Hello traders. Just joined this group and looks pretty good so far. Just got into trading futures about a year ago. A friend of mine who trades futures got me hooked and now have been trying to learn how to trade futures successfully. If there are other members here who live in the downtown Chicago area who would like to get together with other traders, I would definitely be up for that. I have found that the more heads there are talking about about their good and bad trades and why, the better one becomes as a trader. Look forward to using this site going forward.
The following user says Thank You to gretzkyless for this post:
I've spent a _lot_ of time at school, first BSc (physics), then BE (mech) and recently PhD (aerospace), while doing the usual odd jobs (bar tender, gym instructor, security guard etc) and recently 5 years as a full time CFD guy (not Contracts For Difference but Computational Fluid Dynamics). In the last two years, instead of pursuing my interest in the physical world, I figured I'd try my hand in the financial one, to pay back my family for those "lost years".
I got an IB account and traded the SPI200 futures contract on the ASX for about 8 months. Without stop losses. Yeh, I know. The vast majority of the trades won, but carrying over night or over weekends I got smashed by a few black swans (e.g. Kyoto earthquake/tsunami). How could I be so dumb to trade without a safety net? I found that the trading outcome is really sensitive to where you place your limit orders. But I also learned how the animal spirits can take over when trading manually. I was not using much in the way of quantitative tools during this time. So I resolved to stop manual trading, at least until I had a platform that could optimise the location of stop losses and profit taking orders.
There are a million and one platforms but I chose to be inspired by JSystemTrader (now JBookTrader) and rewrite my own from scratch. I'm still going after 1 year but its coming together. The thing I really need is data. I'm still with IB and collecting 1 sec bar data. What I'm really looking for at the moment is a long history of high quality historical data for the ASX and US markets in particular, ideally tick and book but I realise thats a lot of data. The IB data is fairly limited and I imagine there is data out there used for serious backtesting which someone might consider sharing?
The following user says Thank You to hoogs for this post:
Firstly just wanted to say it is good to find this site and look forward to being involved. This is a first for me as I have never used or been part of a trading community before!
Some background, I have been interested in the markets for many years and put on my first trade approx 15 years ago from there it took approx 2-3yrs for my account to be "nickel and dime'd" to death, a very frustrating and painful experience. A few years later I started again and have been trading ever since on a part time basis with my share of successes and failures. Consistency has been my main problem whilst a very conservative approach to risk management my savior (I now risk 0.5% per trade). For the last 5yrs I have been profitable but not enough to make the transition to full time which I want to do. My largest frustration has been a tendency for good periods to be followed by bad and then have to battle my way back. Consequently this year is about reducing that cycle and being more focused. therefore I am focusing my attention mainly on 1 market (unless volatility dies) and sticking to with trend setups only.
My goal this year is to reduce emotional mistakes, forced trades via impulsiveness and deal with my weaknesses as a trader. That means being very consistent on the admin side, using a journal, self observation and catching myself before I repeat a mistake.
From an analytic perspective I use swing analysis, EMAs and momentum across time frames for trend and idea determination along with MP and key events to mark key reference areas. I then drill down to lower timeframes for IB, pauses or retracements for execution, with a holding period from 1-3 days, rarely longer.
I wish everyone a happy and prosperous year
The following 2 users say Thank You to alecs for this post:
I have a day job (software developer), but on the side have been trading stocks, options, fx, and futures for many years. I wrote an automated trading system (trading ES emini) using IB Java API, but was slowly losing money. I realize that I need a good back testing system, and see that this site discusses these systems. I am currently focusing on stocks/options and want to get into a system that has good back testing.
This seems like a positive site, so I am looking forward to participating.
The following user says Thank You to Livingfuel for this post:
I´m a czech teacher of spanish and I´d like to learn about how to become a daytrader.
First I read some books about indicators. After I tried to trade live (ES,FDAX,...)but after taking some courses and advices I gave up before blowing my account.(I had just good luck)
Now I know I have to study first and I hope here is the right place to do it.(My friend recomended me this forum)
Sorry for my english I know is not 100%
The following user says Thank You to Alanelcheco for this post:
I have been a member for a few months; mostly I have been watching the webinars. The webinars are great and I have enjoyed watching them and learning. My goal is to trade full time, at the moment I am learning as much as possible and saving up.
I’ll try to participate as much as possible.
The following user says Thank You to bonechills for this post: