enterprise and set up college trusts for my four grandkids. That's my long term goal. I chose trading because I love the challenge of matching wits with the market (the psychology of it all). And I'm a tech-head, so TA and charts get me all excited.
Hope to meet many of you here in the future.
The following user says Thank You to Sundevyl for this post:
hello, i'm barevan and i started trading futures in 1982, with small account and with help from a full service broker i blew it all away, but it took me 6 months as the system was churning the account. So from then on i started to learn the hard way and went into options and stocks and anything i could trade, 'Forex' etc, that only took about 3 months to blow that account, so i have realitively a few years trading just about everything there was.
I am now trading an IRA and a personal account of stocks and ETFs. I use etf's to short the market on an obvious counter trend trade coming up to save the account.
Favorite Futures: Forex or anything else that makes me money
Posts: 2 since May 2012
Thanks: 6 given,
Back to help.. no more lurking
I'm glad to be here Mike and fellow traders. I've been lurking for a while now on this forum and I can't deny that I've benefited from the contents here. Now its time to give back!
I've worked for a Swiss bank in the product control function for about 3 years and I must say that I'm lucky enough to get exposed to the financial institution's businesses in one way or another. However, trading the market is very different from when you are watching it on the side lines reporting it. My almost-busted account got me thinking about my strategies and how I should refine them to suit the market activity these two tumultuous years (and don't get me wrong, it's still an ongoing process)
I've started trading forex 2 years back and explored automated trading strategies on FXCM's Order2Go platform (in C++) (more of a feasibility assessment project) and MetaTrader (more of an experimentation), before finally settling down for a more discretionary trading strategy relying on custom indicators in an attempt to read the market better. Markets change in an instant I'm still enroute to discovering what works for me. Looking forward to learn from all the senors and experts here on the subject of trading and coding. Nice to meet you guys!
Last edited by glitzprince; May 3rd, 2012 at 04:38 AM.
Reason: Addition of name when signing off
I'm a beginner Forex trader. My working hours are low and I will be returning to study soon so I thought it might be worth looking into investing again.
My education about trading/investing is mostly to do with Forex, but I also am paper trading stocks with covered calls. I'm just educating myself and getting to grips with it before spending real money.
My goal when I begin trading is to earn $250 a week.
I'm a 24 years old engineering and business administration student from Germany. I have been trading the Euro/Dollar for some 6 years now. Started out cluttering my Metatrader Charts with new indicators every day for the first few years until I started using price action only. After I made this change I started to see some success and felt more confident with my trades as had no urge to change my style every few weeks. Now I'm trying to explore new horizons with trading futures for the first time. I am most interested in incorporating volume into my trading which is apart from price the only real first-hand information the market puts out every tick. The only way I was able to look at volume in Spot Forex was through Candlestick Pattern which is a visual representation of orderflow in some way.
Over the years I have seen many trading related forums and I have to say that the level of quality posts is unmatched at futures.io (formerly BMT)! Especially on Forex-only forums the amount of people who aren't really interested in the process of trading is very high. Being able to trade with 100 Dollars attracts a lot of people who are just there for the dream of getting wealthy with some random-martingale auto trader while doing nothing.
My next steps are to get some screentime with NinjaTrader Sim-Account and once I see some progress open a live account. I still have to figure out what kind of costs I have to expect both fixed and variable. There certainly aren't as much fees and commissions with my retail forex broker. From my current understanding after buying a Single Broker License for NT the only costs will be X.Y Dollars per Round Turn depending on monthly turnover and contract.
I also noticed that there are quite a lot of my fellow countryman on futures.io (formerly BMT).
The following user says Thank You to blackout23 for this post:
Hello all my name is john and I'm 25 years, I have always wanted to try investing in stocks but just never had the time to really learn. The recent passing of my mother to cancer made me take the first step. My dad wants to learn but is not tech savvy and asked me to look into it. I know may of you are very knowledgeable,and will be looking forward to learning from you all.