I am sorry to hear that. I am also one blowing account regularly. Finally, I stopped doing it by using stop loss on my each trade. Always trade with stop loss and follow only one or two indicator. That should help you. Thanks.
Hi everyone, I just joined the forum a few days ago. Someone recommended me to the site and I decided to become an elite member!
I've been trading Forex for about two-ish years now. When I started back in 2011, I had no idea what I was doing. I followed every stupid strategy that looked good without understanding it. I started with just trading the crosses of Stochastics. I took a lot of losses that way. Then I moved on to trading the crosses of the TDI indicator, which, I know for some works well. But, for me it was way too simplistic and I didn't like jumping into trades anymore when there is a cross. Then I moved onto another system that was simply based on "if all lights are red, go short and vice versa" and that didn't work out too well for me either.
Finally, I decided to educate myself and understand the basics. In that time I finally found a system that incorporates price action and all the basic fundamentals of trading. It is an amazing system. Now, I can finally say that I am working towards my goal and able to support myself and my family with just trading forex. I plan on leaving my full time job to dedicate that time to trading. The same friend that recommended me to joining this website also showed me Ninjatrader and Futures. I think Ninjatrader is an amazing piece of software, and eventually I plan on also trading futures as well. I see a lot of people on this forum trade futures.
Sorry for my rant, I hope this year we all make it a profitable one for ourselves and for those we love.
Last edited by johnnypips; March 2nd, 2014 at 12:01 PM.
Hi Mike et al. I'm a neophyte to actual trading, although I've been fascinated with financial markets and trading lore my whole life. I'm a corporate attorney (but please don't hold that against me) in my mid-40s, and I'm looking to learn as much as I can from others. Thanks for putting together this community --
I've never taken the time to introduce myself. I am 27 year old male from Austin, TX. I am married with two daughters. I am self-employed, I own a Web Design / Marketing firm that specializes in marketing for healthcare and hospitals. In my past I have raced motorcycles, played bass in a band here in Austin (had our song on the radio), I used to work manufacturing for Samsung creating DDR RAM chips.
In 2004/5 I paper traded the ES, I sat in a trade room watching some idiot blow his and everyones money. I traded for 5-6 months but never funded an account because the margins and commissions seemed crazy to me at the time.
In 2008/9 I bought Ford stock @ $1.80 a share, my reasoning was it was really cheap, they had billions in cash, and didn't take a bailout. In 2012 I sold it all at around $16. I used this to create my business, quit my day job. Summer of 2013 I started looking into emini trading again got a demo and started trying to make it happen!
I opened an account in August, blew it out by Oct/Nov. I have since went back to demo, studied BPA style of trading and worked very hard on myself. I am opening a new account here in the next week or so and will live trade the M6E. futures.io (formerly BMT) has really brought me and my trading the a new level.
The following user says Thank You to tturner86 for this post:
I just joined this evening. I'm a futures trader for over ten years now. I've been through the whole route learning tons of useless stuff, always searching for the right combination of indicators, software, gurus, yada, yada, yada, trying to get an edge. Finally found it with Market Profile and Auction Market Theory. It's been an expensive education and I'm just about to go from paper back to real money after spending the last year+ paper trading and proving to myself I can actually make money now. You know the story, blow your account out a few times looking for the holy grail before the light finally clicks on. Got the mind set and a method that makes sense to me. Also looking for anyone that uses Neoticker. I absolutely love it for my charts. Nothing better out there imo. I stumbled on this site looking for info on the Zenfire debacle a while back. This place is great cuz there isn't any flaming going on. Outstanding!
I just want to say I have read about this forum several times. So I finally decided to check it out. So far seems great. I like to trade the Emini's most of the time. But I do trade Forex USD JPY every once in a while. I am fairly new in trading the Emini's but I do prefer that market. Use Price action. Did a fair amount of studying, ( still am ), Using Al Brooks books and course etc..
after stumbling across this forum a few times over the last years, I have finally decided to join.
