I'm a n00b US stock trader who is hoping to turn trading into a living. I know how risky swing trading can be for a
n00b but I'm a fast study and worse case scenario is I lose my trading money and have to get a real job (blowing
my account does not put me in a cardboard condo.) At least I'll have experience instead of student debts and an
My plan-so-far is to look for stocks with good evidence of a continuing up-trend that can yield at least 3%+ before
hitting the first resistance I see on the chart. I like to limit my losses to a maximum of 1% but would risk 2% for a
stock I feel has strong potential of 7%+ before first resistance.
On paper I'm good at finding both stocks that have a well established daily up-trend and stocks that are two to
three daily bars into a recovery with volume as a confirmation of the potential trend. I've been setting support and
resistance lines just by looking for periods of sideways movement.
I'd say I have two glaring weaknesses that trouble me. My primary concern is my inexperience placing live trades. I
understand how it works and I tried to account for slippage when pricing my paper “limit orders”. I may be
confident that I have a “reads futures.io (formerly BMT) posts” level of knowledge but that is no replacement for money lost to n00b
The other major concern is my total reliance on a bull market. If I can't find solid bullish potential I'm back to paper
so I can figure out how I want to screen and play the down or sideways market.
Once I'm up and trading I fully intend to start a journal so I can learn from the feedback. Give it a few years and I
might even get to pass on what I've learned through losses and losers.
Quick n00b question: I won't be trading my blood (err... real money) until about next week at the latest but I have
been screening the market and writing my night-before-thoughts on the stocks I want to watch. Would it be OK if I
start a journal with my thoughts and then just include my actual results when I'm up and trading?
I am Chris. With the beginning of this year I decided to become more active with stock trading with mixed success. Did Ok for the first three months of the year, but in the recent downturn I got caught with my pants down having too many small caps in my portfolio and not having stop loss orders in place. Some have come back recently, others are still down significantly. I have been doing a mix of day trading and swing trading, but want to concentrate more on day trading.
I seem to do Ok in most cases, but for whatever reason I have that talent to sell stocks right before they breakout and while I settle for measly 10 cents here and there I miss out on bigger gains. Kind of the same thing applies when I put a sales order in for a trade that does not seem to pan out. The moment it reaches my (mental) stop loss and I decide to place a sell order it drops fast and furious causing larger than necessary losses. If I use a physical stop loss order, I seem to pick those stocks that drop fast and deep, trigger my stop loss order, and once I am out they recover and often even go into green territory. ... At least that is how it feels to me.
So, I am trying to learn more about candlesticks patterns and indicators. I do expect to lose money while learning, but sometimes I think I should trade the complete opposite of what I am doing and would make a ton of money. duh Anyway, overall I am kind of at a breaking even or are slightly in the red.
My name is Vasily. I'm trader from Moscow. I'm trading since 2008 on US markets and have a lot of ideas to implement in code, but have not very good skills in coding, so I'm looking for some help and good examples of code.
I'm very new to trading, and also very socially shy so you likely won't see me posting publicly much, though of course if I learn something useful I won't hesitate in sharing it with others on here, if I learned it from someone on here. I'll mostly be keeping to private messaging. I am literally brand new to trading, and want to dedicate my disabled self to something I'm actually capable of doing for the rest of my life. Please PM me if you have any tips on complete newbie courses and good software for someone nearly broke looking to take the shackles off..
The following user says Thank You to Dedrick for this post:
Platform: Meta Trader, Trade Navigator, TransAct Active Trader
Broker/Data: Cannon Trading, TransAct
Favorite Futures: FDAX, CL Crude Oil
Posts: 1 since Jun 2014
Thanks: 0 given,
Another new one
I've got the link to your forum from my broker. I'm hoping it's possible for your all to read my english because I'm writing from Germany and haven't a lot of experience in working with a forum in english. I'm trading the future markets, especially the FDAX and Crude Oil. In my beginnings I tried to lern trading with (e)books or other articles. But trading seems to be to easy, when you just learn it from a book. The biggest mistake is the emotional side of trading. I think there is no chance to get this part of trading 'under control' just by reading a book. So after losing a lot of money, I decided to look for a (great) coaching. That's what helped my to get serious in trading an started to create own strategies.
That's my story.
And after I found a great broker in the USA, I got the link to your forum. It looks great and I'm excited to discover it.
Looks like I am relatively new but been following this forum for a while now. About me, hm, I am leaving in Leeds, UK; have been learning to trade for last 2 years now. My experience with trading started probably like for most of us, many indicators, markets, charts and so on. For last year and a bit I am learning the AMT and MP trading and focusing solely on ES.
Just as a note why AMT and MP; during my University time I was hooked up to Price Action and so on, but over time AMT started to make more sense, especially those interesting yet trivial stories about car dealership or art auction. Always wanted to know why or how financial markets work. Early this year I did J. Dalton's 60 day intensive course which really helped me to put this concept into working environment.
Last night, I have been reading Mike's thread about giving up trading and this forced me to looked at my trading from entirely different perspective. Got all the same daemons as most of us: hesitation, procrastination, you name it. However, reading posts from that thread made me realise that I do not live to trade, life is not all about it, and at the end of the day if it won't happen today, than there is still time. Just need to be sound in what I am doing, have plan, and most importantly have plan B, if I won't make it happen. Think that at the end of the day it is not a shame to fail; but is important to take a lesson from it, in many cases expensive one.
So far so good, will try to post my journal in the near future and will continue my journey.
Good day everyone,
Began trading FOREX about 4 years ago, since then blew a couple accounts but still here. In beginning of this year, I moved to FUTURES trading primarily due to being out of Chicago. FUTURES market activity fits my schedule perfectly. My favorite market to trade is TF but will trade anything with a proper price config at a level of interest.