Summer '06- Started with a seminar. Started reading a bunch of books (Think And Grow Rich, Trading For A Living..), websites etc.
Early '07- First live trade. I would spend the next several months trading at $32 per round trip on a small account ($3-6K) and STILL ended up about $200! No fear...
That summer, I took out a loan, did well for a couple months with my $50k account then proceeded to fall flat on my face with 8 losses in a row. Financially I controlled the risk. Emotionally, I was ruined.
I've since had isolated periods of profitability which has left me slightly down over my 7+ year trek. My attention turned decisively towards psychology and management of self in late '08 when I started my blog "OnlyTheMomo".
Hope to hear from other like-minded traders soon!:
Thanks for having me guys..I can see from browsing thru the forum this is a very positive place and I look forward to contributing in the future. My trading journey has been a slow patient one, of learning, watching, paying for education, reading, practicing, etc. My curiosity for the markets developed after the tumble into the recession a few year back and watching the pain that my older family members and friends were going through with their retirement accounts. I was inspired to take control of my future...I had some initial "lucky" success and realized that it could not be that easy. The process has been a lot slower than I expected...but that is OK because I have developed a lot a patience for this game, something I wish I had more of on other aspects of my life. I am currently developing my trading plan and mostly paper trading to find a time frame that suits me. Thanks to everyone for their contributions - I look forward to adding to the discussion.
Since paper trading in high school I have always had a fascination for trading. I currently however have minimal (average joe) experience with some stock purchases, index based ETF and mutual funds. I am now planning on getting seriously into trading and fueling this passion. My professional background is software development and architecture as well as information security (the risk management aspect should be handy in this new endeavor).
I now have surface knowledge of ETF, Forex, Futures, etc. Currently, I am focusing my efforts into really understanding what I am about to do with intricate details. I am learning about value vs growth stocks, fundamental analysis and technical analysis techniques and all the indicators available, etc. I have been reading information from many web sites and started to read some fantastic library books as well.
I have toyed a lot with quite a few pieces of software (both desktop and mobile), so far my favorite finds are ninjatrader, the thinkorswim app and barchart.
I will be taking a slow approach and master the subject and tools first then formulate strategies that I will validate via paper trading. Only when this is complete will I start my real portfolio. Therefore, this should be a long and hopefully fruitful journey!
Any and All advice will be much appreciated.
Thanks for this fantastic resources Big Mike and looking forward to learning from and contributing to the community!
do you use fib from which company - I use and have nexgent3 auto fib generator if you want to check it put let me know and it also have trigger lines with different setting there is a lot to trade beside lines as this market not anymore works on indicators alone
hello can you show me your micro- trend approach - and what about the big trend - you must know before you enter major trend and risk of the day that you can handle or your account will be losing before you know it - we have to know what is the current day trend not what the news trend and forget about news from cnbc Bloomberg when trading them bulshit and make you creasy - what the chart and major pivot are tell are true then what the tv story