I'm slef-developped fulltime trader and so far traded price action patterns I noticed and tested by myself. I trade purely on EUR/USD - basically working whole day with 7-12 trades per day in average 5 days a week.
I'm trading without stoplosses and in both directions buy/sell - time to time I'm using hedges on few open positions but it happens rarely - basically 2-4 times year.
When I started two years ago, I made my 1st +100% within first 3 months, then I doubled account again after another 3 months so I felt like a king. Within that time I felt really relaxed and did also some good positional trading so I understand the power of relaxed and consistent psychology.
However, when you start and you are from the begin so profitable, it is very hard to keep your discipline and focus. I did not big time frames analyses precisely and in September last year, my nightmare has started as I was forced to close my first huge stoploss position: cca -30% of account I earned so far and at the end of 2012 another -20%. Since that time my psycho works against me and all the year I'm constantly loosing in a pattern: I earn +20% on top of my account (it is slower as I lowered size of my positions dramatically), but after two months I usually take a stoploss which take all the profit back, plus some small portion of account. Irony is that cca within 2-4 days after my take of stoploss market turned back. This had happened 3 times to me this year. I decided to change my trading dramatically and tried to find the way which I can go further and stay in markets. I found that I need to learn basics again and understand really what the market is doing when I'm looking on charts, as I was constantly missing signs of ranging vs. trending markets. I've got already some ideas so I hope this site can help me to adjust my methodology and rebuild correct and consistent approach to trading.
As there's a lot of crap on internet about trading, I noticed that your site looks different and I hope and want to believe that it really is extraordinary. So thank you for your welcome and request to introduce myself.
My name is Dimitar, I'm Bulgarian. My case is very strange because i know about trading since 2009 from a friend, but i was reading books about indicators and a lot of useless stuff for a 3 years. I wasn't serious about trading, because somewhere insade me some voice telling me this is not right, you can't do it in that way. And the moment of illumination came, I was found Joe Ross and Al Brooks books. Now I'm learning price action, and I feel comfortable. I'm step further to fund account and start gaining experience. The forum is very good and friendly, and I think is the best place to have conversations about trading.
English is not my native language, sorry. I'll do my best to be understandable.
So far I have just used theirs, of coarse I set my own perameters. I love them.
“Enter by the narrow gate; for wide is the gate and broad is the way that leads to destruction, and there are many who go in by it. Because narrow is the gate and difficult is the way which leads to life, and there are few who find it.
I will be glad to share any good info I run across, I am very new so I will just be learning for a while now, I am looking for Tradestation tools. I have been trading futures and some options and forex.
I am new to futures trading, starting out in oil and gold. I have many years experience investing in stock and index options. Investing thousands in trading systems/software, some advertised on TV, only to loose thousands more in my trading account. But I have not given up! During the past year I have been studying Market Profile, trading psychology, and tape reading. I have been having some Ah Ha! moments and feel I am now on the right track; but still much more to learn. I am currently trading in sim using Ninja Trader until I am comfortable using real money. This is an exciting journey of self discovery and learning new skills. I learned about your Forum through Invest To Success. I am currently enrolled in a Time Trader class there and it is going well. I would recommend it to any new traders.
I am relatively new to the site, and also new to trading. I have taken a big step today purchasing my trading platform and getting my broker account sorted. Looking forward to participating on the forums, I know I have a lot to learn, and hopefully in time I can contribute too.
Hi all, this is my second go at day trading futures. Lost my first shirt, managed to get another one... so here we go.
My pick is the e-minis, crude and gold on NT platform with Mirus futures... but open to suggestions (just not negotiable with NT). I look forward to learning from the amazing store of info and experience on this site... Kudos to Big Mike for your ongoing site support/maintenance etc. It's guys like you and your members that help to encourage aspiring traders, especially second time rounders.