I've been building M&A models at a bulge bracket investment bank for 4 years but I'm totally new to trading. So in the last month that I've been playing with a sim account in Tradestation, I've discovered that my financial modelling background makes me very disciplined (and emotionless) at following trading plans and managing risk. I think in rules and if-then statements.
So my main goal is to develop automated momentum trading systems for intra-day equities, based mainly on price and volume action. So I'm trying hard to find resources to learn from.
Hello I m interested in scalping futures I really like the crude oil i must say this site has more information on it than the last 25 sites i was on combined its nice to talk to real people instead of someone trying to sell something the elite membership is totally worth it
Been lurking for a while, thought I'd make an intro post (bonus...the banner at the top saying I haven't posted anything for ~2 months will go away!).
I'm relatively new to active trading. I've mainly only held index mutual funds - fairly low risk, and zero thought process. Will continue to do so. However, the exciting high stakes world of futures trading is calling.
I'm a software engineer by trade (mostly C, device drivers/OS kernel sort of code for embedded systems). So what first attracted me to active trading was the automated side of things. I joined this forum for the plethora of great examples for indicators and trading related math. It's been well worth it. I've made no real trades, but have learned quite a bit. Also very quickly learned that automated trading can be complex...that's
OK...plenty of time to work on it.
I've done quite a bit of sim trading over the last few weeks, evaluating different systems and indicators, and have settled on something I'm going to try out discretionary. I'm sure it will be a learning experience.
If I come up with anything I feel is worthwhile, I'll be sure and post it. Maybe I'll start a journal (maybe not).
Hello everyone, hope i am in right place for posting this, i subscribed to Big Mike's a while back and never made an introduction, so here goes. I started trading stocks about 15 years ago part time, then switched to futures because i only had small account and got tired of pattern day trading rule, recently found out about FT71 and joined Stage5 and learning from FT on futures trading, took the last year off to take care of personal problems and now can finally get back into trading. So thats the short version. I see lots of good information here on Big Mike's and hope to be able to contribute at some point, been doing lots of reading and listening along the way to get to a point maybe i would have something to offer to others. With all my trials and errors in trading the volume trading of FT has really made the light bulb start to flicker, it has made the most sense of anything i had done in past. So that will be my focus. I notice a lot of others on here follow FT also. Look forward to conversing with all of you. Thanks, Paul
The following user says Thank You to racecar for this post:
Hi folks, not sure I will be in a position to contribute much at this point. My trading journey is just beginning and so far has had more downs than ups. When I saw the pragmatic advice here on Big Mike's I became a lifetime member. I am a big fan of the Gom work, still trying to get used to trading with it. My focus is to learn ninja trader so I can start to ride a trading strategy but with data from Kinetick or such.
If I had to say the style of trader I aspire to become is more like a sandshark, based on the book by James "RevShark" DePorre because so far indecision has cost me more money than I have made. I'll twist up RevShark's stuff with a focus on volume price analysis and here my favorite here is Anna Coulling's books. Mainly because she helped me make sense of the really old books on tape reading, the really old wall street classics by Rolo tape and such. I like the classics and if you have not read Welles Wielder's New Concepts in Technical Trading Systems yet it is worth a trip to a university library for a read but it is old school. Last but not least Jim Cramer's new book Get Rich Carefully is pretty cool. Sort of explains why stock picking is getting harder and how to go about fundamental assessment, with some nifty short cuts on doing all the homework.
By now you can see I love to read and research trading maybe someday all this book smarts will make me some extra spending money. If I can work out my trading business plan like John F. Carter recommends in Mastering the Trade I may yet make real money trading. All I can say is it just seems you have to go through the school of hard knocks learning and several blown trade accounts before you get to the point that you can manage your emotions and trading as a business.
All I can say is thank you to all who contributed to Big Mike's site, I've only spent a few days on it but the stuff I found helped me out a lot already. Don't laugh but I have traded everything except futures, okay I'll admit badly. Then I tried FOREX and so far FOREX seems to work for me, which is really wild considering how fast you can lose a lot of money trading curencies. Let's just say it keeps me on my toes and its helping me learn to be much better disciplined on money management.
I know you've all heard this type of stuff before and if anything I happen to mention helps you find a nugget of trading wisdom to improve your game, or helps you revisit your favorite trading book, may it bring good fortune to you. Studying trading is a lot like reading the bible you have to re-read it often and every time you do, you learn something new and relevant that helps you improve.
The following user says Thank You to TheOldGreyWolf for this post:
Greetings and Happy New Year to everyone in Big Mike's community. I'm very happy to be here as a new member. I hope to have something of value to share with you all.
I'm a beginner who has been trading for many years. I had the misfortune of making some large profits when I first started out, and incorrectly concluded that trading was an easy way to make a heap of money. What I've found instead is that trading is an excellent way to overpay for the privilege of discovering the weaknesses of one's character...and a challenging thing to do profitably day after day.
I like the pace of the thinner markets, like CL and NQ, but have learned to stay away from the maniacally thin, like SI.
I'm a discretionary trader. I use volume profiling to identify my levels and order flow to make entry decisions.
I'm also a hack programmer, which is part of the reason I'm here at Big Mike's ... I hope to learn some tricks of the trade from some of you experienced designers of Ninja indicators and strategies.
Best to all, and good trading!
The following user says Thank You to OneLot for this post: