most new guys without a mentor have no risk management strategy, my figure is high to be more clear I was thinking of a small retail futures trader with less than 50K, which is alot of what is out there, risk no more than X%, .50%, 1% just have a plan. I hear what you are saying. I will look around here and see if there is a thread on position sizing.
I have been active in the market for 18 years, but have made some good "opportunity trades" here and there and want to learn more. I last traded QQQ and made a small profit. I don't keep a trading position overnight, and have been setting stops. I am cautious and have a lot to learn about trading. That is why I joined this forum.
Pretty much 2 years studying how to trade. Looked into forex then thought i was missing info so switched to futures.
Nothing fancy yet, here and there a winner then a loser. I guess it's break-even not factoring in trading costs.
This forum seems to be civil and well organized and might offer a basis for exchanging ideas, thoughts etc.
Hi All. My handle hear is jgentle and I am "new" to trading. Not that I am green but I haven't done anything in nearly 12 years so I am starting from scratch. Since I am so new I will most likely lurk for a period of time and ask a few questions if I can't source them from the search function. Developing a good EOD paper trading strategy is the short term goal. Others will follow as time allows. I wold like to begin trading in earnest by the 1st of the eyar. We'll see. :-)
Thanx for having me and for this sight. I'm looking forward to being a productive member of this community.
I have been a member of futures.io (formerly BMT) for a while, but have not been very active until now.
I am not yet trading live. I work full time, and only can get to trade in the evenings which equates to 2pm - 4pm EST with no new trades after 3:15pm (I am located in Cape Town, South Africa)
I have been trading SIM in the evenings as I have become more confident and comfortable with my methodology. These limited hours do provide a challenge as there are significantly fewer opportunites, but nevertheless have been able to average 1 and sometimes 2 trades per day on the ES.
My methodology is based on order flow, market profile and cumulative delta. I have received great value from the futures.io (formerly BMT) webinar series, particularly those by FulcrumTrader and FT71.
I've been in the trading game for about 5 years now. I started with Forex and now trade the CL. I've been very inconsistent over those years. My emotions are what get me into trouble - I have pinpointed it to the fact that I hate being wrong. Just admitting that was a huge step forward for me and I haven't looked back - and coupled with meditating things look great.
I started trading in 2005...full time right off the bat!
I was excited about joining an industry that was tough to succeed at...and then, BAM...BAM...BAM... 6 months later...$120,000 lost and lots of crying...I got spanked hard... I came within $852 of blowing out my account...
I kept studying and trying to learn as much as I could...and then, things turned around for me. I virtually never left my chair in my office for about 13 months...studying and watching the markets about 18 hours a day...month-after-month.
Here it is more than 7 years later...I count myself as being very, very fortunate...I am one of the few, who made it over to the other side. This is all I do for a living and it is still very much fun...I sincerely believe that this is the best business to be in...in the entire world.
If you are new to trading, stick with it...the rewards are AWESOME when you make it to the other side... being a profitable trader.
You also get to continually learn and study as time goes on...it is a beautiful lifestyle.
Hang around with other positive people who are traders...forget the rest. You don't need negative people in your life.
I've been trading since 2007 off and on. I still consider myself a beginner. I've gone live twice and blown my account up sort of. Lost more than I wanted but stopped the bleeding and took a month off as I worked thru psychological issues. I'm not looking for the holy grail. But am hoping to find that consistent disciplined approach will bring profits enough to live off of and work from home. I enjoy following and learning about the market/world economies.
I use NinjaTrader and love it! I'm learning to code and am not very good at it. Really just want to backtest certain ideas to give me more confidence in the probabilities of certain trade setups. I want to be a discretionary trader but be supported by backtesting. I'm hoping to learn how to be a better coder and understand how to better backtest strategies in NT.
Good luck to everyone, always appreciate any feed back or help. I'll spend some good time reading thru these threads.