I´m trading since round about 1,5 years. After collecting some experience with hand operated trading I would like to change to automatic trading. I don´t have the patience for trading per hand. It´s to boring for me and so I tend to do stupid things however I know it better.
Sorry for my partial curios english. I´m not a native speaker and I havn´t some experience in english.
I took a first view to MT4 and NT. I think I prefer NT for backtesting. With the strategy analyzer and the code generator it seems to be a great solution for fast backtesting.
I am a 58 year old engineer who have switched to forex for 3 years. I had a bumpy
start and have came to learn that the best tool is self control. I had built up accounts
of $220,000 and $115,000 but blew it away. I have re-organise my trading style and
am ready to roll in a smart way.
I hope to gather valuable experience from fellow members and share some. I am in
Singapore, a far east country which has developed. May tomorrow be better than
today for all of us.
Farmergumz here. I was a full time farmer until 2013. After trading part time on and off for the last few years, I am now full time trading crude oil this year. I am still trying to settle on a system to follow, sometimes using TAStools, other times trading fades of dollar moves in crude. I look forward to sharing my experiences and learning from others on this site!
Like most that are here, I am very serious about my trading. My preference is Oil, and 100% of my trading is Oil. I keep a close eye on the 30 yr bonds, ES, YM, as they help me guesstimate a possible directional move. Thru the years, I've narrowed down to using only 1 indicator. The RSI with standard settings has been very useful for me in picking tops and bottoms. It's taken a long time, however it's been well worth it. The RSI in conjunction with observing the aforementioned instruments, has taught me patience. I wait for divergence between RSI and price. I only consider trades at high or low RSI readings. My stops are usually set at 13-15cents. When trade goes my direction, I simply follow along well behind with my stop. If trade continues in my direction, I will gradually tighten my stop. Moves in my favor of 20 - 70 cents are not uncommon. If trading multiple contracts, I always take profit at 15 cents, an then set to break even, and let it ride.
I'd pay big money if I could find a clip-on mechanical device that would instantly spring out and viciously slap me every time I even considered taking a trade while RSI is anywhere near mid range! I'm getting better, however this mid-range temptation is my weak spot, and I am constantly on guard around this area. Entering trades in this area..win or lose, are just too painfully gut-wrenching and slow, even if just trying to scalp a few cents. It's just not worth it!
Recently, I came across the Gomi volume ladder. I have watched many videos on youtube concerning the Gom..and It seems to me that it may help me in finding better and tighter stops when entering trades. It appears that it would take some real effort in becoming efficient with the Gom, but the effort looks as if it would be worth the time spent. I'm Leary of any new indicators, but the Gom has definitely got my interest. Would enjoy hearing from anyone that is seriously using this tool.
Thanks for reading. I look forward to exploring and learning on this site.
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My name is Paul (36), living in Prague and I am a beginner in traiding. I have funded my account with IB and plan to trade e-mini YM for the start. I will use NT7. I have got some experience with stocks and catching falling knives. Currently I am trying to develop money managent system and trading strategy and hope to make my first trade soon. P.
My name is Garry. I recently retired and now have the time to manage my portfolio. So I fired the management firm and jumped in. The account is my IRA; so I'm cautious. I started investing when young and got first professional job. Used ValueLine and the like. After growing the account to the minimum to be managed; I went with Merrill Lynch. The account is with Schwab and has about 50 stocks with some other (ETF, bond fund). It is a conservative, diversified portfolio. I want to learn as much as I can about the market and trading. Not ready for day or options trading. Plan to start with fundamentals and chart analysis. I can see myself being long as in buy and hold for a core portion of my holdings. I want to be more aggressive by working in shorter time frame such as 12 to 18 months as well. After mastering these to a comfort level; then learn Options trading. My favor authors, so far, are Norman Fosback ( Stock Market Logic ) and Joel Greenblatt ( The Little Book That Beats the Market ). Actually still working on both. My favor website, so far, is Seeking Alpha. I like the activity here at futures.io (formerly BMT); but think my style won't fit. Any DGI or the like here? Is there an interest in a middle ground of safety and consistent returns?
My immediate needs are:
> some software to track the portfolio; Schwab has most of what I want to track but not in one place. Also need automated dividends as well as the common info and ability to have more than one portfolio (grouping method) to match the separate investment/trading styles, yet share one cash fund.
> trading rules: first joined IBD because there is an active group here using CANSLIM. I especially like the idea of cutting of losses; they recommend 8%. Now studying DGI via the Sleeking Alpha discussions.
Benifitting from BM's webinars I encourage you all
Years I have been struggling to be profitable in this business. Mostly on Sim, but down 75% in real money I got real inspiration from an early Nov 2013 webinar that encouraged me to take only the 99% trades, and not feel guilty that I was not trading all the time. What a difference! I am now profitable EVERY day, and comfortable in every trade knowing that the odds are with me in my trading plan. If I lose, I lose. I know I will gain it back in another comfortable trade. I now feel confident enough to contribute to this FORUM!! If you are where I was, listen to Understanding the Game, especially the Q and A... I learned you don't have to trade at all in a day to be a success. Analyzing the markets for YOUR SETUPS is your job. Wait for your setups and success will come. Thanks Big Mike.
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My name is Nathan. This is the first post that I have ever put on a trading forum, so I apologize if my etiquette is incorrect, I have thick skin so please feel free to respond and let me know if I am wrong in anything I say.
I did some trading in my late teens and early twenties, it was during the boom of the late 90's, so everything tech was going up. I made some money, but at that time anybody could enter long and make money. In 2000, when the market chopped and then reversed I blew up my account. I didn't know how to trade.
Since that time I have gotten married and had kids but with little risk capital I haven't been trading in many years. During this time I have read any and everything I could get my hands on and have been sim trading on ninjatrader, mostly day trading index futures (very mediocre results).
I have looked at fundamental trading, but it does not suit my temperament. I am not interested in swing and/or position trading for days to years (I don't like overnight gaps against my position). I also don't like trading in individual stocks, I prefer indexes, hence index futures. So anyway, I like to trade based on technicals. However, I have over the last year built up a moderate amount of risk capital and am looking to start trading again live. But I am more of a conservative guy and because of that I have been backtesting various setups/entries and exit strategies. However, I am currently at a point of paralysis by analysis. I will identify a setup that looks promising and then devise a strategy to implement, then backtest it. It seems like everything I test does not perform well when commissions are taken into account. I then do that over and over again to the point that I am frustrated.
I acknowledge that entries are the least important step in trading after money management and exits. But if you can't find a half way reliable entry you can't get to the other two parts. I think that my frustration comes from basically two questions that I can't seem to answer. 1) To use indicators or not, and if so which indicators. (I like indicators because they can be 100% objective, but they are lagging and that I don't like). 2. Trend or reversals. Part of me says that trends are the way to go because 1-2 trades can make up for many small losses, but I can't trade everyday due to my job (I will be able to day trade about 3 days a week), so what happens when I miss the big winning trade. Also markets like the ES have so many false breakouts that I get sliced and diced on my sim account.
Sorry about the rambling. In conclusion, I am new to this forum. I am frustrated and confused. I joined looking to start completely from scratch, any help would be grateful. Thanks.
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