I'm new to this forum. Seems like a good place so i joined up.
Been trading for 4+ years and have yet to get consitancy.
Been using simple SR with what I guess you could call momentum.
I just read someone say this in one of the threads, "Set a target and hold till you get it, if price begins to stall around a counter entry then let that be your early exit. Not some arbitrary 2R or 400 dollar target."
Might be obvious to others but for me, the lightbulb went on.
I probably have some more blanks that need filling. My goal is to fill em and make some profits along the way.
The following user says Thank You to BGPTrade for this post:
First may I say thank you Mike for creating this forum. I am very new to trading. Momentum trading is my thing. As it sounds like most here I too have been up and down. Key it seems to me is probability and money management. I only trade stocks and I certainly wouldn't have a problem with looking into other avenues, but first things first. I have a lot to learn, but I also believe I may bring some creative ideas. I hope. I look forward to going into this site in detail and connecting with what it seems a very impressive group of traders.
I have been trading Forex for 2 years as an amateur.
I think that it is time to me to diversify and to improve my general skills. It begins by learning from the others and sharing my ideas in order to get a critic view of my errors, and debating of the better ways of analysing situations.
First, my thanks to @Big Mike for creating and maintaining this great forum.
Long time reader, first time poster.
I enjoy reading @GaryD 's journal thread and the honesty and realness he puts into his journal, I hope to do the same with my journal which I will be starting soon.
I trade futures, primarily S&P 500 emini (ES) and Crude Oil (CL). I am a pure price action trader with a major focus on context for entries and exits. I determine context from higher timeframes and enter trades on smaller timeframes based on simple support and resistance (more to come with my journal).
Thank you for your time, I look forward to helping myself and others through this forum!
Last edited by Learn2Trade; June 27th, 2013 at 08:32 PM.
The following user says Thank You to Learn2Trade for this post:
First let me apologize for my perhaps bad English and for possible feeling offended when you recognize any character trademarks, they are all intentended on myself.
Like all, I think, I feel urged by the automatic message system of futures.io (formerly BMT) to post something after so many days and trying so many geat downlodas, sincerely my compliments to all contributing (good or bad). Why compliments for bad? Well, I haven't been able to cooke up any code, so it can't get any worse than that!
For now I parasite on the knowledge of the many more experienced members before me. I do have the intention of payback in due time on some indicators for which I feel there is room for improvement (based on my own laziness)
The only thing I can offer is self knowledge, Like many 'greedy' beginners, somehow I'm having trouble getting my flaws out of my system, I know what they are and I'm working on it. With Papertrading I'm great, but I'm lacking the patience needed with real money trading.
So what are those flaws? I'm a pretty good rational thinker, my analyses are usually pretty close. Success all over you would think! Easier said then done!It is the emotional side kicking in with real money tradin which I need to work on!. I'm working on it, but it's a pretty stubborn habbit! And yes some of you have the same problem, the first step is realising you do suffer from the same syndrome. (admitting is the hard part).
Why am I writing this? Well, first of all I think paper trading will show you the way, but (in my case) it totally different when real money is involved. For newbees like me, I can only hope you benefit from this by recognizing and admitting it to yourself early enough that even you (superman) can make mistakes.
I worked for 12 years for a food manufacturing company in the supply chain area. But, I always had a passion for finance and the markets.
in 2011 I became serious about learning to trade. In June of 2012 I decided to quit my Job and dedicate 100% of my efforts to becoming a successful trader (success= consistently profitable).
The first 8 months I tried several different approaches, without success. In March 2013 found Al Brooks method, and since then I have been focusing on Mastering it. I feel I am on the Right Path now. But I know I am at the beginning of a very long journey.
I currently Trade DAX and ES.
The following 2 users say Thank You to hectormas for this post:
I have been a full time trader for five or six years. I have tried my hand at the ES, TF, Euro, gold and oil. West Texas Intermediate Crude, the CL, is the instrument with the personality that matches my own and I trade it daily. Technically speaking, I am an order flow scalper trading small size. I average 10-20 trades a day of one or two contracts.
I am retired (involuntarily) and can pay the bills without the trading income. But that extra income makes life that much more enjoyable.
The following 2 users say Thank You to Trader Kell for this post: