Mike - I discovered this forum a while back; a few months after that my mentor in trading, not knowing I was already visiting, suggested I look up the site. Seems the good stuff rises to the top all on its own. Thanks for the good work, good perseverance on your part.
I received my introduction to the idea of futures trading about 2-1/2 years ago. No spare cash to risk at the time...
I started to read. Over time I asked questions of my friend and mentor who has years of trading experience. Kept the kindling burning...Studied "The Disciplined Trader." Watched the markets. A few months ago, I received my intro to NT, and have been studying ES charts and practicing replays and real time like mad. Been saving my pennies, too.
Now it's time; I am preparing to select a broker and fund my first trading account. (no fear, it's only money and I've lost it all before. What, me worry?)
I enjoy the great content, you have helped build a fine community here. I look forward to pitching in one day soon.
Thanks in particular for the many trade journals posted here. Those are, IMHO, an indispensable learning tool.
Here's my story. When I was a child I was fascinated by TV shows live from the stock market pit: people acting frantically, plenty of figures written on a big board...alas, I was too young to trade. I didn't choose to study finance, as a geek I chose computer science. Soon after I graduated, internet stocks were all the rage, and I was hooked again. Thanks to deregulation and web brokers, I opened my first account in 98 to trade stocks based on news, “funny mentals” and guts. Then came the crash. My portfolio almost collapsed due to excessive leverage, concentration and short-term focus. Big losses were not the most damaging: psychological damages turned me, a gunslinger, into a chicken.
Then I decided to have a break for studying money management and technical analysis. In the process,I discovered commodity trading systems. Due to my computer background, I thought it could be easier to get an edge in this area. So I started writing systems and trading futures long term, with some success. Encouraged by these results I turned towards stocks again, studying every investing method I could find and finally developing my own long-term stock investing systematic method (growth/momentum). After that recovery, I focused on short-term trading again. Back in the discretionary game but on different beasts: bonds, oil, stock indexes, major currencies. Alas, I still feel the consequences of my early losses, avoiding too many valid setups, trading too lightly after a few losses etc...Although I am making some money (trading is now my main revenue source) I am still struggling with my psych. However, things improve slowly: I can feel my confidence coming back month after month. I am amazed by how much money I have left on the table by being overcautious.
I have developed good day trading methods and efficient tactics to avoid any severe loss; I am experienced enough to get a good feeling in some markets, I am well (enough) disciplined. I need to make progress in detecting trading opportunities, developing my confidence, paying attention to my feelings, keeping my ego in check. I also intend to pass the CFTe exam (personal challenge), and open a blog to help casual stock investors.
I am an irregular reader of futures.io (formerly BMT) forums for a long time. I won't connect every day, but will try to post a few times a week if I can help/propose things for thought. After 15 years in the game, I think it is time to give back to the community. I am well-versed in Amibroker so I can help in this area too. I use it for backtesting, charting, detecting setups, stock investing. Previous user of Ninjatrader, some Perl scripts. Last, I am French and live in Paris. I hope my poor English is understandable.
I've been trading stocks and options for a little over 10 years now. A few months ago I began learning about futures and day trading (not necessarily together). Every time I google a question about futures or trading, threads from this site pop up. So I've been lurking this site for a while, but finally decided to get involved and post something (incidentally, this is my first post on a forum... ever).
I've been going through Al Brooks's books and Mack's Price Action Trading System. I like the simplicity of Mack's system, and have been trading it in NinjaTrader sim with mixed results. I'm also an electrical engineer, so the idea of developing/programming/testing autonomous trading systems is something that appeals to me. Perhaps a trend following system...
Anyways, I hope to continue to learn from you guys, and contribute where I can.
My handle is Millionaire2 and I have be trading in a professional capacity for almost 22 years and on the corporate level for the first 9 years , I am pleased to find a group of traders that love and have as much passion as I do for the profession. Because I find that the average person that attempts to trade does not realize that trading is serious business , its not a game or a hobby !!! LOL. Trading is a serious endeavor , that a comptent person can make an honest and fantastic living from , if they understand that it is a business , not just fun and games !!!
The following user says Thank You to millionaire2 for this post:
Although I introduced myself a few months ago, I'm still new to trading. This morning I had a breakthrough in my trading education. After 3 months of reading, research, and even joining Big Mike's, I realized that I still don't know squat about the market. I'm learning to trade, yes. But understanding what's going on between the buyers and sellers in the market I'm trading, NO! This is significant! Thanks for all the incredible information on this forum.