I'm from Monterrey Mexico; about 5 hours drive from San Antonio, TX. I知 41 years old and have a financial background; I知 an accountant with an MBA, working for a big multinational Mexican corporation at the strategic planning department, but my passion have always been the financial markets. I began my career in the financial sector as an international securities specialist for a brokerage firm (10 years ago) and I have been trading on my own with regular results (inconsistent) for 12 years. I have very good knowledge of the U.S. stock market and good understanding of stock options strategies.
My dream always has been to become a full time trader, making a living dealing only with my own money. The problem is that my current day job (that I hate) is very demanding and also the cost of opportunity to leave a monthly salary is too high and at this point uncertain.
I致e had tried to develop a swing trading strategy that allow me to have the best of both worlds, a monthly salary and an extra income from trading, hoping that someday my trading earning would be great enough to allow me to quit my job and just keep trading for a living. The reality is that I知 trapped doing neither of both, because I spend too much time watching the markets distracting me during my regular working hours which leads to underperform at my duties (with all the risk that implies) but on the other hand I知 not doing much with my trading.
At this point I知 focusing on learning all I can about day trading to build a solid strategy, methodology and business plan to give me the confidence I need, the problem is that with my current day job I don稚 even have the time to practice during regular trading US markets. At this point I'm doing sim trading with the ES when I got the chance and also reading many books and articles about day trading.
I also enjoy sharing my experience with others and I have found there is a huge market potential to teach and coach people here in Mexico, because every time I start talking to somebody about my investments in the international markets I observe a big interest from them. I知 talking about well prepared people at executive levels on big corporations, they have a business background, but they do not know anything about investing in the international markets, yet they are very interested. I just start a small trading club with other fellow traders here in Monterrey.
I'll appreciate any advice you could provide...
You may try avoid trading US stocks/options during regular hours. Maybe European futures, in your early morning, Globex futures, or Forex ?
I've been in the same situation, and think now it's very hard, or impossible, to be profitable when you trade during your regular working hours.
Except with an automated strategy, when you just have to click on the start button in the morning, and watch the results at the end of the day...
Or maybe in a very very very cool job, without phone, meetings, team-mates, boss, ...
Success requires no deodorant! (Sun Tzu)
The following user says Thank You to sam028 for this post:
I think this is a very common problem which keeps many enslaved to the grind. Check out Forex and the London Open. 24 hr very liquid market...A lot of very good info on this forum as to trading in general. You will lose some sleep but may gain some freedom. Try to avoid the 100:1 margin suggested by Forex brokers. You will have to find a market you are comfortable with but tech analysis is tech analysis regardless of market... good luck
Slow and steady wins the race. Set a daily, weekly, monthly profit goal....don't sleep until you hit it
The following 2 users say Thank You to websouth for this post:
Some great intros here, thank you all for sharing especially thank you to BigMike for this web site. This was a great find when doing a search for NT tutorials. Really look forward to this third kick at the can so to speak.... a humble lol
A public appology to my mentor, you know who you are... for me taking this long (3yrs, two blown acc's and a year spent saving to try once more...) to sit down and figure out it's not about the market it's about me..... Doubling or quading up on position size to make up for a negative trade... trust me it does'nt work. Emotion trading, because I just "knew" what the market was going to do... hmmmm... did'nt know nothing, I could go on and on. Finally I had to sit down and decided that okay maybe there is something to what my mentor was trying to say (you rock M). Guess what, it "is" about me. So while I was sitting on a park bench listening to the sounds of the city, Toronto, with it's sirens, traffic, people talking, kids playing, it happened, it really happened. I know it sounds goofy but I entered the zone. I became aware of everything around me all at once and just sat there listening and watching, I was even aware of the sources of sound behind me. And it struck me, what an awareness, I can no more move it or impact it by my emotion or decision than the insect can move me by crawling accross my shoe at that very moment "this" is the market. What I can do is respond to it, move within it, navigate it and make decisions based on what it is doing at that moment. Pride, predudice, greed, sorrow, personal circumstance or "any" personal emotion has "absolutely" zero impact on what the market is presenting at that moment or the direction it is about to move. What a moment, what an epifany for me. You cannot socially interact with it, it cares less for who I am then I could ever imagine, it's cold, heartless and very hungry, but it is predictable. So this time around I have been enjoying much "sim" success. When I get ready for the day I take time to review my mindset, review my charts and get ready, I no longer counts the dollars, I simply go after the tics, dollars will take care of themselves.
I look forward to contributing and learning from all the seasoned traders here and gladly donate monthly (what goes around comes around). Thanks BigMike I am indebted to my mentor and guys like you who don't "find it and quickly lock it away."
Anxious for round three...
The following 3 users say Thank You to eministrader for this post:
Thank you Mike for having such a great place for us to exchange and share ideas. Im very happy to have found this place. I have been trading w Mt4 for so many years but needed a change. I'm now exploring NT and enjoying it very much. I look forward to learning more.
The following user says Thank You to bobby1 for this post:
Im looking to learn a thing or two about trading and help others out in the future. Ive learned how little I actually know. I like the simple pnf charts and working on price action with very few indicators. Ive got a full time job and its shift work so im off a few trading days every week and i record the markets while at work to increase my screen time. Been reading the Psych and Manage parts to trading and I know that I have a long road ahead. Ive already opened a few doors In my head by reading some of the Psych stuff. Thanks to those willing to spend time with new traders like myself, its not always said but your help is greatly appreciated.
I've been involved with Ninjatrader for about a year now, working on my automated strategy. Doing some good stuff, I think. But one of the areas that I'm getting hung up on is the apparent difference between Ninja Live (Demo) and Replay data. This apparent difference when running a replay file prevents my strategies from firing when the live ones did.
To really see the difference, I decided to write a small ninjascript. It just writes tick data to the file specified. I am attaching the ninajscript (PrintCurrentBidAsk.cs) and 2 sample output files from after hours testing (~10:30 pm EST). One sample is from the Live (i.e. AMP demo feed), the other is from the corresponding the replay file. Historical bars seem to be fairly consistent. You really see the difference by searching for "Tick 2" ... the 2 nd tick of the 1st non-historical (i.e. real time) bar.
I trade the ES and really only use one system now. Just a couple of indicators. Have bought a lot of stuff in the past, all worked out poorly. Funny how many people are programmers here as that and engineering were my past professions. Looking forward to reading and learning from members here as I don't know another trader anywhere. More than willing to share any information I have that can help those just getting started.
Best of luck.
The following user says Thank You to rg96 for this post: