I am a beginner trader trying to learn to be a consistently profitable trader. Hopefully this would allow me to be financially independent. I have an account with Oanda and have learnt that I do not know enough to trade in a consistently profitable manner as I have had my account equity cut by more than 75% just by 2 trades on which I was to stubborn to take my losses.... So trying anew....
Hoping to meet and be able to talk to more successful traders here!
I am not new to trading, having entered into this some 10 yrs ago. I used to swing trade on the SPI200 but that burnt me after a while and i blew up my account. Same old story...been looking for a system that makes consistent profits but seem to get burnt purchasing systems that are totally useless and the only one making money are the sellers of these crap and useless systems.
I am a member now of CFRN and they are performing very well. Michael is a great guy and you see him trade live for 2 hours a day and can if you so wish mimic his trades (Futures - Gold, oil, Russell, Nat Gas, Soybeans and more) So he is very diverse and his method does not change with any market. I however have not made money as sometimes I choose not to take the same trades as Michael so it is my own undoing not that of CFRN. The thing Michael does is because he is actually educating you on a system he takes every trade that is thrown at him. The idea is that each of us make $100 on one contract a day and once account reaches different levels you simply increase contracts to improve the income generated. It is by far the only place I have been where you see it happen in front of you and nothing is hidden. He shows his DOM not all the time as screen real estate is limited but he does drag it back and forth to show you his entry and stops.
I just need to have more confidence to replicate his results.
I did look at DTS but feel this is a very expensive system and i am not sure if it performs as well as suggested so always looking for other systems to see what gels with me.
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Need help? 1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first. 2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses. 3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make. 4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance. 5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers. 6) Help using the forum? Watch this video to learn general tips on using the site.
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New to financial investing and attracted to the sensible advice provided by Mike through Youtube. Have no hidden agendas apart from contributing (where relevant) to the knowledgebase on this forum, and educating self towards managing hedge fund ultimately.
I have been trading for a while with a system i developed to beat the system lol. But one day i decided to show off. Guess what? it finally failed causing a huge draw down that took me 10 months to manage back to breakeven. I learned alot during the 10 month period. In fact i am a totally different trader. Trading is all in our head 100 percent of it. Master yourself to Master the world not just trading. The ancient words KNOW THY SELF. and you will find all the answers. I love Trading and i hope i can trade until the AI takes over and we go flat. Peace Love to all my fellow traders even if you are on the other side of my trades i still Love you! By the way anyone use occulous(VR Headset) for trading yet? I finally found a Trading site that i like!!! Thanks Guys very good information from all of you. Keep on Trading.