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Introduce yourself here!
Started:June 10th, 2009 (08:43 PM) by Big Mike Views / Replies:531,168 / 7,063
Last Reply:2 Hours Ago (05:26 AM) Attachments:50

Welcome to futures.io.

Welcome, Guest!

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Introduce yourself here!

Old December 18th, 2009, 11:25 PM   #391 (permalink)
 Vendor: www.ezcolortrading.com 
Cambridge, Ontario
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Zen-Fire
Favorite Futures: 6E
 
Posts: 1,773 since Dec 2009
Thanks: 1,258 given, 1,194 received

Additional Don'ts

I paid a lot on the following DON'TS:

1. Do not hold on to a Long position losing trade when the market is oversold.

2. Do not hold on to a Short position losing trade when the market is overbought.

Note: Oversold/overbought does not mean the market will move to your direction! I listened to my ex-mentor (who told us the market was extremely overbought and would be sold off very soon - never happened) and held on to my SPX credit spreads for weeks until I closed the position at $2K loss (paid the market 10+ times more than what I got)!

3. Do not make your trade decision based on HOPE! (I used to hope a lot that my losing trades would eventually work!)

Some very important DOs for me:

1) Want what the Market wants.
2) Trade with the TREND (Trade according to the candle in front of you).
3) Only do high probability trades. For example, minimal or no counter-trend trades and avoid trading during lunch breaks.
4) SOH (Sit On Hands) when there's a news announcement that will move the market. I forgot once and was in a trade when the Chicago Sentiment came out. Got stopped out within seconds and filled at an 8-point slippage - gosh! Luckily it's YM and not ES.

Those are some of my lessons.

Beth

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Old December 19th, 2009, 04:37 AM   #392 (permalink)
Just starting out...
Malaysia
 
Futures Experience: None
Platform: Tradestation
Broker/Data: Tradestation
Favorite Futures: NQ
 
Posts: 1 since Dec 2009
Thanks: 0 given, 0 received

I am day trading the NQ futures, with a modest system to make modest profits, aiming for 60 to 200 per day only, on 2 contracts to start. Have a twitter.com/emacro, which I try to journal the trades as they happen.

I also trade the fx.

I hope to network and learn to expand my trading horizons.

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Old December 19th, 2009, 08:41 AM   #393 (permalink)
Just starting out...
Paris
 
Futures Experience: Beginner
Platform: Stellar
Broker/Data: Schneider
Favorite Futures: DAX future
 
Posts: 3 since Dec 2009
Thanks: 0 given, 0 received


Hi all,

I'm a day trader from Paris...I trade the future DAX less than one year. I'm enjoy to join this community.

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Old December 19th, 2009, 02:30 PM   #394 (permalink)
VIP Member
Newark, Illinois
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Amp Futures/Zen-Fire
Favorite Futures: ES
 
hansonk's Avatar
 
Posts: 4 since Dec 2009
Thanks: 5 given, 5 received

Beth,
Sounds like you're headed down the right path. I just have one bit of advice. (if you don't already know?) When you have multiple indicators, unless you need them all to agree before taking action, some will say yes and some may say no. Just be sure you have written(and therefore repeatable) rules for each case. And as you said, simple is usually better.(Occam's Razor)

However, don't forget what (Einstein ?) added," but no simpler". Just my two cents. Enjoy the journey!

Kurt

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Old December 19th, 2009, 03:39 PM   #395 (permalink)
 Vendor: www.ezcolortrading.com 
Cambridge, Ontario
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Zen-Fire
Favorite Futures: 6E
 
Posts: 1,773 since Dec 2009
Thanks: 1,258 given, 1,194 received

Futures Edge on FIO

Are you a NinjaTrader user?

 
Thanks Kurt for the reminder. Yes, if and when all or most indicators align, I will dive in without hesitation .. smile .. If the 7500 and 3350 volume charts do not agree and I decide to enter, I will minimize the no of contracts to 1 + having a tight SL. I plan to use mostly the top 3 indicators for trade set-up and entry plus certainly the KP rules like 2Up/2Down. The bottom 2 may warn me "choppy or undecided market" and SOH.

