Hey guys/gals, Springger from the Caribbean here. First post, in here, but I've lurked around these parts for quite a few months. Once all goes according to plan, hopefully I'll be lurking in the elite section shortly. For now, its lurking, learning and then posting.
Not quite a newbie to trading, I've been down the spot FX road. Like few others, I fell for the "Make Millions of this little known trading secret," that cost quite a bit and coupled with an unscrupulous broker out of the UK, I learned the real value of risk money. After a bit of a break, and some advice from a some one whose only source of income comes from day trading, I started looking at the futures market, as a regulated entity, vs the cutthroat nature of the spot FX markets.
I've been slowly learning the nuances of Market Profile and following up on FT71's style of scalping, following his reviews from right here on BM. From there, once I understand the concepts I'll go through a period of demo, followed by a period of live testing and tweaking. I intend to start a journal so that I'll learn as I go forward, from loosing trades, to break even and finally to profitability. There it is, my plan! Its not much, but then again there is always the edit button.
-Started trading stock options 15 years ago with Jerry Olson before trading chat rooms were common.
-One year later using Linnsoft IRT on a Mac I started calling Nq trades to a broker over the phone...15-20 times a day.
-2 years later moved to trading Nq emini in paltalk trading rooms with people like davebquick,buffy,dbpheonix etc.
-No one I knew traded or even talked about Es at that time.
-Spent time in Teresa Lo's chat rooms on different chat platforms.
-Then roamed paltalk for a few years causing trouble for scammers selling room subs/lying to people.Kingfish ring a bell?
-Moved to trading Es exclusively and started studying Market Profile.Both Dalton's and Pete Steidlmayer's concepts.
-Quickly made the transition from candle chart price action/pivot point trading to Market Profile exclusively.
-Played a major role in what Linnsoft IRT became with the development of Market Profile.
-IRT Volume Breakdown was only (buy volume - sell volume) when I pushed for development time on concept.
-Gave Pete Steidlmayer's CapFlow32 a year before dropping it...too many crashes...it's not even realtime...30 min updates.Not a day-traders tool.
- continued to trade purely with Market Profile while pushing for advanced concept implementation and features
-6 years ago developed HFT signals that are mostly humanly impossible to execute...ahead of my time I guess.
- stayed out of chat rooms and remained incognito ..this after realizing HFT/Algos were here for good.
-which began the search for a less discretionary method while trading through the wild 50 point Es days
-after years mastering Market Profile with some 20,000 hours of screen time burned into my retinas...realized in 2010 the concepts started to become unreliable for me as a result of the changes taking place in the markets.
- instead of classic MP moved to a Market Profile/Dynamic Profile method...what is now becoming known as "structure or time " variable ...breakout profiles.
Now going on 2 years in between taking time off while simultaneously delving into an ALGO/HFT/DP combo method and only trading in the mornings I have the desire to start pushing the envelope once again.
Joining the bot wars.
Last edited by mpxtreme; January 11th, 2014 at 07:58 AM.
My name is Engelbert and I am from Ontario Canada. I am just amazed at the wealth of information available on this site. thank you Big Mike.
A novice to trading - I have a passion and ambition, a New Year's Resolution to absorb as much knowledge as I can to start small and target a goal to one day making trading my profession. I'm currently working in I.T. Space. Storage, Mainframes, Vitualization, Data Centers .etc.. I love what I currently do but I have this attraction towards understanding how to become a successful trader.
I've always been looking at the markets as a fundamentalist. So my plan is to switch gears and take up TA as an approach.
I look forward to unity and binding from users within this forum in attempts to learn and as time progresses to eventually be in a position to teach and share experience.
Much respect to everyone and wishing you all a prosperous 2014!
Geez, I made so many posts on Big Mike since signing up yesterday and should have started with this one here yesterday.. after all, there is no more of a proper way to make an introduction than here!
I am originally from Vilnius, Lithuania (speak English, Russian, Belarussian, Lithuanian), having moved to London for a free years and currently in Chicago for ~ 6 months. I traded from there (UK)... indeed, got interested in trading when living in the City. Originally traded using X_Trader, but then found Ninja. Eventually opened up with AMP and now use NT/Sierra/CQG Trader.. The first two for charting and indicators, CQG Trader for execution. Trade oil, gold, euro, ES... basically anything very liquid. I train on micros, but the liquidity is just horrid. M6E has about 1/50 of the volume of the 6E, so there is slippage and gaps in charts.
Kind of upset about these new CME fees kicking in, but my broker assured me that since I have a funded account already, I won't be dinged until Jan 1, 2015. Well, at least that's nice.
I consider myself a newbie even though I learned how to trade commodities in the 1990s, at least the concept. My goal is to learn as much as possible and not make bad trades, thank you in advance for having this great forum I have read so much stuff I don't understand, but have a deep desire and willingness to learn. In the past 3 days, I have read 2 full trading books (over 900 pages) started programing ninjascript - I can't get enough I truly love this and one day hope to make it my career !!
I graduated with a BA in Anthropology and then went to business school. I had the terrible idea of making a living trading stocks in 2011 which, as you all know, was an easy year to make money. I did okay in 2012 also, then going into 2013 I blew up my account trading TSLA. I am focusing more on orderflow, and money management to prevent this situation form happening again. Looking forward to starting a new year, and not blowing up.