Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.
Need help? 1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first. 2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses. 3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make. 4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance. 5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers. 6) Help using the forum? Watch this video to learn general tips on using the site.
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I am glad to find this fantastic forum, I have already learned so much from the vast amount of information on this site.
Thanks to this forum, I started using Ninja trader with my IB account, so much better and easier execution. I heard about Mack's trading system, I am learning that now. I was encouraged by posts from Big Mike and VinceVirgil to keep at it, don't give up the journey of finding what works for you.
I have been trading since 2001, started with Options, learned Iron Condors which worked somewhat but lost big chunk on one bad trade, it was not my style, moved onto the YM using Bollinger Bands, had a mentor for a year, but I just could not make it work. I really learned a lot through him and feel grateful for his time. Tried programmed trading through Trade Station, got one system to work for a month. This last two years learned Volume Spread Analysis, in sim trading on daily bars had some success, in real trading was breaking even.
2012 got laid off..... so took one year to learn how to day-trade, joined a trading room with VSA on ES, learned a lot, but not my trading style, last 3 months trying to find my day-trading style that fits my personality which is more along the line of Mack's PATs trading style or maybe VinceVirgil's style. I went to a trading psychologist, she recommended some Inner Child work, very good book Recovery of your Inner Child by Lucia Capacchione, also meditation, which helped me remain centered and increased my clarity. Other things were to lose weight, regular exercise, balanced diet, cut back on coffee, joined a speaking group to expand myself, quit gambling (3 times a year visit casinos for family gatherings, loved playing craps). I report all of my trades every day to a trading coach. The effect from all of these non-trading activities was to increase confidence, learn ways of my thinking could be holding me back, release childhood emotions that effected my trading. Like others have said trading is not only about the trading system but you, you are the holy grail. I have not yet achieved my goal of successfully day-trading but I will continue to press forward on this journey, even though I have to return to a regular job soon.
Thanks to everyone I wish you well on your own journey.
I welcome any comments
I blew up my account during 2009 after I earned a paper profit of almost hundred thousands USD. It is a lot of money here in the Philippines. I am back and determined to correct my mistakes. I will take responsibility and be accountable on my action, past/present and future.
I even told myself that I will take trading as a lifelong journey of learning and experience.
I signed up to Big Mike's a while ago, but this is my first post and introduction.
I am JP and I have been a full time trader since 1983. I started out trading on the floor as a local in 1983 and in 1999 I made the transition to the screen. I traded Bonds when I was on the floor and dabbled in the grains too, but since I left the floor I mainly trade the ES. I look forward to be here as a new member.
Hi, ive been trading for about 10 months.. I want to build a solid trading plan and learn how to keep journals,,to eventually build confidence up and and trade successfully live one day. I have been sim tradeing CL & GC. Im looking forward to meeting people on this forum and talking about trading. I try to talk to some of my freinds and about trading but they have no clue, so talking to people with The same interests will be helpful.. Thank you and good luck trading
I look forward to sharing ideas about trading even though my actual trading experience can be easily characterized as slim to none. My expertise lies in the tools used to trade. Currently, I am finishing up a trading software package and the last steps in proving it's capabilities is developing an interface between Excel 2013 and Ninja Trader. Every good program, no matter the subject, needs to have a good feedback loop to demonstrate to the programmer what works and what degrades performance. Currently, I have an internal feedback loop that it based on mapping the changes in S&P Emini 500 to ask/bid configurations. So, within my program the feedback loop lives a reasonable life. On the other hand, a feed back loop taking place in the Ninja Environment is saying to himself, "I wish I were never born. The ask bid ratio and slippage can eat you alive in real-world trading.
So what I would like to do is to create a static data base of about three weeks of tick data that can be played back through Ninja... the same data time after time. Then, as I make improvements in the software, we will be able to measure performance in a way that will never be questioned. I already have a 500 MB file on my hard drive with tick data from the first of this month until today. I just need to figure out how to export this data to Ninja so that Ninja can play it back to me while I apply trades to it. The idea is to qualify this trading program, which I have named Picasso, over a three week period and be able to see the results in an hour or so.