I've joined this forum to further my trading education and to learn to trade using price action, price footprints and market delta, tools that are new to me. Like most Forex traders I have been down the "search for the magic" indicator path, only to realise that it is the people (and machines) who makes the trades, are what has to be studied.
I started my "Forex quest" 3 years ago, and realised very quickly I knew very little about this business, and fortunately had the good sense to make a decision not to spend big money until I knew what I was doing. Being a bit of a perfectionist I'm still learning, and still in the process of creating a system that is predictable, reliable, dependable, adaptable, and of course profitable.
Ultimately it is the computer between the ears that is the hardest one to program, because it is already running several default and defective programs that can blow up an account very quickly if allowed to run. It's not what you know you don't know that is the problem. It is what you don't know, you don't know that is the real problem. In other words total ignorance, and the spot Forex brokers love these kind of traders.
So my quest here is to fill those knowledge gaps, learn how to read what the "market" is thinking, anticipate its moves, and move right along beside it, not before it nor behind it, like a matador in a bull ring, stepping out of the way just in time because I read its mind. Tall order you might say, but if you can't read the bulls mind, you will get mauled, and I don't want that.
Great trading everyone,
Hi Mike, Hi All,
This forum was recommended by a friend who is an elite member, so I joined.
I have been working on my trading for a few years, had a go at full time futures day trading a couple of years ago, stopped due to some external issues. I am about to give it another go. Hopefully I will go well. I also trade ETF's longer term and will continue to do so. I have been told this is a good helpful forum, I look forward to exploring it.
I will be changing over to NT from ESP for futures in the coming weeks I expect, just trialling it now. I use DT6 & Hot Trader for The ETF's.
I'm in my third year of trading.
Lost 20% of my account the first year another 8% the second year and I am just treading water now.
My main problem is not being patient and waiting for the setups.
I trade too often when I get bored and my intuition is usually on the wrong side of the move.
I use the TOS platform and started selling option premium which has helped my account.
Otherwise I basically trade futures - break out and reversion to the mean trades but I haven't been watching order flow and my platform doesn't support delta.
I'd like to learn more about order flow and market delta but I am concerned about adding cost to my trading by changing platforms to support a more detailed order flow.
I am assuming it will add to my cost because I have not yet researched the different platforms, brokerages and data costs.
I look forward to participating and becoming engaged in a sector of trading I am not familiar with.
I was trading stocks in my country market since 2 years now. I did have some profitable trades like probably most of us, but unfortunately I also had a lot of failures. Basically with my stocks trading the problem was for me that I didn't have a targets set from start, I only set the stop limits, so the exit on satisfactionary profit level was always very hard and became too emotional, due to this fact, some good trades I had (like 70-100% within 2-3 months) became a weak trades because I was getting out in a hurry almost picking up the 'falling knife'. This and a fact that the stock market isn't going well here at the moment (in my opinion) I tried to investigate some other possibilities and then on some forum I've found interesting information about day trading, NinjaTrader, futures, Eminis etc. Althought in the past I have tried to play with FOREX and MetaTrader platform including some automation (as I'm a programmer), however at that time FOREX seemed too volatile and complex to me in comparision to the ol' good stocks. It was probably due to fact I've read some books on candlesticks chart patterns and alll these innumerable fancy indicators, that stock market seemed more appealing to me.
My target is to educate and learn at first and then when I'll think I'm ready (if at all) I'm gonna open a brokerage account that I can use NinjaTrader with and give it a try.
So, again - Hello to All of you, and wish you only a great lucrative trades !
Glad to become a member of a community of growing traders.
I've been learning to trade for the past 4 years. Lots of Ups and Downs. Tried a lots of thinks to succeed in trading and all those made my trading a complicated one. Having said that, I did not loose my account. Traded very cautiously and very little.
Now i dont complicate things in my trading. Learnt that trading NEED NOT BE COMPLICATED. Rather it can be SIMPLE.
Some of the lessons i learnt from the markets: (might be useful to new members and the students of the market)
a) Markets are always right.
b) Magic is inside ME and not outside.
c) Dont add to a loosing position.
d) Exit when you CAN and not when you HAVE TO.
e) Dont worry if you missed an opportunity, you will always have another
I use Volume Profile for the direction and use CVBs on charts which gives clear structure of the market.
Want to learn from the senior members about Order Flow Analyses and Foot Print Charts.
Thanks Mike once again for this opportunity to share and learn
Thanks for your time managing this site for traders. And I got a lot of help and information from this.
I am new to program trading. I think using program trading is the best way to avoid emotional transaction.
Hey everyone at futures.io (formerly BMT),
I have been working at learning to trade for several years. I think the biggest thing I have learned so far is the ability to control emotions while trading. 2013 seems to be a turnaround year so far for me as a trader. I have like most been through many ups and downs and could probably win a contest for some of the stupidest things I have done while learning to trade. I have thrown away a lot of money over the years on educators, indicators and trading systems, and believe now that most everything you need to know about trading you can get for free somewhere. I am looking forward to learning everything I can from everyone at futures.io (formerly BMT), Dan N
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