I've polished my indicator list a little bit and will settle with the enclosed for now. They are on a 23" monitor and I can see them clearly.

Mixed feelings (both excitement and "fear") for the new year when I will trade on live. It's great that my daily game plan will keep me focus. I will not over-trade for sure esp when I hit my profit target or SL (hopefully not) quota.

Have a Great weekend.

Beth

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Introduce yourself here!-es-03-10-12_18_2009-7500-volume-.jpg   Introduce yourself here!-es-03-10-12_18_2009-3350-volume-.jpg  
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Old December 19th, 2009, 03:53 PM   #396 (permalink)
Elite Member
New York, NY
 
Futures Experience: None
Platform: NinjaTrader
Broker/Data: Zen-Fire
 
Posts: 10 since Dec 2009
Thanks: 0 given, 12 received

Hi all,

I guess like many here I am fairly new to trading and the insight that I have seen in this community looks great. I'm still trying hard to understand if I can really make some money doing this.

Oh, I'm based just outside New York City.

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Old December 19th, 2009, 04:04 PM   #397 (permalink)
 Vendor: www.ezcolortrading.com 
Cambridge, Ontario
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Zen-Fire
Favorite Futures: 6E
 
Posts: 1,773 since Dec 2009
Thanks: 1,258 given, 1,194 received

Market Wizard Insights Video by Jack Schwager - Free to Watch UFN

My trading friends love the subject video and it's free to watch at the following:

http://tv.ino.com/free/

It's the second video from the left. They have a short promo v-clip (less than a minute) before you can choose the featured video you want to watch. I forgot if it's a 60 or 90 minutes video. Enjoy!

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Old December 19th, 2009, 04:07 PM   #398 (permalink)
Just starting out...
Boca Raton, Florida
 
Futures Experience: Intermediate
Platform: tradestation, ninja
Broker/Data: Tradestation TOS, IB
Favorite Futures: YM NQ
 
Posts: 2 since Dec 2009
Thanks: 0 given, 0 received

Just joined this Forum. Moving over from Tradestation to Ninjatrader. Been trading for 3 years. Equities, Options and YM and NQ. Looking forward to soem great leaning experiences.

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Old December 19th, 2009, 04:40 PM   #399 (permalink)
Elite Member
Northern California
 
Futures Experience: Intermediate
Platform: Ninja Trader
Broker/Data: Amp Futures/ Zen-Fire
Favorite Futures: YM and CL
 
Jeff Castille's Avatar
 
Posts: 2,119 since Jun 2009
Thanks: 1,785 given, 3,275 received


wgreenie View Post
Thanks Kurt for the reminder. Yes, if and when all or most indicators align, I will dive in without hesitation .. smile .. If the 7500 and 3350 volume charts do not agree and I decide to enter, I will minimize the no of contracts to 1 + having a tight SL. I plan to use mostly the top 3 indicators for trade set-up and entry plus certainly the KP rules like 2Up/2Down. The bottom 2 may warn me "choppy or undecided market" and SOH.

I've polished my indicator list a little bit and will settle with the enclosed for now. They are on a 23" monitor and I can see them clearly.

Mixed feelings (both excitement and "fear") for the new year when I will trade on live. It's great that my daily game plan will keep me focus. I will not over-trade for sure esp when I hit my profit target or SL (hopefully not) quota.

Have a Great weekend.

Beth

Beth,

I am very concerned when I see all that stuff on your chart. Has this set up proven itself to you over a reasonable amount of time? If so, then perhaps my concerns are misplaced.

Jeff

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Old December 19th, 2009, 05:03 PM   #400 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 45,552 since Jun 2009
Thanks: 28,888 given, 80,183 received


to all the new members!

This thread is for introductions. Please take method discussions out of this thread and either start a new thread or find an existing one where you can discuss this in more detail.

Thanks!



Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

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to support our community, become an Elite Member.

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