I am kind of new to trading. Haven't actually traded real money, which makes me wet behind the ears. But, I have studied and read enough to give me a college degree. That doesn't make you a good trader. I started with Forex thinking it would give me some solid understanding of trading.Which I am sure it will, but after looking at the retail platforms I started thinking, maybe Forex is a different ballgame than stocks. I believe it is. And also cheaper to practice, most accounts are minimal. I came across this site, and it has the best info as far as videos that I have seen. Despite what other Forex sites tell you about being able to learn by just reading and studying there material, I have found especially for a beginner that actually watching someone do it, makes it a bit easier to understand and you get to see and hear other viewpoints by watching instead of just reading. So these videos help a lot in that respect if only to give just a footprint of actual trading. So I hope to learn from this site and maybe become an elite member, I'd like to catch some more of these hard to find vids.
Peter from Denmark... Beginner in SB that want to learn fast and get reich,,,
Over again... Want to learn be inspired and maybee get rich - allready after two month of trolling traderforums reading and wondering - am I blessed with many interesting thoughts - so even if I dont get rich - its seems like a very nice waste of time. I you know what I mean, eh...
I am a full time daytrader living in Oslo, Norway. I been trading full time since 2004!!
In 2002 a friend gave me a book about daytrading and I found it very interesting. I read another book, and I was suddenly caught of the idea of becoming a trader. For the next years I was reading everything I could about trading and opened my first trading account. I soon found out that working as a computer engineer on daytime and being a daytrader on evenings was wearing me out. (the opening time for the US market are 15:30 to 22 in Norwegian time zone). After a lot of considering I left my day job, sold my car and went full-time trading the spring of 2004!!
After about 1.5 year full time trading I was breaking even, but didnít make any money for a living. So I said to myself, if I donít start making real money out of this soon, I have to go back to the computer business. Itís isnít that exciting as daytrading, but it will pay the rent!!! By chance I read an article about ďmechanical system tradingĒ, until now I had only tried discretionary trading. Something ďclickedĒ, I found out why donít I combine my engineering skills with trading?? And so I did, my first trading system was a version of open range breakout, and suddenly I was starting to make money!!
Itís about 7 years after I found my style of trading, and I still holding on to algorithmic trading. Looking back I have to say I was VERY close to give up, and I guess it was just luck that got me to create my first profitable trading system.
Iím currently using Interactive brokers and Rightedgesystems as my trading platform. Over the years I have been trading US stocks and futures. For the moment Iím only trading futures.
Great forum, donít know why I havenít discovered this site before!
I started doing well when I quit thinking about winning and how much, instead I focused on risk control and once I had than down my trades improved significantly. I still work fulltime and I trade daily YM corn and oil futures.. Corn and YM are a little boring but I can trade and make a profit in daytrading. I make most of mine on daily treades and I will be in for 3-5 days. The ES has prof. traders with large volume and will eventually eat you up. Trade with small contracts until you develpe confidence and then it will fall into place..
Yike's! That must hurt. Spend all that money and time and don't make a dime. Me myself, I haven't lost any money, but I haven't put up any money either. Trading sounds like a glamorous thing to do. Big time trader, easy way of life, get rich, buy a yacht. Live in a big mansion, travel. I haven't thought of being a pig about trading, but it would be nice to make a living and not have a boss to worry about. Or a regular job. I do know there are people making money and lots of it. I believe the top traders start in the 6 figure income range and go higher. I have seen these traders talk on news channels on TV and they are out there. I guess they discovered the secret. Myself I have resigned to making this a hobby unless I can prove to myself that I can actually make money as a Trader. Only time will tell. Sorry for your loss, maybe it can turn around.
I have been learning what I can after having done a Forex trading course. I have read lots of threads on this site and find it to be an invaluable resource. I have always believed it unlikely I am the first to ask any question so Google is my friend. I kept coming back to posts on futures.io (formerly BMT) so I signed up. I would recommend it to any new trader as a good place to invest some time.It will save you lots of money and effort and help you avoid the charlatans.
Favorite Futures: 6E, 6A, ES, NG, CL, and Stock Options
Posts: 2 since Jan 2013
Thanks: 25 given,
Without a doubt, this is probably one of the hardest things to learn. I am glad that I am part of this forum and I look forward to reading great posts from all types of traders. Is a lonely career and a forum like Big Mikes creates a community of professionals sharing the same passion and helping each other.
I am new to this forum and will be trying to be more active on it.
Best of luck to all !