I am a 30 yo old guy from Germany, only trading the ES. I began trading six years ago, like most people, with the retail forex world which worked, to say it carefully, not too good During the years I came to futures trading and have sticked with es only, which has become my favorite instrument and I have watched it presumably thousands of hours already. My day begins witch checking market action overnight in the shower...so much for passion (or addiction )
I use mainly wyckoff principles and volume based indicators, value area and reading bars as well as correlation between indices. my trading style involves scaling into positions intraday, keeping initial risk at the same level, risking floating profits for bigger positions than I would have opened initially.
Looking forward to meeting some other people form Germany here as well!
The following user says Thank You to leveraged for this post:
I don't even know if this will get to you but thank you for your kindness in welcoming me in to your trading group. I have been going at it since the rooms of Hotcomm and I used to work with Ray when he had the idea of making a front end and that was exciting because, as you know, we are in the trenches and engineers CANNOT make great trading software-PERIOD. As mush as I should stay the hell away from anything that needs mechanical precision.
So I gave him all the things that were horribly wrong done with the best intentions. It was a long time ago and I am glad he finally found some consistency yet it's impossible to be on top of every techno advance out there. I enjoy trading EVERYTHING and ran rooms a long time ago but had to give that up because I just couldn't say no to people who were close to greeting it. Some people spent weekend night on the phone with me 20 years ago until it all clicked and I HAD to pass that on--Pay it Forward I guess.
I started a music website in 1995 and flew up to my old home in Seattle to get the 41st merchant server ever issued by Microsoft to do commerce on the internet. It was the wild , wild west and extremely exciting. About 7 of us busted down doors and pounded pavement to advertise on this new thing called the web.
If Sir Tim Berners-Lee would have never walked away from the "Super-Collider" in Cern Switzerland, who knows where we would be. I sold the merchant server to Billboard and kept a fraction of everything that was rung up and after the years it spent at Tower Records, well I never found it again to collect but it was the excitement I truly most enjoyed.
That is what trading does for me and as far as discipline...well I have the patience of a bipolar flea after 2 pots of coffee and I always made my money trading outside of the box. Trading with nothing but 2 blended indicators then only from price but I get too influenced by the TRIN and everything els that is moving I really prefer the silent slow progression of the indicator and I can tell exactly what the price is at any given moment and that is what I like about it.
Last summer a friend gave me a "tradency program" a couple days before I left om a family reunion. I kind of new what it was but I thought what the heck. At the time I was not familiar with the FOREX as well as the other products but all you had to do was turn it on- and thats it-come back in 4-5 hours and there is a huge pile of cash out of nowhere. That first night I turned it off and felt dirty and I gave the money to my nieces and nephews for their education but THAT is what WE are up against now.
I have been battling a few health problems from beating my body to a pulp when I was younger and it keeps me from maintaining any consistency on a daily basis to trade. Some days takes me 3 hours to finally get out of bed but I am alive and kicking and will be rebuilt shortly.
I LOVE YOUR DEDICATION AND SOMEHOW WHEN I WAS READING OVER THINGS I HEARD YOU SPEAKING WITH ANOTHER TRADER AND APPLAUD YOU FOR YOUR PROFESSIONAL ACUMEN YOU HAVE GATHERED OVER THE YEARS- ooopps- sorry for the caps and I'm not going back to type it over!! But your integration of trading skills as well as listening to the world and what might "possibly" happen on any given day, You are dedicated, generous from what I heard for well over an hour and tremendously curious which I find to be the most remarkable trait I could pinpoint in that time.
I have met allot of "pro-traders" over many years and the charlatan train of bozos never stops and to know you are out there made me tremendously happy. Money is a very, very funny thing and is capable of destroying the absolute strongest bonds and why I find your selfless attitude even more the remarkable for what you do for a living .....AND>>>>> help others to potentially reach some form of financial independence. You are a fine man, that I am sure of!
More rare blood tests and cuts and fixes for me but there is nothing I like more to relax than to focus on 1 thing and as you do, help others make money. I feel blessed I was able to be that fly on the wall-- wasn't planned I assure you-- but will forever be grateful and when I CAN drop in on you I hope yu won't mind one more person at the table!!
Be very well Mike and best regards to you and all those you love~