Hello, I've been sim trading the ES and beginning to take it more seriously as my skills have been improving. I've read many posts here on a variety of topics and been pretty impressed with the forum. I originally registered here more than a year ago but this is my first post. I appreciate past and forthcoming insights from all you members, I hope that some day my insights will give good guidance to the guy thats wears the shoes I wear today. Thanks for the opportunity.
I am a complete beginner. In fact until 3 years ago I had no knowledge or intention to ever start any type of trading. Then I realized that with my salary I was not going to be able to pay for my kids' college and that idea almost killed me.
I looked around for any possible way to increase my income (multiple streams .... anyone ....)
I took money from my CD's to invest in education, I took money from my home equity to invest in real estate, and I took money from my 401K. This did not happened all at one. It took me about 3 years to basically waste a little fortune.
My problem is that I don't have much time available and after spending many many night awake and feeling really tired in the morning, I had the brilliant idea to look around for companies that could manage my investments.
I found a real estate investment group and "invested" in several projects that were supposed to provide us with a passive income. No income was ever realized and we are now fighting to get our invested capital back.
I then looked at the trading side. I selected a company in Chicago and opened a managed account investing in commodities futures. The company had a positive track record with average returns between 10% and 30%. They managed to kill my account in 6 months. Of course I let them do that since I did not realize what was going on until it was too late.
I also in parallel subscribed to a newsletter with autotrading options on indexes. Again this is a company that had delivered high results for the past 7 years and all their trades were published and certified.
In this case it took about 1.5 years. The account was stable until about last month when all trades were wrong and eroded all capital invested.
This had been very hard for me. Not only I am still missing the money for my kids' college now I have accumulated more debt then ever.
I am not giving up thought. I like the idea of becoming a trader and would like to trade my current job for a professional trading career if I can just find out how to make it work.
I look forward to interacting and networking with all.
Thank you for hosting the forum. I am a recent retiree. I spent the last year educating myself on technical analysis, fundamental analysis & behavioral finance. I look forward to sharing the investment/trading experience with others.
The following user says Thank You to CCB001 for this post:
I found this forum because it was being bad mouthed on ET.
I'm looking to share ideas and methods of swing trading stocks.
I've been playing the markets for over 30 years. I can remember having to phone a broker to place your trades and commissions of 3% per side. Ah the good old days!!
I have day traded in the past but found that it took to much of my time and was way to stressful. I now spend a couple hours a day on the markets and spend my time more productively chasing a little white ball around a golf course.
My trading methodology is trend following. Buying dips and breakouts. I mainly look to the long side as Canadian tax law treats short sales as income and long as capital gains. I look to inverse ETFs in a bear market.
I'll be looking for threads that discuss anything to do with swing trading. Hope I can contribute.
Hi everyone - I began trading close to six months and just learning the ropes. I made some money but lost big just this week. I would like to learn the basics of charts and build the discipline to have confidence in my trades. I wish everyone much success as we learn from each others mistakes and triumps! Happy Tradings!
Hello everyone, I have been trading on and off for some 5 years now. Trading forex partially and blown more than two accounts as on date. Have been discouraged to the core with trading, but not willing to give up.
Have been through indicator land looking for the elusive holygrail and am finally with the best of best indicator " The price itself". Only recently the bulb lighted up on the saying I heard long time back " Only buy when the previous candle has closed above the high of the recent down candle and viceversa". I have come to realise no own knows the future and it is best to manage risk , cut losses quickly and let winners run. Hope to learn from this community and give back as my trading improves.
I started into futures about 6 years ago. Like most new traders I thought I had enough knowledge to quit for my job and become a "Professional Trader". Within a few months of inconsistent results I started getting frustrated and started a search for the perfect set-up.
Six years later...I have traded a lot of different instruments and tested hundreds of set-ups. I have surely concluded trading is discipline, control of emotions and tons of patience. The market will give you what it will. You surely cannot insist of getting the same results everyday.
The journey has just begun....I will surely update this forum where it takes me.