short trading introduction - early in my trading career i read several Alexander Elder's books. That was good move because it saved me lot of money. In time I moved away from mr Elder's methods because I was always bothered with question - WHY are prices going up and down. Mr Wyckoff answered me this question so I became big follower of his work.
that's all for now, I'm happy to be here - great forum and knowledge place!
After just doing some searching on Big Mike's site, I have to say I have been impressed with the overall quality of the posts, related analysis, and screen shots of various markets and trading approaches. I've been involved off and on with trading for about 13 years. I used to do a significant amount of market research including detailed swing analysis in Tradestation EasyLanguage when I programming Kent Calhoun's 5 Vertical Bar Trading Pattern (5VBTP).
I've used an analogy to explain trading different markets to people and perhaps people might find it useful. Each market (ES, YM, NQ, etc) is like a PGA tour calibre level golf course. Each course is very challenging and even if you are a good golfer (trader) hitting one nice drive is very different from turning in a consistently low score. Each course is well documented and everyone has plenty of info (yardage markers, pin placement, etc) to study and plan for (Mack;s PATS approach, Al Brooks, etc) however the weather conditions (market conditions) and the player's ability to plan ahead as well as react to bad shots really determine your score. In addition, each golfer has their own personal style. I've seen big hitter younger players get crushed by older golfers they have learned 250 yards in the fairway is much better than 275 in the rough. Each player has to develop and understand their style and be able to adjust it to the course and trading is no different.
I am sorry I have not posted. I have been trading stocks for 20 years, mostly just to the upside. I have taken my trading much more serious the this last year and am hoping to go fulltime when I can organize
the sell of my practice or find someone to give it to. I am a family practice MD for 23 years. I know my days are numbered and I know I will be trading. I have always loved to study new trading methods since I was in high school. I've had little time to study with a family and in solo-practice. I love the trading forum and hope to get more involved. Any pointer's to get started???
I'm brand new to this forum and wanted to share what brought me here.
First, I started day trading the S&P e-mini (ES) futures contract about two years ago. Prior to trading live, I spent almost $12k at one of the many educational trading firms out there trying to learn the ropes. The training was great information and a good introduction to trading, but the sales pitch (radio advertising) made it sound like day trading was easy. Being a newbie at trading, I thought there was a magic formula to successful trading and all I needed to do was learn the ropes. I studied and practiced long and hard because trading was to become my new career (after losing my corporate job) and new way of a much happier "be my own boss" life. I had dreams and visions that, looking back, are so ridiculous that I'm too embarrassed to even talk about them! Needless to say, I pictured myself as a mega successful trader.
Well, as you can guess, it didn't work out as planned. Slowly but surely, after funding my account for a 3rd time with a substantial sum of money, I finally came to terms that my dreams of a much simpler, stress free lifestyle was not going to happen....at least not by day trading. This led to some sole searching, thoughts of going back into corporate America (ugh!), thoughts of starting a new business, etc.
I threw in the towel for about 3 months, then came back to trading with a slightly different perspective. The new perspective, which was much more cautious and less ambitious started out with much better results than I expected, but quickly faded into my old, losing ways. Now, I'm just curious if ANYONE actually makes a decent living in the day trading game? That's the answer I was looking for when a few Google searches led me to this forum.
Hopefully, I'll find that it's possible to make a living doing this, but more importantly I'm hoping for some honest feedback.
I look forward to meeting and chatting with you all!
The following user says Thank You to GMoneyTrader for this post:
Recently following a TOS platform thread and ran across this forum. It seems like a very good place to pick up variety information on equity trading. Hope we all keep learning and making money day in and day out!
The following user says Thank You to tknc57 for this post:
I am brand new in this forum. I have been trading forex for almost 3 years now but never had consistent result. I've tried methods and are still searching methods that fits my trading style.
What I'm looking for is consistent result to make money, not to lose it. My searching put me in this forum and I hope I can learn something useful from others in this positive forum to become a consistently successful trader.
Greetings folks, I'm relatively new to the whole trading thing. Interestingly enough, I got interested in trading after landing a job at a trading education firm. So here I am! I'm learning and trying to absorb all sorts of information... I started with Forex and have run b/e on a tiny account, but now am shifting more focus to futures and price action trading. Looking forward to learning all that I can, and interacting in the forum.